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Why MLS listings are important to appraisers - Dennis Chanski
June 9, 2023
When completing an appraisal there are many steps that appraisers must go through, from preparing to complete an inspection all the way through to signing and submitting the report. One of the biggest and most important aspects of completing an appraisal is to identify the best comparable sales to use in developing a credible opinion of value.
Residential appraisers at a crossroads - William Pastuszek
June 9, 2023
The Warren Group tells us that in Massachusetts, “the median sale price for both single-family homes and condominiums declined in April as the lack of inventory and elevated interest rates continued to weigh on market activity.” Single family sales declined 25% compared to 23 months ago. “Meanwhile, the median single-family sale price declined on a year-over-year basis for the first time since 2018
The Village Bank promotes Franklin, Werner and others
June 9, 2023
Newton, MA At The Village Bank’s annual meeting held earlier this month, president and CEO Joseph De Vito released the following officer promotions: Andy Franklin was promoted to executive vice president/chief lending officer. Franklin will continue to manage the strategic direction of all commercial, residential and consumer lending activities
Fantini & Gorga arranges $5 million in financing for
multifamily property in the Allston neighbo...
June 9, 2023
Boston, MA Fantini & Gorga arranged a $5 million first mortgage for a multifamily property in the Allston neighborhood. The non-recourse loan was placed with a local bank on behalf of the sponsor, Glen One LLC,
Gray Strategic Partners LLC launches to serve mergers & acquisitions market
June 9, 2023
Canton, MA Gray Strategic Partners, LLC, a new boutique investment banking firm, has launched operations with a focus on delivering comprehensive, end-to-end financial and strategic advisory services related to buying and selling businesses, mergers, joint ventures, strategic alliances
Spencer of North Easton Savings Bank elected to MBA board of directors
June 9, 2023
Easton, MA Rich Spencer, president and CEO of North Easton Savings Bank, has been elected to the 20-member board of directors of the Massachusetts Bankers Association (MBA) at its 2023 annual meeting. Founded in 1905, the MBA is the only association representing FDIC-insured community, regional, and nationwide banks
Washington Trust provides $3.9m for Berkeley Partners industrial property
June 9, 2023
Taunton, MA Berkeley Partners has secured $3.9 million in financing from Washington Trust’s Commercial Real Estate Group for the acquisition of a fully leased industrial property at 75 John Hancock Rd.
Eastern Bank provides financing for Grace by Nia, a new 5,000 s/f restaurant
June 9, 2023
Boston, MA Three of Boston’s award-winning business leaders in the hospitality and entertainment sector, Nia Grace — owner of Darryl’s Corner Bar & Kitchen and The Underground Café & Lounge — along with Ed Kane and Randy Greenstein — owners of Big Night Entertainment Group — have joined forces to open ‘Grace by Nia’, a modern-day supper club for which Eastern Bank is providing financing
JLL arranges $190 million in first mortgage refinancing for WS Development and Nuveen Real Estate
June 9, 2023
Dedham, MA JLL Capital Markets has arranged $190 million in first mortgage refinancing, led by Wells Fargo and Truist, for Legacy Place, a 675,000 s/f, high-performing, grocery-anchored lifestyle retail center. JLL worked on behalf of the borrower, WS Development and Nuveen Real Estate, to secure the loan through a two-bank syndicate.
Scaralia of Albert Realtors sells land for $550,000
June 9, 2023
Cranston, RI Albert Scaralia of Albert Realtors sold lots 8 and 37 at 0 Plainfield Pike for $550,000. The buyer intends to use the land for commercial condos.
Hogan’s Project ReGive collects for families in need
June 9, 2023
Newport, RI Now in its 9th year, Hogan Associates|Christie’s International Real Estate’s “Project ReGive” has collected over 12,000 gifts and household items for local families in need.
Greene of Compass sells 4,000 s/f Queen Anne Victorian for $1.605 million
June 9, 2023
Providence, RI According to Compass, the brokerage firm has sold 34 Irving Ave., a Queen Anne Victorian home in Wayland Sq. The property, represented by Compass agent Kira Greene, closed for $1.605 million, exceeding the asking price by more than 12%.
T.F. Green improvements ensure options for business travelers - by mayor Picozzi
June 9, 2023
As the city of Warwick increasingly gains attention from both local and out-of-state investors attracted to our central location, quality of life, affordability, and unique development opportunities, recent improvements and expansions at Rhode Island T.F. Green International Airport are helping to ensure more travel options and convenience for business travelers who are coming into Warwick or heading out of town for client meetings, conferences, and other company business.
Arpin Charitable Fund, Arpin Strong, commemorates 10th anniversary
June 9, 2023
West Warwick, RI More than 30,000 participants hit the streets of Boston on April 17, hoping to make history by completing the 26.2-mile marathon. This year marks the 127th marathon; however, top of mind for the athletes and spectators are the victims of the bombing that occurred a decade earlier.
City of Pawtucket to conduct 2024 statistical revaluation
June 9, 2023
Pawtucket, RI The city of Pawtucket will be conducting a statistical revaluation for 2024. The purpose of the revaluation is to reconcile property assessments to their full and fair cash value as of December 31, 2024. This year, the revaluation will only take place for properties that have sold during the past 18 months.
East Providence links environmental and economic success - by Keith Brynes
June 9, 2023
Over the past few years, the city of East Providence has stood out as one of New England’s economic success stories. The city has seen investment including relocations and expansions of international manufacturing firms and an unprecedented amount of housing development. While this economic progress has been significant, it has not come at the expense of the city’s environmental resources.
Mott & Chace sells 56 Elm St. land for $1.365 million
June 9, 2023
Barrington, RI Mott & Chace Sotheby’s International Realty brokered the sale of the vacant land at 56 Elm St. for $1.365 million. The buyers were represented by Midge Berkery of Mott & Chace Sotheby’s, and the sellers were represented by Emilio DiSpirito of Engel & Volkers.
Winoker of Belvoir celebrates 70th reunion at Brown University
June 9, 2023
Providence, RI James Winoker, CEO of Belvoir Properties was honored at his 70th Brown University reunion where he was given the opportunity to present the diploma to his graduating grandson.
Newsweek selects Washington Trust as “America’s Best Small Banks 2023” in R.I. for second stra...
June 9, 2023
Westerly, RI The Washington Trust Company (Washington Trust) said that the bank was once again selected by Newsweek to the annual list of “America’s Best Small Banks 2023” for the State of Rhode Island. This is the second straight year Washington Trust has received recognition
Carstensen of Mott & Chace Sotheby’s sells 4 Chartier Circle in Newport, RI for $5.5 million
June 9, 2023
Newport, RI Mott & Chace Sotheby’s International Realty negotiated the sale of 4 Chartier Circle for $5.5 million. The buyers were represented by Nicole Carstensen of Mott & Chace Sotheby’s. Justin Mandese of Real Broker, LLC represented the seller.