Ermani Properties Acquires 30-Unit Multifamily Complex In Worcester For $6.3M

Ermani Properties of Worcester has acquired a 30-unit market-rate apartment complex located at 31 Caroline Street in Worcester for a total price of $6.3 million. The property features 30 units with an average price per unit of $210,000.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $6,300,000
• Address: 31 Caroline Street, Worcester, MA
• Buyer: Michael Ermani - Ermani Properties
• Seller: 31 Caroline Street, LLC
• Buyer's Representative: James Kalogeropoulos - Remax
• Seller's Representatives: David Eldredge & Tim Whittredge - NAI Capital

The buyer, Michael Ermani of Ermani Properties, acquired the 30-unit apartment complex with the assistance of James Kalogeropoulos from Remax acting as the buyer's representative. The seller, 31 Caroline Street, LLC, was represented by David Eldredge and Tim Whittredge of NAI Capital. This transaction marks an important investment for Ermani Properties in the Worcester market.