 (2).jpg)
News: Front Section
Posted: June 21, 2019
Kelleher, Pentore and Girolamo of Horvath & Tremblay broker $4.05 million sale of 30-unit property
Lynn, MA Dennis Kelleher, John Pentore and Stephen Girolamo of Horvath & Tremblay have completed the sale of 653-659 Western Ave. The 30-unit deal consists of a 14-unit residential building, a 15-unit residential building and a hair salon. The property sold at a price of $4.05 million and at a 5.6% cap rate.
653-659 Western Ave. consists of 19 one-bedroom units, 5 studio units, 5 two-bedroom units and Desi’s Hair Design. Property amenities include off-street parking, co-op laundry, gas cooking, and lead certifications. 653-659 Western Ave. is located in a densely populated residential neighborhood adjacent to downtown with access to both local and regional public transportation. It is just over one mile from Lynn Central Sq. 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,
Quick Hits
.png)
Columns and Thought Leadership
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.
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.
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:
