49-Unit Multifamily Portfolio Sold In Worcester Massachusetts For $8.5 Million With Jimmy Kalogeropoulos As The Broker

A 49-unit multifamily portfolio located at 170 Lovell Street & 50 Heard Street in Worcester, MA has successfully closed for $8.5 million. The total square footage of the asset is 53,206, leading to a price per unit of $173,469 and a price per square foot of $160.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $8,500,000
• Units: 49
• Square Footage: 53,206
• Price Per Unit: $173,469
• Price Per Square Foot: $160
• Broker: Jimmy Kalogeropoulos - Re/Max

This transaction was notable for its off-market nature, reflecting the effectiveness of established relationships and strategic positioning in the multifamily market. Jimmy Kalogeropoulos represented a longtime owner throughout the closing process, ensuring a smooth transition while collaborating with Chris Panagiotidis of Simple Title and Peter Dawson of Mirick O’Connell, who provided valuable support during the transaction.