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News:
Owners Developers & Managers
Posted: February 21, 2013
Cawley and Braun of United Multi Family broker $2.6 million sale
United Multi Family brokered the sale of a 16 unit apartment building at 183 Belgrade Ave. for $2.6 million ($162,500 per unit). Richard Cawley and Jason
Braun of UMF handled the sale. The brick garden style residences were built in 1960 and comprised of 15 two-bedroom and 1 one-bedroom units. The property was sold by 183 Belgrade Realty Trust to Hatfield Properties, LLC with financing provided by Bank of Cape Cod. The CAP rate at the time of
sale was 5.7% with the property having a gross annual income of
$224,400.
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