Dente General & Cosmetic Dentistry

My name is Dr. Emilio Couret and I own a dental practice on North Ave called Dente. I hired Bill Himmelstein after he explained to me that I could take my existing lease with three years left and either reduce the rental obligation or purchase my retail suite with a lower monthly cost while building equity. I had never considered the ideas that he brought to my attention, and after he explained that the landlord pays his commission so it would not cost me a thing, I thought why not give it a shot.

Bill was very calculating in his approach and seemed to have thought of every angle. Our first step was to evaluate the leasing market and we determined that my rate was above the fair market value. My landlord immediately shot down any idea of a blend and extend, but left open the possibility of a purchase. Showcasing his eternally optimistic view point, Bill took that window of opportunity to seek a purchase agreement on my behalf.

Ownership initially was asking $281 psf. After Bill followed his typical path of researching the current market conditions for a sale, he felt we could significantly reduce the asking price. By the end of his tenacious and market driven negotiations, Bill was able to get the sale priced reduced to $180 psf, or a reduction of 36% off the original asking price.

After Bill’s expert negotiations, my occupancy costs have been reduced 45% and I am now building equity with my monthly mortgage payment. Plus, I was able to buy at a very low point in the market. Another great value add that Bill brought to the table was amazing referrals to other extremely qualified professionals. He recommended a very knowledgeable attorney and a very savvy banker who were both instrumental in the whole process. Essentially Bill was able to bring his vast experience and market knowledge as well as other skilled professionals to make the process as seamless as possible.

October 24, 2016

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