News: Front Section
Posted: October 29, 2009
Cawley and Braun of United Multi Family handle $2.4 million sale
United Multi Family brokered the sale of a 27 unit apartment building at 177 Crescent St. for $2.4 million ($88,889 per unit). Handled by Richard Cawley and Jason Braun of the New England office, the brick residences were built in 1970 and sold by A&C Trust to Bryan James with financing provided by Rockland Trust. The CAP rate at the time of sale was 7.69% with the property having a gross annual income of $275,376. UMF was able to obtain multiple bids in a short period of time through exposure to it's proprietary database of investors.
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