January 8, 2018 – Stephen Girolamo, Dennis Kelleher, and John Pentore of Horvath & Tremblay, have arranged the sale of 40-40R Stone Street in Beverly, Massachusetts. The property sold at a price of $1,990,000 and a price per unit of $165,833.
The Property consists of two garden-style apartment buildings located on a 0.439 acre parcel and are comprised of (12) two bedroom, one bathroom units with off-street parking spaces available for all tenants. Stone Street is situated just over the Beverly/Salem Bridge along a tree-lined residential street and is located within a two minute walk to Sandy Point Beach and three separate marinas and yacht clubs. The Property’s location offers residents easy access to the Newbury/Rockport Commuter Rail Station providing service to locations along the North Shore and into Boston. The Newbury/Rockport Line is located less than one half mile from the Property.
Horvath and Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in New England. Our advisors specialize in the sale of apartment buildings, mixed-use properties and development projects. We have experience successfully structuring portfolio sales and 1031 exchanges. We have a dedicated buy side desk that provides real time inventory and market data to each individual client placing capital or fulfilling a 1031 exchange requirement. The firm is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.