According to Nancy Frates, manager of Keller Williams Realty, the recent sales of $2.831 million has been closed by Brian Dapice of the KW Commercial division. The $2.831 million in closed transactions in downtown was comprised of six multi-family apartment buildings equaling 36 units for a total of 37,894 s/f. The properties involved in the transaction were: 71 Palmer St.; 6 Ward St.; 10-14 Lynch St.; 26-28 Salem St.; 35 Palmer St. and a 7-unit brick apartment building. In five of the transactions Puma Partners, LLC was the buyer, and at 10-14 Lynch St. Paone Family Trust was the buyer. The sellers were assorted, some bank owned, some conventional. Dapice represented both the sellers and buyers at 71 Palmer St. and the confidential 7-unit building and represented the buyers exclusively on the other four sales.
Dapice said, "Building a network of aggressive lenders and other licensed professionals has been very important. But having the ability to educate sellers going into the transaction on how buyers and lenders will be analyzing their investment, always makes the difference when reviewing offers. Structuring creative financing deals that benefits both the buyers and sellers has also been key."
Frates said, "With investment real estate, most markets require someone who knows and understands the economics of the community, compounded with the ability of establishing value with property owners and investment potential with buyers. Dapice is that person in our market."