Marcus & Millichap arranges sale of 30-unit apartment building - $4.85 million

30 PARK - Revere, Mass.

Revere, MA Marcus & Millichap sold 30 PARK, a 30-unit apartment property for $4.85 million.

Evan Griffith, a senior associate in Marcus & Millichap’s Boston office, had the exclusive listing to market the property on behalf of the seller, a family trust.  The buyer, a private investor, was also procured by Griffith.

30 PARK consists of a mix of one- and two-bedroom units, as well as ample parking.

Saul Feldman of Feldman Law Office provided legal representation for the seller.

Tim Thompson is the sales manager in the Boston office.

“Rarely do we see a turn-key asset come to market like 30 PARK and when we do the investment community races to secure the opportunity. We conducted over 30 tours on the property and generated a pool of competitive offers for the Seller which helped them reach a record level price for the property” said Griffith.  “It was a pleasure working with the long term ownership who have really put their heart and soul into the property over the last 40+ years.”

“The buyer couldn’t be more excited to add this generational asset to their growing portfolio of apartment buildings. With the multi-million dollar Broadway rehab project underway adjacent to the property, the future looks brighter than ever for downtown Revere” said Griffith.