July 31, 2023 – Stephen Girolamo of Horvath & Tremblay has arranged the sale of 5-7 Chestnut Street in Gloucester, Massachusetts. Girolamo represented the seller and procured the buyer to close the transaction at a sale price of $1,000,000.
The multi-family Property is located at 5-7 Chestnut Street in Gloucester, Massachusetts. The Multi-Family Property is comprised of four (4) residential units consisting of one (1), 3-Bedroom/1-Bathroom Townhouse unit and three (3), 2-Bedroom/1-Bathroom units with 3,640 square feet of living area in 5,708 square feet of gross area on 0.15-acre parcel of land. The Property is separately metered for electricity, heat and hot water and includes off-street parking for four vehicles. The Property is conveniently located on Chestnut Street in the heart of historic downtown Gloucester. Located adjacent to the intersection of Chestnut Street and Main Street, the Property is seconds from Rogers Street (MA Route 127) and the harbor, which are home to numerous retailers, restaurants, and businesses. The Property is also just over 1-mile from Yankee Division Highway. The two routes are the primary roadways going into and out of Gloucester, providing easy accessibility to the Property for both town residents and visitors. Located 30 miles north of Boston, Gloucester offers convenient access to the city and all of the North Shore via nearby Yankee Division Highway which connects to MA Route 128, Interstate 95, and US Route 1. Public Transportation is also easily accessed via several CATA Bus Routes in Gloucester and the commuter rail service to Boston’s North Station from the Manchester by the Sea and West Gloucester MBTA Train Stations.
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.