July 22, 2019 – Dennis Kelleher and John Pentore of Horvath & Tremblay have successfully completed the sale of 230-232 Norfolk Street in Cambridge, Ma for $4,000,000, selling for $571,428 per unit.
230-232 Norfolk Street consists of two buildings on one tax parcel: 232 Norfolk Street, a 6-unit multi-family home at the front of the parcel and 230 Norfolk Street, a single-family home at the rear of the parcel. A shared yard separates the two homes. In total, the Property contains 7 units in 8,527 square feet of living space on a 0.11-acre lot (5,000 SF). The Property is well-located on an attractive, high-density, residential street between Kendall Square and Inman Square, within walking distance to both commercial centers, as well as to numerous shopping, dining and entertainment options, outdoor spaces and public transportation options. The residential area has the second highest population density in the City of Cambridge. Apartment demand in the neighborhood is driven by a diverse mix of families, white collar professionals, blue collar workers, and graduate students, employees and faculty from nearby MIT and Harvard University.
Horvath and Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in New England. Their advisors specialize in the sale of apartment buildings, mixed-use properties, and development projects. They have experience successfully structuring portfolio sales and 1031 exchanges. They 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.