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, which operated in Los Angeles successfully for over 10 years 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. With the help of mentors in the industry, Peter has had great success while earning some awards. In 2010, Peter earned the coveted CCIM designation with the intention of expanding his skillset and understanding of institutional assets. And in 2016, he earned the prestigious CBI designation to help understand how to transact businesses that often run with net leased properties like gas stations and laundromats.
Peter has worked at many big firms such as Marcus & Millichap and Sperry Van Ness, and is the recipient of RE/MAX Commercial’s highest honor, the Hall of Fame Award. Peter is now a licensed broker in California, New York and Georgia and has a Master’s degree in Psychology. Over the years Peter has demonstrated an elite knowledge of the underwriting, pricing, & marketing, and negotiating, which led him to represent many icons in commercial real estate in LA.
In 2017, Peter focus shifted from predominantly working with multifamily owners selling apartments and buying NNN properties out of state, to working with developers to help find properties for acquisition (a shift from Sell side to Buy side). This shift occurred when Peter, a self taught programmer, realized he could reverse engineer development standards posted online using “bots” to easily identify sites with zoning and dimensions to maximize density and FAR.
In doing so, Peter recognized that the niche of searching for properties (that could be re-developed) was not being well served in the commercial real estate marketplace and he could leverage technology and implement systems that would do a lot of the work in analyzing deals. And thus Development Sight was born.
Since 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. This process can take 30-45 minutes of manual analyzing before a property can be qualified. But with automated systems, the properties with the best qualities could be identified first.
Now it’s 2021, and Development Sight has expanded it’s focus into serving the needs of self storage developers as wells a multifamily, and Peter is applying to schools for another masters degree. In 2023, Peter hopes to graduate with a MRED, Masters in Real Estate Development, and thanks to numerous client recommendation letters to schools, he feel confident in the endeavor.
To get a sense of the software that I have developed for Development Sight over the years, take a peek at the video to the right. I may be a good programmer, but I am clearly not the best videographer. The sound quality is very low, but this video will show anyone how I built a “Chrome Controller” to analyze land development sites and do a lot of the calculations to see if the location is a good affordable housing development site in Los Angeles.