July 17, 2019 –Stephen Girolamo of Horvath & Tremblay has successfully completed the sale of 242 Main Street in Gloucester, MA for $1,250,000. Girolamo represented the sellers, Gary Gilbert and Chris Williams and procured the buyer, RCG, LLC.
242 Main Street is an 11-unit, mixed use investment property. Containing 8,031 square feet of leasable area on a 0.26-acre parcel, the fully leased property includes 5 store-front, street-level retail units and 6 residential units above and set-back from the retail. 242 Main features an attractive street-level façade, separately metered utilities, updated units, newer roof, a shared deck, and a large yard at the rear of the Property with a BBQ area and active community garden that is shared by the residential tenants. It is well-located on a high-traffic section of Main Street in Downtown Gloucester, just one block from Gloucester’s Inner Harbor. The vibrant retail corridor attracts both area residents and tourists visiting the many shops, restaurants and attractions in the area.
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.