Help family member sell gas station in tier 1 east coast city (NYC/Boston)
Hey- so I work in PE and my unsophisticated family member fell into some real estate. It’s a gas station, in a tier one east coast city (think NYC, Boston etc). I’ve planted the idea that he should sell to a developer, keep a little equity. They love the idea and asked for my help. Any recommendations on who I should go to and what a reasonable fee for me should be?
Bump
Is the area good? Like is there lots of construction and new buildings going up nearby? Gas stations will also have environmental issues that are expensive to remedy.
My first thought is forget all that joint venture stuff, just hire a broker that has experience with selling gas stations and take the cash.
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