Christie, McGee and Lieber of NAI Hunneman arrange $3 million sale
NAI Hunneman, a leading provider of commercial real estate services, brokered the $3 million sale of a 30,000 s/f office property located at 217-221 Essex St.
Executive vice president/principal Carl Christie, assisted by sales associates Dan McGee and Henry Lieber represented the seller Park Towers IV LLC and procured the buyer Essex Derby LLC.
"The transaction provides the buyer with an irreplaceable trophy asset in an excellent downtown location; and at $100 per s/f the repositioning possibilities are endless," said Christie.
Strategically located in historic downtown, 217-221 Essex St. is a first class 30,000 s/f mixed-use building in The Essex St. Pedestrian Mall. The building, which was at one time a bank, had been renovated to 4 stories of office on top of two retail units on the first floor.
Headquartered in Boston, NAI Hunneman is a leading provider of commercial real estate services to corporations, institutions and the private market. NAI Hunneman is a member NAI Global, the premier network of independent commercial real estate firms and one of the largest commercial real estate service providers worldwide. NAI Global manages a network of 6,700 professionals and 375 offices throughout the world. NAI professionals work together with its global management team to help clients strategically optimize their real estate assets.
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,
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.
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.
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: