News: Front Section
Posted: September 25, 2015
Tito and Barroso of NAI Hunneman broker $13.335 million sale - Sold by Powderhouse Realty Corp. to Sandtail LLC
119 College Avenue - Somerville, MASomerville, MA NAI Hunneman brokered the $13.335 million sale of a 41-unit multifamily property located at 119 College Ave. in the Davis Sq. neighborhood of the city.
Executive vice president/principal Robert Tito, assisted by sales associate Gina Barroso represented the seller Powderhouse Realty Corp. and procured the buyer Sandtail LLC.
Robert Tito, NAI Hunneman
Gina Barroso, NAI Hunneman
“It’s rare to find a value opportunity like this in such a sought after multifamily market like Somerville,” said Tito. “119 College Ave. is a legacy asset, owned by the same family for over 50 years. The property was meticulously maintained and has tremendous upside making it a real win for the new owners who were looking to strengthen their local portfolio.”
Located in walking distance to Powderhouse & Davis Sq. along with easy access to both highways and public transportation, 119 College Ave. is a 4-story brick, garden style apartment building. Originally constructed in 1927, and well maintained by the same ownership for 50-years, the building offers a total of 41 units consisting of eleven studios, 23 one-bedroom, and 7 two-bedroom units.
Headquartered in Boston, NAI Hunneman is a leading provider of commercial real estate services to corporations, institutions and the private market. NAI Hunneman is a member NAI Global, the premier network of independent commercial real estate firms and one of the largest commercial real estate service providers worldwide. NAI Global manages a network of 6,700 professionals and 375 offices throughout the world. NAI professionals work together with its global management team to help clients strategically optimize their real estate assets.
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