News: Front Section
Posted: October 22, 2021
Girolamo of Horvath & Tremblay handles $3.564m sale of three properties
Lynn, MA Stephen Girolamo of Horvath & Tremblay has arranged the sale of three multifamily properties located at 551 & 555 Essex St. and 53 Arlington St. The properties, 19-units in all, closed at a combined sale price of $3.564 million, and a price per unit of $187,579.
551 & 555 Essex St. sold for $2.275 million. The two buildings contain a total of thirteen one-bedroom/one-bathroom units in 9,175 s/f of living area (12,918 s/f of gross area), on a 0.197-acre parcel. 53 Arlington St., which was a separate transaction, sold for $1.289 million and $214,833 per unit. The property is a three-story, multifamily building containing a total of six two-bedroom/one-bathroom units in 5,712 s/f of living area (7,808 s/f of gross area), on a 0.109-acre parcel.
Both properties are located in densely populated residential neighborhoods adjacent to downtown, with access to both local and regional transportation. The properties are situated just outside of Central Sq., the primary commercial area in downtown that offers access to an array of “downtown” amenities, including retail, restaurants, entertainment, and public transportation (bus and rail). Additionally, both assets are approximately 11 miles from downtown Boston.
Tags:
Front Section
MORE FROM Front Section
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:
