News: Front Section
Posted: August 26, 2022
Kelleher and Pentore of Horvath & Tremblay sell two properties in Somerville, MA for $5.82m
Somerville, MA Dennis Kelleher and John Pentore of Horvath & Tremblay have completed the sale of two properties in two separate transactions for a total of $5.82 million.
126 Pearl St. sold for $3.1 million. The mixed-use property contains a three-story building with four retails units and three residential units, all within 13,131 s/f of total gross area on a 0.18-acre parcel. The residential units on the second and third floors consist of three two-bedroom/one-bathroom units in 7,629 s/f of gross living area. The retail units have entrances at street-level and each unit has its own storage space in the basement. The property is located in East Somerville, in the path of the future Green Line Extension less than a mile from shopping, dining, fitness and entertainment options at Assembly Row and one mile from the MBTA’s Sullivan Sq. Station.
The duo also facilitated the sale of 103-105 Summer St., a six-unit apartment building. The building sold for $2.72 million and $453,333 per unit. Located in the Spring Hill neighborhood of the city, in the path of the future Green Line Extension, the property offers the rare opportunity to acquire a fully renovated asset in one of the hottest real estate markets in the region that is poised for future growth. The well maintained, three-story building contains six residential units consisting of two one-bedroom/one-bathroom units, two three-bedroom/one-bathroom units, and two four-bedroom/one-bathroom units in 4,326 s/f of living area in 6,683 s/f of gross area on a 0.15-acre parcel.
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
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.
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.
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:
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.
