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Finance
Posted: May 12, 2011
Cornerstone Realty Consultants places $1.6 million for acquisition of 33-35 Waterston Ave.
Cornerstone Realty Consultants recently arranged a $1.6 million loan for their client allowing for the acquisition of 33-35 Waterston Ave. The 22 unit building is comprised of nine 2-bedroom apartment units and thirteen 1-bedroom units. The property is in excellent condition with many recent upgrades and is situated off of Hancock St. with easy access to I-93 and various MBTA buses and trains.
Cornerstone was able to obtain acquisition financing for its client through the structuring of a 10 year fixed rate, non-recourse loan with an attractive interest rate, and a 30 year amortization. Brett Pagani and Paul Natalizio of Cornerstone assisted on this deal.
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Finance
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Quick Hits
Columns and Thought Leadership
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The purpose of this article is to address problematic or confusing issues which may help assessors and appraisers to better understand how to value real estate for tax assessment purposes.
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Our current, highly competitive real estate market poses specific challenges for investors who are considering taking advantage of a tax-deferred 1031 exchange. In this market, investors will have no problem selling their current property if priced properly, but they may find it difficult to find a suitable replacement property
The focus on price per s/f compared to the comparable sales used in the appraisal report - by Dennis Chanski
Over the past several weeks, I have completed appraisal assignments for private clients. Interestingly, after submitting these appraisals, I received several phone calls – not to question the value, content, or any incorrect information, but rather to discuss the price per s/f compared to the comparable sales used in the report.
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Attention to owners of real estate in the Commonwealth (and the title companies and other professionals who advise them), the Massachusetts Department of Revenue (the “DOR”) recently adopted a new “millionaire’s tax” via 830 CMR 62B.2.4
