Bath, ME Colliers brokered the sale of a multifamily property located at 50 and 52 Floral St. for $1.185 million. The sellers, Elliot and Jean Mead, were represented by Blake Wright, of Colliers. The buyers, G&G Realty LLC, were represented by Tracy McDonough of Keller Williams Realty.
“Blake handled the tough negotiations with incredible hustle and dedication. He went above and beyond with his time and effort,” said Elliot Mead.
The sale, recorded at the Sagadahoc Registry of Deeds, includes two buildings encompassing a total of 6,696 s/f on 0.89± acres and features four residential units.
This transaction underscores the real estate activity in the town and the appeal of well-maintained multifamily properties in the region.
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.
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.