Banker & Tradesman: Nov. 16, 2020

Page 1

TURN TO PAGE C1 FOR THE WINNERS OF THE BEST OF 2020

THE FINANCIAL SERVICES AND REAL ESTATE WEEKLY FOR MASSACHUSETTS BY THE NUMBERS

PAGE 6

County close-up: Hampshire Spotlight: Southampton

Peabody Properties is among a group of Boston-area multifamily landlords and property managers that are working with their tenants to prevent evictions. Adam Kenney oversees management, leasing and sales for the company for 6,000 units at more than 60 properties.

IN PERSON

PAGE 8

WEEK OF MONDAY, NOVEMBER 16, 2020

RESIDENTIAL REAL ESTATE BY THE NUMBERS

$14.87 million The purchase price of the first home in this week’s Gossip Report. See page 9. Source: The Warren Group

TRAIN TRADEOFFS

MBTA CUTS WILL RIPPLE THROUGH REAL ESTATE

$1.2 million The most expensive recent single-family home sale in Hampshire County. See By the Numbers on page 6. Source: The Warren Group

$1,930.95 The highest price per square foot among the homes in this week’s Gossip Report. See page 9. Source: The Warren Group

9,399 square feet The size of the largest home in this week’s Gossip Report. See page 9. Source: The Warren Group

980

6 percent The growth in the median singlefamily sales price in Hampshire County. See By the Numbers on page 6. Source: The Warren Group’s Statistics Module

4.62 acres The size of the largest property in this week’s Gossip Report. See page 9. Source: The Warren Group

$6.6 million The mortgage from First Republic Bank used to buy the second home in this week’s Gossip Report. See page 9. Source: The Warren Group

Unless otherwise noted, all data is sourced from The Warren Group’s Mortgage Market Share Module, Loan Originator Module, Statistics Module and/or proprietary database. For more information please visit www.thewarrengroup.com/business/ datasolutions.

Less Service Will Leave Mark on Transit-Oriented Sites BY STEVE ADAMS BANKER & TRADESMAN STAFF

T

he MBTA’s proposed slimmeddown service menu for 2021 could cause indigestion for downtown Boston office landlords, discourage multifamily development near commuter rail stations and widen social inequities in accessing reliable transportation, real estate industry and economic development sources predict. The agency’s recommended transit diet

to save $142 million during a pandemic-induced decline in ridership calls for closure of six suburban commuter rail stations, elimination of weekend service and a 35 percent cut in overall commuter rail service. The MBTA Fiscal Control Board could reach a final decision as soon as December, with many of the changes taking effect in May. “While the full impact of potential MBTA service cuts remains to be seen, it could be another setback in the city’s eventual return to normalcy and may create further uncertainty in the marketplace,” said Liz Berthelette, director of research for Newmark Knight Frank in Boston.

COMMERCIAL INTERESTS

A Modest Proposal to Fix the MBTA Budget

Revolutionary Rethink of Rail System Generates Untold Benefits By Scott Van Voorhis | Banker & Tradesman Columnist

Continued on Page 7

PROPOSED MBTA CUTS • 20 percent fewer subway trains • Stop Green Line E branch at Brigham Circle • 20 percent fewer buses on

“non-essential” routes • End 20 bus routes • Eliminate ferries to Hull, Hingham and Charlestown • No weekend commuter rail trains starting January 2021 • No weekday commuter rail trains after 9 p.m. • Close six commuter rail stations

LEARNING LITERACY

Burden of Financial Education Falls on Families – and Their Bankers Lenders Look to Help Children ‘Learn Through Doing’ By Diane McLaughlin | Banker & Tradesman Staff

Commercial Real Estate PAGE 3

MassDOT photo

The number of single-family homes sold in Hampshire County in September. See By the Numbers on page 6. Source: The Warren Group’s Statistics Module

Banking & Lending PAGE 9


Turn static files into dynamic content formats.

Create a flipbook
Issuu converts static files into: digital portfolios, online yearbooks, online catalogs, digital photo albums and more. Sign up and create your flipbook.