Northeast Private Client Group Sells Multifamily Property in Methuen for $11.65 Million
– Leading mid-market investment sales firm represents seller and sources buyer for multifamily property in Methuen, Massachusetts–
Newton, MA (December 13, 2019) – Real Estate investment services firm Northeast Private Client Group has announced the sale of Pelham Street Apartments located at 134-138 Pelham Street in Methuen, Massachusetts. Drew Kirkland, senior associate for the firm, together with investment associate, Francis Saenz, represented the seller and procured the buyer in the $11,650,000 transaction.
Pelham Street Apartments is a 73-unit multifamily property consisting of studio, one-bedroom and two-bedroom floor plans. Local seller, Pelham Place LLC, sold the property to local buyer, 2800 Lafayette Road LLC for a price that equates to $161,805 per unit, and a capitalization rate of 5.89% on the current net operating income.
About Northeast Private Client Group
Northeast Private Client Group is the leading mid-market investment sales firm in the region and was recently named to the Inc5000 list of America’s fastest-growing private companies. With offices in New York, Connecticut, Massachusetts and Rhode Island, the firm actively supports private investors looking to buy, sell or exchange mid-market properties including mixed-use, multifamily, retail and office assets. Northeast Private Client Group’s highly disciplined process is just one of the many reasons the firm has earned CoStar’s Power Broker designation year after year. To learn more, visit: www.northeastpcg.com.