August 20, 2019 – Dennis Kelleher and John Pentore, of Horvath & Tremblay, have arranged the sale of a 20-Unit rooming house located In Everett, Ma. Delivered vacant on sale, the former dormitory affiliated with the now closed Pope John Paul XXIII High School in Malden sold for $1,825,000. Kelleher and Pentore represented both seller, Winters Group, LLC and buyer, BREC LHP, LLC.
450 Ferry Street is located on a primary roadway in Everett on a 0.15-acre lot. The Property is made up of 20 bedrooms, 1 community room and 15 bathrooms with the potential for ample off-street parking. Currently licensed as a rooming house, favorable market conditions offer the opportunity for potential conversion to a variety of uses. The location offers convenient access to Route 1, Route 16, Route 99, Interstate-93, Assembly Row, Kendall Square and Downtown Boston. 450 Ferry Street is located less than 2-miles from Gateway Center, anchored by Costco, Home Depot & Target, and from the site of the new Encore Boston Harbor Resort & Casino.
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.