News: Front Section
Posted: January 30, 2014
Cawley and Braun of United Multi Family brokers $975,000 sale of an 8-unit building
United Multi Family brokered the sale of a 8-unit apartment building at 20 Copeland St. for $975,000 ($121,875 per unit). Richard Cawley and Jason Braun of the New England office of UMF handled the sale. The wood frame with vinyl siding residences were built in 1970 and sold by Brunelli Residential LLC to Bayridge Realty, LLC. Financing was provided by Bristol County Savings Bank. The property is comprised of 8 two-bedroom units built in 1970 each having their own garage parking space below. Situated on a 117,612 s/f site there is off street parking and two coin-op laundry rooms bringing in additional income. The CAP rate at the time of sale was 7.02% with the property having a gross annual income of $94,620.
MORE FROM Front Section
Quick Hits
STAY CONNECTED
SIGN-UP FOR NEREJ EMAILS
Columns and Thought Leadership
Shawmut Design and Construction breaks ground on the 195 District Park Pavilion in Providence, RI
Providence, RI Shawmut Design and Construction celebrated the ceremonial groundbreaking for the 195 District Park Pavilion, marking the start of construction on a facility that will feature year-round dining and support space for park operations. In addition to the 3,500 s/f building, the project will include infrastructure upgrades
The New England Real Estate Journal presents
the First Annual Project of the Year Award! Vote today!
The New England Real Estate proud to showcase the remarkable projects that have graced the cover and center spread of NEREJ this year, all made possible by the collaboration of outstanding project teams. Now, it's time to recognize the top project of 2024, and we need your vote!
Investing in a falling rate environment - by Harrison Klein
Long-term interest rates have fallen by 100 basis points, and the market is normalizing. In December of 2022 I wrote an article about investing in a high interest rate, high inflation market. Since then, inflation has cooled off, and the Fed has begun lowering their funds rate.
The 2024 CRE markets: “The Ups” (industrial) and “The Downs” (Boston class B/C office) - by Webster Collins
The industrial markets have never been stronger. What has happened is that the build out of Devens with new high-tech biotech manufacturing with housing to service these buildings serves as the connector required to really make the I-495 West market sizzle. Worcester has been the beneficiary