News:
Owners Developers & Managers
Posted: August 12, 2022
North Shore Realty Advisors, Inc. negotiates $13.5m sale of The Beaconsfield Apartments
Lynn, MA Dan and Sara Pouladian of North Shore Realty Advisors, Inc. completed the sale of The Beaconsfield Apartments located at 12-16 Newhall St.This 55-unit asset sold for $13.5 million which equates to $245,454 per unit. The unit-mix consists of five studios, 32 one-bedrooms, six one-bedrooms plus den, and 12 two-bedrooms.
Pouladian represented the seller and procured the buyer from a prior sale Pouladian completed as a 1031 exchange. Matt LaFlamme from North Shore Bank secured the loan.
The Beaconsfield was built in 1873 and originally known as the Beaconsfield Hotel. The property boasts character and charm with hardwood floors throughout, detailed moldings and a passenger elevator. The property is located in the Diamond District of the city and near the commuter rail, Nahant Beach and amenities.
The property is a six-story, 55-unit brick apartment building with 11 surface parking spots.
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