United Properties Acquires Multifamily Asset At 88 Gerrish Avenue Chelsea For $16M

The property involved in the transaction is a multifamily asset located at 88 Gerrish Avenue, Chelsea, MA, comprising 53 units. The sale price of the property was $16,000,000, with a price per unit of $301,886. The total square footage of the property is 42,088, resulting in a price per square foot of $380.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $16,000,000
• Units: 53
• Price Per Unit: $301,886
• Square Footage: 42,088
• Price Per Square Foot: $380
• Buyer: United Properties
• Buyer's Representative: Dan Pouladian, Sara Pouladian & Michael McCarthy - North Shore Realty Advisors

North Shore Realty Advisors represented the buyer, United Properties, in this transaction, successfully procuring the buyer for the deal.