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Robert Johnson Of Johnson Construction Management Purchases Development Site In Melrose For $3.1M

Property Image
SOLD
$3,100,000

Massachusetts

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Development Site
Sold 08/22/2024
the dealdetailscomps
Property Image
SOLD

Robert Johnson Of Johnson Construction Management Purchases Development Site In Melrose For $3.1M

521 Franklin Street

See Similar Deals
Development Site
Sold 08/22/2024
the dealdetailscomps

Summary

MASSACHUSETTS
Asset Type:Development Site
Transaction Type:Sale

A development site located at 521 Franklin Street in Melrose, MA was sold for $3,100,000. The site will be the focus of a construction project that includes the alteration of the Corinthian Hall building as well as the addition of a 5-story residential structure featuring 34 units. This development will also encompass over 4,000 square feet dedicated to commercial space.

Summary of transation details:

  • Property Type: Development Site
  • Transaction Amount: $3,100,000
  • Buyer: Robert Johnson
  • Buyer Company: Johnson Construction Management
  • Construction Financing Secured: $10,300,000

Robert Johnson from Johnson Construction Management spearheaded this transaction. The development project is significant as it combines residential and commercial space in a single site, emphasizing the company's commitment to enhancing the local real estate landscape.

Details

SOLD
IMAGE: 08/22/2024 ADDRESS: 521 Franklin Street MARKET: Melrose, MA ASSET TYPE: Development Site BUYER: Robert Johnson - Johnson Construction Management SALE PRICE: $3,100,000 NOTE: Johnson Construction Management purchased 521 Franklin St. in Melrose for $3.1 million and secured $10.3 million in construction financing. The project will involve altering the Corinthian Hall building and adding a 5-story residential building with 34 units and over 4,000 square feet of commercial space.

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