Rochester, NH Mike Reed, president of Stebbins Commercial Properties LLC negotiated the sale of the former St. Elizabeth Seton School at 16 Bridge St. from Roman Catholic Bishop of Manchester to the city of Rochester.
Reed represented the seller and assisted the buyer in this transaction.
According to the Registry of Deeds the sale price was $1.7 million.
In a seperate lease transaction in Dover, Reed brokered the lease of 3,100 s/f at 35 Third St. from KAB Realty Management LLC to Waypoint.
Reed represented the tenants and KW Coastal Lakes and Mountains Realty represented the landlord.
The multifamily market in Maine’s major cities presents a diverse range of opportunities for investors. We looked at the potential benefits and unique characteristics of three major submarkets in the state: Portland, Bangor, and Lewiston-Auburn. The information below is based on research done in CoStar and county registries, and focuses on multifamily properties that have four or more units.
As we all know, interest rates have been changing drastically, with movement in both directions, depending on the type and term of financing. The Federal Open Market Committee has taken drastic action in efforts to curb abnormally high inflation, but it hasn’t controlled labor cost growth to the extent that was intended.