Christie and McGee of NAI Hunneman broker $6.9 million sale
NAI Hunneman recently brokered the sale of two apartment buildings to Jocote LLC for $6.9 million.
NAI Hunneman brokers Carl Christie, executive vice president/principal, and Dan McGee, investment sales, represented the landlord, Tosi L.P., and procured the buyer in the transaction.
Located in the Kenmore Sq. area of the city, 45 and 47 Bay State Rd. are both brownstone buildings with bowfronts and rear views of the Charles River. The two romanesque revival-style buildings, constructed between 1891 and 1892, offer a mix of 20 studio, one and two-bedroom apartments.
"The two buildings at 45 and 47 Bay State Rd. offer both the historic charm of Boston brownstones and a host of recent capital improvements, making them an attractive destination for renters and a great investment for their new owners," said Christie.
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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.
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.
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