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News:
Owners Developers & Managers
Posted: October 30, 2015
Kelleher and Pentore of Marcus & Millichap handle $2.2 million sale - represented the seller, Chelsea Beacon Street LLC, and procured the buyer, Chelsea Realty Trust
Chelsea portfolio, Beacon Street, Division Street, and Shawmut Street - Chelsea, MAChelsea, MA Dennis Kelleher and John Pentore of Marcus & Millichap have brokered the transaction of a 15-unit apartment portfolio.
The sale closed at a price of $2.2 million, with a price per unit of $146,667. Kelleher and Pentore represented the seller, Chelsea Beacon Street LLC, and procured the buyer, Chelsea Realty Trust.
Dennis Kelleher, Marcus & Millichap
john Pentore, Marcus & Millichap
The portfolio is comprised of three apartment buildings located on Beacon St., Division St., and Shawmut St. The properties are comprised of (9) two bedroom/one bathroom units, (4) one bedroom/one bathroom units, (1) three bedroom/one bathroom unit, and (1) studio/one bathroom unit. Each building features separate gas heat, hot water, electric meters and coin-op washer/dryer. The properties are all within a half mile to each other and are located off Rte. 1 Northeast Expressway. Chelsea is an inner urban suburb of Boston with a diverse population.
Its location bordering Boston, on Boston Harbor and only three miles from Logan International Airport, gives it ideal access by water, rail, land and air.
With over 1,300 investment professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research and advisory services. Founded in 1971, the firm closed over 6,600 transactions in 2013 with a value of approximately $24 billion. The company has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors.
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