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Stash Geleszinski
Managing Director, Cushman & Wakefield; Co-founder, Nydle
In this conversation, Ahmad Ashrafi interviews Stash Geleszinski, a seasoned professional in the commercial real estate sector. They discuss Stash's journey into real estate, the nuances of commercial versus residential real estate, the complexities of multifamily deals, and the challenges associated with land development.
Brokerage is a flywheel. It takes years of calls and site visits — see the property, see the people — to get it spinning, but once it turns, deals arrive in your inbox from relationships built a decade earlier.
Commercial buyers buy numbers, not kitchens. Value-add decisions come down to whether $12K into a unit returns roughly 20% — rents, expenses, taxes, and debt markets drive everything else.
Data can predict who will sell. Nydle ingests years of transaction data to spot the deliberate signs of a property being prepped for sale — loan maturities, trimmed expenses, high-transactor owners — turning cold calls into warm conversations.
The Midwest got sexy. While oversupplied Sun Belt markets struggle, consistent occupancy and rent growth in under-built Midwest cities are drawing the capital that once chased "the smile states."
