News:
Owners Developers & Managers
Posted: May 28, 2015
Cawley and Cawley of United Multi Family handle $1.525 million sale
United Multi Family brokered the sale of a 28-unit apartment building at 9-31 Vine St. for $1.525 million ($54,464 per unit).
The sale was handled by Richard Cawley and Matt Cawley of UMF. The brick residences were built in 1927 and comprised of 23 one-bedroom, 3 two-bedroom, 1 studio and 1 four-bedroom apartments.
Situated on .32 acre, the property is well located to public transportation, stores, employment (New Britain General Hospital) and Central Conn State University.
The property has been well taken care of with many capital improvements: new roof, new windows, new boiler, and new electric.
The property was sold by the 9-15 Vine Street LLC to New Moon LLC in an all cash transaction. The buyer purchased the property as part of a 1031 tax deferred exchange on a piece of land they had sold in Brooklyn, NY. The CAP rate at the time of sale was 7.61% with the property having a gross annual income of $246,138.
MORE FROM Owners Developers & Managers
Routine Properties acquires Bristol Business Park at 383 Middle St. - 406,665 s/f industrial campus
Bristol, CT Routine Properties, a boutique real estate development and investment firm specializing in industrial assets throughout the Northeast, has acquired the Bristol Business Park, a 406,665 s/f industrial campus located at 383 Middle St.
.png)
 (1).png)
Columns and Thought Leadership
Retail infill strategy to activate Pawtucket’s Conant Thread District - by Gaetan Kashala
Until recently, the Conant Thread District consisted of approximately 150 acres of underutilized industrial land spanning Pawtucket and Central Falls. Today, the area is one of the most significant
IREM president’s message: Our new reality - Staying ahead of supply chain delays - by Yoany Vargas
Supply chain delays are slowing construction, ratcheting up operating costs, and extending turnover timelines across Greater Boston, directly reducing revenue and increasing the workload for multifamily and
Florida ruling raises bar for condo terminations and buyouts - by Michael Karsch
On October 14, 2025, in a landmark decision with significant implications for the Florida real estate market, the Supreme Court of Florida formally denied Two Roads Development’s (TRD Biscayne LLC) petition for review in its long-running case against unit owners of Biscayne 21,
Revitalized Town Centers: Retail??? - by Carol Todreas
It is now widely accepted that customers want to shop in person at physical stores. Brands know that they do better business in a physical store than just on line so they want to open stores. Demand for retail space by digital merchants, local entrepreneurs, and newly developed national chains
 (1).png)