The asset involved in the transaction is a multifamily property located at 4 & 8 Rodney Street & 1565 E Rodney French Blvd in New Bedford, MA. The sale price for this property was $2,650,000. It features a total of 18 units, with a price per unit of $147,222. The property encompasses a square footage of 14,940, amounting to a price per square foot of $177.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $2,650,000
• Units: 18
• Price Per Unit: $147,222
• Square Footage: 14,940
• Price Per Square Foot: $177
• Buyer: Stephen Wilchins
• Seller: Kurt Pimentel
• Brokers: Richard Welch & Tim McGeary - NorthEast Private Client Group
• Date of Transaction: 10/15/2024

The transaction was conducted by brokers Richard Welch and Tim McGeary, who represented the seller in the deal. Stephen Wilchins emerged as the buyer, facilitating the acquisition of the multifamily property from Kurt Pimentel. The efficiency of the brokers played a key role in the successful closing of this transaction.