East Boston Savings Bank recently reported the following promotions at the annual meeting of its parent company, Meridian Financial Services, Inc.:
*Eric Heath, senior vice president, human resources;
*John Migliozzi, senior vice president, lending;
*Joseph Scurio, vice president, small business administration, lending;
*Philip Pace, vice president, compliance; and
*Michele Pergola, vice president, loan review.
In addition Jodi Panzica was promoted to the position of vice president business development.
Panzica had served as assistant vice president, business development officer for the last four years. Prior to that, she held the position of sales and service officer.
New Haven, CT M&T Realty Capital Corp. (M&T RCC) completed the closing of a $31.9 million bridge loan for Estelle New Haven, a newly constructed 96-unit Class A multifamily community located at 19 Elm St. in downtown. The financing will support the property’s continued lease-up and stabilization while refinancing existing construction debt.
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.
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
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
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.