Northeast Private Client Group Sells Development Property in Revere, MA for $2,055,000

Francis Saenz and Drew Kirkland of Northeast Private Client Group broker $2,055,000 sale of Washington Ave. Development in Revere, MA.

 

–Leading mid-market investment sales firm represents the seller and sources the buyer for the development property in Revere, Massachusetts–

 

Newton, MA (February 16, 2021) – Real estate investment services firm Northeast Private Client Group (NEPCG) has announced the sale of Washington Ave. Development located at 257 Washington Ave. in Revere, Massachusetts. Senior associates Francis Saenz and Drew Kirkland along with Investment Associates Jim Casey and Brad Carlson represented the seller and procured the buyer in the $2,055,000 transaction.

 

The Washington Ave. Development is a fully approved 36-unit residential development featuring on-site parking just five miles north of downtown Boston in West Revere. The building will consist of eight (8) studios, ten (10) one-bedroom & 18 two-bedroom/two-bath floor plans. All the units will include an in-unit washer/dryer. The second and third-floor units also have balconies and ground-level garage parking for tenants. The development opportunity sits on three vacant lots totaling 24,823 SF.

 

“Over the last few years, the Boston Planning and Development Agency has permitted millions of square feet in new development. There is a great amount of demand for residential apartments and a shovel ready project is very desirable. After marketing the project for a short amount of time we were able to negotiate a contract with a local developer.” -Francis Saenz, Senior Associate

 

Francis Saenz and Drew Kirkland have risen through the ranks and now serve as Senior Associates of Northeast Private Client Group and co-leaders of the North Boston investment sales team in the firm’s Newton, MA office.

Together, Francis and Drew have closed an average of over $18 Million in sales annually and greater than $82 Million total. While specializing in apartment buildings, Francis has helped numerous clients strategize with retail, office & mixed-use buildings throughout Greater Boston. Drew specializes in multifamily portfolios, offices, shopping centers, and retail/mixed-use properties throughout Connecticut and Massachusetts.

 

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, and Massachusetts, 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.