News: Front Section
Posted: September 29, 2023
NAI Glickman Kovago & Jacobs facilitates sale of 30-unit apartment complex for $6.3 million
Worcester, MA NAI Glickman Kovago & Jacobs facilitated the $6.3 million sale of a 30-unit apartment building at 31 Caroline St. The seller, 31 Caroline St., LLC was represented by NAI Glickman vice presidents David Eldredge, and Tim Whittredge.
The property was built in phases through 2016-2018 with full occupancy in 2018, complete with 30 one-bedroom, one bathroom garden style apartment units.
Whittredge said, “The property’s strategic proximity, situated within a mile of downtown Worcester and in close vicinity to I-290, various colleges, restaurants, and the recently completed Polar Park, significantly enhanced its appeal. We are delighted that the buyer, Ermani Properties, LLC, will be able to leverage the numerous advantages offered by both the location and the property.”
“As one of the newest apartment complexes to trade in Worcester, we are thrilled to have been a part of this transaction,” said Eldredge.
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
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.
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.
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: