News: Front Section
Posted: July 19, 2019
Kelleher and Pentore of Horvath & Tremblay arrange $5.418 million in sales
Cambridge, MA Dennis Kelleher and John Pentore of Horvath & Tremblay have completed the sales of 25 Gore St. for $3.11 million as well as 123-129 Second St. for $2.308 million. The subject properties, under separate ownership and purchased by separate entities, allows the incoming investors to own generational assets in one of the strongest real estate markets in the region.
25 Gore St., selling for over $500,000 per unit, is a three-story, 6-unit apartment building with 5,646 s/f of livable area. The Gore St. property was delivered vacant at closing and is in need of a complete renovation.
123-129 Second St., which sold at $654 per foot, is a value-add, multi-family investment property containing four, two-bedroom/1bathroom apartments in 3,528 s/f of living area.
The properties, located blocks from each other, are located near Kendall Sq., one of the top life science clusters in the country. Adding to the properties appeal, situated close by will be Cambridge Crossing, a 43 acre mixed-use development that will have, once completed, 2.1 million s/f of commercial space, 2.4 million s/f of residential, 100,000 s/f of retail space and 11 acres of open space.
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