 (2).jpg)
News: Front Section
Posted: November 20, 2014
Cawley and Cawley of United Multi Family broker $1.5 million sale of 22-unit property
United Multi Family (UMF) brokered the sale of a 22-unit apartment complex known as the Rocktree Apartments located at 69 Pleasant Valley Rd.
The sale was handled by Richard Cawley and Matt Cawley of UMF. The property was sold by Rocktree LLC to Rocktree II LLC for $1.5 million ($68,182 per unit). The financing was provided by Northwest Community Bank.
Situated on a 5 acre site, the property is comprised of 16 two-bedroom and 6 one-bedroom units in 3 two-story buildings built in 1974.
The CAP rate at the time of sale was 9.2% with the property having a gross annual income of $231,600.
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,
Columns and Thought Leadership
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.
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:
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.
