News: Front Section
Posted: February 2, 2024
North Shore Realty closes two transactions totaling $4.223m
Beverly, MA Dan and Sara Pouladian of North Shore Realty Advisors Inc. closed two separate transactions for a total of $4,222,500
5 Edwards, a three-story multi-family built in 1985 with a lot size of .43 acres (18,562 s/f). The property consists of nine two-bedroom apartments and 22 off-street parking spots. Edwards St. is located between Cabot St. and Rantoul St. which are the two main corridors in downtown. Pouladian represented the seller and procured the buyer from a 1031 exchange. This property closed at the asking price of $2.6 million or $288,888 per unit and going in cap rate of 5.8%.
25 Bow St. was a property held by the same ownership for over 35 years making this a rare opportunity for investors. North Shore Realty Advisors, Inc. conducted a “Call for Offers” sale structure with over 30 property tours and 10 offers. The property consists of six units and eight off-street parking spaces. This property sold above the asking price of $1.6 million and closed for $1.625 million or $270,417 per unit. Pouladian represented the seller and procured the buyer on this transaction.
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Columns and Thought Leadership
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:
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.
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.
