second quarter 2016 vmz - greater boston real estate board · bill crocker client manager (617)...

Bay State Apartment Owner1

BAYSTATE SECOND QUARTER 2016

OFFICIAL MAGAZINE OF THE RENTAL HOUSING ASSOCIATION

L I V E PLAY Competing For Residents With

Lifestyle Amenities

WORK

AVA Theater District, rooftop lounge

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Some Recent Multifamily Closings

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[email protected]

Benjamin DrussVice [email protected]

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Celebrating our Twelfth Year of Total Dedication to FHA Financing and Client Service


Inside BSAO2

LIFESTYLE FAMILY HOUSING

competing with amenities + pairing your

prospects

WOLLINGER GETS the call to the hall

MY GENERATIONthe next wave ready

to carry RHA

THE LEGAL WATCH

rights and responsibilities in domestic violence

IT’S COOKOUT SEASON

join the RHA for family fun Cookout at Gillette

QSECOND QUARTER 2016 TABLE OF CONTENTS

6

9

14

20

17

25THE REAL

Reporter®PUBLISHED BY

19FROM WASHINGTONMaking Good Decisions

6 UNIT MULTI N. ENDTRADES FOR $4.25M

Q2 multifamily sales continue hot market in rise


For many years, a hard copy of the magazine was included

in a quarterly mailing to all RHA members. Increased costs

for delivery and production out stripped revenue. Longer lead

times made stories less timely. In short, the print edition was

no longer financially feasible.

RHA has decided to partner with the publisher of The Real

Reporter in the production and dissemination of a new digital

edition of The Bay State Apartment Owner. The Real Reporter

enjoys a stellar reputation for over ten years of reporting and

analysis of commercial real estate news. The magazine will

be available directly from the RHA website and through a link

from The Real Reporter

What is new? As you can see, The Bay State Apartment

owner has been re-branded with a new logo, and a new

look. Content is timely, and much of the reporting will be

a collaborative effort between both the Rental Housing

Association and The Real Reporter. One thing has not

changed; the magazine will continue to be a benefit of

membership in RHA.

I hope you enjoy this current issue. Inside, our feature story

focuses on the “Live Work Play” trend that is emerging in our

industry. Housing developers are embracing a mix of housing

and retail in proximity to work places to create a new dynamic

in how we look at residential development.

As always, your feedback is welcome. What would you like

to see in future issues?

PRESIDENT’S MESSAGE

WELCOME TO THERE-LAUNCH OF BAY STATEAPARTMENT OWNER The Official Publication Of The Rental Housing Association

Sarah Mathewson Senior Vice President, Property Operations

for AvalonBay Communities and 2016 President of the Rental Housing Association

BAYSTATE

The new magazine nameplate

WELCOME TO THERE-LAUNCH OF BAY STATEAPARTMENT OWNER The Official Publication Of The Rental Housing Association

Credit is subject to approval. Rates and programs are subject to change; certain restrictions apply. ©2016 JPMorgan Chase & Co. All rights reserved. Chase is a marketing name for certain businesses of JPMorgan Chase & Co. and JPMorgan Chase Bank, N.A., Member FDIC. 193423

Don’t be left out of a great real estate opportunity because you aren’t ready to act. Your local Chase team can help you execute quickly on your next purchase or refi nance of a stabilized apartment building.

Contact us today to see how Chase can save you time and money on your next opportunity.

Opportunity doesn’t wait. Neither should you.

Low Fees | Streamlined Process | Best-in-Class Service

Bill CrockerClient Manager(617) [email protected]

Daniel VassermanClient Associate(617) [email protected]


Did you know that the Millennials now represent more than 25% of

the nation’s population? This number has surpassed the Baby Boomers and

Generation X, making Millennials the largest generation ever. As the work-

force population changes with the generational tides, the demand for new

technology, trends, and workplace philosophies will transform as well.

Want To Help Make Waves? A committee of 20 volunteer industry professionals from the areas of

property management, maintenance, insurance, legal, restoration, and

finance meet monthly to brainstorm seminars, events and meetups.

From informal gatherings at various locations in Massachusetts, to sneak

preview tours at newly constructed apartment communities, NextGen offers

members the opportunity to network in a casual and friendly environment,

while building strong professional relationships. Just a few months ago,

AVA Back Bay hosted an evening for NextGenners where members were

able to ask open questions to a few of AvalonBay’s leaders including Sarah

Mathewson, Senior Vice President of Property Operations (and RHA’s 2016

President)!

We were given VIP tours of the community and took in the view of Boston

from an apartment on the 10th floor.

TALKIN BOUT MY

GENERATION

Courtney Mathiowitz 2016 NextGen Chairperson

Associate Director of Marketing

at HallKeen Management

CALLING ALL FUTURE LEADERS! I give you full permission to text-snapchat-instagram-tweet-

hashtag-pin-vox-link and repost this information...


In February, we attended an event and insid-

er’s tour at Ink Block and mingled with Ted Tye of

National Development and John Martin of Elkus

Manfredi Architects. In March, we hosted a panel

of past RHA Award of Excellence Winners for an

open Q & A forum.

These events encourage the opportunity to

foster relationships with high level executives

as well as your peers in the industry – all just by

being a member.

While leaders do come in all ages and ex-

perience, RHA NextGen group’s mission is to

cultivate future leadership by uniting industry

professionals through education, mentorship,

and networking. Now in its 5th year, NextGen has

over 120 members and has played a major role in

the continued growth of RHA Membership.

Typical Member Profile• Career-oriented

• New to the workforce or new the industry (typically less than 10 years)

• Interested in industry trends

• Looking to build professional relationships

• Loves the apartment industry!

How To Join New to RHA? Try the Test Drive! Take your 1st year membership for a spin for just $50!

Already an RHA member? Ask to join NextGen for no additional cost!

Get involved ! Join the NextGen committee and meet with peers on a monthly basis.

Email Joshua Cooke, [email protected] to sign up. Welcome to NextGen!

MEMBER TESTIMONIALS“NextGen is the common platform that brings us

together to share new trends, learn about other’s

experiences and reach new goals in our industry.” - Nicole (Stone) Cameron, NALP, C3P | WinnCompanies

“Joining NextGen has opened my professional net-

work to new heights and is only continuing to grow.” –Jared Gardner | Corcoran Management Company

“Educational, well-attended, fresh and interesting.” – Paula Solemina | Pro-Care Inc.

“Being a part of NextGen gives me the opportunity to meet and connect with my fellow peers that are in the same position in their careers as I am.” – Jeffrey Winnick | Swerling Milton Winnick Public Insurance Adjusters, Inc.

“NextGen allows me to become acquainted with my industry colleagues on a more personal and intimate level, further strengthening and solidifying the relation-

ships.” – Daniel M. Vasserman | JPMorgan Chase & Co.

Top Reasons to Join1. Career Development - Tap into expertise

and open doors you may not otherwise have access to

2. Connections & Networking - Increase your connections and always know the right person to call. It’s not what you know, but who you know!

3. Get Noticed - Add your involvement to your resume and LinkedIn profile

4. Generate New Business - Referrals are always the best qualified lead

5. Increase Your Confidence - Push yourself to meet new people and step out of your comfort zone

6. Stay Ahead of Industry Trends - Educate your-self on emerging technologies & developments

7. Make Lasting Friendships - The best way to find your healthy work-life balance

8. Mentorship - Pair up with an industry executive or peer role model

9. Professional Trainings - Attend seminars and trainings to help you achieve in your career

10. Discounts – Receive discounted pricing to industry events


COLLABORATIVE CULTURE RELATIONSHIP FOCUSED

DEFINED EXPERTISE

w w w . H TA p a r t m e n t s . c o m600 Market Street – Suite 686 | Lynnfield, MA 01940 | Main: 781-776-4000 | Fax: 781-823-0245 | [email protected]

UNDER

CONTRACT

6 Blair PlaceCambridge, MA

CLOSED

62 Spring StreetCambridge, MA

$2,050,000

279 Western AvenueCambridge, MA

$2,385,000

CLOSED

44 Clay StreetCambridge, MA

$1,360,000

CLOSED

7-9 Sparhawk StreetBoston, MA

UNDER

CONTRACT

23 Cottage AvenueSomerville, MA

$1,565,000

CLOSED DAVIS SQUAREDAVIS SQUARE

Direct: (781) 776-4004Mobile: (617) 945-6915

[email protected]

John PentoreSenior Associate

Direct: (781) 776-4002Mobile: (978) 702-7032

[email protected]

Dennis KelleherVice President


BY JAY FITZGERALD

f multifamily housing developers have learned one thing about the

“live-work-play” phenomenon in their industry, it’s this: It’s not a one-

size-fits-all proposition.

The image of the classic “live-work-play” community is of a new or

renovated multifamily structure with ground-floor retail, nestled in an

urban neighborhood with easy access to an array of amenities such as

restaurants, museums, parks, mass transit, boutique food stores, bars,

coffee shops, office buildings and other residential dwellings. The classic

residents are either hip young professionals or empty-nester adults.

But industry officials say that while those stereotypes still generally

hold true, the market in Greater Boston is constantly shifting in terms

of who wants what - and where and when. Increasingly, developers are

finding, for instance, that young families, with children, are also expressing

demand for urban housing – and the accompanying amenities families

require, such as indoor playrooms and outdoor playgrounds.

LIVE WORK

PLAYI

Top pictures: exterior & interior Loft 23, Cambridge, Managed by ForestCity Bottom: AVA Theater District by Avalon


Older non-Millennial workers also want to

live in urban environments, though they

may not be so keen on building amenities

demanded by younger professionals, such

as landlord organized happy hours or roof-

top parties.

And speaking of urban settings, some

people, either by choice or due to work

requirements, don’t want to live in cities,

big or small. They want or need suburban

housing – but in an “urban-like” setting

with nearby restaurants and shops that they

can walk to easily. They also own cars in

need of parking spaces.

“We’re all trying to figure it all out,” said

Peter Sougarides, a principal at Samuels

& Associates, best known for develop-

ing properties in Boston’s now booming

Fenway, including the 576-unit Trilogy and

the 200-unit 1330 Boylston. “There’s no

formula book telling you what to do. It’s

constantly evolving, constantly changing.”

“There are people in my industry

spending all their time looking at the mar-

ket and trying to anticipate what people

want next,” said Kelly Saito, managing

partner at Gerding Edlen, developer of the

38-unit Factory 63, in a former industrial

building in Boston’s Fort Point area, and

the built-from-scratch, 202-unit 315 on A

(sold last year to Equity Residential), right

across the street from Factory 63.

Gerding Edlen’s Seaport developments

are a perfect case in point that there’s no

cookie-cutter approach to live-work-play

apartments, also known as “lifestyle” multi-

family housing.

Factory 63 is a classic brick-and-beam

building, renovated into mostly small stu-

dios of about 500-square-feet each and

aimed at young Millennial workers, who

like congregating together in communal

settings, such as the building’s ground-

floor gathering place that resembles a

“large living room,” said Saito. The ground-

floor space is open to the public.

But the twenty-story 315 on A (i.e.

A Street) is more high-end and geared

toward a more mixed, slightly older crowd,

including empty-nester tenants in their 50s

and 60s, with larger one- and two-bed-

room apartments fetching higher rents.

The ground-floor is also used for tenant

gatherings, but it also has galleries for the

arts and it’s most definitely not open to the

public.

So right across the street from each

other are two “live-work-play” apartment

buildings, both serving slightly different

markets, with some overlaps. “We’ve had

some tenants who started out a Factory 63

and then move over to 315 on A because

they wanted a change,” said Saito.

Even then, the differences don’t mean

that each building stays exactly the same.

Within them, there are constant changes,

as tenants demand new, unique services

and amenities.

Saito notes, for instance, that younger

people are far more likely to order online

every-day household items, from food to

toilet paper, and have them delivered to

pictured: Samuels & Associates’ The Launch at Hingham Shipyard has summer outdoor movie nights for residents as well as visitors to restau-rants and shops


their apartments. So Gerding Edlen has had to ef-

fectively build “package rooms” to accept deliveries

at Factory 63. The firm is also now starting to put in

“automated lockers” so tenants can pick up items.

“Just that one new phenomenon has so many

ripple effects,” he said of online deliveries to

buildings. “The shear volume of packages being

delivered has grown by astronomical amounts.”

Lauren Paton, the regional Northeast manager

of Forest City Realty Trust, said there’s no doubt

that there are different demographic factions and

needs within the overall live-work-play segment.

Younger tenants want a “hip vibe” – with small-

er, sparser apartments and more communal spaces

for Friday beer gatherings or roof-deck parties.

“It’s kind of like a grown-up dormitory,” she said.

Meanwhile, older tenants want a more subdued

atmosphere with extra space for yoga classes and

fitness centers, not parties.

Forest City runs three multifamily complexes

in the Boston area: the 240-unit Radian apart-

ment building at 120 Kingston Street, the 531-unit,

four-building University Park in Cambridge, and the

305-unit Hamel Mill Lofts, in a converted mill in

Haverhill.

Opened a few years ago, Radian is Forest City’s

stab at trying to capture both young professional

Millennials and empty nesters – and anyone in be-

tween. Rents range from $2,500 for a 564-square-

foot studio to $8,500 for a 3-bedroom penthouse

apartment. For family gatherings, Radian offers a

communal “catering kitchen” and dining room that

tenants can reserve for events, she notes.

No matter what the amenities provided by

developers within buildings, Paton said the most

important amenity, at least for urban living, is the

street life outside – the buzz, the restaurants, the

shops, the access to mass transit. Radian is located

at the crossroads of Boston’s Leather District, Chi-

natown and the Financial District, she notes.

“Ultimately, it’s all about location and conve-

nience,” she said. “People live very busy lives and

they want things close by. The gift of time is really

important to them.”

Some development companies are now

branding the different types of segments within the

overarching “live, work, play” field.

AvalonBay Communities breaks its holdings

down into three brand categories: The Avalon

brand (for higher-end tenants, often empty nesters

People live Very busy lives and they want things close by. The gift of time is really Important to them.Lauren Paton, NE ManagerForestCity Realty

pictured: Recreation Room of Watermark Seaport, developed by Skanska and Twining Properties


and older professionals who demand more luxuri-

ous amenities); the Ava brand (aimed at the young

“hip” crowd who require smaller and more sparse

units); and the Eaves brand (generally “value living”

for all demographic groups, usually in suburban

settings).

Peter Erdos, a general manager at AvalonBay,

said branding multifamily housing by categories is

not unlike what hotels do with their multiple types

of hotel brands aimed at slightly different custom-

ers. Erdos himself is former hotel-industry manager

– and he’s convinced branding of multifamily com-

plexes works for both companies and the tenants.

Erdos, who manages both Ava and Avalon

properties in Boston, said one of the buildings he

manages in Boston is Ava Back Bay, a 1960s build-

ing renovated into 271 units two years ago, with

studios ranging in size of 600 to 700 square feet

(with rents around $3,000) and one- and two-bed-

room units (with rents ranging from about $3,000

to $4,500 and up). Ava Back Bay has lounge spaces,

a game room, bicycle stands and even a small bike

repair shop.

In general, for all types of urban multifamily

housing complexes, one amenity trend that Erdos

takes note of is a demand for more outdoor space

(gardens, patios or roof-decks). It’s call for com-

mon areas, for tenants to meet people, and fitness

centers, and yoga-class areas, is also stronger than

ever, he said.

“The bottom line is that everything is about

style, but everything can be a different style,” says

Erdos. “It doesn’t all have to be the same.”

In Boston, competition for apartment tenants is

stiff, so offering high-quality amenities and (man-

agement) services are key, right down to “quickly

replacing the light bulbs,” he adds. “You have to

stay on your toes and be flexible … Quality service

is key.”

Patrick McMahon, director of development at

Federal Realty Investment Trust, the lead developer

of Somerville’s massive Assembly Square projects,

says AvalonBay has already built two multifamily

buildings, containing at total of 448 apartment

units, at his firm’s development site in Somerville.

One is an Ava branded building, aimed at younger

professionals, and the other is aimed at a broader

market and has larger apartments.

pictured: Lounge at 315 on A, managed by Equity Residential and rooftop pool & outdoor lounge at One Canal an Aimco property

The bottom line is that everything is about style, but everything can be a different style,” says Erdos. “It doesn’t all have to be the samePeter Erdos, General Manager at AvalonBay


Now Federal Realty has embarked, on its own without

AvalonBay, on building 447 additional units at Assembly

Square, aimed at a broad cross-section of future tenants. The

new complex will include a terrace pool, bocce court, gar-

den plots, and a small outside park for general use, as many

tenants today are now demanding, McMahon said.

Construction of this “second phase’ of multifamily

housing at Assembly Square followed extensive marketing

research on the types of tenants looking for housing in the

Boston area – and the research showed there was still strong

demand for apartments from young families with children

and empty nesters.

“The market is very competitive and required us to be

innovative and creative in how we approached this,” he said.

“There’s no one-size-fits-all approach to these projects.”

Ted Tye, head of National Development, the developer of

the giant Ink Block project at the site of the former Boston

Herald complex in Boston, said he’s personally and profes-

sionally witnessed the evolving nature of the “live-work-play”

phenomenon over the years.

He noted that his company, last decade, developed Med-

ford’s Station Landing – with 600 apartments, 127 condos

and 100,000 square feet of retail space – in the belief people

wanted convenient urban living near public transit stops,

in Station Landing’s case near the Wellington T station. But

finance was hard to come by at that time.

“Lenders weren’t recognizing the trend and were often

shy about lending for such projects,” he said.

But now banks are much more willing, almost eager, to

fund mixed-used projects with a combination of multifamily

housing, retail and offices. That’s what ultimately has made

Ink Block – with 315 apartments, 77 condos and 80,000

square feet of space – possible in recent years, Tye said. Ink

Block is aimed at both young professionals and empty nest-

ers, tilting toward the younger hip crowd, and the “surround-

ing street life is ultimately the big amenity,” he said.

“In a way, we’re all returning to how neighborhoods were

originally laid out,” Tye said. “In the 1800s, they didn’t have

cars, so people had to be close to stores and shops and plac-

es of work. People had to walk to where they wanted to go.

We got away from that in the 1900s, but now we’re returning

back to it. That’s what is going on.”

www.masshousingrental.comMission. Value. Service.

MassHousing’s Workforce Housing FundMany middle-income families are struggling with the high

cost of housing in Massachusetts.

Our new $100 million Workforce Housing Fund offers

developers a new source of subsidies to build apartments

for middle-income renters.

To find out how this fund could be used in your next

mixed-income development, please visit

www.masshousingrental.com

Gateway Residences (above) is the first development to receive workforce housing funds. Gateway Residences is a 71-unit, mixed-income development in Lynn receiving financing for 10 workforce housing units.

Gateway Residences, Lynn


William (Bill) Wollinger, SHCM, CAPS, Chief Operating Officer

and member of the Board of Directors for Boston-based WinnCom-

panies, was inducted into the NAA Hall of Fame during the 2016 NAA

Education Conference & Exposition. Induction into the NAA Hall of

Fame represents the highest honor that can be bestowed upon an

apartment professional. Wollinger is the 19th person inducted during

the 77-year history of NAA.

“I am humbled to be considered among those individuals who

are members of the National Apartment Association Hall of Fame,”

Wollinger said. “Receiving recognition for one’s contributions and be-

ing selected by peers in an industry in which I have served for 45 years

is incredibly rewarding. This is the honor of a lifetime.”

Wollinger has worked in property management since 1971, serving

WinnCompanies for more than 35 of those years. Collaborating with

the board of directors and senior leaders, Wollinger helps define the

company’s vision; ensuring the implementation of the company’s

objectives while delivering high-quality services to its clients and

residents.

An active member of NAA, as well as his local associations,

Wollinger’s true passion lies in education. After serving as the 2006-

2007 NAAEI President, Wollinger was called upon to reprise his role

in 2012 when the individual slated as the next president was unable

to serve. Wollinger did so graciously, most notably championing for

NAAEI to host its first Military Career Fair at the 2013 NAA Education

Conference & Exposition in San Diego.

He has eagerly assisted in the implementation of Residential Prop-

Bill Wollinger Inducted Into NAA Hall of Fame

William (Bill) Wollinger SHCM, CAPS, Chief Operating

Officer & member of the Board

of Directors for Boston-based

WinnCompanies

Bill is the consummate association volunteer

leader ... He has a contagious passion for our

industry, is a champion of NAA and Education

institute products, events and services, is a strategic

thinker, and—most importantly—leads by example and walks the

walk.Maureen Lambe, CAE, Executive Vice President of NAAEI

HALL OF FAME WINNER


Bill Wollinger Inducted Into NAA Hall of Fame

erty Management (RPM) programs nationwide; introduced

NAAEI’s ACE Awards; initiated the development of NAAEI’s

Leadership initiatives with GALLUP and Dale Carnegie; helped

establish annual Apartment Careers Month; served as a key

driver of the initial NAAEI Capital Campaign; and was instru-

mental in championing the concept of centralized national

training through NAAEI.

Leading NAAEI by example, Wollinger’s company has more

NAAEI-credentialed employees than any other. He has fully

embraced NAAEI’s leadership initiatives, putting over 110 em-

ployees through Dale Carnegie and Gallup training.

“Bill is the consummate association volunteer leader,” says

Maureen Lambe, CAE, Executive Vice President of NAAEI. “He

has a contagious passion for our industry, is a champion of

NAA and Education Institute products, events and services,

is a strategic thinker, and—most importantly—leads by ex-

ample and walks the walk. It has been an honor and pleasure

working with Bill to fulfill the mission of the NAA Education

Institute.”

Added NAA President & CEO, Doug Culkin, CAE, “Bill’s

greatest contribution to this industry has been his work in ed-

ucation and membership growth, but he is a true NAA Renais-

sance man. He is extremely deserving of this award for all he

has given to NAA.”

In addition to his work with NAAEI, Wollinger was the NAA

Membership Growth Task Force Chair in 2014 and 2015—

spearheading development of membership strategies that

supported NAA’s growth. During that time, NAA increased its

membership by over 1 million apartments.

Wollinger led efforts to grow NAA in markets such as New

York City, Cleveland and Minnesota, and worked tirelessly to

communicate the NAA value proposition to his peers.

Prior to joining WinnCompanies, Wollinger served as an

officer in the United States Army, with an extended tour of

duty in Vietnam as a Medical Evacuation helicopter pilot, flying

more than 2,000 combat missions. He holds a Bachelor of

Science from the University of Massachusetts Amherst.

Always you.

CSB-15-017_CSB_CommercialRE_5x7_25_RealReporter.indd 1 4/26/16 3:59 PM

Creative bankers?Don’t laugh, they do exist.

Always you.

When it comes to commercial real estate, one size doesn’t fi t all. That’s

why at Cambridge Savings Bank we take the time to craft individual

lending solutions that truly match your specifi c needs. We take great

pride in being nimble, responsive, and always focused on you.

For more information call Daryl Smith at 617.441.4264 or

Michael Lindgren at 617.441.4122 or visit cambridgesavings.com

CSB-15-017_CSB_CommercialRE_5x7_25_RealReporter.indd 1 4/26/16 3:59 PM

Creative bankers?Don’t laugh, they do exist.When it comes to commercial real estate, one size doesn’t fit all. That’s why at Cambridge Savings Bank we take the time to craft individual lending solutions that truly match your specific needs. We take great pride in being nimble, responsive, and always focused on you.

For more information call Daryl Smith at 617.441.4264 or Michael Lindgren at 617.441.4122 or visit cambridgesavings.com


You come to your office Monday morning to learn that over the weekend there was a major distur-

bance in one apartment. There was yelling and swearing, fighting, and damage to the apartment. Lots of

neighbors complained. The police had to be called to calm things down. One person was arrested.

This disturbance was certainly a serious breach of the lease, so you are sure you can evict the resident.

But can you? Probably not if the resident was the victim of domestic violence.

The federal Violence Against Women Act and the Massachusetts Victims of Domestic Violence Act pro-

vide numerous protections for victims of domestic violence. It is important that landlords understand these

statutes and know how they are applicable to various situations.

The Violence Against Women Act was enacted in January, 2006, later allowed to expire, and then

reenacted in February, 2013. It provides that a landlord may not construe incidents of actual or threatened

domestic violence as serious or repeated violations of the lease by the victim of the violence and may not

use those incidents as good cause for terminating the victim’s tenancy. Likewise, criminal activity directly

related to domestic violence by a guest or co-tenant may not serve as good cause to evict if the victim is

the tenant or an immediate member of the tenant’s family. If the abuser and the victim are both tenants, the

landlord may take action against the abuser while preserving the tenancy of the victim.

THE MASSACHUSETTS VICTIMS OF DOMESTIC VIOLENCE ACT TOOK EFFECT IN APRIL, 2013.THE ACT HAS THREE PRIMARY PROVISIONS:

First, it allows victims of domestic violence to terminate their leases and vacate prior to the end of the

lease term. To do this, the victim must provide notice of the intention to vacate within three months of an

incident. If the victim is in fear of imminent harm no such notice is required. The landlord may request

proof that the tenant is a victim along with the name of the perpetrator. Proof may be a restraining order,

a police report, or written verification from a physician, social worker or other similarly involved party. The

victim is liable for rent for thirty (30) days after the vacate date, and the landlord must keep any information

that it receives about this confidential. Any remaining tenants are still liable for rent under the lease.

Second, it allows victims to have their locks changed. A landlord has to make a good faith effort to

change the locks and provide the tenant with new keys within two (2) business days of receiving such a

request. The landlord may request proof as stated above, and may charge the tenant for the cost to

change the locks. If the perpetrator is also a tenant, the landlord should not

give a new key to the perpetrator if the victim provides a

restraining order or police

DOMESTIC VIOLENCE: Rights and Responsibilities of Landlords & Victims

THE LEGAL WATCH


report indicating that the perpetrator poses an imminent

threat to the victim.

Third, it prohibits landlords from refusing to rent to

an applicant who has vacated a previous tenancy under

the provisions of the Act or who previously requested a

landlord to change the locks.

So if the disturbance over the weekend had nothing

to do with domestic violence, you may have enough

to evict the tenants. But if one of the tenants was the

victim of domestic violence, you cannot evict the tenant

because of that incident.

The Violence Against Women Act does not apply if a

tenant is being evicted for a reason that has nothing to

do with domestic abuse. We often have cases involving

tenants who have been victims of domestic violence, but

who are being evicted for another reason such as failure

to re-certify, threatening neighbors, illegal drug use,

or non-payment of rent. The fact that they are also a

victim of domestic violence does not prevent a landlord

from evicting them for other reasons. There are a num-

ber of Massachusetts Housing Court cases which affirm

that a tenant who is a victim of domestic abuse may still

be evicted for unrelated reasons.

Often a victim will obtain a restraining order against

the perpetrator. These restraining orders are usually

good for ten days, and then can be extended for up to

a year. If both parties are household members, once

the landlord has proof that the order has been extended

for a year the landlord can remove the abuser from the

lease. If the order only lasts for ten days, the landlord

cannot remove the abuser absent the abuser’s assent.

If the abuser is removed from the lease, a question

often arises as to whether the remaining tenant, the

victim, has sufficient income to qualify for or afford the

apartment. Sometimes the victim has to move because

of inability to pay the rent.

If the abuser is a non-resident, the landlord can serve

a no trespass notice to keep the abuser off the prop-

erty. A copy of the notice is sent to the local

police department. This subjects the abuser to arrest for

trespassing if they come onto the property.

Sometimes, regardless of whether there is an active

restraining order in place or whether the landlord has

served a no trespass notice, the victim keeps inviting

the perpetrator back to the apartment. A 2006 Housing

Court case involving an apartment in Hudson illus-

trates this. The landlord was seeking to evict the tenant

because the police had been to the apartment at least

eleven times over a period of two or three years. In

each instance the incidents involved actual or threat-

ened domestic violence by the same individual against

the victim. Temporary restraining orders were issued but

they were never extended by the tenant. The worst inci-

dent involved the abuser stabbing the tenant and taking

one of her young children.

At trial the tenant was asked why, after all these

incidents, she allowed this individual to keep returning to

the apartment. She stated: “He’s the father of my child.

What do you want me to do?” The Court held that “the

Defendant refuses to take personal responsibility for the

safety of herself, her children, or the other residents” and

entered judgment for the landlord for

possession of the apartment. The Court did not

mention and perhaps did not consider the recently

passed Violence Against Women Act.

Domestic violence occurs all too often. Landlords,

faced with many different fact patterns, have to respond

carefully to these incidents so as to properly enforce the

lease terms while also protecting the rights of victims of

violence.

Kenneth A. Krems is a partner in the Boston law

firm of Shaevel & Krems, LLP, where he focuses on

residential and commercial real estate management

and other real estate issues.

POWERING YOUR PROSPERITYEric DraegerBerkshire GroupAvid Golfer and Northwestern FanWalker & Dunlop borrower since 2006

California loans will be made pursuant to a Finance Lenders Law License from the Department of Business Oversight.

www.walkerdunlop.comCommercial Real Estate Finance

California loans will be made pursuant to a Finance Lenders Law License from the Department of Business Oversight.

Andrew Gnazzo | 781.707.9354 | www.walkerdunlop.comCommercial Real Estate Finance


Apartment Industry Advocates, It is July, which means

beach time and boat drinks, summer camps, lots of

seared proteins and of course

the 2016 Presidential Nominating

Conventions. That last one was on

your list, right? Maybe that is just for

inside-the-beltway nerds like yours

truly. Though with all of the media

coverage of Donald Trump these

past 12 months, one would think it

was on everyone’s mind. The

networks might even devote more than the usual one hour

of prime time to the conventions just in case something

interesting occurs. One thing Mr. Trump seems to always

deliver is something interesting.

The most recent conversation around Mr. Trump is

whether his particular brand of populism is made from the

same formula as that which fueled the “BREXIT.” It would

appear that the two flavors share at least some ingredients –

anti-establishment, anti-elite and desire for more “control”

of the nation. There are also anti-immigrant tones in both

movements though the narrative driving each is different.

There is also some similarity in the intra-party fighting both

here for the GOP and for the Conservative Party of the U.K.

The two highest profile advocates for “remain” and “exit”

were two conservatives, David Cameron and Boris Johnson,

respectively. There almost certainly must be some self-

reflection taking place in that party as they move to select a

new leader.

Would the election of Donald Trump to the Presidency

be the equivalent in scale to the BREXIT? It’s safe to say

that because he is such an outsider and not like nearly

any candidate with a 50 percent chance to win the White

House, the election of Donald Trump would be a very

significant event. Depending on who you are, the shock of

that actually happening and the potential long-term

implications are probably of equal significance to the U.K.

departing the European Union. At that point are we

looking at a world-wide movement? Should all elite

institutions and institutional players be worried for their

future? That certainly is possible. It has even been suggested

that globalization itself could be on the decline. Stopping

expansion of global trade is unlikely but events like the

BREXIT and the election of someone like Donald Trump to

the United States Presidency could change how that trade is

carried out.

The referendum on Donald Trump occurs in four

months, but remember that there are 535 other federal

policymakers who also hold our future in their hands. Even if

he wins, Mr. Trump is not sitting atop the iron throne ruling

as he sees fit. He must work with the Congress to advance

much of his agenda (Sidebar: if we have learned anything

from the current administration, it is that the President can

in fact do a lot without Congress). The House and Senate

play the critical role on policymaking in this country and

we need to make sure they are equipped with all of the

information to make good choices.

Members of the apartment industry should be thinking

how and when to get some time with their member of

Congress between now and Election Day. How about a

property tour at one of your communities? Or, a sit-down

with a small group of members just to catch up on what’s

happening in apartments in the local community? Is there

a town hall meeting or other event with the member

coming up? Any one of these is a perfect opportunity to

educate the member of Congress on you, your business,

your employees, your residents and the apartment industry

overall. Remember NAA’s grassroots program is called

Advocacy365 and is intended to be an ongoing, year-round

effort to build actionable relationships with elected political

leaders.

Greg Brown is Senior Vice President, Government

Affairs, for the National Apartment Association.

Washington Update July 2016

Making Good Choices


BUYER: Eleven Fifty LLC, managed by Michael C. Lesburg and Susan Lesburg

SELLER: Bedros LLC, managed by Edward J. Tutunjian

PRICE/ADD: $5,300,000; 300 Marlboro St., Units 1-9, Boston

MTG: $3,030,000 from Clinton Savings Bank

NOTES: Multifamily property; 9 units; units last sold for $3,775,000 in Oct.2011

BUYER: 561 Cambridge/7th Street LLC, managed by Gaetano F. Morello

SELLER: 561 Cambridge Street LLC, mgd. by Scott Zink

PRICE/ADD: $2,400,000; 561-563 Cambridge St., Cambridge

MTG: $1,825,000 from Digital Federal CU

NOTES: Mixed-use property, constructed 1910; multifamily and retail; building

size is 6,025 sf, lot size is 2,050 sf; last sold for $1,575,000 in June 2014

BUYER: Jask Warren LLC, managed by Joseph Donato

SELLER: 22 Warren Street LLC, mgd. by Andreas Tsitos

PRICE/ADD: $2,666,000; 22-28 Warren St., Lynn

MTG: $2,132,800 from Beverly Bank

NOTES: Multifamily property, constructed 1930; building size is 19,325 sf, lot

size is 18,725 sf; 21 units; last sold for $1,527,750 in Nov. 2014

BUYER: Community Development Corporation of Boston Inc.

SELLER: Aeneas 4 LLC, managed by George Dabney

PRICE/ADD: $1,850,000; 465 Columbia Rd., Dorchester

NOTES: Multifamily property, constructed 1920,

renovated 2006; building size is 10,975 sf, lot size is 6,600 sf; seven-plus units;

last sold for $1,501,465.91 in May 2013

BUYER: 240 Main Street Realty LLC, managed by Philip J. Privitera

SELLER: Chelsea Creek Partners LLC, managed by Richard J. Viscay, Jr.

PRICE/ADD: $1,150,000; 234-240A Main St., Everett

MTG: $805,000 from East Boston Savings Bank

NOTES: Mixed-use property, constructed 1930; building size is 7,375 sf, lot size

is 4,575 sf; 7 units; multifamily and retail; last sold for $660,000 in March 2009

BUYER: 2 Hancock St LLC, managed by Ron Ifrah

SELLER: 2-4 Hancock LLC, managed by Mordechai Apelewitch

PRICE/ADD: $2,780,000; 45-47 Cross St. and 2-4 Hancock St., Malden

MTG: $2,224,000 from Greystone Servicing Corporation


size is 6,850 sf; 20 units; last sold for $1,836,000 in Sept. 2010

BUYER: 10 Harris Street Realty Trust, by Filippo E. Frattaroli

SELLER: FDDG-MA LLC, mgd. by Donato Frattaroli

PRICE/ADD: $4,125,000; 10 Harris St., Boston

MTG: $17,525,000 from East Boston Savings Bank


size is 1,150 sf; four- to six units; last sold for $500,000 in Dec. 1986

BUYER: Micah Realty LLC, mgd. by Daniel S. Adelson

SELLER: Jennifer L. Crowley and Suzanne M. Ferreira,

PRICE/ADD: $2,200,000; 308-318 Hurley St.,Cambridge


size is 13,450 sf; 8 units; sellers’ family ownership in property dates to 1974

BUYER: 21-23 Lafayette LLC, managed by R. Drew

Marc-Aurele and Jane M. O’Leary

SELLER: Frederick R. Perkins, Sr. and Joan L. Perkins

PRICE/ADD: $1,262,175; 21-23 Lafayette Rd., Ipswich

MTG: $1,600,000* from Institution for Savings in Newburyport and Its Vicinity


size is 10,025 sf; 8 units; sellers acquired property for $144,500 in May 1983

BUYER: Cambridge CT Associates I LLC, by Michael Massimino

SELLER: Joseph O. Oliveira and Leontina O. Pacheco

PRICE/ADD: $1,950,000; 384-386 Windsor St., Cambridge

MTG: $2,350,000 from First Boston Construction Holdings LLC


size is 3,550 sf; 4 units; sellers’ family ownership in property dates to Jan. 1963

BUYER: Dharm V. Kuma and Sushma Kumar

SELLER: Spyridon Demetropoulos

PRICE/ADD: $1,300,000; 9-11 Dexter St., Medford

MTG: $928,000 from Jeanne D’Arc Credit Union


Q2/’16 Recent MA Multifamily Sales Source: The Real Reporter Media Corporation

Suburban multifamily investor Arrowpoint Properties has bought 311 Water St. in Lawrence, a 24-unit apartment building secured for $1,825,000 from Glenshane LLC with $1,918,750 in backing from East Boston Savings Bank. Dating to 1972


size is 7,400 sf; four units; seller’s ownership in property dates to Dec. 1979

BUYER: Magnolia Landing LLC, mgd. by Harry Gold

SELLER: Yvonne Johnson and Joanne J. Peterson

PRICE/ADD: $1,785,000; 16 Magnolia Ave., Gloucester

MTG: $1,350,000 from Brookline Bank

NOTES: Multifamily property, constructed 1900; building size is

0,575 sf, lot size is 23,525 sf; last sold for $450,000 in Sept. 1992

BUYER: Arrowpoint Lakeview LLC, managed by David Lamattina

SELLER: Glenshane I LLC, managed by Patrick McKenna

PRICE/ADD: $1,825,000; 311 Water St., Lawrence


NOTES: Multifamily properties, constructed 1972; building size is 12,350 sf, 24

units; last sold for $1,680,000 in March 2005

BUYER: NSG Arlington Real Estate LLC, managed by Hugo and Yvette Guerra

SELLER: PTR Properties LLC, mgd. by Lawrence Roper, Jr.

PRICE/ADD: $1,200,000; 179-187 Arlington St., Lawrence

MTG: $920,000 from Metro Credit Union

NOTES: Multifamily properties; first building constructed 1925; building size

is 6,475 sf, lot size is 10,075 sf: 12 units; second building constructed 1900;

building size is 4,175 sf; last sold for $900,000 in Feb. 2005

BUYER: 194 Thorndike Street LLC, managed by Mary Cerio and Jason J. Foster

SELLER: Timothy J. Magliozzi and Zelia M. Magliozzi

PRICE/ADD: $1,500,000; 188-194 Thorndike St., Cambridge

MTG: $1,100,000 from King Street Residential Properties

NOTES: Multifamily property, constructed 1905; building size is 3,975 sf, lot size

is 4,350 sf; four units; last sold for $130,000 in Sept. 1995

BUYER: IMP Windsor at Cambridge Park LLC, managed by GID Investment Adv.

SELLER: Cambridge Park Apartments LLP, managed by Hanover Co., Houston TX

PRICE/ADD: $215,000,000; 160 Cambridge Park Dr., Cambridge


size is 4.2 acres; 398 units

BUYER: 32 Linden St., LLC, mgd. by Yan Schechter

SELLER: Ramon Realty LLC, mgd. by Aram Donabed, Jr.

PRICE/ADD: $4,500,000; 32 Linden St., Brookline

MTG: $7,000,000 from TD Bank

NOTES: Multifamily property, const. 1915; building size is 10,125 sf, lot size is

4,200 sf; eight units; seller’s family acquired property for $55,000 in Oct. 1970

BUYER: Green Cypress LLC, mgd. by Dante Mitrano

SELLER: Arrowpoint Burlington LLC, managed by David Lamattina

PRICE/ADD: $1,800,000*; 36 Burlington Ave., Lowell

MTG: $1,350,000 from Winchester Savings Bank


is 27,450 sf; *buyer and seller also traded 569 Lakeview Ave., Lowell, a five-unit

apartment building, for $500,000

BUYER: Dennis A. Dyer

SELLER: Anto M. Aboyan, Knarig Aboyan and Veronica A. Sagherian, trustees of

Knarig Aboyan Revocable Trust of 2014

PRICE/ADD: $1,600,000; 67-73 Spring St., Watertown

MTG: $2,000,000* from Belmont Savings Bank


is 7,400 sf; last sold for $166,000 in Aug. 1983

BUYER: Cape Cod Canal Apartments LLC, managed by Matthew Newman

SELLER: 21 Thomas Avenue LLC, mgd. by John Colburn

PRICE/ADD: $1,270,000; 21 and 25 Thomas Ave., Bourne

MTG: $1,016,000 from Reading Cooperative Bank

NOTES: Multifamily property, constructed 1973; six units; building size is 5,700

sf, lot size is 20,050 sf; last sold for $465,000 in Aug. 2012

BUYER: Resource Inc. for Community & Economic Development, managed by

Theresa Malone, president; Pamela Smith, treasurer

SELLER: Clipper Properties LLC, managed by Nelson J. Brandt

PRICE/ADD: $3,100,000; 550 Teaticket Hwy., Falmouth

MTG: $3,244,000 from Bristol County Savings Bank


is 6.3 acres; 28 units; property last sold for $1,000,000 in Feb. 2005

BUYER: Resource Inc. for Community & Economic Development, managed by

Theresa Malone, president; Pamela Smith, treasurer

SELLER: Clipper Properties LLC, mgd. by Nelson Brandt

PRICE/ADD: $3,100,000; 550 Teaticket Hwy., Falmouth

MTG: $3,244,000 from Bristol County Savings Bank


is 6.3 acres; 28 units; property last sold for $1,000,000 in Feb. 2005

BUYER: Fahey Place Apartments LLC, managed by

Qing Liu, Ke Ning and Shenbo Yu

SELLER: Fahey Place Inc., managed by John D. Sullivan,

PRICE/ADD: $3,750,000; 1352 ,1360 Main St., Tewksbury

MTG: $2,812,500 from Hingham Institution for Savings



NOTES: Mixed-use properties; 1352 Main St. a single-family Ranch, construct-

ed 1960; seller acquired property for $290,000 in Sept. 2005; 1360 Main St. a

multifamily property; eight units; second building 24 units; last sold

for $710,000 in Sept. 2005

BUYER: Panruss LLC, managed by Lorraine J. and Peter J. Pantano

SELLER: Robert A. Colleameno Jr. and Salvatore J. Muccio,

PRICE/ADD: $1,950,000; 15 Stillman St., Boston

MTG: $950,000 from Winchester Savings Bank

NOTES: Multifamily property, constructed 1900; building size is 2,825 sf, lot; 4-

to 6 units; sellers’ family acquired property for $41,500 in June 1978

BUYER: Chiron Investments LLC, managed by Romie Chaudhari, Los Angeles

SELLER: ARX Urban Whiting LLC, managed byBenjamin S. Moll

PRICE/ADD: $2,750,000; 81 Whiting St., Lynn


size is 19,050 sf; 21 units; last sold for $2,282,500 in Oct. 2014

BUYER: GM Highland House, managed byMordechai Sternstein

SELLER: Home Properties Highland House LLC

PRICE/ADD: $27,965,000; 9-49 Highland Ave.,Randolph

MTG: $22,520,000 from Capital One MultifamilyFinance LLC

NOTES: Multifamily properties, constructed 1966 to 1967; 172 units total;

9-11 Highland Ave. building size is 38,175 sf, lot size is 1.3 acres; 37 units; 43

Highland Ave. building size is 28,450 sf

BUYER: Bow Somerville Apartments LLC, managed by True North Capital

SELLER: 39-49 Bow Street LLC, managed by Peter A. Dupuis, Jr.

PRICE/ADD: $4,555,000; 39-49 Bow St., Somerville



size is 10,975 sf; 18 units; last sold for $950,000 in Oct. 2004

BUYER: Campbell Investment LLC, mgd. by Rick Costa

SELLER: Virginia Diranian, Administrator,The Estate of Harold Garabed Diranian

PRICE/ADD: $1,500,000; 253-255 Chestnut St., and 21 Fifth St., Chelsea

MTG: $1,500,000 from New Boston Capital Corp.

NOTES: Multifamily property, constructed 1920; building Backed by $3,587,500

from Hingham Institution for Savings, investor George S. Dabney has paid

$4,250,000 to secure 37 Sheafe St. in Boston’s North End neighborhood. Dating

to 1900, the 8-unit multifamily building acquired from Joseph F. Perroncello

BUYER: Boucai Properties LLC, mgd. by Solomon Boucai.

SELLER: Beacon Street Family Trust LLC, byLewis A. Sassoon

PRICE/ADD: $1,000,000; 142 Beacon St., Boston

MTG: $2,410,000 from Rockland Trust Company

NOTES: Multifamily property, constructed 1900; building size is 12,075

BUYER: 37 Sheafe Street LLC, managed by George S.Dabney,

SELLER: AAA Boston RE LLC, managed by Joseph F. Perroncello

PRICE/ADD: $4,250,000; 37 Sheafe St., Boston


NOTES: Multifamily property, constructed 1900, renovated 1989; building size

is 7,425 sf, lot size is 2,375 sf; 8 units;acquired property for $450,000 in 1986

BUYER: 135 Broadway LLC, mgd. by Andreas A. Tsitos

SELLER: Anthony C. Scolaro and Toni P. Scolaro

PRICE/ADD: $1,800,000; 135 Broadway, Everett

MTG: $1,440,000 from Digital Federal Credit Union


size is 4,800 sf; 14 units; sellers’ ownership in property dates to April 1978

BUYER: Congress St Residences, mng by the N. Shore Comm Dev Coalition Inc.

SELLER: Congress & Dow LLC, mgd. by Mickey Northcutt

PRICE/ADD: $3,300,000; 105-109 Congress St. & 52-60 Dow, Salem

NOTES: Multifamily properties; 105-109 Congress St. constructed 1920; build-

ing size is 11,200 sf, lot size is 10,850 sf; 8 units; last sold for $1,312,000 in

Dec. 2014; 52-60 Dow St. constructed 1920; building size is 23,700 sf, lot size

is 15,675 sf; 20 units

Backed by $3,587,500 from Hingham Institution for Savings, investor George

S. Dabney has paid $4,250,000 to secure 37 Sheafe St.in Boston’s North End

neighborhood. Dating to 1900, the eight-unit multifamily building was acquired

from AAA Boston RE LLC, its manager, Joseph F. Perroncello.



BUYER: Safe Journeys LLC, managed by Mark Dean

SELLER: 277-283 Western Ave LLC, managed by Paul Cammarata

PRICE/ADD: $2,385,000; 277-285 Western Ave., Cambridge

NOTES: Mixed-use property, constructed 1928; building size is 5,325 sf, lot size

is 2,900 sf; multifamily and retail; last sold for $330,000 in Aug. 2010

BUYER: Westwood Glen Commons LLC, c/o True North Capital Partners, mngd.

by Jeff Bruce and Mat Glauninger

SELLER: GR-Westwood Glen LP, managed by Equity Residential

PRICE/ADD: $34,400,000; 21 Westwood Glen Rd.,Westwood


NOTES: Multifamily property, constructed 1972; building size is 127,600 sf in

seven buildings, 156 units; seller acquired property in Nov. 1998 as portfolio

BUYER: Nonantum Properties LLC, managed by Troy Lawrence Randall

SELLER: Jean Ann Ridino

PRICE/ADD: $1,825,000; 10-12 Chase St., Newton

MTG: $1,350,000 from The Village Bank

NOTES: Multifamily property, const. 1890; building size is 4,425 sf, lot size is

12,525 sf; 5 unnits; seller’s family ownership in property dates to Nov. 1969

BUYER: GM Highland House, managed by Mordechai Sternstein

SELLER: Home Properties Highland House LLC

PRICE/ADD: $27,965,000; 9-49 Highland Ave.,Randolph

MTG: $22,520,000 from Capital One MultifamilyFinance LLC

NOTES: Multifamily properties, constructed 1967; 172 units total; 9-11 High-

land Ave. building size is 38,175 sf, lot size is 1.3 acres; 37 units; 43 Highland

Ave. building size is 28,450 sf

BUYER: Bow Somerville Apartments LLC, managed by

True North Capital Partners

SELLER: 39-49 Bow Street LLC, managed by Peter A. Dupuis, Jr.

PRICE/ADD: $4,555,000; 39-49 Bow St., Somerville



size is 10,975 sf; 18 units; last sold for $950,000 in Oct. 2004

BUYER: Beacon Somerville Apartments LLC, managed

by Jeff Bruce and Mathew Glauninger

SELLER: 8-10-12 Beacon Terrace LLC, managed by Peter A. Dupuis, Jr.

PRICE/ADD: $2,480,000; 8-10-12 Beacon Ter., Somerville

MTG: $2,262,500 from Melrose Cooperative Bank

NOTES: Trio of multifamily properties; 8 Beacon Ter. a two-family property, 10

Beacon Ter. building size is three units; 12 Beacon Ter. a two-family property

BUYER: Carter Street Investment LLC, mgd. by Rick Costa

SELLER: C.F.T. Enterprises Inc., managed by James F. Follis,

PRICE/ADD: $655,000; 174-176 Chestnut St., Chelsea

MTG: $1,000,000 from New Boston Capital Corp.

NOTES: Multifamily constructed 1900; building size is 8,675 sf, lot size is 4,350

sf: six units; sellers’ ownership in property dates to Jan. 1969

BUYER: GM Liberty Place LLC, managed by Mordechai Sternstein

SELLER: Home Properties Liberty Place LLC, Rochester NY

PRICE/ADD: $19,210,000; 100 Liberty St., Randolph

MTG: $15,456,000 from Capital One Multifamily Finance LLC

NOTES: Multifamily property, const. 1989; building size is 114,175 sf in 13

buildings, lot size is 11.9 acres; 120 units; last sold for $20,983,166 in 2006

BUYER: Lacourt Enterprises LLC, managed by Mouhab Rizkallah

SELLER: KP Fremont LLC, managed by Adam Koncius

PRICE/ADD: $1,400,000; 20-24 Fremont St., Somerville

MTG: $1,004,500 from First Republic Bank

NOTES: Multifamily property, constructed 1910;building size is 4,425 sf, lot size

is 6,100 sf; sevenunits; last sold for $780,000, 2006

BUYER: Walnut Hill Homes LLC, mgd. by Lance LaFave

SELLER: Pinnacle Capital Group LLC, managed by Philip J. Losurdo

PRICE/ADD: $1,200,000; 35 Florence St., Natick

MTG: $900,000 from The Village Bank

NOTES: Multifamily property; building six units; last sold for $672,000 in 2004

BUYER: Dennis A. Dyer

SELLER: Pinnacle 47 Bacon LLC, mgd. by Philip Losurdo

PRICE/ADD: $3,200,000; 47 Bacon St., Waltham

MTG: $2,560,000 from East Cambridge SB


10,800 sf, lot size is 15,250 sf; 12 units; last sold for $2,325,000, 2013

BUYER: Cambridge Street Holdings 1590 LLC, managed

by Alberto Haddad and Roger Lehrberg

SELLER: 1590 Cambridge Street LLC, by Mahmood Firouzbakht

PRICE/ADD: $3,500,000; 1590 Cambridge St., Cambridge



8,050 sf, lot size is 5,775 sf; six units; last sold for $1,100,000, 1999



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BAYSTATE SECOND QUARTER 2016

OFFICIAL MAGAZINE OF THE RENTAL HOUSING ASSOCIATION

L I V E PLAY Competing For Tenants With

Lifestyle Amenitites

WORK

AVA Theater District, rooftop lounge

On the Cover: AVA Theater District out-door lounge. AVA is an apartment community brand by Avalon - aimed at younger professionals looking for modern amenities, and inspire a com-munal setting for congregating.

The Bay State Apartment Owner is the official publication of the Rental Housing Association. © 2016 The Real Reporter Media Corporation and The Rental Housing Association All rights reserved. No part of this publication may be re-produced, re-purposed, or used on any media or social media outlet without the consent from the publisher or the RHA.

A division of The Greater Boston Real Estate BoardOne Center Plaza, Mezzanine LevelBoston MA 02108 | 617-423-8700 @RHAboston | @GBREB

RHA OFFICERSPresident - SARAH MATHEWSONPresident Elect - MARK R. EPKERVice President - KATE FRANCOExecutive Director - JOHN LAFFERTY

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second quarter 2016 vmz - greater boston real estate board · bill crocker client manager (617)...

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