Rich, Matt and Kurt Cawley of United Multi Family handle $910,000 sale

United Multi Family (UMF) brokered the sale of a 22-unit apartment building at 256 South Marshall St., for $910,000 ($41,364 per unit). Rich Cawley of the Boston office and Matt and Kurt Cawley of the UMF New York City office handled the sale. The brick residences were built in 1964 and comprised of 18 over sized one bedrooms and 4 studios. The property was sold by Maple Apartments LLC to Tower One Properties LLC with financing provided by Webster Bank. The CAP rate at the time of sale was 9.45% with the property having a gross annual income of $184,404.