Small Business Spotlight: Cynthia Froid Group

Article by Becky Fillinger, photos provided

Cynthia FroidCynthia Froid has been selling downtown real estate for over 25 years. She knows a thing or two about the market! She is also deeply involved with supporting community nonprofits. We talked to her about her inspirations, giving back and predictions for 2022. 

Q:  In a 2015 Star Tribune interview, you mentioned that Blue Ocean Strategy: How to Create Uncontested Market Space and Make the Competition Irrelevant by W. Chan Kim and Renee Mauborgne was your business bible. I have lots of questions! Did the lessons from this book help you develop the new market spaces of the downtown condo real estate market? Do you still rely upon the teachings from the book? Do you have other business books you’d like to recommend?   

A:  This is such a great book, and one that I return to every now and again. I learned a lot of great lessons from this book about “staying in your lane”, and being focused on mastering your craft, rather than comparing your business to that of your competition. There is plenty of real estate to sell in Minneapolis. I don’t need to sell all of it. I don’t want to sell all of it. I just want to sell the best of it. And I only want to work with clients who respect the experience and network that I bring to the table. I focus on selling specific buildings in specific neighborhoods downtown, and support the businesses and non-profits that are also in those neighborhoods. It is very important to me that my clients know this. With such a laser focus on downtown specifically, I can be very deliberate in my marketing and building my market share. I am truly devoted to exclusively focusing downtown and have never been distracted by chasing down business in the suburbs.

When COVID and the social unrest brought Minneapolis to its knees in 2020, frankly most of my competition ran for greener pastures and started looking for business elsewhere. They had no choice. At that time, I actually doubled down on downtown. I had the capital reserves to crank up my marketing efforts and we put our heads down and didn’t skip a beat. It was a rough year, yes, but we all rallied and our numbers from 2021 are the proof. Our team sold more properties downtown last year than in any of the previous six years. Last year was actually our second-best year of sales, ever.

But what am I reading now? Currently I am re-reading The New Gold Standard by Joseph A. Michelli for our team book club selection, along with Atomic Habits by James Clear. I’m also really looking forward to diving into Beyond Entrepreneurship by Jim Collins.

Cynthia at the Mill City Farmers Market with Dr. Hallberg of Mill City Physicians, Brenda Langton, MCFM Founder, and Martha Archer, MCFM Executive Director.

Q:  You give back to your community in many ways – you support the Mill City Farmers Market, People Serving People, Green Minneapolis and of course, our very own Mill City Times, to name a few. Your website shows the 20+ community organizations you assist and promote – why is it important to you to support the community in so many ways?   

A:  Giving to this community that has given me so much is a no brainer. So many of my clients are very philanthropic minded, and I learned early in my career that charitable giving is critical to the health of a community. The more the Mill City Farmers Market thrives, for example, the more people will want to be a part of it. What better way to be a part of it, than to live nearby? The more people love the neighborhoods downtown, the more they will invest in downtown. The more my career grows by selling properties downtown, the more I can give to downtown organizations who need my support. It’s a win-win for everyone. 

RBC Gateway project with the Central Library in the forefront.Q:  You’re the exclusive sales agent for the Four Seasons Private Residences in the RBC Gateway building – congratulations! Please tell us more about these condo units. When will they be ready for move-in? 

A:  This is a hugely important project for downtown, and our entire state. It is an honor to represent the Pohlad family and United Properties on this landmark endeavor. The Gateway block at Hennepin and Washington had been completely under-utilized, to the point of being an eyesore for thirty years before we started digging in June of 2019 (it was formerly the site of the historic Nicollet House Hotel until its demolition in 1991). The energy that will once again swirl around that block will be game changing for Minneapolis as RBC employees start moving in next month.

By June we will welcome our first five-star hotel in Minnesota, Four Seasons, with Chef Gavin Kaysen’s newest restaurant masterpiece on the street level. The cherry on top will be the Private Residences which we plan to start closing this fall. Minneapolis hasn’t seen anything like these residences, and we are so proud to be delivering them to some 34 lucky few buyers. The views, services and amenities will be incomparable.

Cynthia on-site at the RBC Gateway project.

The RBC Gateway project at Hennepin and Washington

Q:  What do you predict for the 2022 downtown real estate market?   

A:  I don’t have a crystal ball and have learned never to make any proclamations about what’s coming. BUT, based on our sales from last year and a robust start to Q1, I am very bullish on the downtown market. It is worth noting that the majority of buyers who are investing in Four Seasons and the Eleven already live downtown. These people will be selling their homes downtown this year in preparation for moving into their new building. This will free up a lot of nice inventory, and we should see plenty of great options for people this spring in the Mill District, North Loop, and East Town (St Anthony Main) neighborhoods.

Q:  How may we follow your news?   

A:  People love looking right in our window on 2nd Street (709 2nd Street South) to view our new and upcoming listings (bring your doggies in for a treat!), but you can also sign up for our Saturday email newsletter with all the fresh weekly updates, and of course follow us on Instagram for inspiration, professional tips, upcoming listings and local events.