News: Front Section
Posted: December 22, 2023
Girolamo of Horvath & Tremblay arranges sale of eight multifamily units in Salem, Mass. for $2.625 million
Salem, MA Stephen Girolamo of Horvath & Tremblay has arranged the sale of eight units. Horvath & Tremblay represented the seller and procured the buyer to close the properties at a sale price of $2.625 million.
The multifamily investment properties are located at 277 Lafayette St. and 28 Summit Ave. The buildings are adjacent to each other and contain a total of eight residential units consisting of five three-bedroom/one-bathroom units, one two-bedroom/one-bathroom unit, and two one-bedroom/one-bathroom units with 9,818 s/f of total gross area on a combined 0.52-acres. Lafayette and Summit also feature seven on-site parking spaces and three garage bays. The units are separately metered for utilities and feature gas heat.
The properties are located in the southern portion of the city’s downtown. Positioned along Lafayette St. (Rte. 114) the properties have access to Canal St., the area’s primary commercial corridor, as well as the center of downtown, Salem Harbor, Salem Hospital and the area schools. The location is walkable to numerous dining, drinking, shopping, cultural and entertainment amenities.
The properties are located close to I-95, the Yankee Division Highway, US Rte. 1 and Rtes. 107 and 114. MBTA bus route 455 stops near the properties, providing access throughout the North Shore. Commuter Rail Service to Boston is available 1.1-miles from the properties at the Salem Train & Bus Station.
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,
.png)
Columns and Thought Leadership
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.
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.
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: