News: Front Section
Posted: September 22, 2017
Creahan and Braun of United Multi Family broker two sales totaling $7.5 million
Cambridge, MA United Multi Family (UMF) has completed two sales totaling $7.5 million.
UMF brokered the sale of a 13 unit apartment building at 34-42 & 33-35 Harding St. for $5 million ($384,615 per unit). Jack Creahan of UMF brokered the sale. The residences were built in 1903 and sold by Harding Enterprises LLC to Cambridge Harding Realty. Financing was provided by Cambridge Savings Bank. The CAP rate at the time of sale was 6% with the property having a gross annual income of $350,220. ?
UMF also brokered the sale of a 5 unit apartment building at 775 Tremont St. in Boston for $2.5 million ($500,000 per unit). Jason Braun of UMF brokered the sale. The brick residences were built in 1899 and comprised of 4 two-bedrooms with 1.5 baths each and 1 one-bedroom with two baths along with two parking spaces in the rear. The property was sold by New 775 Tremont Street Realty Trust to Torrington Venture 1 LLC. Financing was provided by Mechanics Coop Bank. The CAP rate at the time of sale was 3.58% with the property having a gross annual income of $139,200.
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