Winthrop, MA NAI Hunneman brokered the $5.2 million sale of 87 & 90 Winthrop Shore Dr., a two-building apartment complex, totaling 38-units fronting the Winthrop Shore Reservation.
Executive vice president Robert Tito and assistant vice president Gina Barroso represented the seller Winthrop Shore Drive, LLC and procured the buyer RCG, LLC.
“87 & 90 Winthrop Shore Dr. was a true opportunistic investment, with enormous potential through apartment upgrades and market rent growth. In addition, the beachfront location and recent state investment into Winthrop Shore Dr. created additional value and is key to tenant retention,” said Tito. “Ownership had done a very good job maintaining and managing the property, with pride of ownership evident in the condition of the complexes.”
87 & 90 Winthrop Shore Dr. is comprised of two, 19-unit apartment buildings with a mix of studio, one-bedroom, and two-bedroom apartments. The property is situated on the west side of Winthrop Shore Dr., providing views of the Atlantic Ocean along Winthrop Beach. The property is located near public transportation via two MBTA bus lines, the Orient Heights T-stop on the Blue Line, as well as water transportation between Winthrop and Rowes Wharf in downtown Boston.
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 of 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 7,000 professionals and 400 offices throughout the world. NAI professionals work together with its global management team to help clients strategically optimize their real estate assets.