Prepared for lenders, CDCs, and federal agencies to SBA SOP 50 10 8, USDA RD Instruction 5001, and conventional underwriting standards. Fiduciary duty runs to the lender and the agency, never the borrower. More than 4,000 studies since 1998 covering $40.2 billion in evaluated project value.
Condominium feasibility differs from rental multifamily in kind, not degree: the question is velocity, not yield. The study models pricing by unit type against verified resale and new-product comparables, monthly absorption against the market's demonstrated depth of qualified buyers, and sell-out duration against the development loan's term and carry. Unit-count optimization receives explicit treatment — the firm's methodology tests alternative configurations because the base plan is frequently not the feasible one — and presale requirements, HOA economics, and construction-defect reserve realities are addressed plainly.
The firm maintains a dedicated condominium sell-out methodology, codified in its production manual, carrying optimized unit-count scenarios, monthly absorption modeling, price-elasticity testing, and total-development-cost screens. Comparable evidence is verified at the closed-transaction level, and the model presents the development lender's exposure month by month through sell-out.
Every Wert-Berater financial model is fully linked with no hardcoded values, so any reviewer can stress any input. Deliverables comprise a complete narrative report and the linked Excel model, with ten-year pro forma, sensitivity analysis at ±5, 10, and 15 percent, interest-rate stress from +0.5 to +3.0 percent, and ratio analysis benchmarked against RMA and IBISWorld data.
SBA engagements are prepared to SOP 50 10 8, including its debt-service-coverage minimums of 1.15x operating and 1.00x global. USDA engagements follow RD Staff Instruction 5001 across the Business & Industry, Community Facilities, REAP, and Value-Added Producer Grant programs. Conventional engagements are built to the lender's stated coverage standard, typically 1.20x. Condominium programs are conventionally financed; the study is built to construction-lender underwriting standards with the coverage and release-price analysis that structure requires.
The reference engagement is a 184-unit Class A sell-out in Winter Haven, Florida, where the 170-unit base plan was determined infeasible at $60,250,000 and the optimized 184-unit configuration favorable with conditions at $48,456,000 — a determination pair that demonstrates the value of independent configuration testing. Independence is non-negotiable: determinations follow the evidence and are not revised under pressure, and studies are built to pass lender, agency, and third-party review without exception items.
Qualify a project. Tell us about the project and the program. We will tell you the truth about it — scope, timeline, and fee confirmed before work begins.
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