News: Front Section
Posted: May 19, 2023
Norton and Girolamo of Horvath & Tremblay sell 16-units for $3.4m
North Andover, MA Spencer Norton and Stephen Girolamo of Horvath & Tremblay have arranged the sale of two multi-family & mixed-use investment properties. Norton and Girolamo represented the seller and procured the buyer to complete the transaction at a sale price of $3.4 million.
The two properties are located at 19-29 East Water St. and 61-67 Water St. The properties contain a total of 16 units, consisting of one retail unit, six two-bedroom/one-bathroom units, two 2+bedroom/one-bathroom units, four one-bedroom/one-bathroom units, two three-bedroom/one-bathroom units, and one studio unit with 11,715 s/f of living area in 16,513 total gross s/f with a combined parcel size of 0.751-acres. 61-67 Water St. and 19-29 E. Water St. are 0.4-miles apart and are well-located in a densely populated residential neighborhood. Both of the properties are located in the north end of the city and are close to downtown Lawrence and offer access to area highways, public transportation, schools, retail amenities, and entertainment venues.
The properties are approximately 1.5-miles from the Lawrence Train Station with service to Boston on the MBTA’s Haverhill Line. The locations provide easy access to I-93 and 495 as well as MA Rtes. 28, 133 and 114 which are just a couple miles from the property. The properties are also within 1-mile of the North Andover High School, Middle School and Elementary School and are approximately 2.5-miles from Merrimack College and Lawrence General Hospital.
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
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:
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.