August 15, 2019 –Stephen Girolamo of Horvath & Tremblay has successfully completed the sale of 14 Pond Street in Beverly, closing at a 4.89% cap.
14 Pond Street, a 5-unit value-add apartment building, is situated in an excellent commuter location, less than ½ to the Beverly Depot Commuter Rail Station. The subject property consists of five, 1-bedroom apartments, separate utilities and 10 off-street parking spaces for tenants. Beverly is a suburban city of approximately 41,000 residents located 17 miles northeast of Boston along the coast. Beverly has excellent access to Route 128, fiver commuter rail stations, a golf and tennis club, two marinas, five public beaches and a municipal airport making it an easy place to work or live.
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.