January 9, 2020 – Dennis Kelleher and John Pentore have successfully completed the sale of 17 Winter Street in Watertown, Ma. The 28-unit sold for $10,000,000 at a 3.74% cap rate. The duo exclusively represented the seller, Winter Park LLC, and buyer, Sabab Realty LLC.
17 Winter Street is a generational asset which has been under one ownership for the past 40 years. The property is a four-story, brick-style, apartment building containing 28 units in 28,302 square feet of livable area on a 0.61-acre parcel in the heart of Watertown Square. The Property features desirable unit counts, off-street parking for 33 vehicles, attractive landscaping, separately-metered electricity, individual balconies/patios and coin-operated laundry in the basement for all tenants.
17 Winter Street is situated in a fantastic urban infill location an amenity-rich residential neighborhood immediately adjacent to the Watertown Square commercial district. Watertown Square is a lively commercial district with numerous retailers, restaurants, nightlife and public transportation options. The location is only 6 miles from Downtown Boston and is appealing to commuters for its proximity to The Mass Pike (I-90), Storrow Drive and I-95/Route 128.
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.