News: Front Section
Posted: February 12, 2016
Santoro of Kinlin Grover sells East Harbour Motel & Cottages
Nat Santoro, Kinlin Grover Commercial
East Harbour Motel & Cottages - North Truro
North Truro, MA According to Kinlin Grover Commercial Real Estate in Orleans, Sonja Soderberg has sold the East Harbour Motel & Cottages to Eric Shapiro of the Lexvest Group.
This 2.43 acre waterfront property has 7 two bedroom cottages, an 8 room motel, a 1 bedroom apartment, and a 2 bedroom owner’s quarters totaling 8,452 s/f. The property sold in December for $2.55 million after a yearlong lease/purchase contract.
The transaction was handled by Nat Santoro, CCIM of Kinlin Grover Commercial who represented the sellers, and Phil Scholl, formerly of Kinlin Grover Truro and now with Philip Scott Realty, who represented the buyer. Lexvest intends to convert the property to condominiums.
Kinlin Grover Commercial Real Estate was honored to be part of this transaction, and wishes the new owner success with his purchase.
Tags:
Front Section
MORE FROM Front Section
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
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.
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.
