Northeast Private Client Group brokers four Lowell Buildings for $7.62 million: Massachusetts Homebuyers Homeownership 

Newton, MA – Northeast Private Client Group announced the sale of Market Street Mixed-Use, Walkway Condominiums, Chelmsford Street Condominiums, and Presidential Park Condominiums in Lowell, MA.
Senior Associates Drew Kirkland & Francis Saenz represented the sellers and procured the buyers for the mixed use transactions totaling seven million six hundred twenty thousand dollars. Investment associates Jim Casey and Brad Carlson also assisted in the deals.

 Market Street Mixed Use, located in Lowell, Massachusetts, sold for three million dollars, equating to a price of one hundred eighty seven thousand five hundred dollars per unit and a cap rate of 6.08 percent. The historic sixteen unit mixed use property sits in the heart of Downtown Lowell and consists of five (five) fully leased retail suites and eleven apartments. The apartments have one and two bedroom floorplans with off street parking and coin op laundry. Market Street Mixed-Use is a value add property where the new owner can renovate unit interiors and bring rents to market rates.

 Walkway Condominiums sit just across the river to the north of Market Street. The property sold for one million eight hundred fifty thousand dollars, for a price per unit of one hundred eighty five thousand dollars and a cap rate of 5.81 percent. The offering consists of ten seller owned two bedroom units in a thirty six unit complex. Walkway Condominiums was constructed in the 1980’s and received numerous renovations until 2010. Tenants enjoy ample off street parking, and each condo has a seller owned compact washer and dryer in unit. Condo fees include management, insurance, water/sewer, and exterior repairs.

 Chelmsford Street Condominiums is an eight unit multifamily asset with spacious two bedroom floor plans and 1985 construction. The property sold for one million five hundred thousand dollars, at a cap rate of 5.72 percent, and a price per unit of $187,500. It features both garage and off-street parking, and in unit washer and dryer hookups in private laundry rooms. Presidential Park Condominiums consist of eleven seller owned condominiums within the Presidential Park Condominium complex. This offering sold for one million two hundred seventy six dollars, equating to a price of one hundred sixteen thousand dollars per unit and a cap rate of 7.44 percent. This property features (seven) one bedroom and (four) two bedroom apartments. Also included with this purchase are off street parking, a common area, laundry room, and in place property management.

 Together, Senior Associates Drew Kirkland and Francis Saenz have closed a sale volume of over two hundred eighty five million dollars across one hundred ninety six transactions. Kirkland specializes in multifamily real estate portfolios, offices, shopping centers, and retail/mixed use properties throughout Connecticut and Massachusetts. While specializing in multifamily apartment buildings, Francis has helped numerous clients strategize with retail, office and mixed use buildings throughout Massachusetts. “Due to our local knowledge and track record in the area, we were chosen by the seller to bring this portfolio to market. We were able to maximize value for our client by running a competitive process and received multiple offers within a few weeks of marketing,” said Kirkland.

The post Northeast Private Client Group brokers four Lowell Buildings for $7.62 million appeared first on Boston Real Estate Times.

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Both seller's agent fees and buyer agent's fees are part of a typical real estate transaction and are included in the final negotiated purchase price of the property. There should be no additional fees to the buyer for a buyer's agent above and beyond the negotiated purchase price of a home unless specifically agreed in writing between the buyer and agent before an offer is made.

In most cases, the seller's agent pays the buyer's agent for bringing the buyer, negotiating the purchase price and terms, writing a legally correct offer, coordinating inspections, responses, and financing plus handling numerous additional details on the buyer's side of the transaction.

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