North Shore Realty Advisors facilitates
Diamond District portfolio sale for $27.9 million

 

 

Lynn, MA North Shore Realty Advisors, Inc has completed the sale of 175 Ocean St. which was combined with the sale of 262-268 Ocean St. located in the Diamond District.

175 Ocean St. is a 6-story elevatored brick building with ocean views consisting of forty-six (46) residential units. The asset has a total gross s/f of 41,150 ± and rentable s/f of 34,251±, situated on a .4 Acre lot (17,494 ± s/f). The unit matrix consists of thirty-one (31) one-bedrooms, six (6) one-bedrooms plus dens, nine (9) two-bedrooms and twenty-three (23) surface parking spots. The building offers tenants laundry facilities on-site, bicycle storage and storage units.

262-268 Ocean St. is a 3-story garden style 1960’s brick building with ocean views consisting of fifty (50) residential units. The asset has a total gross s/f of 72,517± and a rentable s/f of 49,968 ±. It has a unit-mix of thirty-seven (37) one-bedrooms and thirteen (13) two-bedrooms with ocean views. Additionally, there are eight (8) underground parking spots and thirty-two (32) surface parking spots in the rear. The building offers tenants multiple on-site laundry facilities, fifty (50) storage units and a beautifully landscaped courtyard overlooking the ocean. This sale took place on 9/22/22 which was part of the sale of 175 Ocean St.

Dan and Sara Pouladian the seller and the buyer to purchase this package. The ninety-six (96) unit portfolio is one of the highlighted transactions of North Shore Realty Advisors, facilitating both sides of the transaction.