 (2).jpg)
News: Front Section
Posted: March 7, 2013
Cawley and Braun of United Multi Family broker $3 million sale; financed by Digital Credit through Sheehan of EagleBridge Capital
United Multi Family (UMF) brokered the sale of a 32 unit apartment building at 272, 282 and 292 Bedford St. for $3 million ($93,750 per unit). Richard Cawley and Jason Braun of the New England office of UMF handled the sale.
The brick residences known as Cedarwood Village were built in 1960 and sold by Cedarwood Village, LLC to Cedarwood Village Apartments, LLC.
Financing was provided by Digital Credit Union through Brian Sheehan of EagleBridge Capital.
The property was situated on a 3.65 acre site including on-site coin-op laundry, plenty of off-street parking and a separate newer building with a garage and office over it. The unit mix was 6 two-bedroom and 26 one-bedroom apartments.
The CAP rate at the time of sale was 8.24% with the property having a gross annual income of $397,800.
Tags:
Front Section
MORE FROM Front Section
Newmark negotiates sale of 10 Liberty Sq. and 12 Post Office Sq.
Boston, MA Newmark has completed the sale of 10 Liberty Sq. and 12 Post Office Sq. Newmark co-head of U.S. Capital Markets Robert Griffin and Boston Capital Markets executive vice chairman Edward Maher, vice chairman Matthew Pullen, executive managing director James Tribble,
Quick Hits
.png)
Columns and Thought Leadership
Four tips for a smooth 1031 Exchange - by Bill Lopriore
Many real estate investors do not understand the specific requirements that must be met to secure the benefits of a tax-deferred 1031 exchange. For example, the replacement property must be identified within 45 days of the closing date of the relinquished property.
Five ways to ruin a Section 1031 Like-Kind Exchange - by Bill Lopriore
While there is some flexibility when structuring a like-kind exchange, some important requirements must be met. A mistake can ruin your exchange. Here are five mistakes to avoid:
How COVID-19 has impacted office leasing - by Noble Allen and John Sokul
To say that the effects of COVID-19 has transformed office leasing is an understatement. When COVID-19 was at its peak, office spaces were practically abandoned either through governmental mandates or through actions taken by businesses themselves.
Make PR pop by highlighting unique angles - by Stanley Hurwitz
Coming out of the pandemic, a client with three hotels in Provincetown, Mass., needed ways to let the world know his properties were open for business for the 2021 tourist season.
