We don't shovel "mud" to Principals
Most Agents use mass emails to send development deals to everyone, like development is “one size fits all.” We call that “shoveling mud” because the agent doesn’t take the time to learn to evaluate development or make it easy for the client to understand the project, they just “shovel mud” to your inbox and hope you figure it out.
We have a better way.
We actually take the time to understand what makes a deal work for you before sending it. For affordable housing, we know which areas are high resource, for multifamily, we know area median income (AMI), and for self storage, we understand square feet per capita.
About Development Sight
Peter Ciriello CCIM (Broker License #1418188), founded LA Commercial in 2003, and is a recognized leader in commercial real estate brokerage and an expert in development in California. As the principal broker, Peter focuses on transactions, client care and relationship building. Peter has earned the coveted CCIM designation, and is the recipient of RE/MAX’s highest honor, the Hall of Fame Award. He has demonstrated unrivaled knowledge of the underwriting, pricing, & marketing. Peter is a licensed broker in California, New York and Georgia and has a Master’s degree in Psychology.
In 2016, Peter focus shifted from predominantly working with multifamily owners to working with developers to help find properties for acquisition (a shift from Sell side to Buy side). This shift occurred because Peter wanted to help people and feels that housing should be something available to everyone.
In doing so, Peter almost immediately recognized that the niche of searching for properties that could be developed was not being well served in the commercial real estate marketplace. Most brokers go after listings only, and they don’t want to take the time to learn about zoning, FARs, tracts, tiers, or all the intricacies that affect what can be built on each parcel of land. Most deals take 30-45 minutes of analyzing before a property can be quantified. That said, Peter also realized that he could write code and implement systems that would do half the work. And thus Development Sight was born.
Now it’s 2021, and some of the development market has dried up in multifamily due to Covid19, and Peter has taken the time to move into self storage as another focus. Affordable housing seemingly never quits, but market rate multifamily ebbs and flows.