April 13, 2022 – Dennis Kelleher, John Pentore and Stephen Girolamo of Horvath & Tremblay have arranged the sale of 188 Cabot Street in Beverly, Massachusetts. Horvath & Tremblay represented the seller and procured the buyer to close the transaction at a sale price of $4,394,751, a per unit price of $274,672.
188 Cabot Street is a mixed-use property, containing sixteen (16) units in Beverly, Massachusetts. The property is comprised of a beautifully maintained three-story historic brick building with three retail suites, three office suites and ten condo-quality apartments made up of five (5), 1-Bedroom/1-Bathroom loft-style apartments, four (4), 1-Bedroom/1-Bathroom flats, and one (1), studio apartment with 18,957 square feet of living area in 26,282 total gross square feet on a 0.25-acre parcel. 188 Cabot Street is well located in a densely populated neighborhood in the heart of downtown Beverly. The building occupies an entire block and is situated along Cabot Street at the intersections of Cabot Street and Broadway and Cabot Street and Willis Street. The property is located less than 0.3-miles from Beverly Depot with service to Boston on the Newburyport/Rockport Line, and 1-mile from the Cummings Center, a two-million square foot, 77-acre campus that is home to more than 600 companies and 4,000 employees. 188 Cabot Street is also on the municipal bus line and is within walking distance to many downtown amenities, area shopping, and public transportation. The property offers convenient access to Routes 1, 1A, 128 and Interstate 95.
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.