News: Front Section
Posted: July 7, 2009
Cawley and Braun of United Multi Family broker $1.39 million sale of 21 units
United Multi Family brokered the sale of a 21 unit apartment building at 31 Bowdoin, 30-32 William and 4 North Ashland St, Worcester, MA for $1,39 million ($66,190 per unit). Handled by Richard Cawley and Jason Braun of the New England office, the brick residences were sold by Amacor LLC to 30 Main Street Realty Trust with financing provided by East Boston Savings. The CAP rate at the time of sale was 8.51% with the property having a gross annual income of $198,360. Utilizing the 1031 tax deferred exchange the buyers were able to defer paying capital gains taxes on a recent sale.
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