Matthew Newman Of Newman Properties Acquires Multifamily Asset At 17 Sheafe Street For $3M

17 Sheafe Street is a four-story multifamily residential building located in Boston, MA, comprising seven fully gut-renovated units. The property features studio, one-bedroom, and two-bedroom apartments and is situated near the Freedom Trail and major MBTA transit access. The sale price for this asset was $3,000,000, equating to a price per unit of $428,571.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $3,000,000
• Units: 7
• Price per Unit: $428,571
• Buyer: Matthew Newman - Newman Properties
• Broker: AJ Arsta - Coldwell Banker

Matthew Newman, representing Newman Properties, was involved in the acquisition of the property alongside Atlantic Capital Commercial Real Estate, indicating a strategic investment in the North End of Boston.