News: Front Section
Posted: January 22, 2016
Christie, McGee and Lieber of NAI Hunneman handle $8.7 million sale
131-157 Columbia Street - Cambridge, MACambridge, MA NAI Hunneman, a leading provider of commercial real estate services, brokered the $8.7 million sale of a 23-unit multifamily portfolio located 131-157 Columbia St., 200 Harvard St., and 220-222 Prospect St. in the Central Sq. neighborhood of the city.
Executive vice president Carl Christie, assisted by assistant vice presidents Dan McGee and Henry Lieber represented the seller Columbia LLC and procured the buyer Columbia Prospect Family L.P.
“The sale drew significant interest from middle market investors, due to the rather rare opportunity to establish an ownership interest in one of the most sought after neighborhoods in Cambridge,” said Christie. “In the last 2 years there have only been 6 apartment sales in Cambridge over 20 units, almost all being larger institutional sales ranging from $30-$200 million. There have not been many comparable buying opportunities for assets of this size.”
Carl Christie, NAI Hunneman
Dan McGee, NAI Hunneman
Henry Lieber, NAI Hunneman
The portfolio consists of 131-151 Columbia St. & 200 Harvard St.; a seventeen unit mixed-use building located on the corner of Columbia and Harvard St. within walking distance of Central Sq. The building includes four street-level commercial stores and thirteen apartment units. The other property, 220-222 Prospect St., is a 6-unit apartment building located between Central Sq. and Inman Sq. Both sites are.4 miles (8 minute walk) from each other.
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.
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
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:
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.
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.
