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News: Front Section
Posted: October 23, 2015
DApice of the Mega Group completes $3 million sale for A&M Realty Group, LLC
30-38 Boston Street and 191-193 Federal Street - Salem, MASalem, MA The Mega Group has completed the sale of a 16,883 s/f 26-unit apartment complex located at 30-38 Boston St. and 191-193 Federal St. to Mardee Goldberg, LLC paying $3 million, which represents a CAP Rate of 7% factoring all variables. Financing of $2.4 million was provided by Institution For Savings in Newburyport.
Jennifer DApice, Mega GroupJennifer DApice, managing partner of the Mega Group represented the sellers A&M Realty Group, LLC and procured the buyer. Both buyer and seller engaged in the transaction as part of like-kind 1031 tax deferred exchanges.
It has been a busy summer for The Mega Group, as DApice has now netted $8.45 million in just two sales since assuming ownership of the brokerage this past June, with another $7.22 million scheduled to close by years end.
The Mega Group is a full-service commercial real estate firm founded in 1997, which primarily helps investors and property owners fulfill their needs by using personal touches and traditional methods of marketing commercial real estate.
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