NAI Hunneman’s Capital Markets Group Brokers $11 Million Multifamily Sale
Christie, McGee & Lieber Represent Seller & Procure buyer in the Sale of 108-units in Lynn
BOSTON—NAI Hunneman, a leading provider of commercial real estate services, recently brokered the $11 million sale of a 108-unit, oceanside multifamily portfolio located at 40-60 Lewis Street and 11 & 17 Beach Road in Lynn, MA.
Executive Vice President/Principal Carl Christie, assisted by Sales Associates Dan McGee & Henry Lieber represented the seller Federal Realty Corp and procured the buyer Sawyer Realty Holdings.
“This was a fantastic opportunity to market a rare generational asset,” said Christie. “The portfolio represented a unique opportunity to acquire two (2) oceanfront apartment buildings as well as other quality buildings on Lewis Street in the Diamond District. The sale enabled the buyer to acquire a well-managed portfolio and add to their existing holdings in Lynn; while the sellers were able to achieve an attractive price and exit at the right time for their estate.”
Totaling 61 one- and two-bedroom units, 11 & 17 Beach are located next to each other and have spectacular direct ocean views. Beach Road is located in the “Diamond District” section of Lynn and is a sought after location for Lynn residents. The neighborhood is mostly residential with other multifamily and condominium buildings on Beach Road and along Lynn Shore drive.
The Lewis Street Properties total 47 one- and two bedroom units and are located in the southeastern section of Lynn in the Diamond District and close to Swampscott. Lewis Street (Route 129) includes a mix of residential and commercial properties.
Both areas are close to numerous amenities including Kings Beach and Red Rock Park. This area of Lynn and Swampscott offers nearby boutiques, bistros, cafes, ocean side restaurants, museums & historical societies, cultural & performing arts, and open markets.
About NAI Hunneman:
Headquartered in Boston, NAI Hunneman is a leading provider of commercial real estate services to corporations, institutions and the private market. NAI Hunneman is a member NAI Global, the premier network of independent commercial real estate firms and one of the largest commercial real estate service providers worldwide. NAI Global manages a network of 6,700 professionals and 375 offices throughout the world. NAI professionals work together with its global management team to help clients strategically optimize their real estate assets. To learn more about NAI Hunneman and the NAI Global Network please visit www.naihunneman.com.