Small Firm, Big Results: How Boutique Commercial Real Estate Firms Are Succeeding in Connecticut’s Competitive Market

Written by:

Steve Marcinuk

Date:

18 Dec 2025

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Connecticut’s commercial real estate market is experiencing record activity, fueled by an influx of New York buyers and growing interest from institutional investors. Amid this surge, boutique brokerages are proving they can compete with national firms by emphasizing exclusive tenant representation and personalized service. Kravet Realty LLC, led by Jeff Kravet, exemplifies how smaller firms are winning business and delivering results in today’s environment.

Jeff Kravet’s early interest in commercial real estate set the stage for his career. “When I was five years old, my grandfather asked what I wanted to do. I said I always wanted to be in commercial real estate,” recalls Kravet, now president of his namesake firm. Before returning to brokerage in the late 1990s, Kravet spent 17 years operating messenger services, eventually finding his way back to his original passion.

Building a Boutique Brand

Kravet’s experience with larger commercial real estate firms shaped his approach. After more than a decade with big brokerages, he launched his independent firm in 2012 following a contract dispute over non-compete clauses. “Within 30 minutes of that phone call, they sent me a termination notice. Within 35 minutes, Kravet Realty was born,” he says. “I was up and running about five minutes after they decided we weren’t a good fit anymore.”

The firm’s trajectory accelerated four years ago when Lucas Severo, a University of Connecticut graduate, joined as an associate. What started as a mentorship quickly became a true partnership. “It’s not one plus one equals three – it’s one plus one equals ten,” Kravet says. “We’ve taken on more business in the last two years than I had in the previous 20 years.”

This partnership has driven significant growth. Kravet reports that 2025 was his best year yet, with the firm managing tenant representation for major franchisees and handling investment sales across various asset types.

Competing with National Firms

Kravet Realty’s ability to compete with national firms is rooted in its boutique model and openness to collaboration. Unlike larger firms that claim exclusive access to buyers, Kravet prioritizes broad market exposure. “When I put a deal on the market, I co-broke. The client doesn’t care how my commission is divided up – they care about getting the best price,” he says.

This approach recently helped Kravet Realty win a listing over Cushman & Wakefield in Westport. “That resonated with the sellers. They said, ‘Yeah, we don’t care how your commission is divided up, but we do care about getting the best price,’” Kravet explains.

Market data platforms like CoStar have further leveled the playing field. “There’s no information that any of the big houses have access to that we can’t provide,” Kravet notes. “The difference is you get personalized service with no inherent conflict of interest.”

Tenant Representation and Market Insights

Kravet Realty’s exclusive tenant representation portfolio provides a window into current market trends. The firm represents a Verizon franchisee who has expanded from 27 to 78 locations under Kravet’s guidance – a testament to the strength of essential retail. The firm also manages locations for Enterprise Car Rental and recently brokered a deal for sports betting company Sportech, which partnered with former MLB manager Bobby Valentine.

Kravet sees clear patterns in retail performance. “We learned during COVID what was necessary retail and what wasn’t,” he says. “Everything necessary has done reasonably well.” Essential services like telecommunications and car rentals are expanding, while restaurants face tougher conditions, even as some operators look to grow.

Kravet attributes long-term client loyalty to his hands-on approach. “I fight for every last quarter like it’s my own money. When you have a broker that fights for you on that level, why would you go anywhere else?”

Connecticut’s Growing Appeal

Fairfield County, in particular, is seeing intense interest from both individual and institutional buyers. “Stamford is on fire. There’s not a nook and cranny that’s not being eyed by every single developer,” Kravet reports. The migration from New York is visible in both residential and commercial markets. As Kravet puts it, “I moved out of my shoe box in Manhattan into my shoe store in Connecticut.”

Institutional investors, once focused almost exclusively on Manhattan, are now allocating more capital to Connecticut. “We’re starting to see institutional capital – the Blackstones, the Clarions of the world – look at Connecticut and say, ‘Maybe we shouldn’t have all our institutional money in Manhattan,’” Kravet says. “Connecticut’s on the map more than I’ve ever seen in my 28-29 years doing this.”

Financing: Navigating a Complex Landscape

Today’s financing environment is mixed, with some buyers struggling to secure loans even as banks continue to lend. “Yes, buyers are having trouble, and yes, banks are still lending,” Kravet says. “It’s really a question of the spreads and whether the deal makes sense at the current rate.”

Multifamily properties remain the most financeable, as rents provide reliable income. “There’s always a number I can rent an apartment for,” Kravet explains. Office buildings are harder to finance, especially without a clear path to conversion. Industrial properties, after years of rapid appreciation, have cooled somewhat but remain more attractive to lenders than office assets.

To bridge financing gaps, Kravet has arranged several owner-financed deals. The focus remains on positive leverage: “If your going-in cap rate is 6.5% and you’re getting debt at 6.75%, you’re going to struggle.” This reality is pushing both buyers and sellers to adjust expectations and seek creative solutions.

Generalist Approach: A Broader Perspective

Kravet Realty’s generalist model – handling tenant and landlord representation and investment sales across retail, industrial, and multifamily sectors – offers a comprehensive view of the market. “It gives you a better understanding when you’re hired to sell a shopping center because you already understand what the landlord thinks about and what tenants thought about when they signed their lease,” Kravet says.

This integrated perspective helps the firm anticipate client needs and identify opportunities that more specialized competitors might overlook. Kravet Realty is also expanding its office leasing capabilities and strengthening relationships in Fairfield and Westchester counties.

Looking Ahead

As Connecticut’s commercial real estate market attracts more investors and tenants, boutique firms like Kravet Realty demonstrate that success is not about size, but about expertise and service. Deep market knowledge, strong relationships, and a commitment to client advocacy are the cornerstones of their approach.

“I tell people I couldn’t turn it off if I wanted to, and the truth is I don’t want to,” Kravet says. “I’m privileged that I love what I do. You’d be hard-pressed to show me a better industry, a better market, and better people to work with.”

For commercial real estate professionals and investors, Kravet’s experience shows that boutique firms can thrive by focusing on client service, transparent deal-making, and local expertise – even as competition heats up and the market evolves. As Connecticut’s profile continues to rise, firms that adapt quickly and provide real value will be the ones leading the next phase of growth.