Updated Sep 30, 2026
Nor Morenzi Purchases Multifamily Asset From James Celico For $1,529,000 In Barrington RI
53 Maple Ave, Barrington & 251 High St, Cumberland
$1,529,000
$211/SF
Building Size
7,229 SF
Asset Type
MultiFamily
Closing
Sep 10, 2026
About this deal
AI
The transaction involved a multifamily asset comprising 6 units located at 53 Maple Avenue & 251 High Street in Barrington & Cumberland, RI. The sale price was recorded at $1,529,000, with a price per unit of $254,833 and a price per square foot of $211. The total square footage of the property is 7,229.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,529,000
- Units: 6
- Square Footage: 7,229
- Price Per Unit: $254,833
- Price Per Square Foot: $211
- Buyer: Nor Morenzi
- Seller: James Celico
- Broker: Josh Morris - New England Apartment Group
- Date of Transaction: 09/10/2026
- Address: 53 Maple Avenue & 251 High Street
- Market: Barrington & Cumberland, RI
Nor Morenzi acted as the buyer in the transaction, while James Celico served as the seller. The deal was facilitated by Josh Morris, representing the buyer through New England Apartment Group.
On the Map
$1,529,000
$211/SF
MultiFamily
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Players
Cumberland MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
10.37%
Cash-on-Cash
-2.97%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93