 (1).gif)
News:
Finance
Posted: May 12, 2011
NorthEast Community Bank closes $210,000 refinance for 6-unit apartment building
NorthEast Community Bank (NECB) recently closed a $210,000 refinance on a six unit, three story walk-up apartment building located at 146 Dover Ave.
The loan was written as a 5 year ARM with a 10 year term and 25 year amortization.
The property was recently upgraded with new windows, siding, mechanicals and in-unit laundry facilities.
"This refinance allows the borrowers to recoup some of their initial investment and capital improvements," said Daniel Berke, vice president of NECB. This transaction was arranged by Jeff Yoffe of GF Financial.
Tags:
Finance
MORE FROM Finance
Funding your project: Available, but expensive, in many ways - by Daniel Calano
How many of you remember real estate development in the late 1980s? Project sourcing was difficult, until it wasn’t. Into the 90’s, a few years after, banks and other financial institutions were very happy to fund projects.
 (1).gif)
Quick Hits
Columns and Thought Leadership
Reverse exchanges and the challenges of a competitive real estate market - by Michele Fitzpatrick
Our current, highly competitive real estate market poses specific challenges for investors who are considering taking advantage of a tax-deferred 1031 exchange. In this market, investors will have no problem selling their current property if priced properly, but they may find it difficult to find a suitable replacement property
Are appraisers on the same page as the assessor? - by Richard Seman
The purpose of this article is to address problematic or confusing issues which may help assessors and appraisers to better understand how to value real estate for tax assessment purposes.
Massachusetts real estate transfers over $1 million face new tax rules as of November 1st - by Daniel Meyer
Attention to owners of real estate in the Commonwealth (and the title companies and other professionals who advise them), the Massachusetts Department of Revenue (the “DOR”) recently adopted a new “millionaire’s tax” via 830 CMR 62B.2.4
The focus on price per s/f compared to the comparable sales used in the appraisal report - by Dennis Chanski
Over the past several weeks, I have completed appraisal assignments for private clients. Interestingly, after submitting these appraisals, I received several phone calls – not to question the value, content, or any incorrect information, but rather to discuss the price per s/f compared to the comparable sales used in the report.
