NAI Hunneman recently brokered the sale of the Fifth Ave. Apartments for $1.69 million.
NAI Hunneman executive vice president/principal Carl Christie and investment sales specialist Dan McGee represented the seller, Lotus Investment Trust, and procured the buyer, KC Fall River Holdings, in the transaction.
Located at 9 Fifth Ave., the Fifth Ave. Apartments is a 24-unit, wood-framed building with 20 two-bedroom apartments and 4 one-bedroom units. The property, located close to I-495 and Rte. 24 and 138, has a brick-and-wood exterior and 24 off-street parking spaces for residents. Originally built as a school in 1912, the facility was converted to use as apartments in 1986, undergoing a complete gut rehab at the time.
"Fifth Ave. Apartments is an attractive, stabilized investment property," said Christie. "We were very pleased to help the seller realize the full value of this terrific asset through our representation in this transaction."
Headquartered in Boston, NAI Hunneman is a leading provider of commercial real estate services to corporations, institutions and the private market. NAI Hunneman is a member NAI Global, the premier network of independent commercial real estate firms and one of the largest commercial real estate service providers worldwide.
NAI Hunneman's Investment Services Group, which includes Robert Tito, David Ross, Carl Christie, Scott Dragos, Doug Jacoby, Gina Barroso, Dan McGee, Mitch Levey, Henry Lieber and Robert Tito Jr., specializes in the representation of both owners and purchasers of investment properties in Greater Boston and throughout New England.
NAI Global manages a network of 5,000 professionals and 350 offices in 55 countries throughout the world. NAI professionals work together with its global management team to help clients strategically optimize their real estate assets. NAI offices around the world complete over $45 billion in transactions annually, and manage over 200 million s/f of commercial space.