News: Finance

Essex Bank donates $1,851 to Lymes’ Youth Service Bureau

Old Lyme, CT As part of its Pop-Up Grant program for 2026, Essex Bank has donated $1851 to Lymes’ Youth Service Bureau. The monthly donations are a nod to Essex Bank’s founding year and provide support to local nonprofits.

Essex Bank president and CEO Diane Arnold said, “We are proud to support Lymes’ Youth Service Bureau and its important work in helping Lyme and Old Lyme’s young people develop into capable, compassionate adults.”

For nearly half a century, Lymes’ Youth Service Bureau has helped to educate, guide, and develop Lyme and Old Lyme’s youth with a variety of programs catered to children of all ages as well as their parents.

Essex Bank is a provider of financial services since 1851. Featuring six bank branch locations, Essex Trust, and wholly owned subsidiary Essex Financial Services, Essex Bank empowers customers throughout the Connecticut Shoreline and River Valley. Essex Bank prides itself on safe banking practices, personalized service, and deep community investment. It was the first bank in the State of Connecticut to share profits with the community it serves, and each year – through its Community Investment Program – Essex Bank donates up to 10% of its after-tax net income to nonprofit organizations and community development projects.

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Kozlowski of Newmark Capital Markets secures $115.6 million financing for two properties in CT

East Lyme, CT Newmark has arranged $115.6 million in financing on behalf of the sponsor to refinance The Cove at Gateway Commons and Sound at Gateway Commons. Newmark Capital Markets Strategies managing director Avi Kozlowski secured the financing through Freddie Mac.
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Massachusetts real estate transfers  over $1 million face new tax rules as of November 1st - by Daniel Meyer

Massachusetts real estate transfers over $1 million face new tax rules as of November 1st - by Daniel Meyer

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
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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

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.
Are appraisers on the same page as the assessor? - by Richard Seman

Are appraisers on the same page as the assessor? - by Richard Seman

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.