MANCHESTER, NH – New Hampshire is known for its entrepreneurial spirit and this trend is continuing with the rise of young entrepreneurs. More and more young people in the state are bringing their passion, innovation, and a desire to make a positive impact on their communities, and our NH 2023 Young Entrepreneur of the Year, Nick Gray, is no exception.
Gray is a determined, ambitious 28-year-old real estate investor/broker and the founder of Gray Property Group, a multifamily investment, sales, and property management firm based in Manchester. Gifted in the STEM fields, Gray graduated from Phillips Exeter Academy in 2012 and earned his B.S. in Mechanical & Aerospace Engineering from Cornell University in 2015, in just 3 years, and magna cum laude. In 2016, Gray earned an M.S. in Mechanical Engineering at Stanford, after which he opted to forgo a Ph.D. degree and instead joined the workforce.
Gray began his professional engineering career at the jet engine manufacturer, Pratt & Whitney, designing turbine blades for the F-35 fighter jet and the Blackhawk helicopter. While there Gray developed a strong urge to pursue a more entrepreneurial course, one that would enable him to make a more direct impact on the community and achieve financial freedom in the process.
In late 2017, while still working at Pratt & Whitney, Gray purchased a duplex in Exeter, with a low money-down, first-time homebuyer’s program, initially for the simple purpose of reducing his personal housing cost. He enjoyed owning and improving this investment property so much that, after purchasing one more small multifamily property and obtaining his real estate sales license, he decided to walk away from his engineering job in favor of a career in real estate.
After several investment deals and sales transactions under his belt, he became a real estate broker in 2021 and opened the Gray Property Group office in Manchester. Today, the company owns and operates over 50 renovated apartments worth more than $9MM, manages dozens of other properties totaling over $30MM in assets, and has seven employees and four sales agents.
During the COVID-19 pandemic in 2020, Nick received $20,000 in SBA Economic Injury Disaster Loans. These funds provided Gray Property Group additional working capital during a time in which there was a heightened risk of rent non-payment and also gave the company working capital funds to complete two capital projects at Liberty Manor Apartments in Derry, improving the property and creating jobs for local contractors.
Gray is blessed to have successfully started Gray Property Group during the COVID-19 pandemic when so many other businesses were forced to close. He envisions that, in 30 years, Gray Property Group will own and/or manage 30,000 quality apartments in NH and Greater Tampa Bay, Florida. For more information, go to www.graypropertygroup.com/
Gray is a standout young entrepreneur who has not just achieved financial success for himself but has also worked to raise housing standards in NH. He places strong values at the core of his daily work with an emphasis on integrity, service to the community, and continuous improvement. Nick is also a First Lieutenant in the NH Air National Guard and has served on several municipal boards in Manchester and Exeter since 2017. Nick grew up in Seacoast NH and currently lives in Manchester with his wife, Caitlin, and their six-month-old daughter, Olivia.
Award winners will be honored at the 2023 National Small Business Week celebration, sponsored by the NH Office of the U.S. Small Business Administration and the NH Banker’s Association, which will be held on Wednesday, May 3rd from
4:00 to 6:00 pm at the Manchester Country Club, Bedford, NH.