Patrick S. Craffey, MAI
Senior Appraiser

Mr. Craffey serves as an appraiser primarily for the Connecticut market area, with select regional assignments in New York, Rhode Island, and Massachusetts. Since 1991, Mr. Craffey has prepared narrative and form commercial real estate appraisals, market and feasibility analyses, and tax counseling. Property types appraised include educational/school, daycare, industrial, office, restaurant, automotive repair, automotive dealership, varied condominium, multifamily, retail, supermarket, mixed-use, and vacant land. In addition, Mr. Craffey has prepared estimates of going-concern value, enterprise value, and business value in cases where the business activity and real estate are closely related, such as funeral home, sports/recreational, hospitality, banquet facility, valet parking, bowling alley, gas station/c-store, car wash, quick lube and other automotive related uses. Mr. Craffey has qualified as an expert witness in the Connecticut court system.

Ascendant Valuation Advisors offers the highest quality commercial real estate valuation and appraisal services. Located in Glastonbury, CT, we offer services throughout Connecticut, Rhode Island, and western Massachusetts specializing in self-storage and affordable housing units, providing appraisal, feasibility studies, brokerage and consulting services as well as litigation support. Multifamily, retail, industrial, office.
Property Appraisal: Commercial appraisals including multifamily, retail, industrial, office and special purpose properties. Specialty Services: Real estate market analysis, property tax assessments, property tax appeals and more. Litigation Support: including pre-trial deliberations and expert witness testimony for both the State and Federal court systems. CT, RI, western MA.

Our team is lead by Patrick A. Lemp, Principal, and Josephine C.A. Aberle, Managing Director

Multifamily: Extensive experience valuing apartment properties. Retail: ranging from fast food restaurants, neighborhood shopping centers, grocery anchored centers, regional malls. Industrial: warehousing/distribution facilities, aerospace manufacturing, mill-type properties, flex-type properties. Office: high-rise office buildings, call centers, medical space and ambulatory service buildings.

Specialty services include: Real estate market analysis including rent and demand studies. Property and lease comparables, including lease review. Property tax assessment reviews and property tax appeals.

We have extensive commercial property experience with litigation support including pre-trial deliberations and expert witness testimony for both the State and Federal court systems.

Watch Hill Storage Advisors, LLC, led by Patrick A. Lemp has been deeply involved in the self-storage industry since 1995 providing appraisal, feasibility studies, brokerage and consulting services to local, regional and national clients. Mr. Lemp has advised clients and assisted in the sale of single asset sales and portfolio sales of over $100,000,000 in proceeds.

We specialize in appraisals for US Housing and Urban Development (HUD) insured mortgages, including the 221(d)(4) and the 223(f) programs, HUD-compliant Rent Comparability Studies (RCS), developments operated with project-based Section 8 Housing Assistance Payment Agreements (HAP). Connecticut Housing Finance Authority (CHFA) and Low Income Housing Tax Credit (LIHTC) developments.

Patrick S. Craffey, MAI Senior Appraiser