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News: Front Section
Posted: June 24, 2016
Brady Sullivan completes $3.25 million sale of Quarrywood Green
Milford, NH Brady Sullivan Properties arranged the sale of 36 units at Quarrywood Green Condominiums, located at 59 Ponemah Hill Road, for a sale price of $3.25 million or $90,000/unit. The cap rate at the time of the sale was 8.2% with an annual NOI of $267,292. Brady Sullivan’s in-house commercial team of Charles Panasis, Ben Kelley and James Tobin facilitated the transaction on behalf of the seller, Brady Sullivan. The property was purchased by New Point, LLC, a Massachusetts-based investment company.
Quarrywood Green Condominiums, 59 Ponemah Hill Road - Milford, NHQuarrywood Green is a garden style condominium complex consisting of two buildings totaling 66 condominium units. The packaged portfolio of 36 units was fully rented and consisted of mostly 2 bedroom, 2 bath units.
Built in 2003, Quarrywood Green’s condominium units are complete with on-site laundry facilities, fully appliance kitchens, private balconies, and on-site parking.
The fractured condominium development includes premium condo homes with granite countertops, Brazilian Cherry floors, and stainless steel appliances. An on-site outdoor playground and barbeque area paired with the community’s proximity to major highways in southern New Hampshire offer a complete living experience for all tenants.
Brady Sullivan owns over 4 million s/f of office, retail and industrial real estate in New Hampshire.
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