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Finance
Posted: January 13, 2011
United Multi Family brokers $4.25 million sale - Financed by Brookline Bank
United Multi Family brokered the sale of a 36 unit apartment building at 53,55,57 Washington St., for $4.25 million ($118,056 per unit).
The transaction was handled by Richard Cawley and Jason Braun of the New England office of United Multi Family.
The brick residences were built in 1965 and sold by The Johnson Realty Trust to Dande LLC.
The financing provided by Brookline Bank. The CAP rate at the time of sale was 6.68% with the property having a gross annual income of $464,220.
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Quick Hits
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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.
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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.
