Northeast Private Client Group Sells Multifamily Property in Chelsea, MA for $8.5 Million
– Leading mid-market investment sales firm represents seller and sources buyer for multifamily property–
Newton, MA (January 1, 2020) – Investment sales broker Northeast Private Client Group has announced the sale of Chelsea Campus Apartments located at 181 Chestnut Street in Chelsea, MA. Drew Kirkland and Francis Saenz, senior associates for the firm, represented the seller and procured the buyer in the $8,500,000 transaction.
Chelsea Campus Apartments is a 32-unit multifamily property located in downtown Chelsea. The property was renovated in 2012 and consists of 32 one-bedroom units and 18 parking spaces. Chelsea based seller, Campus LLC, sold the property to Chelsea based buyer, The Neighborhood Developers, INC, for a price that equates to $265,625 per unit and a cap rate of 5.13 percent.
About Northeast Private Client Group
Northeast Private Client Group is a leading mid-market investment sales firm and has been named as one of the Inc5000 Fastest-Growing Private Companies in the US. With offices in New York, Connecticut, Rhode Island and Massachusetts, we provide unmatched results by combining specialized market intelligence with a relationship-based marketing strategy that caters to our individual clients’ needs. We have a proven track record of matching our clients with qualified buyers of multifamily and commercial properties in the submarkets we serve. Over the past ten years, our team has closed transactions with a total value over $1.3 billion.Our collaborative and research-driven solutions are tailored to meet the individual needs of investors and property owners across the Northeast who are looking to buy, sell or exchange mid-market properties, including mixed-use, multifamily, retail and office assets.
To learn more, visit: www.northeastpcg.com.