Musto Family LLC Acquires Office Property From Eastern Bank In Andover For $2.526M

The property involved in this transaction is located at 69 Park Street in Andover, MA. The asset type is classified as an office space, encompassing a total of 11,400 square feet. The sale price reached $2,526,000, which translates to a price per square foot of $222. This property is occupied by three tenants along with a vacant first-floor bank branch.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $2,526,000
• Address: 69 Park Street
• Market: Andover, MA
• Square Footage: 11,400
• Price Per Square Foot: $222
• Buyer: Musto Family LLC
• Seller: Eastern Bank
• Brokers: Brendan Coan & Richard Pilla - Paramount Partners

The transaction was facilitated by brokers Brendan Coan and Richard Pilla, representing Paramount Partners. They arranged the sale on behalf of the seller, Eastern Bank, while the buyer, Musto Family LLC, acquired the property. The presence of multiple tenants and a vacant bank branch adds to the profile of this transaction.