Beverly Apartments Trade to Grossman Companies
Boston-based Foxfield sold one of its three residential properties in Beverly, reaping $11.125 million from the sale of 50 Broadway.
Boston-based Foxfield sold one of its three residential properties in Beverly, reaping $11.125 million from the sale of 50 Broadway.
Multifamily broker Travis D’Amato of Walker & Dunlop says these are indeed good times for buyers and sellers of apartment buildings in Greater Boston.
The one-two punch of rising interest rates and spiraling construction costs points to a slowdown in Greater Boston multifamily development, even as apartment rents and home prices shatter all-time records.
For developers looking for prime opportunities to build or buy multifamily properties in Massachusetts, the Interstate 495 submarket may offer some of the best returns.
JLL’s Michael Coyne and Travis D’Amato have joined Walker & Dunlop’s newly formed New England multifamily investment sales team as managing directors.