News: Front Section
Posted: August 13, 2008
Cawley and Braun of United Multi Family brokers $2.2 million sale
United Multi Family brokered the sale of a 40 unit apartment building at 680-696 North Main St. for $2.2 million.
The transaction was handled by Richard Cawley and Jason Braun of the New England office. The wood frame-vinyl sided residences were built in 1970 and sold by Berardi Realty Trust to Ernest Smither III and Ernest Smither Jr. with financing provided by Digital Capital Credit Union. The CAP rate at the time of sale was 10.10% with the property having a gross annual income of $349,200.
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