January 15, 2020 –Stephen Girolamo of Horvath & Tremblay has successfully completed the sale of 8 Fair Street in Gloucester for $811,000, closing at $135,166 per unit.
8 Fair Street is a 6-unit value-add apartment building situated in an excellent commuter location, just 1 mile from the Gloucester Commuter Rail Station. The Property sits on a .12-acre lot and contains 4,944 rentable square feet. The subject property consists of six, 2-bedroom units, separate utilities, and 6 off-street parking spaces. Gloucester is a city on Cape Ann in Essex County, Massachusetts, in the United States. It is part of Massachusetts’s North Shore, with over 30,000 residents. An important center of the fishing industry and a popular summer destination, Gloucester consists of an urban core on the north side of the harbor and the outlying neighborhoods of Annisquam, Bay View, Lanesville, Folly Cove, Magnolia, Riverdale, East Gloucester, and West Gloucester.
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.