Herrick Lutts Realty Partners negotiates $4.3 million in sales

 

 

 

Beverly, MA Paul Herrick and Peter Lutts of Herrick Lutts Realty Partners negotiated the sale of 37 Bartlett St., a 6 unit residential building located near Beverly Center. The property features one and two bedroom apartments and sold for $1.145 million at a CAP rate of 6.03. The two represented the seller, an affiliate of Beverly-based Holloran Companies LLC, and both procured the buyer, a local investor.

Lutts also acquired the buyer, North Shore developer and investor, Benco LLC, for the purchase of 20, 30, and 40 Webster Ave. in Beverly Farms for $2.223 million. The site consists of three buildings and multiple rental units situated on 14 acres. Ideally located near the village and the commuter rail, the buyer has not yet finalized plans for the property. 

Rounding out the transactions, Herrick represented the seller of 39 River St. in Danvers. This six unit residential property located in the Danversport section of town features five two-bedroom units, and a single one bedroom unit overlooking Porter River. Located near a public beach and park, this property sold at a 6.03 CAP for $985,000.

Herrick Lutts Realty Partners at Keller Williams Realty is a full-service residential and commercial real estate firm specializing in the sales of properties for individuals, investors, and builders north of Boston. For over 20 years, they have sold hundreds of properties and have developed a reputation for providing unparalleled marketing and sales services to their clients.