Banker & Tradesman: Dec. 28, 2020

Turn to page B1 for Banker & Tradesman’s monthly coverage of all things commercial real estate.

THE FINANCIAL SERVICES AND REAL ESTATE WEEKLY FOR MASSACHUSETTS

BY THE NUMBERS

PAGE 6

County close-up: Barnstable Spotlight: Chatham

IN PERSON

PAGE 8

Andrea White had never worked at a credit union before October, when she became president and CEO of Somerville-based Naveo Credit Union. But for White, her career in community banking – which started when she had a summer job as a teller during college – has prepared her to lead the $156 million-asset Naveo.

WEEK OF MONDAY, DECEMBER 28, 2020

COMMERCIAL REAL ESTATE

BY THE NUMBERS

BUILDING EQUITY

HIGHER HURDLES

$10 million Accordia Partners is giving $10 million to prevent displacement caused by its latest project. See Steve Adams’ story on this page.

Source: Accordia Partners

FOR DEVELOPERS TESTED IN DORCHESTER

280 The number of bedrooms at Common Allbright, a coliving development. See Jay Fitzgerald’s story on page B1.

Source: Boylston Properties

1,740 The number of housing units slated to be constructed as part of Dorchester Bay City. See Steve Adams’ story on this page.

Source: Accordia Partners

$1,400 The monthly rent predicted for an underway Allston coliving development. See Jay Fitzgerald’s story on page B1.

Source: Arx Urban

Affordable housing units in Dorchester Bay City will be open to those making 60 percent of area median income. See Steve Adams’ story on this page.

Source: Accordia Partners

$661 million The size of Trinity Financial’s investments in New York City. See Insider Insights on page B2.

Source: Trinity Financial

6 years Massachusetts law says lawsuits over construction defects must start within six years. See Law of the Land on page B3.

Source: Massachusetts General Laws

29 stories The height of a proposed Charlestown tower. See Week on the Web on page 2.

Source: BPDA

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.

Bay City Seeks to Comply with Fair Housing Goals

BY STEVE ADAMS BANKER & TRADESMAN STAFF

B

oston’s firstin-the-nation fair housing zoning law is already influencing key elements of the city’s largest proposed development, Dorchester Bay City, as Accordia Partners spells out how its affordable housing strategy

will exceed what’s typically expected in new projects.

“Everyone was aware this was coming or if they weren’t, they should have been, especially given the moment,” said Kirk Sykes, Accordia’s co-managing director.

“It’s a good time to create change, but we were trying to be innovative before we were required to be.”

The fair housing zoning amendment which awaits final approval in early 2021 has shaped Accordia’s approach to affordable housing at its 34-acre Dorchester Bay

City – which could include 1,740 housing units – and how it can generate wealth for neighborhood residents through real estate ownership.

Accordia and its partner Ares Management offer to contribute $10 million to an anti-displacement fund, potentially in partnership with a local nonprofit, to expand first-time homebuyer assistance programs. The focus on home ownership addresses one of the notorious findings of a 2015 Federal Reserve Bank of Boston

Continued on Page 7

COMMERCIAL INTERESTS

BREAKOUT MOMENT

Neighbors Oppose 9-Story Project Near 8 1/2-Story Building

Greater Coordination, State Support Seen as Next Steps

By Scott Van Voorhis | Banker & Tradesman Columnist

By Diane McLaughlin | Banker & Tradesman Staff

Image courtesy of Stantec Architecture and DREAM Collaborative

60 percent

Cambridge Faces Fairness Groups Hope to Grow Fintech Test in Affordable Apartments ‘Silicon Valley’ in Massachusetts

Commercial Real Estate PAGE 3

Banking & Lending PAGE 7

2 | BANKER & TRADESMAN

DECEMBER 28, 2020

The Week on the Web

Timothy M. Warren Jr., CEO and Publisher David B. Lovins, President and COO

BANKER & TRADESMAN

A ROUNDUP OF OUR MOST POPULAR STORIES FROM THE PAST WEEK

Published by The Warren Group

BILL ALLOWS SECOND-DRAW PPP LOANS

PUBLISHING

Associate Publisher: Cassidy Norton Managing Editor: James Sanna Associate Editor, Commercial Real Estate: Steve Adams Associate Editor, Banking: Diane McLaughlin Contributing Writer: Scott Van Voorhis Audience Solution Specialist: Sarah Ahlgren Advertising Account Manager: Yasmin Nasrullah Graphic Designer: William Samatis

DATA SOLUTIONS

Director of Sales & Marketing: John Bottini Communications Manager: Mike Breed National Account Executive: Lauren Guzak Executive Data Solutions Account Manager: William Visconti Data Solutions Account Managers: Chris Mirakian, Rose Zavala RE Records Search Client Specialist: Jenell James

• The COVID-19 aid bill passed by Congress last week will allow small businesses with 300 or fewer workers hit hardest by the pandemic to take a second Paycheck Protection Program loan. Second-draw loans will be capped at $2 million. Borrowers can choose the time frame the loan will cover, anywhere between 8 and 24 weeks after the loan origination. The business owner must still use at least 60 percent of the loan on payroll costs to receive full forgiveness.

• The bill also extends a simplified forgiveness process to loans under $150,000. The new process will require the U.S. Small Business Administration to create a one-page form for borrowers to certify the number of employees retained because of the loan, the estimated total amount of the loan spent on payroll costs and the total loan amount. The U.S. Small Business Administration and Treasury Department in October had created a similar process for borrowers with loans under $50,000.

• Lenders in low- and moderate-income communities will also receive funding. According to a statement from the U.S. House Committee on Financial Services, minority depository institutions and community development financial institutions would receive $12 billion in emergency capital investment and support.

TRADE GROUPS MONITORING CYBERATTACK’S IMPACT ON BANKS

INFORMATION SERVICES

Director of Operations & Product Strategy: Samantha Bullock Data Operations Supervisor: Tammy Dandurant Photo courtesy of CBRE

Data Vendor Coordinator: Tracey Kelley Data Quality Auditor: Ellen Gendron Acquisitions Coordinator: Linda MacDonald Transaction Acquisition Coordinator: Wally Bullock

Senior Applications Developer: Joe Chan Software Developer: Michael Paul IT Systems Support Specialist: John Baldi Technical Assistant: Matthew Paul

FINANCE & ADMINISTRATION

Controller: Gena Salvo

• Jamestown, owner of the 1.4 million-square-foot Innovation and Design Building on Drydock Avenue since 2013, has repositioned the former industrial space as a destination for office and lab tenants, a strategy that will continue under the new ownership structure, the companies announced. Terms of the transaction were not disclosed.

• The Davis Cos. recently proposed nearly doubling the size of the 88 Black Falcon property with a 330,600-square-foot addition.

Life science specialist Alexandria Real Estate Equities last month bought a 6-acre site on E Street currently occupied by a self-storage facility and truck terminal for $168.5 million, while Marcus Partners acquired the Au Bon Pain headquarters and bakery on Fid Kennedy Way for $25 million.

COOLIDGE CORNER APARTMENTS SOLD FOR $74M

Marketing Coordinator: Sara Ryerson

INFORMATION TECHNOLOGY

RELATED BEAL PARTNERS WITH JAMESTOWN ON IDB UPGRADES

Photo courtesy of Corderman & Co.

ESTABLISHED 1872

• The 94-year-old Pelham Hall building at 1284 Beacon St. in Coolidge Corner contains 148 apartments. The seller, 1284 Beacon LLC, is affiliated with Nordblom Co. of Burlington. In a statement, Fairstead Founding Partner Will Blodgett said the property was attractive because of its historic charm and location on the MBTA Green Line.

• Invesco Real Estate furnished a $63 million acquisition loan that was brokered by CBRE Vice Chairman and Partner Simon Butler.

Fairstead has acquired and developed more than $4 billion in multifamily properties since 2014, and now owns nearly 13,000 apartment units in 15 states.

• “The supply chain attack on the SolarWinds Orion Platform, and the subsequent breaches to its customers, is a significant cybersecurity event that is affecting every corner of the public and private sectors, including community banking,” ICBA President and CEO Rebeca Romero Rainey said in a letter to community bankers.

• The hack began as early as March when malicious code was snuck into updates to popular software that monitors computer networks of businesses and governments. The malware, affecting a product made by U.S. company SolarWinds, gave elite hackers remote access into an organization’s networks so they could steal information.

DEVELOPER PLANS 29-STORY RESIDENTIAL TOWER IN SULLIVAN SQUARE • Newton-based Fulcrum Global Investors intends to propose a 334-foot multifamily tower containing 695 apartments and a ground-level “European-style market hall” on the site of an auto salvage yard. An affiliate of Fulcrum Global Investors bought the project’s parcels in August for $1.2 million, according to public records.

• The building just steps from the MBTA’s Sullivan Square Orange Line station would total 552,000 square feet and include 240 off-street parking spaces for tenants and employees. Planned amenities include an indoor-outdoor fitness center, dedicated work-from-home suites and resident lounges with views of the surrounding area.

HERE’S WHAT YOUR PEERS WERE INTERESTED IN LAST WEEK:

Accounts Payable: Olga Khalaydovsky Human Resources Manager: Linnea Blair Office Manager: Nicole Tower

BANKE R & TR AD ESMA N

(ISSN 0005-5409)

Volume 201, Number 52 Published each Monday. ©2020 The Warren Group Inc., 2 Corporation Way, Suite 250, Peabody, MA 01960. All rights reserved.

No part of this publication may be reproduced without the written consent of the publisher.

Banker & Tradesman™ and The Warren Group™ are trademarks of The Warren Group Inc. Subscriptions to Banker & Tradesman: Premium: One year – $379 Two year – $679 Single copies are $10.00 each and are on sale at the offices of the publisher.

POSTMASTER: Send address changes to: Banker & Tradesman The Warren Group 2 Corporation Way, Suite 250, Peabody, MA 01960 Phone: 617-428-5100. Fax: 617-428-5119. www.bankerandtradesman.com Periodicals postage paid at Peabody, MA, and additional mail offices.

1

Baker Announces New Curbs to Combat COVID

2

To Do Right by Renters, Build More Dorms in Boston

3

Trade Groups Monitoring Cyberattack’s Impact on Banks

4

State: Over One-Third of Liquor Licensees Might Not Renew

5

Oxford Seeks Air Rights for Leather District Tower Redesign

6

Townhomes Have Evolved into an Effective Alternative

7

Gordon Named Head of City of Boston Credit Union

8

Test Your Knowledge of Credit Scores

9

FHA Extends Foreclosure Moratorium Again as Forbearance Requests Rise

10

Is Boston’s Luxury Boom Over?

POLL RESULTS Banker & Tradesman readers think a need for more elbow room will be important in next year’s housing market.

What residential real estate trend will be most important in 2021?

for private 38% Demand outdoor space. willingness to live 31% Afurther away from work.

23% Dislike of open-plan homes.

8% Pools being back in demand.

DECEMBER 28, 2020

BANKER & TRADESMAN | 3

COMMERCIAL REAL ESTATE COMMERCIAL INTERESTS

Cambridge Faces Fairness Test in Affordable Apartments

BY SCOTT VAN VOORHIS BANKER & TRADESMAN COLUMNIST

D

espite being a city that prides itself as a bastion of liberal values, Cambridge is in peril of flunking a test of basic human decency next month.

All over a measly three stories.

Showing how they really know how to pick their battles, city zoning officials have thrown down the gauntlet over the height of a proposed apartment project in Porter Square.

And the height, you ask?

Well, if you are thinking “skyscraper,” or even “midrise,” you’ll be more than a bit disappointed.

“Small-rise” would be more like it, for the apartment building proposed by Cornerstone Communities is all of 9 stories tall.

But surely this must be another one of these grossly-overpriced, cookie cutter “luxury” apartment boxes, you say? After all, we’ve had enough of those.

Far from it, actually. All of the nearly 50 units at the new, slated for 2072 Massachusetts Ave., where the 1-story Darul Kabab restaurant now stands, would be rented out at

below-market rates to middle- and workingclass families.

Many would be two-bedroom, family-sized apartments of the type hard to come by in a market flooded with luxury, one-bedroom units pitched at young professionals.

Zoning Board Pushes for Less Height

To any reasonable person who hasn’t been living under a rock for the past 20 years, what we are talking about here are desperately needed units in a city where the average rent until recently was over $3,000 a month and where the median home price crossed the seven-figure mark years ago and has kept on rising.

First, roughly two-thirds of the letters and other comments sent to city officials reviewing the project have been in favor, according to the Cambridge Day, a strong showing of support in a vocal city.

But that broad category apparently doesn’t include a majority of the Cambridge Board of Zoning Appeal, who see just another, stereotypical, “greedy” developer trying to push the envelope.

Unable to see the forest from the trees, the board has effectively given the developers until Jan. 7 – when the hearing on the project

Affordable housing builder Cornerstone Communities has proposed a 50-unit, 100 percent-affordable apartment building just blocks from the MBTA’s Porter Square station, spurring opposition from neighbors.

is slated to resume – to shave as many as three stories and more than a dozen units from the project, the Cambridge Day reports.

City Councilor Dennis Carlone, an urban planner and architect, said he was concerned about precedent, citing talk of another round of upzoning in Central Square, where maximum building heights were raised to 85 feet not too long ago.

But Jim Monteverde, one of the zoning board members, took the cake, declaring: “I’m willing to sacrifice” the number of units in the building to achieve a lower height.

A heroic gesture, it was definitely not.

It doesn’t take a rocket scientist to see that it’s not just Capstone Communities who’s being asked to “sacrifice,” but 14 middle and working-class families and other renters who would otherwise have found an affordable, decent place to live.

There’s good news here, though.

First, roughly two-thirds of the letters and other comments sent to city officials reviewing the project have been in favor, according to the Cambridge Day, a strong showing of support in a vocal city.

And city Mayor Sumbul Siddiqui backs moving ahead with the project as-is, even arguing for the project a recent, stronglyworded op-ed in the Cambridge Chronicle.

She points out, among other things, that there is an 8 1/2-story building a block away.

“This is a project that meets all the city’s major goals, and it should be applauded, not dissected,” she wrote.

Some Zoning Board members also went on record in support of the project during a contentious, hours-long hearing on Dec. 10, with Tom Sieniewicz citing the “urgent need for afContinued on Page 10

In life, and in the workplace, our differences make us stronger.

That's why IBEW Local 103 electrical workers union and NECA Greater Boston contractors prioritize the diversity of our core teams as a central pillar of our mission. It is integral, not only to the quality of our work, but to our fundamental mission of creating a more equitable construction industry, and a stronger working class.

We are proud to hire more people of color, women, and veterans than any other construction employer in the region, and we are committed to continue raising the bar.

To learn more, or to partner with us on your next electrical project: ThePowerProfessionals.com 617-436-3710

Image courtesy of Bruner/Cott Architects

Neighbors Oppose 9-Story Project Near 8 1/2-Story Building

4 | BANKER & TRADESMAN

DECEMBER 28, 2020

OPINION EDITORIAL

EDITORIAL CARTOON

Take Action on Equity in 2021

W

ith this interminable year almost behind us and vaccines promising an end to the COVID-19 pandemic by

fall 2021, many are eager to get back to their pre2020 normal. In at least one key respect, however, that would be a mistake.

Amid the tragedy of 2020, we saw a glimmer of hope. This was the year much of the business community realized it was time for them to put their shoulders to the wheel in the fight against racism in Massachusetts. This was the year that finally put paid to the idea that being blind to race was enough when Americans of color often have to work harder and longer to achieve the same successes as white Americans.

Many firms stepped up to the plate, whether through philanthropic efforts, political lobbying or in smaller ways within their own operations.

But with the turning of the year and the passing of the pandemic, there is every danger that this year’s urgency will be forgotten.

Without carrying the same passion that so many felt to act in June and July when confronted with the grotesque reality of our racist present, key changes won’t happen. Important conversations about lending practices will trail off. Reforms to recruiting and personnel policies will fizzle. When we’re able to safely resume in-person interactions, more experienced members of the real estate and banking fields will forget to consciously broaden the circles of people who they mentor. And, most critically, many older, whiter business leaders may not feel the same obligation to implement fixes when staffers come to them with evidence about racial disparities in their workplaces or in how their company does business.

It’s steps like these that will be critical to building a more just society post-COVID; they will also be key towards making sure businesses are ready to compete as Massachusetts and America become more and more diverse.

Let’s not let 2020 go to waste by taking concrete steps towards a more equitable future next year and in many years to come.

Letters to the editor of 300 words or less may be submitted via email at editorial@thewarrengroup.com with the subject line “Letter to the Editor,” or mailed to the offices of The Warren Group. Submission is not a guarantee of publication.

Banker & Tradesman Cassidy Norton

Associate Publisher c n o r to n @th e w a r r e n gr ou p . c om

Timothy M. Warren Jr.

Publisher T i m o t h y M. W a r r e n

Publisher 1975-1988 Keith F. Warren

Publisher 1928-1975 W i l l a r d C. W a r r e n

Publisher 1901-1928

THE HOUSING SCENE

Could Less Parking Mean Cheaper Homes?

Many Developments Have More than they Need

BY LEW SICHELMAN SPECIAL TO BANKER & TRADESMAN

W

hen the conversation turns to the nation’s affordable housing crisis, the talk is usually about ever-higher house prices and the cost of regulations. Rarely does the discussion mention parking. But it should, says Brian O’Looney, author of the new book, “Increments of Neighborhood.”

O’Looney says parking requirements drive up construction costs, “turning cities into storage areas” for our vehicles and keeping home prices “prohibitively high” for consumers. They add costs, not just terms of the actual parking, but also in the opportunity cost lost when parking displaces potential residential development, he told me in an email.

The author says two-thirds of suburban land in commercial and retail areas is dedicated to parking.

And since retail parking is designed for peak loads, lots run at only 45 percent to 50 percent capacity for most of the year.

As O’Looney sees it, parking rules are “often more of a pseudoscience, with little to no statistical basis and more a political calculation.” He says changing parking requirements can increase commercial land values by 30 percent and lower development costs by 25 percent – or up to 30 percent in urban areas.

New Tool to Motivate Sellers

Whether or not homeowners are thinking about putting their places on the market, most of us wonder what our houses are worth. But we’re just as curious about what our neighbors’ homes would bring – particularly when the “For Sale” sign comes down and the “Sold” sign goes up.

Now real estate agents are being offered a new tool that gives their clients a map showing recently sold houses in their areas, complete with the final sales price. You’ll have to connect with an agent who has the program, but most should welcome an inquiry because you could be their next client.

The “Recently Sold” map is being offered by the Delta Media Group as part of its automated valuation page. It lists up to 10 sold listings within a 1.5-mile radius from the user’s address. Delta’s Michael Minard thinks it could go a long way toward solving real estate’s No. 1 challenge: the lack of inventory.

“Brokerages are discovering that showing local homeowners the real final sales price – not just the asking price – can help motivate some owners to become sellers,” Minard says.

Getaway Sales Spike, Rentals Drop

Sales of vacation properties are soaring, according to the National Association of Realtors. But if buyers are intending to cover their costs by renting out their holiday digs, they could be in for a rude surprise – at least until the pandemic runs its course.

A report from Stock Apps, a financial education website, says the vacation rental market has taken an “enormous financial hit.” Worldwide, holiday rentals will be off by $35 billion this year, which is a drop of 42 percent from 2019, it says.

Individual owners and small property management companies aren’t the only ones taking it on the chin.

Outfits like Airbnb, Booking.com and Expedia saw a 90 percent plunge in reservations as people stayed home, the company says.

“The initial wave of COVID-19 caused massive cancellations of stays, with even the market’s biggest players witnessing colossal reservation drops,” said the report.

Meanwhile, NAR says sales of houses intended as vacation getaways totaled 109,100 in the third quarter, a 44 percent jump from the same period last year. In comparison, the sale of primary residences rose just 13 percent over the same period.

Not only were more second homes sold in the July-toSeptember period, they sold faster when compared to historical norms. Nearly 60 percent sold within one month.

A year ago, only 25 percent sold that quickly. The norm is about 30 percent, says NAR economist Gay Cororaton.

As usual, the vast majority of holiday houses were snapped up by Americans. But because of virus-imposed travel bans, the number of foreign buyers fell from 3 percent to less than 1 percent. Of those who did buy here, 13 percent came from Europe and 12 percent from were China.

Baby, Don’t Fear the Lender

Borrowers who want to refinance their mortgages to take advantage of record-low interest rates should not fear being turned down by a lender. According to a survey by LendingTree, 86 percent of all refi applications are approved.

Of course, those whose houses have appreciated in value and have higher credit scores are more likely to be approved. But there are always exceptions and other factors that are considered, says Tendayi Kapfidze, the mortgage search engine’s chief economist.

In the third quarter, refinances accounted for the majority of home loans, according to Attom Data Solutions.

Lenders issued 1,955,668 residential refinance mortgages during the period, up 15.7 percent from the second quarter and 84.5 percent from the same period last year.

Overall, lenders were busier than ever.

“The housing market [is] still operating as if the recession brought on by the pandemic didn’t exist,” said Todd Teta, Attom’s chief product officer. “Buyers and owners, lured by low mortgage rates, kept lining up for loans at levels not seen in more than a decade.”

Lew Sichelman has been covering real estate for more than 50 years. He is a regular contributor to numerous shelter magazines and housing and housing-finance industry publications. Readers can contact him at lsichelman@aol.com.

DECEMBER 28, 2020

BANKER & TRADESMAN | 5

OPINION QUESTION MERITOCRACY

To Future-Proof Your Firm, You Must Reexamine Its Culture Too Often, Business’ Cultures Are Misaligned with Equity

BY MALIA LAZU SPECIAL TO BANKER & TRADESMAN

T

oday more than ever – exacerbated but not caused by the COVID-19 pandemic and our national reckoning with racial inequity – Americans are loudly asking, how do we create a more fair, equitable union?

Since the Occupy Wall Street movement 10 years ago, the wealth gap has been a centerpiece of our moral conversation.

In response to pressure from both consumers and employees, as well as the simple fact that inequality hurts profitability, companies are making commitments to help, with charitable donations and more diverse hiring and vendor sourcing initiatives. But to achieve meaningful progress, we must confront an elephant in the room: Today’s corporate business culture is misaligned with equality.

We all know that achieving any major goal requires sacrifice, a willingness to change and a long-term commitment to the true objective. Equality is no different.

High-minded pronouncements about “injecting a moral compass” into the current ways of doing things does not address the actual work that needs to be done. One doesn’t start jogging today and expect to complete a marathon tomorrow. That said, there are obvious roadblocks that must be overcome for us get us to where we need to go.

Think Beyond the Short Term

First, short-termism – whether in our hiring, planning or execution – is antithetical to the long-term nature of how to build equity. Corporate leaders trying their best to figure out how to respond to this current moment in time often overlook the most obvious, effective long-term solutions simply because of the short-term sacrifice they

may require or short-term discomfort they may cause key stakeholders.

Centering a social purpose, raising the minimum wage and increasing supplier diversity are all actions proven to drive long-term growth and productivity, yet they are almost immediately dismissed as infeasible or financially irresponsible.

Second, prioritizing profits over people is still considered smart business, but only from a short-term perspective. If the majority of your consumer & employee base is sick, undereducated and in financial distress, how do you future-proof your profitability? According to recent studies, increasing the minimum wage increases productivity.

Forward-thinking visionaries occupying C-suite roles and positions of leadership have the power to set and manage long-term expectations that will deliver superior outcomes, both for shareholders and our society at large.

Just look at Nike’s decision to double down on Colin Kapernick. The controversial choice paid off: Nike claims $163 million in earned media, a 31 percent boost in sales and a $6 billion increase in brand value.

Third, we need to challenge the facile belief that meritocracy – rather than who we know – is really what determines who we hire and promote.

The cliche of the “good ol’ boy” network is an honest observation of how an elite class reinforced generational success through business relationships and opportunities. The “right” school, dinner club or fraternity can mean more than position competence. This lack of meritocracy lowers competition and continues to consolidate wealth and power to those who have been systematically included.

Of course, this fiction bears no connection to reality.: For example, Black women are the most educated demo-

graphic in the country and women of color the most entrepreneurial, opening 89 percent of the new businesses in 2019. Yet they are under-represented in the management ranks of many financial institutions.

It is time to take a long hard look at how we recruit, who we hire, how we hire, how we promote and what our true definition of success looks like. The meritocracy equation at a company may be flawed, but there are proven models to change this. Key Bank is an example of actualizing change with close to 60 percent of its hires being female and minority a goal reached with the help of a board and management team all above the norm for diversity (50 percent and 30 percent respectively).

So here we sit at the beginning of 2021, on the corner of good intentions and action. We know to future-proof our companies, brands, profits and society, we need more equity and diversity. But instead of pushing it off on trainings, siloed departments or charity, let’s do what the best companies in the world know how to do: Create visionary strategy based on data and market understanding, following a well proven roadmaps. Then we must apply the necessary resources and budgets, while holding key stakeholders responsible, to ensure success on the ground, in our companies and communities.

Responding to this moment in our history is more than pledges and platitudes, it’s redefining how we operate, acknowledging that investments and hard work in the shortterm will yield massive results and by making the commitment that building equity into culture will benefit us all.

For the companies that get it right, the upside is massive.

Malia Lazu is a professor at the MIT Sloan School of Management and the former Eastern Massachusetts market president and chief experience and culture officer at Berkshire Bank.

NUTTER NOTES

New Report Surveys Systemic Threats to U.S. Economy Corporate Credit, Concentration in Fintech Highlighted by FSOC

BY THOMAS J. CURRY, KATE HENRY AND ARMAND J. SANTANIELLO SPECIAL TO BANKER & TRADESMAN

Thomas J. Curry

Kate Henry

Armand J. Santaniello

T

he Financial Stability Oversight Council (FSOC) released its 2020 Annual Report on Dec. 3. The FSOC, which was established by the Dodd-Frank Wall Street Reform and Consumer Protection Act, aims to (1) identify risks to the country’s financial stability arising from financial distress or the failure of bank holding companies and nonbank financial companies, (2) promote market discipline by mitigating shareholder expectations regarding government intervention in the event of losses and (3) respond to emerging threats to the stability of the U.S. financial system. The FSOC is chaired by the secretary of the treasury and members include the heads of the federal financial regulatory agencies and certain nonvoting state insurance and securities regulators.

The report is the FSOC’s most current forecast of potential or emerging systemic economic threats. It focuses primarily on the impact of the COVID-19 pandemic on the U.S. economy and makes recommendations based on particular issues faced by the financial sector in light of the COVID-19 pandemic and associated economic downturn.

Corporate Credit

The report notes that, despite a temporary decline in activity at the beginning of the COVID downturn in March, swift government intervention has caused debt financing to bounce back.

Notwithstanding this positive news, the report also highlights the potential risks associated with the COVID downturn to the corporate credit market, including borrowers’ ability to service their obligations, the ability of market participants to absorb market losses from defaults and downgrades resulting from the COVID downturn, the willingness of market participants to continue to provide intermediation, and the potential strain that bank-

ruptcies would place on certain nonfinancial institutions, such as the U.S. judicial system.

The FSOC recommends that agencies continue to monitor levels of nonfinancial business leverage and asset valuation trends, and assess the impact of fluctuation in the corporate credit market on the health and soundness of the broader financial market.

Fintech and Financial Innovation

Consistent with previous FSOC recommendations, the report acknowledges that financial innovation can offer substantial benefits to consumers and businesses. The COVID downturn accelerated the need for these benefits, as institutions are more frequently utilizing third parties to support remote work capabilities and maintain operational levels.

While relationships with third-party providers may allow institutions to leverage technology (including fintech), reduce costs and increase efficiency, new risks and vulnerabilities must be acknowledged. For example, concentration risk – reliance by many institutions on a single vendor – could result in disruption in access to financial data and could impair the flow of financial transactions.

The report encourages agencies to monitor and analyze the effects of new financial products and services on consumers, regulated entities, and financial markets, and evaluate potential effects on financial stability. The report also stresses continued coordination among financial regulators to support responsible financial innovation and competitiveness yet promote consistent regulatory approaches that identify and address potential risks.

Commercial Real Estate

The COVID downturn has left the commercial real estate sector vulnerable. The governmental implementation of lockdown orders and restrictions have heavily impacted certain segments of the CRE market, including hotels, restaurants, retail and offices. Distress in CRE properties makes creditor banks vulnerable to losses

and write-downs, which threatens to tighten credit and dampen economic recovery.

Because of the large proportion of CRE loans held on banks’ portfolios – especially small and mid-sized banks – volatility and uncertainty in the CRE market could have a significant impact on the financial system as a whole.

The report recommends that regulators continue to closely monitor the volatility occurring in the CRE market, and to encourage banks to continue to boost lossabsorption capacity by strengthening capital and liquidity barriers to sustain potential losses in CRE portfolios.

Cybersecurity

The report also discusses the pandemic’s impact on cybersecurity, as increasingly remote working environments have left financial services companies open to cyberattacks. Additionally, increased reliance on interconnected third-party technology increases the risk of systemic disruption. The report notes that a destabilizing cybersecurity incident has the potential to cause a disruption of irreplaceable key financial services, to cause market participants to lose confidence in the financial system, leading to withdrawal of funds or decreased activity, or to compromise the integrity of crucial data.

The FSOC recommends that federal and state agencies monitor these cybersecurity risks, continue to implement examinations of financial infrastructures to ensure that they are prepared to sustain the risks inherent in an increasingly digital-dependent market, and work closely with private third-party technology providers to monitor cybersecurity risks.

The report is a useful summary of the COVID downturn’s impact on the financial markets to date and will give incoming Treasury Secretary Janet Yellen a snapshot of financial stability risks. However, as discussed in our Nov. 22 Banker & Tradesman column, the Biden administration will have the opportunity to change many of the FSOC’s members and shift its focus to additional financial stability risks such as climate change. Yellen may also use a more robust FSOC as a vehicle to tackle other structural weaknesses and financial threats brought to light by the COVID-19 pandemic.

Thomas J. Curry is a partner in Nutter’s corporate and transactions department. Kate Henry and Armand J. Santaniello are associates in Nutter’s corporate and transactions department.

Curry is former U.S. comptroller of the currency and all are members of the firm’s banking and financial services group.

6 | BANKER & TRADESMAN

DECEMBER 28, 2020

BY THE NUMBERS COUNTY CLOSE-UP

BARNSTABLE

SPOTLIGHT Chatham

YEAR SETTLED 1665

Tisquantum, also known as “Squanto”, was a member of the Patuxet tribe best known for being an early liaison between the Native Americans of Southern New England and the Mayflower Pilgrims; he is buried in Chatham.

YEAR INCORPORATED 1712 TOTAL AREA 24.4 square miles POPULATION 6,125 DENSITY 380 people per square mile TAX RATES Residential: Commercial:

STATISTICAL SNAPSHOT MEDIAN SALES PRICE Change from 2019

$4.82 $4.82

TOTAL NUMBER OF HOUSING UNITS 6,743

SALES VOLUME

Community

Jan-Nov. 2020

Jan-Nov. Change from 2020 2019

Barnstable

$532,500 8% 99 -2%

Bourne

$422,450 13% 286 8%

Brewster

$515,000 8% 208 34%

Centerville

$415,000 11% 224 7%

Chatham

$760,000 1% 233 47%

Cotuit

$548,850 27% 74 -1%

Dennis

$410,000 6% 405 15%

$450,000 450000

Eastham

$510,000 13% 161 9%

$400,000 400000

Falmouth

$515,000 17% 634 13%

Harwich

$477,750 7% 309 8%

Hyannis

$352,000 14% 183 -11%

Marstons Mills

$415,000

Mashpee

$486,500 14% 322 25%

Orleans

$775,063 24% 160 78%

“God comes to us in theater in the way we communicate with each other, whether it be a symphony orchestra, or a wonderful ballet, or a beautiful painting, or a play. It’s a way of expressing our humanity.”

— Julie Harris (1925–2013), five-time Tony award winner and Chatham resident

Osterville Provincetown

9%

122

-3%

$825,000 46% 113 31% $1,100,000 23% 37 68%

Sandwich

$449,950 13% 416 17%

MEDIAN SALES PRICES 500000 $500,000

$350,000 350000 $300,000 300000 $250,000 250000

2011 ’11

2012 ’12

2013 ’13

2014 ’14

$720,000 -5% 67 37%

Wellfleet

$597,000 8% 76 29%

2016 ’16

2017 ’17

2018 ’18

2019 ’19

• All sales thru November YTD

2020 ’20

Barnstable Massachusetts

• Graph based on single-family home sales of $1,000 and above, excluding condominiums and foreclosure deeds • Source: The Warren Group

SALE VOLUME

TOP 3 MORTGAGE LENDERS Rank

5000

5,000

Lender

% of Market Share

1

Cape Cod Five Cents 11% Savings Bank

4,500

4500

2

Cape Cod 5% Cooperative Bank

4000

3

RBS Citizens Bank NA

4,000

3%

Rankings and Mortgage Market Share stats include purchase and refinance mortgages for all residential properties in November 2020 Market share percentage based on volume of mortgages • Source: The Warren Group

3500

3,500

Truro

2015 ’15

3000

3,000

TOP 3 LOAN ORIGINATORS

2500

2,500

Yarmouth Barnstable County

$365,000 8% 607 28% $469,950

15%

4,736

17%

• Statistics based on single-family home sales of $1,000 and above, excluding condominiums and foreclosure deeds • Source: The Warren Group

2000

2,000

Rank

2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 ’11

’12

’13

’14

’15

’16

’17

’18

’19

’20

• All sales thru November YTD

• Graph based on single-family home sales of $1,000 and above, excluding condominiums and foreclosure deeds • Source: The Warren Group

Lender

Organization

1

Nikki Rickard

Seamens Savings Bank

2

Patricia Lotane

Cape Cod Five Cents Savings Bank

3

Ralph K. Coppola

Cape Cod Cooperative Bank

Ranked by volume of loans in November 2020 • Source: The Warren Group

TOP 10 EXISTING HOME SALES

Rank

Street Address Community

Buyer Seller

Date Price

Street Address Community

Buyer Seller

Date Price

1

255 Eel River Road Osterville

John M. Toomey Jr. Elizabeth A. Carr T

10/30/2020 $11,000,000

6

23 Foster Road Falmouth

Kenneth Leibler Brian Stefano

11/23/2020 $3,825,000

2

250 Windswept Way Osterville

Holian FT Gerald W Blakeley

10/28/2020 $7,250,000

7

24 Westwood Road Falmouth

Paul Liberman 2015 RET John B. Conners

10/15/2020 $3,800,000

3

71 Sand Point Osterville

Barry C. Cosgrove T. Jeffrey R. Lindsey

10/16/2020 $6,495,000

8

5 Standish Road Orleans

Christopher T. Pasko Martin RT

11/16/2020 $3,750,000

4

102 Gansett Road Falmouth

Gansett Sunset LLC Michael G. George

10/30/2020 $6,125,000

9

24 Captain Sears Way Chatham

William A. Payne Sachtleben FT

10/19/2020 $3,590,000

5

429 Monomoscoy Road Mashpee

Attila Herczeg John J. Calnan 2015 T.

11/13/2020 $4,000,000

10

387 Monomoscoy Road Mashpee

James A. Swartz Marlin FT

10/16/2020 $3,550,000

• Statistics from Oct. 2019 - Dec. 2019 • New Construction Excluded • Source: The Warren Group

Rank

DECEMBER 28, 2020

BANKER & TRADESMAN | 7

COMMERCIAL REAL ESTATE BUILDING EQUITY

A $10M Commitment for Anti-Displacement in Dorchester

As Feds Step Back, Boston Increases Oversight

Boston’s new zoning rules seek to revive the goals of the Obama administration’s affirmatively furthering fair housing regulation, which required local communities to submit reports on how their land-use policies discourage housing discrimination. The Trump administration revoked the rule in June, calling its 92-question grading tool costly and ineffective.

District 1 City Councilor Lydia Edwards lobbied for Boston to add fair housing tests to its zoning, citing the rapid gentrification of her East Boston district in recent years. Median condo prices in East Boston have more than doubled since 2015 and the year-to-date median sale price hit $562,000 in November, according to The Warren Group.

Marcus Partners Proposes Office-Lab Development

M

arcus Partners will partner with minority- or women-owned architects and construction companies on a 228,000-squarefoot office and lab development in South Boston’s Raymond L. Flynn Marine Park.

The Boston-based developer said it’s planning a 219,000-square-foot office-lab building on parcel O along with adaptive reuse of a 9,000-square-foot building on parcel P for amenity space for the new building’s tenants.

Reflecting the Boston Planning & Development Agency’s recent commitment to bolster minority participation on publicly-owned development parcels, the developers plan to enter a joint venture on design as well as construction, and offer to provide an equity stake in the project to underrepresented investors of color and women, according to a notification form by Marcus Partners Principals Levi Reilly and Patrick Sousa.

The two parcels are owned by the BPDA’s sibling agency, the Economic Development Industrial Corp. of Boston. Marcus Partners recently acquired the property from Au Bon Pain for $25 million and renegotiated the ground lease with the EDIC to reflect an anticipated larger income stream from the new uses. The new 70-year ground lease calls for payments of $2.2 million beginning in 2024, according to a BPDA memo.

At the same time, Edwards extracted larger affordability components from Suffolk Downs developer HYM Investment Group, including some negotiated the same day in September as the BPDA’s approval of the 10.5 millionsquare-foot project including 10,000 apartments and condos.

Image courtesy of Stantec Architecture and DREAM Collaborative

Continued from Page 1 study, which pegged the median net worth of Black Bostonians at $8.

“The majority of anyone’s net worth is coming from real estate, but we haven’t had participation from people of color in the GI Bill and the challenges from redlining,” Sykes said. “Generational wealth can’t be accrued.

We’re looking for diverse homeowners to address the wealth gap.”

Median condominium sale prices in Dorchester have doubled since 2012, according to data from The Warren Group, publisher of Banker & Tradesman, and hit $490,000 in November.

Accordia simultaneously is pledging additional financial contributions and stepped-up affordability guidelines for the on-site housing, to be built on the former Bayside Expo Center site and an office property on Morrissey Boulevard. Instead of the minimum 13 percent affordable units on-site, Accordia started off with a 15 percent floor, equating to 261 units. The average income maximum for those units will be set at 60 percent, or $57,150, compared with the standard 70 percent.

And it’s offering to front-load its $56.4 million housing linkage payment – which is $17.2 million higher than required – to be paid at the issuance of building permits, rather than being spread over seven years.

A ‘Predictable’ Guide for Developers

Sonal Gandhi, the BPDA’s deputy chief of staff, said the new rules will provide developers with “clear, consistent, predictable and fair” guidelines on what is required of them to gain approvals.

Projects in neighborhoods with high displacement risk or a history of exclusion would face additional requirements, such as restrictions on non-owner-occupied units.

To gauge displacement risks by address, the BPDA will furnish developers with neighborhood data from the U.S. Census Bureau’s American Community Survey including percentage of renters and subsidized housing units, median income, percentages of incomerestricted housing stock and household sizes.

Developers, in turn, will be required to provide a two-year snapshot of the property’s history, including whether the property is occupied by either residential or commercial tenants, current vacancy rate and any evictions or other reasons for tenants’ recent departures.

Prior to approval, developers will be required to pick at least one out of 10 “intervention options” to meet fair housing goals, such as providing more affordable units than the city’s standard 13 percent minimum, lowering the qualification for affordable units below the standard 70 percent of area median income

Accordia Partners’ proposed Dorchester Bay City is an early test of the steeper requirements placed on developments by the city’s fair housing zoning amendment.

and including more three-bedroom units to grow the city’s stock of family housing.

And developers are required to pick at least one marketing strategy for diverse populations, such as preferences for housing voucher holders or first-time homebuyers. Projects in neighborhoods with high displacement risk or a history of exclusion would face additional requirements, such as restrictions on nonowner-occupied units.

The fair housing amendment has sailed through unanimous votes of the city council and Boston Planning & Development Agency directors, and now awaits final approval by the Boston Zoning Commission.

Enhanced Help for First-Time Homebuyers

Sykes said a potential partner in the antidisplacement fund is Dorchester-based Massachusetts Affordable Housing Alliance, which offers a two-year-old first-time home-

buyer assistance program offering matching grants to buyers earning 100 percent or less of the area median income. The program received grant funding from Boston Children’s Hospital and the city of Boston.

Residents who attend a first-time homebuyer course are eligible for grants of up to $7,500 toward housing purchases in Boston. The program currently has 150 participants and has contributed to 11 home purchases with average prices of $392,000 since its launch in 2019.

“Most everyone wants to stay in the city,” said Symone Crawford, MAHA’s director of home ownership education. “Unfortunately, the housing crisis is just not allowing people to realize that dream. Having developers be responsible for and be part of the solution, instead of part of the problem, the better it will be for people who have been systematically disenfranchised.”

Email: sadams@thewarrengroup.com

HOT PROPERTY WHAT: MEKETA INVESTMENT GROUP HEADQUARTERS WHERE: 80 UNIVERSITY AVE., WESTWOOD OWNER: NATIONAL DEVELOPMENT BUILT: 2020

• Lee Kennedy Co. has completed construction of a new 40,000 square-foot headquarters for Meketa Investment Group at University Station in Westwood.

• Designed by Fusion Design Consultants, the fit-out within the core-and-shell base building includes a waterfall staircase connecting the reception area to a cafe and coffee bar on the second floor. The office layout includes private workstations, conference and huddle rooms and open space. Double-glazed glass Each week, Banker & Tradesman commercial real estate was incorporated into conference rooms and other reporter Steve Adams spotlights a commercial real estate property in Massachusetts notable for its high deal locations to provide acoustic buffering for confidential activity, unique design or one-of-a-kind special features. discussions.

• Owner’s project manager JLL brought the team on THEY SAID IT: early during the base building construction process to “The new office better reflects Meketa’s innovative, modern and collaborative culture, help advise the builders of their fit-out plans as a way while offering our employees convenient access to public transportation and other to reduce overall costs, such as leaving the stairwell amenities. It was particularly gratifying to use an all-union workforce for the buildout.” area unfinished, and the slab on grade open to — Kellie Kane, managing principal and chief operating officer, Meketa accommodate underground electrical and plumbing.

THINK YOUR PROPERTY IS HOT? Drop Steve a line at sadams@thewarrengroup.com

8 | BANKER & TRADESMAN

DECEMBER 28, 2020

IN PERSON

Community Banker Now Leads Credit Union

Q: Why did you decide to take the role at Naveo Credit Union?

A:

When the opportunity presented itself, and I did some research on the credit union, it really just felt like a great fit for me. I had worked the majority of my career in community banking. The mission of saving together to lend to each other really spoke to me. The credit union has a very diverse and talented team of employees. They live the mission every day, and I just felt really fortunate to be able to have the opportunity to lead this credit union and to be able to help the community and the members – businesses and individuals – achieve their dreams and financial goals.

This has been a wonderful career opportunity for me that I’m very much looking forward to. I feel like I can bring a lot to the growth of the credit union with my leadership skills. My goal ultimately is to be able to move the credit union forward in growth and create employment opportunities for our team members through training, to be able to provide services that the community needs, to be part of that community and to do it in a financially sound manner.

Q: How have the staff reacted to having a new leader from outside the credit union industry?

A:

They’ve been really, really wonderful and supportive. My goals are very much aligned with that of the credit union. I think that they feel that I’m here to move forward the goals of the credit union to help the community, to help the members. Even though I came out of banking, I came out of the community banking side. What makes me feel fulfilled in my career is the mission of the credit union. I’m not coming in here with ultimate goals to do anything different other than to further the credit union mission and to continue to help the community through financial services.

Q: What are your top priorities as leader?

A:

My priorities are employee and team engagement – to work closely with the staff that we have here through training and development, being able to create opportunities for the employees within the credit union; community support and engagement – to be engaged in the community, to further the mission of Naveo in the community, to continue to help our field of membership with their financial needs; and ultimately financial growth and strength of the credit union so we can continue into the future to move forward and to continue that mission.

Q: What future plans do you have for Naveo?

A:

To continue to meet the needs of our community. My plans are to expand our member business loan offerings to be able to reach that segment of our community – the small business owners – and mortgage lending and consumer lending. Also, to expand our technological offerings, whether that be through branches with technology, whether it be through being able to reach our members through technology. 2020 was definitely an interesting year where we had to be a little bit creative in how to reach those members.

Q: What are some challenges and opportunities Naveo faces as a small credit union?

A:

ANDREA WHITE

2020 has certainly been difficult for everybody. It’s been a balancing act of trying to continue to move forward to provide services to our members – safely and prudently – and trying to keep our employees safe at the same time. That’s been very challenging. We’re relatively small, and if we get hit with COVID, it can create a lot of issues with having a limited staff to begin with.

Title: President and CEO, Naveo Credit Union Age: 55 Industry experience: 37 years

BY DIANE MCLAUGHLIN BANKER & TRADESMAN STAFF

A

ndrea White had never worked at a credit union before October, when she became president and CEO of Somerville-based Naveo Credit Union.

But for White, her career in community banking – which started I’m not coming in here when she had a summer job as a with ultimate goals to teller during college – has prepared her to lead the $156 million-asset do anything different Naveo. She took over for long-time other than to further the CEO Rui Domingos, who left Naveo credit union mission earlier this year to become head of MIT Federal Credit Union. and to continue to help Naveo was previously called the community through the Cambridge Portuguese Credit financial services.

Union, and the Portuguese community and culture remain its backbone, White said, even as the organization has expanded with a diverse membership. White most recently worked at Freedom National Bank in Rhode Island.

From an opportunities standpoint, I think the interest rate environment has been really favorable this year for members who have been able to refinance their existing mortgages.

We’ve been very busy with that, and our lending team has done a tremendous job helping our members with mortgage refinances and home purchases. We also took part in the Paycheck Protection Program, and we were able to help our business members with funds through that PPP program. In the short-term, COVID’s been challenging, but we’ve had some opportunities to really help our members, with their lending needs, especially small businesses.

Q: Did working with the PPP influence your plan to expand business loan offerings at Naveo?

A:

I wasn’t here during the processes of those PPP loans, but I have a strong background in small business lending, in addition to being very well rounded in the financial services industry. We’re talking small ones, not large businesses, but the types of members that we have here that have a small business with borrowing needs like any other person or business.

Q: What are your thoughts on being the first female CEO at Naveo?

A:

Naveo has really had a commitment to diversity in its hiring practices. Although I am the first female CEO, I am very proud to say that Naveo has a proven history of accepting and valuing the differences that a diverse workforce provides and the value that it brings to Naveo and the community. So, although I am the first female CEO, I feel that the diversity that the credit union has had a commitment to is just another part of that. I feel like I am very much a part of that inclusive culture.

WHITE’S FIVE FAVORITE THINGS TO DO:

1

Play with her dogs

2

Buy shoes

3

Ski

4

Ride her Peloton

5

Cook

DECEMBER 28, 2020

BANKER & TRADESMAN | 9

BANKING & LENDING BREAKOUT MOMENT

Groups Hope to Grow Fintech ‘Silicon Valley’ in Massachusetts Greater Coordination, State Support Seen as Next Steps doing some really great things inside their institutions and partnering externally,” said Julieann Thurlow, president and CEO of Reading Cooperative Bank. “The more that we can create those partnerships, that ensures that financial institutions will be robust and be competitive.”

BY DIANE MCLAUGHLIN BANKER & TRADESMAN STAFF

W

ith the pandemic shining a light on the struggles unbanked and underbanked individuals, households and business owners faced during the economic crisis, the financial services industry has an opportunity to look for ways to make the system more inclusive.

“I think what spurs out of COVID is this whole new set of people coming in because they now see problems at a very different level than we experienced when the economy was good,” said Mike Fanning, head of MassMutual’s U.S. operations and co-chair of a fintech working group. “That’s just going to probably fill the top of the funnel with new ideas that we couldn’t have even imagined pre-COVID.” And Fanning and others want to make sure these ideas get developed in Massachusetts.

Stakeholders in financial services, financial technology and government have been exploring how to develop the local fintech ecosystem and make Massachusetts the world’s top destination for fintech startups.

Part of that ecosystem would include the state’s community banks and credit unions, giving them access to entrepreneurs working to address the financial system.

“There’s some really great banks that are

Coalescing the Ecosystem

Globally, fintech investments increased from $8 billion in 2010 to $110 billion in 2019, according to an October report conducted on behalf of the Mass Tech Collaborative by Ernst & Young LLP. The report also found that Massachusetts has more than 350 financial technology startups, and last year 9 percent of new U.S. fintech startups were located in the state.

Massachusetts has more than 350 financial technology startups, and last year 9 percent of new U.S. fintech startups were located in the state.

“That’s without even trying,” Fanning said of the findings.

The state did begin recognizing the economic potential of fintech following a 2018 study by the Executive Office of Housing and Economic Development into ways to grow the state’s innovation economy. The study identi-

With a preexisting network of financial services firms, venture capitalists and entrepreneurs, industry boosters say Massachusetts could become one of the world’s top destinations for fintech startups.

fied fintech as an area for further support and attention.

A working group was founded in 2019, co-chaired by Fanning and EOHED Secretary Mike Kennealy, to develop a strategy for expanding fintech and, in turn, financial services in the state.

Thurlow, Lamont Young of Citizens Bank, Vasilios Roussos of the DCU FinTech Innovation Center and Siobhan Dullea of MassChallenge are among the working group’s 24 members.

Massachusetts already has a combination of assets that make it almost unique compared to other places with fintech startups, Fanning said, including financial services firms, venture capital, a network of entrepreneurs, universities, fintech incubators and state and regulatory agencies supportive of the innovation economy.

What the state needs now is a way to coor-

dinate these independent pieces, Fanning said, adding that Massachusetts has an advantage over other cities because of its potential to bring the different parts of the ecosystem together.

“You see this on the consumer side in Silicon Valley, between venture capital and mentorship and others that are there to create that ecosystem where entrepreneurs can thrive,” Fanning said. “I think we have the opportunity to do the same thing – it’s about getting these pieces to talk.”

Partners, Not Disruptors

Sarah Biller, co-founder of FinTech Sandbox, a not-for-profit organization providing data to startup firms, said that much of the past decade of fintech innovation involved disrupting the industry. But what has been more effective, she said, are the partnerships between financial services and entrepreneurs.

Continued on Page 10

GOSSIP REPORT 1

NANTUCKET

Address: 22 Easton St., Nantucket Price: $15,750,000 Buyer: 22 Easton Street LLC Seller: 22 Easton St NT Size: 3,320 square feet on 0.62 acres Sold: 12/8/2020

4

With the chill driving many inside this month, the new owners of the fourth home on this week’s Gossip Report are likely cherishing something many of us don’t have: a large outdoor fireplace on their patio. Combined with indoor/outdoor living areas on both floors, this home is ready for year-round enjoyment.

5 2,3

2

3

EDGARTOWN

EDGARTOWN

Address: 115 S. Summer St., Edgartown Price: $4,625,000 Buyer: Lynda Loigman and Robert Loigman Seller: James E. Dixon and Tanja A. Dixon Size: 3,864 square feet on 0.23 acres Agent: Thomas E. Leclair, LandVest Sold: 12/7/2020

Image courtesy of Google Maps

Address: 52 Fuller St., Edgartown Price: $6,500,000 Buyer: Samuel Allen Hamood RET Seller: Barry Lundgren Size: 4,815 square feet on 0.23 acres Sold: 12/11/2020

4

CHATHAM

Address: 10 Fairway Drive, Chatham Price: $3,900,000 Buyer: Beach Dog Realty LLC Seller: William L. Buggie Size: 4,544 square feet on 0.46 acres Agent: Christopher L. Rhinesmith, Compass Sold: 12/8/2020

5

1

TISBURY

Address: 21 Sarita Walker Road, West Tisbury Price: $3,900,000 Buyer: Salim Akil and Mara Brock-Akil Seller: Charlotte Caskey and Scott M. Caskey Size: 2,872 square feet on 6.9 acres Sold: 12/7/2020

10 | BANKER & TRADESMAN

DECEMBER 28, 2020

RESIDENTIAL REAL ESTATE POPULARITY CONTEST

Demand for Space, Home Offices Set to Drive 2021 Market Buyer Tastes Whipsawed by Pandemic

BY JAMES SANNA BANKER & TRADESMAN STAFF

B

uyer tastes did not escape being influenced by the COVID-19 pandemic in 2020, and Realtors and brokers say many of those changes look set to continue to influence the market in 2021.

“What really surprised me is how quickly behavior changed,” said Jack Conway & Co. President & CEO Carol Bulman. “In December 2019, people wanted an open floorplan, they wanted to be close to the city, no one was concerned about having to use an elevator.

But now those properties are sitting on the market longer.”

From condominiums in the urban core to single-family homes in the suburbs, many buyers were hunting for more space, whether that was indoor elbow room or a yard to run around in.

“People had been saying they wanted more manageable, more affordable homes. That changed because people say, ‘I’m going to be spending more time in my home,’” said Kurt Thompson, a broker associate with Keller Williams Realty / North Central in Leominster and the 2020 president of the Massachusetts Association of Realtors. “[Pre-pandemic], 1,000 to 1,200 square feet was a very common square footage for first-time buyers.

I’m seeing that now push towards 1,400, 1,600 square feet. People say ‘I need a home I can

expand [my family] in or a place where I work from home or just more space if I’m going to continue to be confined.’”

More Elbow Room

Inside the home, every agent or broker interviewed for this story said, much of that extra square footage has gone to an extra bedroom that can be used as an office or a “Zoom room” for children whose schools are teaching remotely or in a hybrid in-person/remote model.

Outside the home, that same desire has translated to single-family buyers putting a premium on yards and what can be done with them – “I know of pool companies that were booking out into 2021,” Waltham-based Lamacchia Realty Realtor Matt Czepiel said, a 180-degree reversal after years where pools almost carried a stigma among buyers for their maintenance costs – and condo buyers seeking out properties with some form of private outdoor space, however small.

“I think people just want more space than what they’ve had or what they’ve needed in prior years. They might trade off a little bit of quality for outdoor space,” Czepiel said. “I’ve had some clients who’ve said, ‘If [a condo] doesn’t have a deck I’m not looking at it,’ and they can get away with it in the first time in a while.”

Brookline-based Gibson Sotheby’s Unlimited principal and Managing Broker Jon Ufland said his agents have had many buyers who value outdoor kitchenettes and structures or porches that extend how long a home’s yard can be used throughout the year.

Porter Square Faces Opposition Continued from Page 3 fordable housing” and calling it a “question of social justice.”

So, what’s really driving this push by some city officials to give a haircut to this desperately needed affordable apartment building?

Well, it’s the neighbors, of course.

They are up in arms over what they say is a dearth of parking for the project, saying it would be “too dangerous” – in the words of the Cambridge Day – to add another 200 residents to already-congested Porter Square.

While the building has just three parking spaces, is also within a short walk from the Porter Square MBTA station. After all, isn’t that what transit-oriented development is all about?

I’d imagine that even if half those residents had cars, it would be a drop in the bucket, if

that, in terms of the overall volume of traffic that passes through Porter Square each day, to visit its shops and restaurants, or just to pass through.

And, of course, the neighbors definitely don’t like the height, with one letter writer warning the 9-story building would “tower” over adjacent buildings.

I’d bet there would be hundreds if not thousands of families of working-class and middle-class families who would be willing to risk the dangers of living in Porter Square – who knew? – in exchange for a decent, affordable place to live.

It’s time for Cambridge to end this farce and do the right thing.

Scott Van Voorhis is Banker & Tradesman’s columnist; opinions expressed are his own. He may be reached at sbvanvoorhis@hotmail.com

Nelson Painting

offers interior painting services for your home or business.

We are a family owned and operated business since 1960.

Using the highest quality paint products available, and we stand behind our work. Our prowess in interior residential as well as commercial painting has taken our business to projects from Boston to Cape Cod. Located on the south shore in Plymouth.

We service areas including but not limited to Plymouth, Duxbury, Kingston, Pembroke, Marshfield and surrounding towns.

We are dedicated to serving our customer’s needs, and our goal is 100% CUSTOMER SATISFACTION. We strive to bring you the best in quality service.

Nelson Painting, Inc.

273 Long Pond Road Plymouth, MA 02360 Phone: 508-746-6432 • Email: mnelson119@comcast.net Nelsonpainting.com

While it may be too soon to tell if the trend lasts, agents say buyers seem to be moving away from open-plan homes where families cooped up together by the pandemic can’t get away from each other.

“If you think about it, [these spaces were] really the only way when we ever got to see our friends, to hang out outside and socially distance” during the year, he said.

Open Plan on the Outs

Once a hot commodity thanks to their value as entertaining spaces and their ability to connect family members on the same floor, openplan first floors appear to be losing popularity, Realtors said. More than a few buyers he helped looked for open-plan homes that still had the ability to close off areas into offices, Ufland said.

This need for a separate office could be a lasting feature of the market. Many white-collar buyers seem to have faith that remote work will be a part of their lives, at least for part of the week, for some time, he said.

This faith helped some buyers feel comfortable with buying single-family homes further away from work but closer to family or further into the suburbs where homes are more

affordable, Czepiel said. It also drove demand for home office space in condominiums.

“If their family is west [of Boston], they will start looking west instead of the North Shore if they had been looking North Shore previously,” he said. “Pre-COVID one of the most important things was commute, and now it’s one of the least important things for my clients. That was the biggest change.”

These sudden changes in buyer tastes could put some homes at a disadvantage, however.

Buyers are still putting a premium on recently renovated homes, Jack Conway’s Bulman said.

“I think the buyer today is less interested in pulling down wallpaper and doing over the cabinets. If anyone’s looking to sell right now, they should focus on kitchens and bathrooms,” she said. “The best thing to do is to speak to their Realtor and ask them for an honest opinion: I have $20,000 to spend, what should I do?”

Email: jsanna@thewarrengroup.com

Smith Named Cape Ann President

C

ape Ann Savings Bank will have a new leader next summer when Marianne Smith takes over as president from Robert J. Gillis Jr., who will retire after more than 45 years at the Gloucester-based bank.

President since 2017, Gillis will retire on July 30, the bank said in a statement. Cape Ann Savings Bank’s board of trustees named Smith to succeed him. She is currently the bank’s executive vice president and chief financial officer.

After working at the bank as a teller in the late 1980s, Smith rejoined Cape Ann Savings Bank as vice president and treasurer in 2013. She has over thirty years of banking and regulatory experience.

Smith has worked as a bank examiner with the Massachusetts Commissioner of Banks

and in accounting and finance positions at multiple local institutions.

She is board president of the Cape Ann YMCA, an advisory board member of the Massachusetts Bankers Association Women in Banking, a board member of the DDS North Shore citizen’s advisory board, as well as an avid supporter of the organization, Autism Speaks.

“Marianne and I have worked closely together since I became president of the bank in January of 2017,” Gillis said in the statement.

“She brings numerous skills to the table and a great work ethic. I am proud to have had the opportunity to work with her since she arrived at the bank more than seven years ago and am confident that she is the right leader for the organization for years to come.”

Local Banks Seen as Winners as Fintech Grows Continued from Page 9 “Rising tides are going to lift all of our ships,” Biller said in a joint interview with Fanning, who recently joined FinTech Sandbox’s advisory board. “When the institutions come together with the entrepreneurs, and we’re able to retain the amazing talent we have in our universities – and the capital comes to bear at the table too – we’ll do great things.”

Thurlow with Reading Cooperative Bank said fostering these partnerships provides win-win situations for fintechs and financial services providers, particularly as a way to keep more banking products and services in a regulated environment.

Being part of fintech ecosystem will be especially important as the industry accepts that change will be needed in banking.

“Innovation is always evolving, and it actually comes about because of friction, so wherever you find friction there’s an opportunity to innovate,” Thurlow said. “For years everybody expected banking services to be delivered in one way, and the pandemic has just identified for us that that’s not the case.”

Biller expects Massachusetts fintech firms to focus on solving societal problems brought to light by the pandemic.

“The commonwealth has been known for its ability to create breakthrough ideas in biotech and in life sciences,” Biller said. “And now we’re really excited that financial services also has its moment to actually break out and be a place where great problems are solved.”

Email: dmclaughlin@thewarrengroup.com

122720

DECEMBER 28, 2020

BANKER & TRADESMAN | 11

CLASSIFIEDS SECTION

THE ONE PLACE TO FIND OPPORTUNITIES

Classified Ads can also be accessed online. Visit bankerandtradesman.com and click on The Marketplace.

RESIDENTIAL REAL ESTATE

COMMERCIAL REAL ESTATE

EDUCATION

AUCTION

PROFESSIONAL SERVICES

HELP WANTED

To place an ad in Classifieds, email advertising@thewarrengroup.com or callBanker 617-896-5307.

PREPARED FOR: PESCO PUBLICATION: & Tradesmen

ED BY: S. SAPERSTEIN AD SIZE:

SECTION: Auctions

NE:

RUN DATE: 12/28/2020

AUCTIONS AUCTIONEERS • APPRAISERS

PAUL E. SAPERSTEIN CO., INC.

THE WARREN GROUP

|

MARKETING LISTS

144 Centre Street, Holbrook, MA 02343 Tel: 617-227-6553 •www.pesco.com MA Lic 295, N.H 2508, R.I 9246, VT 057-0002204 Mortgagee’s Sale of Real Estate at Public Auction

MILFORD Senior Housing Community 4 Total Parcels 245 West st., Milford, MA thurs, JAn 14, 2021 At 11AM 6+ acres of land improved by a 48,565+/-sf assisted living facility licensed for 79 units. Community has salon, laundry, central dining room, activity center & library. 2 parcels of undeveloped land surrounding property included. Terms of sale: A deposit of $80,000 by cash, certified or bank check will be required at the time & place of sale & additional deposit within 3 days of the sale equal to 5% of the bid price & balance due in 30 days. All other terms announced at sale. Neither Auctioneer, Mortgagee nor Attorney make any representations as to the accuracy of the information contained herein. Lawrence R. Kulig, Eckert, Seamans, Cherin & Mellott, LLC, Boston, MA, Attorney for the Mortgagee. Please follow current state and CDC COVID-19 guidelines, Masks & Social Distancing required at sales.

?

IDENTIFY NEW

PROSPECTS

The Warren Group compiles the most accurate and detailed transaction information in the

country and offers a broad range of marketing lists for more than 130 million households across the country.

Pinpoint Your Next Customer With Our Marketing Lists Today!

Visit www.thewarrengroup.com to view current promotions. Contact 617.896.5388 or email customerservice@thewarrengroup.com for more information.

V I S I T C L A S S I F I E D S. B A N K E R A N D T R A D E S M A N. C O M

12 | BANKER & TRADESMAN

DECEMBER 28, 2020

MONTHLY TRANSFER DIRECTORY REPORTS PROVIDED BY THE WARREN GROUP

MONTHLY TRANSFER DIRECTORY REPORTS

IDENTIFY ALL REAL ESTATE TRANSACTIONS IN YOUR AREA ORDER YOUR MONTHLY REPORTS TODAY!

BENEFITS:

Monthly Transfer Directory (COMP) Reports are a comprehensive

•

Gives you easy access to comparable sales and their assessment details in the areas you care about most.

•

A year-end compendium you can file away for future reference and research.

•

Available in easy to read PDF format or in print for an additional cost.

•

Includes all sales, including foreclosure deeds and fsbos, so you won’t miss a thing!

•

Order an individual town, county, or state of your choice (MA, NH, CT, RI). County level includes all towns within that county.

property valuation andmarket resource containing sales transactions for all properties and their related assessment information, in an easy–to–read and portable report.

Each report lists every real estate transaction over $1,000, by market, including FSBOs, estate sales and foreclosure deeds for MA, NH, CT and RI.

TRANSFER REPORTS COMPILE ACTIONBLE DATA • Perform comparable sales analysis • Verify appraisals • Identify sales trends • Locate new homeowners for marketing campaigns

SUBSCRIBE NOW! Call 617.896.5388 or email customerservice@thewarrengroup.com to order today!

THIS MONTH: MULTIFAMILY TRENDS | NEXT MONTH: GATEWAY CITIES

INSIDE TRACK

Food Hall, Theater Endorsed for Nubian Square DECEMBER 28, 2020

A BANKER & TRADESMAN COMMERCIAL REAL ESTATE SPECIAL SECTION

S H A R E D S PA C E

A diverse development team will lead the 329,000-square-foot development of a 2-acre city-owned parking lot in Roxbury’s Nubian Square into a new retail and cultural hub.

Nubian Ascends Partners proposes a ground-floor artisan marketplace, cultural hall and theater, a food hall with products from an on-site culinary arts program and a floor of subsidized commercial space for local businesses.

Plans also include 15 artist live-work housing units and a 5,500-square-foot art studio. The ground floor would be capped with 135,000 square feet of office space spread over five stories, which the developers plan to finance separate from city or state subsidies and which will be used to help fund the rest of the project.

The Boston Planning & Development Agency’s directors approved the tentative designation of Nubian Ascends Partners, clearing the way for the team to begin preparing its formal submission.

The partnership includes developer Richard Taylor, the director of Suffolk University’s Center for Real Estate, Kai and Chris Grant of Roxbury economic development group Black Market, and Mario San Jacinto of Almiranta Capital LLC.

BPDA Clears Way for 802 Housing Units Developers received Boston Planning & Development Agency approval for 802 housing units, including 378 compact living-style apartments at a pair of properties in Allston and Dorchester.

Developer LBC Boston’s Allston Green development at 20 Linden St. will include 349 compact living apartments in three buildings, including 53 income-restricted units.

Developer LBC Boston estimates that the cost savings from the smaller unit sizes will enable it to offer apartments at $300 below average rents for similar new projects in the neighborhood, while offering more expansive common areas, outdoor amenities and ground-floor art co-working space next to six artist live-work units.

Dorchester-based TLee Development is planning to build 29 compact living apartments in a fivestory building at 1463-1469 Dorchester Ave. The project was not required to include on-site parking because of its proximity to the Fields Corner station on the MBTA Red Line, but will provide 30 bicycle storage spaces along with a 1,360-square-foot ground floor retail space.

More than 1,200 compact living units in 14 developments have been approved under the city’s pilot program since 2018.

INSIDE Pandemic-Proof Goals In Multifamily Designs, Tech Takes a Front Seat Page B4 Natural Surroundings Biophilic Design Creates Better Environments in Buildings Page B6

Coliving Seeks IMMUNITY FROM VIRUS Boston Developers Remain Believers in New Multifamily Model

BY JAY FITZGERALD SPECIAL TO BANKER & TRADESMAN

L

ocal developers of innovative housing insist the coliving trend has not succumbed to the risks of COVID19, despite reports of its demise.

Industry players agree that the multifamily rental market has taken a major hit in some urban areas around Greater Boston and across the nation, as many college students stay home and a few tenants flee cities for the perceived safety of the suburbs during the pandemic. Combined with the recent economic downturn, apartment vacancy rates have risen and rental prices have softened significantly as a result.

The sharp decline has led some to question whether so-called “coliving”

ventures – or housing projects in which renters share spaces such as kitchens, bathrooms, common areas and other amenities in exchange for lower rent prices – can survive the pandemic and the shift toward socially distanced work and living arrangements.

But local developers behind two coliving projects in Boston – 7Ink in the South End and Common Allbright in Allston – says they’re proceeding with their plans and have every intention of opening in coming years.

Meanwhile, operators of coliving units in other cities say their “shared living” dwellings around the country, including in New York and San Francisco, performed better than expected even during the height of the pandemic.

Continued on Page B7

Among the recent design changes to 7Ink, according to Tye: more operable windows, improved air filtration, adding smaller meeting rooms, additional spacing in gathering areas and investing more heavily in our outdoor areas.

B1

B2 | BANKER & TRADESMAN | CRE INSIDER

DECEMBER 28, 2020

Kenan Bigby TITLE:

Managing director of development, Trinity Financial AGE:

46 INDUSTRY EXPERIENCE:

25 years

A Growing Northeast Footprint in Housing Production

BY STEVE ADAMS BANKER & TRADESMAN STAFF

Q: What was the impetus for Trinity’s entry into the New York City market in 2013?

We’re big proponents of mixed-income. We want to make sure the redeveloped properties are set up for long-term success and financial viability. Mixed-income is the way to do that. A lot of the problems you see with public housing historically is because they’ve been just that: limited to units that serve only the most distressed or lowest-income members of the community, and a public housing program that has over time invested less and less into upkeep.

A:

Our business strategy has always been to diversify geographically, but do it in a way that we can have a real presence in the communities that we work in. We’re not a firm that’s looking to go national or expand too far, or depend on others to be our boots on the ground. So within those constraints, New York made sense geographically. The challenges there are that it is an insular market and we knew in order to make a real run at it, we needed to do our homework and set up a foundation before expanding. On the plus side, in the affordable housing universe, a lot of folks we’ve done work with in other locations have a New York presence and we could build on existing relationships.

It was serendipitous as we were ramping up those conversions, the New York City Housing Authority issued a request for proposals for Randolph Houses in Harlem, an existing asset they were looking to bring on a private partner to redevelop. At the time, NYCHA wasn’t really known for this model of redevelopment. It was sort of a feeler for how they would incorporate this into their portfolio, and Trinity has experience in other locations. There were historic tax credits involved and a strong and well-established resident association, and all of those things are part of our formula. This seemed like the perfect op to throw our hat in the ring.

Q: How does that project compare with your ongoing transformation of the Orient Heights property in East Boston?

A:

There are a lot of similarities. One of the differences between Boston and New York is just the scale of things, the larger universe of development happening, where in Boston something like this would be a big piece of the pipeline, and in New York it’s sort of a drop in the bucket. To bring creativity about how to approach it, we figured out a way to preserve enough of the existing structure to qualify for historic tax credits. We were the only team to suggest that and be able to pull that off. One of our core business principles is the care that we take in our projects and I think the city was relieved they didn’t have to worry about bad press from disgruntled residents who would be mistreated in the redevelopment.

Q: What has Trinity’s experience in these mixed-income conversions taught the firm about best practices to

A:

apply to current projects?

Phase two was just completed earlier this year and is leasing up, and we’ll move into phase three next year. This is an approach that we have employed throughout the history of the company.

In redeveloping these properties, income-mixing is key to make sure there’s not an overreliance on public dollars. That goes up and down, and can change from one administration to the next.

The challenge is correcting the perception of these developments, because of time and lack of investment they’ve fallen into disrepair. There’s quality of life and crime issues. Each community has its own set of challenges.

Q:How do you overcome those perceptions when marketing the new units?

A:

One is just the quality of construction. We want to make sure the units are comparable. We’ve been aggressive about incorporating sustainability and green technologies that get passed onto residents in reduced energy costs. And there’s clearly initially some discount against top-of-the-market units, so you’re getting as good or better than other units at a better price point. It also comes down to the people working on the site – the community managers and maintenance and resident service folks – working really hard to create a sense of community that is inclusive and appeals to a wide array of residents. We manage them to the high standard of market-rate housing.

Q:Cities, In evaluating developments in Massachusetts’ Gateway what are your criteria?

A:

There’s a handful of Gateway Cities that have been actively prospecting. We’re active in Lawrence, Worcester, Brockton and also done some work in Lowell. The factors we look at are the leadership and vision of the administration there: Do they have a plan or at least a willingness to work with developers? Do they have a strong planning department? A streamlined or efficient approach to permitting? And access to transit is another one. We’re big proponents of transit-oriented development. And then it’s looking at the underlying economics: Do we see growth potential? As a company, we aren’t shy about being first in. But we want to at least see a progression or a possibility, so our investment will remain sound going forward.

Trinity Financial is finding opportunities to expand its portfolio through partnerships with housing authorities in Boston and New York that are redeveloping public housing properties into mixed-income communities.

This month, the New York Housing Conference named Trinity Financial its 2020 Developer of the Year for its “community-driven” approach to urban housing projects. The group praised Trinity’s diverse team for delivering highquality projects and its commitment to the communities they serve.

The company first entered the New York market in 2013 with a redevelopment of the Randolph Houses public housing complex in Harlem, and opened a Manhattan office in 2015 that’s overseen a total of 1,110 housing units’ construction with total investment of $661 million. Closer to home, Trinity marked the completion in November of phase two of the Overlook Terrace at Orient Heights project. The partnership with East Boston Community Development Corp. demolished 87 units in four buildings at the Boston Housing Authority-owned property, while constructing 88 public housing apartments and townhomes.

BIGBY’S FIVE FAVORITE LOCAL BREWERIES: 1. Trillium Brewing Co. 2. Widowmaker Brewing Co. 3. Vitamin Sea Brewing 4. Dorchester Brewing Co. 5. Castle Island Brewing Co.

DECEMBER 28, 2020

BANKER & TRADESMAN | CRE INSIDER | B3

LAW OF THE LAND TIMING IS EVERYTHING

SJC Issues Landmark Ruling on Condos Statute of Repose Key to Hingham Dispute

BY CHRISTOPHER R. VACCARO SPECIAL TO BANKER & TRADESMAN

D

efense attorneys appreciate statutes of limitations, but truly love statutes of repose. The differences between such statutes seem arcane and technical to most people, but to attorneys the differences are huge.

Statutes of limitations and statutes of repose both serve similar purposes; namely, to protect potential defendants from having to answer lawsuits filed many years after their alleged wrongdoing. As years pass between the dates when defendants’ misconduct occurs and when plaintiffs file their lawsuits, it becomes harder for defendants to gather exculpatory evidence and witnesses.

of repose works well for developers, contractors and architects, but not so much for owners of residential condominium units.

A homeowners’ association (HOA) learned this last month in D’Allessandro v. Lennar Hingham Holdings LLC.

Trouble at Hewitts Landing

Hewitts Landing Condominium consists of 150 residential units in 28 buildings, developed in 24 phases between 2008 and 2015. In 2017, the condominium’s HOA filed suit against the developer in Superior Court, alleging design and construction defects in the project’s decks, roofing, exterior walls and irrigation system.

The developer removed the case to federal court, then argued that the Massachusetts statute of repose barred the suit for defects in six buildings that were completed more than six years before the HOA’s suit was filed in 2017. The developer argued that the statute’s six-year time limit should begin to run separately for each building upon completion, so that the HOA’s suit would be dismissed as to those six buildings.

The federal court rejected the developer’s argument. It ruled that all phases of the condominium should be treated as a single improvement for purposes of the statute of repose, and the six-year period for all phases did not begin to run until 2015, when the last building was completed. However, the federal court recognized that its ruling required an interpretation of Massachusetts state law, and there was no controlling Massachusetts Supreme Judicial Court precedent on this issue. The federal court certified a question to the SJC on whether the sixyear period begins to run multiple times upon completion of each building, or only once upon completion of the last building.

A noteworthy Massachusetts statute of repose requires that lawsuits arising from construction or design defects in buildings and improvements must be commenced within six years after the buildings and improvements are completed.

But statutes of limitations can be tolled (that is, suspended) for various reasons, such as when plaintiffs are unable to realize that they have been injured or to determine who might be responsible for their injuries. In contrast, statutes of repose cannot be tolled for any reason. They impose absolute time limits on when plaintiffs can sue potential defendants. Statutes of repose bar plaintiffs’ claims after the statutory period expires, even when plaintiffs’ injuries do not occur or are not discovered within that limited timeframe.

A noteworthy Massachusetts statute of repose requires that lawsuits arising from construction or design defects in buildings and improvements must be commenced within six years after the buildings and improvements are completed. The time limit applies even if the defects were undiscoverable during the six-year period. This statute

SJC Calls on Legislature

The SJC answered this question in favor of the developer, stating that “where a condominium development is comprised of multiple buildings, . . . each building constitutes a discrete ‘improvement’” for purposes of the statute of repose, and “the opening of each individual building to its intended use, or the substantial comple-

Now Available Online Banker & Tradesman now offers commercial real estate records online, as well as in its monthly CRE Insider special sections.

State legislators are considering changes to a law that sets limits on the window during which lawsuits can be filed for defects in developments.

tion of the individual building and the taking of possession for occupancy by the owner or owners, triggers the statute of repose.” As a result of the SJC’s ruling, the HOA is barred from maintaining its lawsuit on defects in the six buildings completed more than six years before it filed suit in 2017.

The SJC recognized that its decision imposes difficulties on unit owners when developers retain control of HOA’s for years after completing the first buildings of phased projects. The SJC noted that HOAs have the exclusive right to sue for defects to common areas, and developers who control HOAs are unlikely to sue themselves. However, the SJC recommended that this concern be addressed

VISIT

to explore transactions statewide.

Christopher R. Vaccaro is a partner at Dalton & Finegold in Andover. His email address is cvaccaro@dfllp.com.

For a complete list of commercial property sales that have closed in the past month, see our full monthly review, starting on page B8.

480 Sprague St, Dedham.......................$46,750,000

65 Sunnyslope Ave, Tewksbury..............$18,750,000

500-528 Commonwealth Ave, Boston....$84,904,000

300 Crown Colony Dr, Quincy................$17,950,000

1 National St, Milford.............................$52,700,000

4 Enterprise Rd, Billerica......................$16,240,000

64 Leona Dr, Middleboro.......................$50,000,000

89-95 Longwood Ave, Brookline............$13,000,000

235 Old Connecticut Path, Framingham.....$23,500,000

47 Dunham Rd, Billerica........................$11,760,000

Use: Commercial Warehouse B: NP Sprague Street LLC S: EB&GP3 480 Sprague St LLC Date: 10/23/20 Total Assessed Value (2020): $12,359,000 Lot Size: 644688sf Prior Sale: $15,400,000 (05/15)

Use: Shopping Ctr/Mall B: Kenmore Square Hotel LLC S: XHR Boston Comm LLC Mtg: Athene Annuity $57,500,000 Date: 11/20/20 Total Assessed Value (2020): $23,584,100 Lot Size: 36220sf Prior Sale: $44,000,000 (12/19)

Use: Manufacturing Building B: NR 1 National Street LLC S: Milford National LLC Date: 11/17/20 Total Assessed Value (2020): $6,903,500 Lot Size: 1483218sf Prior Sale: $4,100,000 (12/18)

Use: Commercial Warehouse B: Salkovitz FT 2 LLC S: Christmas Tree Shops LLC Date: 11/13/20 Total Assessed Value (2020): $45,200,700 Lot Size: 3833280sf

https://bit.ly/2OntR7Q

by the Massachusetts state legislature, not the courts.

As it turns out, the state legislature is now considering a bill amending the statute of repose, which would postpone the start of the six-year statutory period at least until both the last phase of a condominium is complete or phasing rights expire, and control of the HOA transfers from the developer to the unit owners.

The fate of this bill is uncertain, but the bill is expected to get much attention from advocacy groups representing HOAs and developers.

Use: Supermarket B: RK Framingham 2 LLC S: Equity 1 JV Sub Ct Path Date: 11/24/20 Total Assessed Value (2020): $13,545,500 Lot Size: 409765sf Prior Sale: $23,200,000 (12/11)

Use: Manufacturing Building B: P8 Tewksbury Propco LLC S: Albany Rd Sunnyslope LLC Mtg: Cambridge Svgs Bk $22,900,000 Date: 11/10/20 Total Assessed Value (2020): $7,837,000 Lot Size: 902563sf Prior Sale: $11,058,960 (09/15)

Use: Commercial Building B: GCP Crown Colony 2 LLC S: MF Crown Colony 1031 LLC Mtg: Boston Private Bank $12,800,000 Date: 11/17/20 Total Assessed Value (2020): $18,060,500 Lot Size: 272250sf Prior Sale: $16,080,000 (12/13)

Use: Industrial Warehouse B: BSREP 3 4 Enterprise LLC S: M Bruce Ohanian Tr, Tr for Ohanian Heath RT Date: 11/19/20 Total Assessed Value (2020): $5,204,300 Lot Size: 284447sf

Use: Apartment Bldg - 9 + Units B: 89-95 Longwood Ave LLC S: Bette R Allen Tr, Tr for Buehler RT Mtg: Hingham Inst for Svgs $7,950,000 Date: 11/24/20 Total Assessed Value (2020): $8,937,700 Lot Size: 20957sf

Use: Industrial Warehouse B: BSREP 3 45-47 Dunham LLC S: M Bruce Ohanian Tr, Tr for Dunham Road T Date: 11/19/20 Total Assessed Value (2020): $4,746,700 Lot Size: 279655sf

B4 | BANKER & TRADESMAN | CRE INSIDER

DECEMBER 28, 2020

WORDS OF WARNING

Failure to Protect Renters Will Imperil Entire Economy Federal Aid to Renters Will Prevent a New Housing Crisis

BY ROBERT E. DEWITT SPECIAL TO BANKER & TRADESMAN

A

s we approach winter, we are living through an alarming spike of coronavirus cases, and while a vaccine has been approved in record time, it will likely take several Robert E. DeWitt months to reach all Americans. While we remain vulnerable, our economy – both nationally and here in Massachusetts – is lagging. In order to stave off a wholesale crash and the distress that comes with it, we must do everything in our power to keep apartment residents current on their payments and ensure a stable housing market in the state and across the country. Failure to do so could lead to another 2008-style collapse, when the housing market took down the entire economy with it.

Though the stock market has rebounded from its precipitous drop at the onset of the pandemic, millions remain unemployed. According to the Massachusetts Office of Labor and Workforce Development, nearly 26,000 residents filed an initial claim for unemployment insurance during the first week of December.

Since March 15, more than 1.6 million claims have been filed in the commonwealth.

In a rare act of bipartisanship, Washington came together in the early months of the pandemic to pass a comprehensive relief package, which included direct assistance to millions of Americans as well as expanded unemployment insurance. The bold move helped renters stay current ini-

tially, but relief funds have since dried up and the expanded unemployment benefits have expired.

Now, millions of unemployed Americans have been unable to keep current on their rent and mortgage payments. The National Multifamily Housing Council, which represents apartment owners, developers and managers, found that 25 percent of renters failed to make their complete rent payment by the end of the first week of December, a 5 percent drop from the previous month. And a Moody’s Analytics study revealed that 12 million renters owe an average of $5,850 in back rent, totaling $70.2 billion.

Eviction Moratorium Only Delays Inevitable

Since the initial relief package, the federal government’s response has been to impose a sweeping federal eviction moratorium on top of dozens of state and local moratoria enacted shortly after the crisis began.

A study by Moody’s Analytics determined that 12 million renters are behind an average of $5,850 on payments, representing a total of nearly $70.2 billion.

payments used to fund ongoing local government expenditures – let alone maintenance and property personnel costs.

With missing rent payments, many property owners are teetering on the brink of economic ruin. Without assistance directly to renters that keep them current on rent, many property owners will be forced to sell or default on their mortgages and lay off staff, removing desperately needed units from the mar-

Without assistance directly to renters that keep them current on rent, many property owners will be forced to sell or default on their mortgages and lay off staff – removing desperately needed units from the marketplace at a time when they are keenly needed.

However well-intended, eviction moratoria only kick the can down the road for renters who are amassing untenable levels of debt that they will struggle to ever make good on. They also leave property owners struggling to keep up with their mortgages, insurance and real estate tax

ketplace at a time when they are keenly needed.

As of this writing, members of Congress have passed a second stimulus package, including expanded unemployment insurance and rental assistance. The package includes $25 billion in assistance

for renters – a significant figure, to be sure, but just a third of the back rent still outstanding. Nevertheless, it is an important step in the right direction.

Follow Massachusetts’ Example

Washington should look to the bipartisan example set on Beacon Hill to provide relief to owners and tenants. In October, the Baker Administration announced a $171 million plan aimed at diverting evictions through expanded rental assistance, mediation and rehousing programs. The program increased the maximum Residential Assistance for Families in Transition (RAFT) benefit available from $4,000 to $10,000 per household, with $100 million available for the program this fiscal year.

Landlords who own up to 20 units are now able to apply directly for RAFT/ ERMA funding on behalf of eligible tenants who are behind on rent. A free mediation program the administration helped launch with the Office of Public Collaboration has been available for landlords and tenants since Nov. 16. Most recently, House and Senate leaders made substantial investments in housing subsidies and Continued on Page B5

PA N D E M I C - P R O O F G O A L S

In Multifamily Designs, Tech Takes a Front Seat Beverly Development Adapts to Work-from-Home Needs SPECIAL TO BANKER & TRADESMAN

A

ccording to the 2019 Zillow Consumer Housing Trends Report, 43 percent of Gen Z buyers and 35 percent of Millennials rated smart home features as Mike Procopio “very important,” and although Zillow’s 2019 report shows older generations are less concerned with smart technology, we anticipate the desire for technology will continue to grow as younger generations continue to enter the market to rent and buy.

In fact, we’ve found that at The Procopio Cos.’ multifamily properties, the current pandemic has increased tenants’ desire for technology, particularly when it comes to touchless capabilities, or controlled access from smartphones and other personal devices.

At one time, smart homes were perceived to require extensive wiring, many screens, complex controls and the valid fears of rapid obsolescence. Renters can now control the entire multifamily experience from the palm of their hand – from video entry systems and security smart

locks to lighting and heat controls, to smart speaker systems – and have confidence that in the internet of things, the tech can keep up with the times.

Benefits for Owners and Tenants

Take our newest multifamily development, Sedna in Beverly, slated for completion in early 2021 with one building currently available for lease and movein. Within our design process, we implemented a variety of technology platforms including Butterfly MX, a smart video intercom system that allows property management and residents to manage unit and property access. Renters at this property can allow the dog walker or a friend to enter the building, all through a smart de-

Photo courtesy of Brilliant

BY MIKE PROCOPIO

Procopio Companies’ Sedna apartment development on the Beverly waterfront incorporates a smart video intercom system, keyless building entry and ability to summon elevators by phone.

calling the elevator from your phone and keyless building entry have minimized contact via shared surfaces. Already, The Procopio Cos. has seen increased interest

The trend towards work from home will shift residents’ needs and may require multifamily developers to consider and implement technology amenities previously seen only in commercial office spaces. vice, with recurring temporary keys, onetime keys and, most importantly, a secure video audit trail.

Amidst the pandemic, Butterfly MX’s capabilities have improved tenant experiences, as accessibility features like

in the technology at our properties, and we anticipate accelerating its implementation throughout multifamily developments across the U.S. as renters and buyers seek ways to improve their personal safety through touchless tech.

And while many who think about technology consider the renter’s or buyer’s direct user experience, the reality is that within multifamily development, there are many technological updates that the consumer never sees.

Take for example, a multifamily property’s heating and hot water systems, which are required to heat all units and common areas. New heat pump technology allows developers to save energy, as heat pumps transfer heat without generating and losing it, while integrated hot water and heating systems reduce the squarefootage needed for utilities, while also saving costs as one integrated system.

This streamlined process is more environmentally friendly, as it requires less enContinued on Page B5

DECEMBER 28, 2020

BANKER & TRADESMAN | CRE INSIDER | B5

PREVENTIVE MEASURES

It’s Time to Eliminate Blind Spots in Senior Housing Design Opportunities Exist for Alternative Models in Elder Facilities

BY BRENT MAUGEL SPECIAL TO BANKER & TRADESMAN

M

y wife recently recommended that I watch the movie “The Impossible,” a film based on a true story of survival in Thailand during the devastating Dec. 25, 2004 tsunami.

Brent Maugel My first thought in the midst of a pandemic was: Why? But as is typically the case, she was right. The movie was a rich and inspiring story that brings with it hope and confidence that anything is possible. It leaves us asking ourselves why they did not forsee the tsunami and prepared for it.

It made me question what blind spots exist in the real estate industry: What do we know is coming, but are not preparing for adequately?

We have heard the looming statistics: The aging of the American population is increasing at an alarming rate. In 20 years, 1 in 5 Americans will be over 65 years of age and that number will more than double over the next 40 years. Of the over65 age group, 15 percent will be over 85 years of age, a number that is projected to nearly quadruple in the next 20 years.

An unprecedented need for senior housing is coming. The question is whether we can provide enough safe, affordable, comfortable and care-appropriate options before the wave hits the shore.

What Can Be done

As planners and designers, there are some steps we can do to prepare. First, we must acknowledge that what has come before and what is in place now is unsustainable. The pandemic has opened

our eyes to the health issues inherent in nursing homes and elderly congregate living facilities. This does not mean they should be abandoned, but it does mean they must be reimagined, redesigned and reborn as safe and desirable homes for the aged.

My mother is 96 years old and by the grace of God is living in her own home in the farmlands of Northwest Ohio. She is superbly cared for by my saintly sister and her husband who live next door.

This arrangement is a rarity because of the transient nature of younger generations. Realistically, generational housing – while often best for the person needing care – is not always best for the caregiver and should not be considered a broad-brush solution. There are, however, some innovative alternatives for elder

The pandemic has exposed shortcomings in the design of senior housing and nursing home facilities, and opportunities for innovative alternatives in elder housing.

action important to combating loneliness in seniors. The more intimate scale of eight to 12 seniors per home also provides an added level of protection from future health crises.

Going forward, we expect the senior care industry will undergo a government-sponsored overhaul of building standards, including institution of hospital-quality heating, ventilation and air-conditioning systems. care housing that can provide significant pieces of the senior housing puzzle.

Exploring Private Collaboratives

Private collaborative homes, though rare in America, are rather popular in Europe due to their affordability, intimate scale and the social connections they create between multiple generations. Affordability is found in right-sized rooms; shared kitchens, amenity spaces and expenses; and small management and health care staffs.

Often a few dwelling units are rented to younger families with children who provide the companionship and social inter-

We – the individuals, families, health care community, governments, planners federal, planners and designers – must create a new response to senior living that combines skilled nursing, independent living and assisted living in built environments that are indeed communities that feel like home, at whatever level of care is required.

Today, living in a nursing home is a frightful situation due to insufficient safety and health care protocols brought to light by the pandemic. Going forward, we expect the senior care industry will undergo a government-sponsored overhaul of building standards, including institution of hospital-quality heating, ventilation and air-conditioning systems.

Unlike Thailand in 2004, we know right now what is on the horizon for the housing and health care needs of our seniors.

Let us remember the story of “The Impossible” and have hope and confidence that anything is possible, including preparing for seniors to enjoy social interaction, home-like comfort and dignified care in the senior housing options of the future.

We’ll all be there soon enough, let’s make it a place we can be proud of.

Brent Maugel is president of Harvard-based Maugel Architects.

Multifamily Developers Take their Cue from Office Trends Continued from Page B4 ergy, and the smaller utility footprint also allows for extended square footage at the property for amenities and other spaces for resident use.

Adapt to the WFH Transition

Another way the pandemic has accelerated technology adoption at multifamily properties is with an increased shift in work from home opportunities. The ability for renters and buyers to access quality, gigabit WiFi, either within their units, or within the building’s common areas, will be crucial to the multifamily experience moving forward.

Similarly, residents working from home may require additional technology capabilities, whether it be conference rooms or presentation technology for meetings

held at a multifamily building instead of an office. The trend towards work from home will shift residents’ needs and may require multifamily developers to consider and implement technology amenities previously seen only in commercial office spaces.

While technology had already seen increased implementation prior to the pandemic, 2020 has seen a further desirability for technology’s implementation in multifamily developments. Moving forward into 2021, we anticipate a continued acceleration of this trend, as residents seek both an improved experience within their units and while working from home, and improved safety through touchless technologies.

NO ONE WILL WORK HARDER TO HELP YOU SUCCEED Today, the right financial partnership means everything. With a high level of expertise and competitive rates underwritten and serviced by us, the Commercial Banking Team at East Boston Savings Bank is working hard.

We will take the time to know the inner workings of your business and tailor a financing package to help make them a reality.

Mike Procopio is vice president of development at The Procopio Cos.

When you’re ready to move forward with an opportunity call 800.657.3272.

Unpaid Rent Could Provoke Crisis Continued from Page B4 allocated $50 million more for RAFT funding as part of the state budget.

Massachusetts cannot do it alone. Failure by Congress to get further relief to renters will have a cascading effect. Renters themselves will fall further behind on their payments and dig themselves deeper into debt. Housing providers will, in turn, struggle to pay their mortgage and expenses, including payroll for their employees and contractors. And when property owners have to sell off assets or,

worse, default on mortgages, it will be felt throughout the economy.

It’s time to act fast and prepare. In the remaining days of this session before the end of the year, lawmakers in Washington have acted with a sense of urgency. Speed and efficiency are critical. When a new Congress is sworn in, there will be no time to waste.

Robert E. DeWitt is vice chairman and CEO of GID, a Boston-based real estate developer, investor and operator. He also is the former chair of the National Multifamily Housing Council.

Member FDIC/Member DIF

ebsb.com/business

B6 | BANKER & TRADESMAN | CRE INSIDER

DECEMBER 28, 2020

R I G H T- S I Z E D R E S I D E N C E S

Compact Living Model Gains Traction

BY MARGARITA KVACHEVA AND ALEX MATOV SPECIAL TO BANKER & TRADESMAN

M

illennial housing, innovation units. Studio apartments. Compact living units. Whatever you call them, developments featuring tiny spaces are popping up again fueled by singles Margarita Kvacheva and couples looking for a place to rest their heads within city limits.

Compact units solve a problem Boston has wrestled with for decades: affordable housing that is attractive to young professionals Alex Matov and keeps Millennials from doubling up in triple-deckers best suited for working families. Housing the region’s growing population is a goal for mayors in the region’s most expensive and congested cities such as Somerville and Cambridge. Boston Mayor Marty Walsh has committed to building 69,000 new housing units by 2030 as part of the Housing a Changing City: Boston 2030 plan.

Small living spaces – studios and onebedroom apartments ranging from 280 to 450 square – made a splash on the Boston development scene in 2013 when the first units hit the market and were quickly snapped up. By 2014 there were more than 350 units planned for the Seaport District, just as it was approaching “hottest neighborhood” status.

The draw of the units is that develop-

ments are well located and provide affordable options in housing constrained neighborhoods like Allston-Brighton and the Seaport. The units are within walking distance to public transportation, restaurants and nightlife.

The trend toward building smaller is also driven by the shortage of studio apartments. According to the city of Boston, two-thirds of the city’s population is comprised of singles and couples, while one-third of housing units are studios and one-bedroom apartments.

Pilot Program Offers Developers Flexibility

In 2018, the city of Boston launched the compact living pilot program, giving developers the green light to build smaller units: 450 to 950 square feet in new projects of 10 units or more. The goals of the program include: • Increase housing affordability through more units overall, including more inclusionary development policy (IDP) Units and alleviating market pressure on family-style homes.

• Build community on both a building scale and a neighborhood scale by creating spaces that encourage people to connect outside their unit.

• Promote sustainable development creating less energy and less single-occupancy vehicle trips.

• Encourage creativity and innovation in how developers and designers meet the needs of residents.

Unlike micro-units, the development of compact living units has stringent requirements for parking, open space and community space and is monitored by the city of Boston.

Image courtesy of Prellwitz Chilinski Assoc.

Offers Creative and Efficient Use of Square-Footage

Allston Green is a $140-million, 250,000-square-foot complex featuring three buildings at 20 Linden St. in Allston scheduled for completion in 2024.

Developed by LBC Boston, Allston Green is a $140-million, 250,000-squarefoot complex featuring three buildings at 20 Linden St. in Allston on approximately two acres. The 350-unit project is slated to be completed in the spring of 2024 and is meant to provide a new product type that bridges the gap between luxury and affordable housing, creating a middle market solution.

cally places three buildings and two green spaces on the site. Variations in building planes and setbacks, a rich palette of exterior materials, and the playful use of color frame active, public ground floor uses that engage residents and neighbors alike. Proposed ground floor uses include a gallery, retail and artist coworking space, as well as the tower’s lobby and amenities.

In 2018, the city of Boston launched the compact living pilot program, giving developers the green light to build smaller units: 450 to 950 square feet in new projects of 10 units or more.

In addition to new housing, LBC Boston will create over 34,000 square feet of open space. Over 20,000 square feet of open space will be accessible to the public and will be used for community gatherings such as farmers’ markets, outdoor movie nights and exhibits. LBC Boston plans to invite local artists to paint murals and to create unique sitting cubes to be installed in the public parks.

Designed by Prellwitz Chilinksi Assoc. of Cambridge, Allston Green strategi-

Although compact living projects are new in multifamily development circles, renters are learning about the potential benefits: living in an efficiently designed, more affordable product in a community setting. Other benefits include lower utility bills and less maintenance. Better yet, paying the rent doesn’t require working the nightshift.

Alex Matov is a principal owner and Margarita Kvacheva is a senior vice president at LBC Boston.

N AT U R A L S U R R O U N D I N G S

Biophilic Design Creates Better Environments in Residential Buildings Nature-Inspired Rooms Promise Healthier, Calmer Living SPECIAL TO BANKER & TRADESMAN

C

reating more holistic environments for people living in cities, particularly in the era of COVID, has caused real estate developers, architects and designers to look at building Patrick Planeta design with a fresh lens to determine what are the essential criteria for a more hospitable environment.

In a sense, this newfound focus isn’t so new when set against a backdrop of 200,000 years of humans adJennie Kalberer aptation on Earth.

Over that time, 99 percent of our species’ development took place under conditions dominated by natural forces, unlike our modern urban environments.

Spaces designed to provide sanctuary through natural cues is a priority for Gerding Edlen, whose vision has sought to create innovative and holistic environments that emphasize health and wellness

through smart technology and creative design. Planeta Design Group, working in concert with Gerding Edlen, developed innovative and modern interior spaces for Bower, the newest residential project in Boston’s Fenway neighborhood.

Biophilic design is more than an aesthetic choice: It connects people to nature and is a gateway to rejuvenating our health and well-being.

The Bower design and development teams followed a mantra of “biophilia.”

This design approach, informed by evolutionary psychology, offers clues to understanding automatic responses triggered by our modern, man-made surroundings. Today’s built environments present new challenges for the human species to navigate, fatiguing our brains with stress-inducing sights and sounds. This makes biophilic design more than an aesthetic choice: It connects people to nature and is a gateway to rejuvenating our health and wellbeing.

Photo by Ed Wonsek

BY PATRICK PLANETA AND JENNIE KALBERER

A multistory greenhouse at Bower offers residents a quiet, contemplative space to relax and immerse themselves in a more natural environment.

The team looked to several tenet of biophilic design to achieve a strong connection to nature at Bower.

Daylight and Views: We made sure that there were plentiful amounts of daylight and views, allowing ample natural changing light and weather patterns that contribute to mental alertness. New window technology, called “View Smart Glass,” reduces glare but automatically adjusts to changing outside light conditions without the need for obstructive window coverings.

Space and Color: Large, light-filled indoor spaces provide relief during short winter days and inclement weather, not to mention the ability to comply with social distancing mandates. Additionally, our

choice of colors helps promote a sense of well-being and comfort. Bower’s first building is filled with deep forest tones and warm wood hues and textures that evoke nature, balanced by curvilinear furniture and concrete columns wrapped in tree trunk-like porcelain tiles. In the lobby of Bower’s second building, wallpaper covered with colorful interpretations of flowers and plants, and an egg-shaped reception desk that floats in the space, fills the space with a sense of discovery.

Living Plants: The presence of life within spaces, such as healthy living plants, reminds our primordial brain that we are in a welcoming and safe environment. At Bower, more so than most buildContinued on Page B7

DECEMBER 28, 2020

BANKER & TRADESMAN | CRE INSIDER | B7

S H A R E D S PA C E

‘Minimalist’ Housing Follows Hotel Industry Trends Continued from Page B1 “We absolutely continue to believe in coliving,” said Brian Lee, senior director of real estate at New York-based Common, one of the largest managers of coliving spaces in the county.

Lee’s company is working as a management partner with local developers Arx Urban and Boylston Properties on the Common Allbright project, which recently won city approvals for its 80-suites of coliving space at 525 Lincoln St. in Boston.

If all goes well, construction of Common Allbright could start next year, with the facility’s 280 bedrooms available for rent 18 months after the first shovel is turned.

“We’re huge believers that the demand will be there after the pandemic,” says Benjie Moll, a principal at Arx Urban.

“We’re very optimistic.”

Construction of the 7Ink project begin last winter at 217 Albany St. in South End, with an opening date tentatively set for early 2022, says Ted Tye, managing partner at Newton-based National Development, the project’s developer.

National Development has indeed modified 7Ink’s 180 units since the onset of the pandemic to address concerns of future tenants who may still be nervous about sharing living spaces with others. Among the recent design changes to 7Ink, according to Tye: more operable windows, improved air filtration, adding smaller meeting rooms, additional spacing in gathering areas and investing more heavily in our outdoor areas.

Otherwise, it’s all systems go for 7Ink, assuming the current rollout of new anticoronavirus vaccines are effective in ending the current pandemic, Tye said.

“Fingers crossed that when we open in 2022, COVID will be far in the rearview mirror,” Tye said. “Coliving has continued

Image courtesy of HDS Architecture

‘We’re Very Optimistic’

Boylston Properties and Arx Urban plan to break ground in 2021 on Common Allbright, Boston’s second coliving multifamily project, containing 280 bedrooms in 80 coliving suites at 525 Lincoln St. in Allston.

to perform well around the world during the pandemic, so I have full faith that it will thrive after.”

people can gather and meet. There are also indoor and outdoor common areas accessible to all residents of a building.

Coliving also usually entails “all-in-one pricing,” meaning monthly rents cover all major utility costs, such as heating, airconditioning and WiFi. At Common Allbright, Arx Urban’s Moll said the “all-in-one” price for a bedroom should average about $1,400 or $1,500 per month, a relatively good deal for area rentals. In addition, Common Allbright’s suites, as its units are being called, will be fully furnished.

Different Models, Common Theme

The definition of coliving varies from developer to developer, from operator to operator, and from city to city. But all share the common theme of “shared space” to reduce developers’ costs – and to reduce rents in turn. The target demographic is mostly young professionals working and living in expensive metro areas.

Coliving units contain multiple bedrooms that are leased out on an individual basis. Some coliving units have shared kitchens, but not all. Some provide furnishings, while others do not.

But all are likely to have shared living/ dining rooms – and each floor within buildings usually includes common areas where

Cost Called Key Factor

James Stockard, a housing studies lecturer at the Harvard Graduate School of Design, said lower rental costs are the key to coliving’s future. As long as operators

Email: jayfitzmedia@gmail.com

rePRINTS

Methuen Mill Falls Complex Sold A

Positive coverage helps drive business.

Put your coverage to work with a reprint from Banker & Tradesman.

Photo courtesy of CBRE

New York developer has acquired a 97unit Methuen apartment complex redeveloped under the state’s Chapter 40B affordable housing law for its first Bay State holding.

Standard Communities paid $13.8 million for the Mill Falls apartments, which received low-income and historic tax credits in a 2001 conversion of the former Methuen Cotton Mills, which was built in 1826. The 6-story elevatored property at 51 Osgood St. features 11- to 14-foot ceilings and more than 50 different floor plans.

The conversion received 4-percent taxexempt bonds from MassHousing, requiring 40 apartments to be rented to households earning 60 percent or less of the area median income. Additionally, a loan from the state Department of Housing and Community Development required 39

provide clean, convenient and affordable units that are properly managed, then the concept should work.

Stockard should know. He himself has lived in a cooperative apartment building in Cambridge for decades – and he said he’s more than happy with the sharedamenities arrangement.

He compared coliving to “minimalist” trends seen in other types of housing, such as the new citizenM hotel at Boston’s Hub on Causeway, which also provides small and simple rooms with shared public spaces.

National Development’s 7Ink project originally started out with coliving operator Ollie acting as an advisor. But Ollie was purchased earlier this month by San Francisco-based Starcity.

National Development’s Tye and Starcity co-founder and CEO Jon Dishotsky declined to say what the current arrangement is between ND and Starcity, though it’s believed former Ollie (now Starcity) employees are continuing to work in an advisory capacity on the 7Ink project.

Dishotsky said he’s excited about taking over Ollie – and the potential to expand his company’s operations in Boston and across the country. The combined Starcity will have 1,500 units in its management portfolio, post-merger.

All multifamily dwellings, and not just coliving units, took a hit as a result of the pandemic, Dishotsky said. But he said the industry is rebounding and the same housing problems will re-emerge again after the pandemic: the lack of affordable housing in major metropolitan areas.

“The primary reason for coliving is still there – high housing prices,” he said. “As a result, I remain very bullish on coliving.”

units to be income-restricted through 2057.

Standard Communities specializes in preservation of affordable and workforce housing and has a portfolio totaling more than 9,000 apartments in 16 states.

Rooms Promise Healthier, Calmer Living Continued from Page B6 ings, a variety of greenery is abundant throughout the public spaces.

Immersive Nature Experience: At Bower, skylights, art installations, and unique architectural features offer opportunities for residents to experience a sense of wonder, curiosity and appreciation for their surroundings. An indoor greenhouse extends two stories up to a skylight that bridges the gap between the building and the sky. The Planeta team was inspired by an impluvium – the central courtyard of an ancient Roman house – to create an intimate space filled with greenery, light and a sculptural water element where residents can relax and read.

Just outside the greenhouse, the ceiling is covered with polished stainless-steel paneling that reflects natural light and creates

a rippling effect reminiscent of flowing water, while reflecting and amplifying the hues from the greenhouse and view outside. Surrounded by floor-to-ceiling windows, the space offers 270-degree views of downtown Boston, the Charles River, Brookline and beyond.

As 2020 comes to a close and we look toward a new year, our work as developers, architects and designers is clear.

Building a better environment starts with people and we all benefit from a greener, healthier and natural experience in our homes that makes us more productive and happier.

Jennie Kalberer is director of design and brand at investment firm Gerding Edlen. Patrick Planeta is founder and principal at Boston-based architecture firm Planeta Design Group.

To order your latest reprint visit www.bankerandtradesman.com/reprints

Banker & Tradesman

www.bankerandtradesman.com

Abington

Billerica

Brockton

Use:Res Potentially Dvlpble Land (131) B: Roberto Delvecchio & Cynthia Morrical S: C E Development LLC Mtg: Salem Five Mtg Co $125,000 Date: 11/10/20 Total Assessed Value (2020): $202,400 Lot Size: 30473sf Prior Sale: $230,000 (05/19)

Use:Retail-Service (325) B: 587 Boston Road LLC S: Robert P Dipietro Tr, Tr for 587 Boston Road RT Mtg: Northern Bk & Tr $310,000 Date: 11/24/20 Total Assessed Value (2020): $374,800 Lot Size: 18805sf

Use:Office Condo Unit (343) B: Pelege Marcellin S: Patricia A Lennon Date: 11/20/20 Total Assessed Value (2020): $72,100 Prior Sale: $90,900 (12/03)

208 Dorsey St, Abington.............................. $680,700

21 S Bedford St, Abington............................ $700,000 Use:Religious Property (960) B: Church Of Christ In Miltn S: Joy In Christ Luth Church Date: 11/18/20 Total Assessed Value (2020): $991,100 Lot Size: 130680sf

587 Boston Rd, Billerica.............................. $409,000

47 Dunham Rd, Billerica.............................$11,760,000 Use:Industrial Warehouse (401) B: BSREP 3 45-47 Dunham LLC S: M Bruce Ohanian Tr, Tr for Dunham Road T Date: 11/19/20 Total Assessed Value (2020): $4,746,700 Lot Size: 279655sf

4 Enterprise Rd, Billerica...........................$16,240,000

Adams

30 Park St, Adams....................................... $150,000 Use:Mixed Use-Prim Res & Comm (013) B: FP Lend Fund 1 LLC S: Berkshire County Prop LLC Mtg: Fox Point Lending $150,000 Date: 11/13/20 Total Assessed Value (2020): $188,600 Lot Size: 15682sf Prior Sale: $200,000 (05/08)

Use:Industrial Warehouse (401) B: BSREP 3 4 Enterprise LLC S: M Bruce Ohanian Tr, Tr for Ohanian Heath RT Date: 11/19/20 Total Assessed Value (2020): $5,204,300 Lot Size: 284447sf

31 Fieldstone Ln, Billerica........................... $900,000

Agawam

235 Bowles Rd, Agawam............................. $2,525,253 Use:Industrial Warehouse (401) B: 235 Bowles Road LLC S: Crosby Queenin Prop LLC Mtg: Westfield Bank $1,063,636 Date: 11/13/20 Total Assessed Value (2020): $1,828,000 Lot Size: 243936sf

Use:Res Potentially Dvlpble Land (131) B: Christopher Theberge S: Bedford Woods Dev LLC Mtg: Fairway Ind Mtg $690,000 Date: 11/20/20 Total Assessed Value (2020): $133,200 Lot Size: 49776sf

Boston

500-528 Commonwealth Ave, Boston.........$84,904,000

299 Walnut St, Agawam............................... $275,000 Use:Commercial Building (347) B: 12 Doors LLC S: Gary Block & Ellen Block Mtg: Westfield Bank $220,000 Date: 11/20/20 Total Assessed Value (2020): $332,100 Lot Size: 21805sf

Use:Shopping Ctr/Mall (323) B: Kenmore Square Hotel LLC S: XHR Boston Comm LLC Mtg: Athene Annuity $57,500,000 Date: 11/20/20 Total Assessed Value (2020): $23,584,100 Lot Size: 36220sf Prior Sale: $44,000,000 (12/19)

137 South St U:3, Boston............................. $685,000 Use:Office Condo Unit (343) B: SIXG LLC S: Kelleher Family RE LLC Mtg: Century Bk Tr Co $342,500 Date: 11/20/20 Total Assessed Value (2020): $504,400 Lot Size: 1540sf

Andover

429 Lowell St, Andover................................ $820,000

Bourne

Auburn

Use:Apartment Bldg - 4-8 Units (111) B: Emily A Palazesi S: Sandra Ryan & Charles Prete Mtg: Cape Cod Five Cent Bk $441,750 Date: 11/09/20 Total Assessed Value (2020): $311,800 Lot Size: 17598sf Prior Sale: $175,000 (05/01)

Use:Retail-Service (325) B: Charnik Realty LLC S: Barrons Country Store Inc Mtg: Rockland Tr Co $632,000 Date: 11/24/20 Total Assessed Value (2020): $521,400 Lot Size: 41231sf

67 School St, Auburn................................... $335,000 Use:Office Bldg-General (340) B: Jonathan R Williams & Audrianna E Williams S: M D&M Boria Mariner LLC Mtg: River Works CU $318,250 Date: 11/19/20 Total Assessed Value (2020): $291,300 Lot Size: 16850sf Prior Sale: $285,000 (12/05)

19 Technology Dr, Auburn.......................... $5,500,000

175 Cranberry Hwy, Bourne........................ $465,000

871 Scenic Hwy, Bourne.............................. $305,000 Use:Motel (301) B: Batstone LLC S: AJ Michael Realty LLC & Cape Cod Coop Bank Foreclosure Deed Date: 11/13/20 Total Assessed Value (2020): $743,900 Lot Size: 58806sf

Boylston

Use:Industrial Warehouse (401) B: P8 Auburn Propco LLC S: Albany Rd Technology LLC Mtg: Cambridge Svgs Bk $22,900,000 Date: 11/12/20 Total Assessed Value (2020): $3,013,100 Lot Size: 261360sf Prior Sale: $3,296,934 (09/15)

77 Perry Rd, Boylston.................................. $199,900

Avon

80 Alden Sq, Bridgewater............................ $419,250

Use:Res Potentially Dvlpble Land (131) B: Sean Russo & Adriana Bianco S: Barnard Hill Estates LLC Date: 11/30/20 Total Assessed Value (2020): $94,700 Lot Size: 46098sf

Bridgewater

11 Ledin Dr, Avon......................................... $120,000 Use:Manufacturing Building (400) B: New England Truck Solutns S: David Roche Tr, Tr for M&R RT Date: 11/25/20 Total Assessed Value (2020): $640,500 Lot Size: 111078sf Prior Sale: $1,200,000 (01/20)

567 Main St, Bridgewater............................ $535,000

101 Memorial Dr, Avon................................ $320,595 Use:Retail-Department Store (322) B: K P Murphy Realty LLC S: Danbe Inc Mtg: Rockland Tr Co $256,476 Date: 11/12/20 Total Assessed Value (2020): $312,300 Lot Size: 17000sf

Ayer

7 Park St, Ayer..............................................

Use:Apartment Bldg - 4-8 Units (111) B: Steven Hayward S: Richard F Rose & Wayne M Chiappini Mtg: Salem Five Mtg Co $377,325 Date: 11/25/20 Total Assessed Value (2020): $371,500 Lot Size: 12300sf Prior Sale: $290,000 (12/05) Use:Gas/Service Station (334) B: Baudelaire Dorval & Kensia Jean S: Thomas Snell Tr, Tr for 567 Main Street RT Date: 11/13/20 Total Assessed Value (2020): $777,900 Lot Size: 40119sf Prior Sale: $425,000 (09/19)

$95,000

Use:Auto Repair (332) B: Xian L Wang & Guangqiong Liao S: Steven P Chapman & Matthew W Chapman Jr Date: 11/13/20 Total Assessed Value (2020): $117,100 Lot Size: 5227sf

Bellingham

231 Maple St, Bellingham........................... $1,150,000 Use:Industrial Warehouse (401) B: Scott Hovey Tr, Tr for 179 Mechanic Street RET S: TMC Hldg&Dev LLC Mtg: Middlesex Svgs Bk $880,000 Date: 11/12/20 Total Assessed Value (2020): $718,900 Lot Size: 116305sf Prior Sale: (03/20)

179 Mechanic St, Bellingham..................... $1,150,000 Use:Auto Repair (332) B: TMC Hldg&Dev LLC S: Scott Hovey Tr, Tr for 179 Mechanic Street RET Mtg: MountainOne Bk $1,150,000 Date: 11/12/20 Total Assessed Value (2020): $501,000 Lot Size: 41090sf Prior Sale: $412,000 (06/11)

Belmont

41-47 Thayer Rd, Belmont........................... $875,000 Use:Apartment Bldg - 4-8 Units (111) B: Thayer Property LLC S: Thayer Road Realty LLC Mtg: Thayer Rd Rlty LLC $875,000 Date: 11/10/20 Total Assessed Value (2020): $882,000 Lot Size: 6480sf

Beverly

6 Porter St, Beverly..................................... $595,000 Use:Apartment Bldg - 4-8 Units (111) B: Daniel F Finn Tr, Tr for Hilltop RT S: Pierce John A 3rd Est & Amelia C Pierce Mtg: Cape Ann Svgs Bk $450,000 Date: 11/10/20 Total Assessed Value (2020): $636,700 Lot Size: 5021sf

C

71 Legion Pkwy U:16, Brockton....................

$60,000

547 Main St, Brockton................................. $150,000 Use:Commercial Devlpble Land (390) B: Bragel 1 LLC S: Frantz Dumond Tr, Tr for Jacara RT Date: 11/13/20 Total Assessed Value (2020): $102,800 Lot Size: 6408sf Prior Sale: $108,000 (06/18)

Charlestown

24 Spice St, Charlestown............................ $7,700,000 Use:Industrial Office Building (402) B: Rise Development 2 LLC S: Spice Street Holdings LLC Mtg: Bank of New England $10,294,400 Date: 11/12/20 Total Assessed Value (2020): $1,893,700 Lot Size: 10869sf Prior Sale: $800,000 (01/17)

32 Spice St, Charlestown............................ $4,550,000 Use:Commercial Warehouse (316) B: Rise Development 2 LLC S: Ralph D Matarazzo Tr, Tr for Spice Street RT Mtg: Bank of New England $10,294,400 Date: 11/12/20 Total Assessed Value (2020): $612,400 Lot Size: 10057sf

Charlton

1039 N Main St, Brockton............................ $190,000

377 Worcester Rd, Charlton........................ $380,000

Brookline

Chatham

Use:Apartment Bldg - 4-8 Units (111) B: Ye Sun S: 3 Greenway Court LLC Date: 11/23/20 Total Assessed Value (2020): $3,614,900 Lot Size: 6765sf Prior Sale: $3,650,000 (09/13)

Use:County/Municipality Property (930) B: Peter G Martin & Robin J Martin S: Chatham Town Inn LLC Mtg: Leader Bank NA $2,000,000 Date: 11/13/20 Total Assessed Value (2021): $2,556,800 Lot Size: 13460sf Prior Sale: $2,687,500 (12/09)

Use:Retail-Service (325) B: Milcois Holdings LLC S: Josef H Floeck Tr, Tr for Floeck FT Mtg: Eastern Bank $171,000 Date: 11/09/20 Total Assessed Value (2020): $150,500 Lot Size: 2487sf

3 Greenway Ct, Brookline........................... $1,334,500

83 Longwood Ave, Brookline...................... $7,000,000 Use:Inn/Resort (302) B: 83 Longwood Ave LLC S: Bette R Allen Tr, Tr for Buehler RT Date: 11/24/20 Total Assessed Value (2020): $2,456,300 Lot Size: 18374sf

89-95 Longwood Ave, Brookline.................$13,000,000 Use:Apartment Bldg - 9 + Units (112) B: 89-95 Longwood Ave LLC S: Bette R Allen Tr, Tr for Buehler RT Mtg: Hingham Inst for Svgs $7,950,000 Date: 11/24/20 Total Assessed Value (2020): $8,937,700 Lot Size: 20957sf

Cambridge

Use:Retail-Service (325) B: Metro Homes RE LLC S: RP 3 Management LLC Mtg: RP 3 Management LLC $240,000 Date: 11/13/20 Total Assessed Value (2020): $456,000 Lot Size: 53601sf Prior Sale: $475,000 (07/06)

11 Library Ln, Chatham.............................. $2,600,000

Chelmsford

21-27 Gay St, Chelmsford............................ $765,000 Use:Apartment Bldg - 4-8 Units (111) B: Gary Sarkissian & Tatevik Sarkissian S: Edward R Panessiti Tr, Tr for Mary G Panessiti T Mtg: Guaranteed Rate Inc $265,000 Date: 11/12/20 Total Assessed Value (2020): $565,500 Lot Size: 8915sf

84 Turnpike Rd, Chelmsford........................ $500,000 Use:Manufacturing Building (400) B: B&C Byrne Brothers LLC S: 84tp LLC Date: 11/18/20 Total Assessed Value (2020): $619,600 Lot Size: 31250sf Prior Sale: $725,000 (07/07)

26 Brattle St, Cambridge............................$10,100,000

Cheshire

Canton

Use:Mixed Use-Prim Comm & Resd (031) B: Cheshire Pramukh Rlty LLC S: Shree Lalgi Krupa Corp Mtg: First Citizens Cr Un $1,151,250 Date: 11/12/20 Total Assessed Value (2020): $635,600 Lot Size: 82764sf Prior Sale: $610,000 (02/05)

Use:Retail-Service (325) B: Haventree LLC S: Edward P Ver Planck Jr Tr, Tr for 26 Brattle Street T Date: 11/25/20 Total Assessed Value (2020): $5,001,100 Lot Size: 2765sf

1017 Turnpike St U:23, Canton.....................

Use:Office Condo Unit (343) B: Lauretta Okoye & Jonas Okoye S: Josephine Vouriotis Date: 11/09/20 Total Assessed Value (2020): $103,300

$76,000

Carver

62 Great Meadow Dr, Carver....................... $450,296 Use:Other Exempt (990) B: David Meng & Rebecca Meng S: Great Meadow RT LLC Mtg: Draper and Kramer Mtg $442,139 Date: 11/10/20 Total Assessed Value (2020): $18,500 Lot Size: 25196sf Prior Sale: $100,000 (11/19)

Centerville

29 Park Ave, Centerville.............................. $170,625 Use:Office Bldg-General (340) B: Laura A Bete & Timothy P Buckley S: Terrance G Witter Date: 11/23/20 Total Assessed Value (2020): $115,500 Lot Size: 4356sf Prior Sale: $89,900 (11/02)

104-118 South St, Cheshire........................ $1,500,000

Chesterfield

6 South St, Chesterfield............................... $547,500 Use:Mixed Use-Prim Res & Comm (013) B: James L Thomson S: Simon J Salloom Tr, Tr for 6 South Street RT Date: 11/24/20 Total Assessed Value (2020): $466,700 Lot Size: 43560sf Prior Sale: $465,000 (11/16)

Chicopee

341 Hampden St, Chicopee......................... $250,000 Use:Apartment Bldg - 4-8 Units (111) B: Rinaldi Pease RE LLC S: Round 2 LLC Date: 11/13/20 Total Assessed Value (2020): $228,100 Lot Size: 6452sf Prior Sale: $175,000 (10/20)

1102 Sheridan St, Chicopee....................... $3,300,000 Use:Manufacturing Building (400) B: YUT Realty LLC S: 1102 Sheridan Street LLC Mtg: New Valley B & T $2,640,000 Date: 11/23/20 Total Assessed Value (2020): $2,959,900 Lot Size: 213880sf

About Our Commercial Sales Data

ommercial Sales Monthly Review provides a recap of commercial, industrial and other income-producing property sales that have appeared in the previous four weekly issues of Banker & Tradesman. This reference is an easy-to-use listing of these hardto-find sales, compiled by The Warren Group, B&T’s parent company.

Included in these listings are residential developable land, residential properties with more than three units and many mixed-use parcels. The residential developable land properties are included in the list because they are often sources of income for developers. Similarly, multi-unit residential units are deemed to be income-producers as opposed to purely places of residence for the owner.

Mixed-use parcels are included because they often have non-residential features.

Because property use designations are culled from assessors’ records and not from the deed to the property, this section includes only those communities where we have the assessor’s property file – the

communities The Warren Group calls COMPreport towns, which now includes all Massachusetts communities except for Great Barrington and Hancock.

What You Will Find The records are organized alphabetically by town and street name. In addition to the property address, buyer, seller, lender, mortgage amount, lot size and prior sale data that were detailed when these sales were originally published in the Official Records section of Banker & Tradesman, the records in this recap also include the filing date, building area (when available) and total assessed value. The fiscal year of the assessment is also noted.

How the Data Is Compiled

After a sale transaction is entered into the The Warren Group database, the address is compared to the addresses in the assessor’s property file. Whenever a match occurs, The Warren Group takes the details from the property record and

creates the enhanced sales records published here. If The Warren Group cannot be sure of matching the correct records, it does not match them at all. If it is unable to identify an unmatched sale’s property-use class, that sale will not be included in this recap.

As The Warren Group processes the assessor’s files, it checks that propertyuse codes are used consistently across all towns. To this end, The Warren Group sometimes translates a code that one town has created for its own purpose into a code that has the same meaning in the The Warren Group system. There are some instances where The Warren Group has created its own codes to supplement the Massachusetts Department of Revenue codes. This is generally done for multi-use parcels where assessors have assigned their own supplemental codes for greater specificity. In turn, when The Warren Group processes the assessor’s files, it applies its own code to standardize the use code applied to these properties.

©2020 The Warren Group Inc. All rights reserved. No part of this publication may be reproduced without the written consent of the publisher.

DECEMBER 28, 2020

B9

Clinton

10-14 Marion St, East Boston..................... $1,350,000

Use:Manufacturing Building (400) B: Clinton Cameron Mass LLC S: Weetabix Co LLC Date: 11/09/20 Total Assessed Value (2020): $4,765,800 Lot Size: 235224sf

Use:Apartment Bldg - 9 + Units (112) B: Imstar LLC S: Urban Renewal 10 LLC Mtg: RD CRB SPV LLC $900,000 Date: 11/10/20 Total Assessed Value (2020): $1,024,200 Lot Size: 2482sf Prior Sale: $800,000 (06/16)

Use:Retail-Service (325) B: Reinaldo Faria Tr, Tr for Faria RT S: Wheeler Norman J Est & Edmund Fitzgerald Date: 11/24/20 Total Assessed Value (2020): $338,800 Lot Size: 17297sf

Use:Other Exempt (990) B: Horace Wordsworth LLC S: Salesian Society Date: 11/18/20 Total Assessed Value (2020): $533,200 Lot Size: 45334sf Prior Sale: $60,000 (09/16)

20 Cameron St, Clinton............................... $2,150,000

625 Main St, Clinton..................................... $252,000

79 Sterling St, Clinton.................................. $375,000 Use:Apartment Bldg - 4-8 Units (111) B: Michael Fluster S: Ckm Quality Homes LLC Date: 11/20/20 Total Assessed Value (2020): $241,200 Lot Size: 10600sf Prior Sale: $108,000 (10/16)

East Bridgewater

Use:Religious Property (960) B: Anthony Donato & Rowena Donato S: Roy E Gardner Tr, Tr for Methodist Epis Church Mtg: Mortgage Research Ctr $376,280 Date: 11/17/20 Total Assessed Value (2020): $341,500 Lot Size: 14250sf

4978 Falmouth Rd, Cotuit............................ $800,000 Use:Day Care Center (352) B: 4978 Falmouth Road LLC S: Adelaide M Queeney Mtg: Klaman Capital LLC $700,000 Date: 11/25/20 Total Assessed Value (2020): $739,000 Lot Size: 50094sf

Powell Rd, Cummington................................

$20,000

33 Morse Ave, East Bridgewater................. $368,000

Cotuit

Cummington

Westbrook St (rear), East Boston.................

East Brookfield

291 E Main St, East Brookfield.................... $239,900

$30,000

Use:Res Potentially Dvlpble Land (131) B: Kenneth Goodrich S: Danny L Bilodeau & Heidi B Bilodeau Date: 11/20/20 Total Assessed Value (2020): $16,700 Lot Size: 692168sf

Dalton

40 Daly Ave, Dalton...................................... $300,000 Use:Apartment Bldg - 4-8 Units (111) B: Black Dog Family Prop LLC S: Richard E Carty & Katherine M Carty Mtg: Lee Bank $225,000 Date: 11/17/20 Total Assessed Value (2020): $264,200 Lot Size: 20554sf Prior Sale: $240,000 (08/06)

Use:Mixed Use-Prim Res & Comm (013) B: Shiloh Patchen & Catherine Patchen S: Dunlop Realty LLC Mtg: Webster First FCU $159,900 Date: 11/18/20 Total Assessed Value (2020): $204,600 Lot Size: 7986sf Prior Sale: $200,000 (10/09)

East Longmeadow

75-79 Pleasant St, East Longmeadow........ $2,765,692

Use:Apartment Bldg - 9 + Units (112) B: Brownstone Gardens Inc S: Brownstone Gardens 1 Inc Mtg: Brookline Bank $8,283,000 Date: 11/23/20 Total Assessed Value (2020): $5,479,100 Lot Size: 1041432sf

Easthampton

238 Andover St, Danvers............................ $8,366,547 Use:Hotel (300) B: TWC Danvers LLC S: Hugh J Collins FT Mtg: Guggenheim Credit Svc 196,747,525 Date: 11/24/20 Total Assessed Value (2020): $7,046,700 Lot Size: 179206sf Use:Apartment Bldg - 4-8 Units (111) B: Maria Correia Tr, Tr for Eleven Lindall Danvers T S: White Robert B Est & Patricia A White Mtg: North Shore Bank $450,000 Date: 11/13/20 Total Assessed Value (2020): $592,600 Lot Size: 10062sf Prior Sale: $437,000 (12/06)

Use:Apartment Bldg - 4-8 Units (111) B: Jonathan Galenski & Justin Galenski S: Irene M Baronas Date: 11/13/20 Total Assessed Value (2020): $328,900 Lot Size: 23087sf

632 Main St U:A, Dennis............................... $385,000

Use:Condominium/Motel (348) B: Marthas Vineyard Colonial S: Michael Caruso & Rebecca A Caruso Date: 11/20/20 Total Assessed Value (2020): $384,400 Prior Sale: $260,000 (09/06)

Use:Non-residential Condo (349) B: Karen L Ursini S: Megan K Pettit Mtg: Cape Cod Five Cent Bk $308,000 Date: 11/10/20 Total Assessed Value (2020): $278,100 Prior Sale: $365,000 (02/06)

68 Winter St U:4, Edgartown........................ $620,000

Dorchester

Bridge St, Fairhaven.................................... $200,000

Use:Condominium/Motel (348) B: Mairead Macclarence S: Julia Spiro Date: 11/16/20 Total Assessed Value (2020): $332,800 Lot Size: 1360sf

Fairhaven

890-900 Morton St, Dorchester................... $860,000 Use:Shopping Ctr/Mall (323) B: 890-900 Morton Street LLC S: Carol Goodman Tr, Tr for 890 Morton Street NT Mtg: Liberty Bay CU $430,000 Date: 11/13/20 Total Assessed Value (2020): $773,100 Lot Size: 5735sf

Douglas

153 Davis St, Douglas...................................

Fall River

397 Bay St, Fall River.................................. $775,000

$70,100

Use:Industrial Devlpble Land (440) B: Woodlandbrook LLC S: Douglas Land Corp Date: 11/16/20 Total Assessed Value (2020): $124,000 Lot Size: 273557sf Prior Sale: $140,000 (02/05)

92 Hayfield Rd, Dracut................................. $618,000 Use:Res Potentially Dvlpble Land (131) B: Linda Mccarthy & John Gagnon S: Wheeler Villlage LLC Date: 11/17/20 Total Assessed Value (2020): $47,900 Lot Size: 20091sf

12-16 W Main St, Dudley.............................. $325,000 Use:Mixed Use-Prim Res & Comm (013) B: John E Guerin Tr, Tr for NWF RT S: SRO Realty LLC Mtg: Hometown Bank $210,000 Date: 11/23/20 Total Assessed Value (2020): $409,200 Lot Size: 11759sf

8 Dogwood Dr, Duxbury............................... $499,000 Use:Res Potentially Dvlpble Land (131) B: Christopher R Zani & Amanda T Zani S: USC LLC Mtg: Bluestone Bank $550,000 Date: 11/25/20 Total Assessed Value (2020): $34,100 Lot Size: 60548sf

1 Modoc St, Duxbury.................................... $850,000 Use:Res Potentially Dvlpble Land (131) B: Joseph J Maher & Ashley L Maher S: Freeman Boynton 3rd Date: 11/30/20 Total Assessed Value (2020): $58,100 Lot Size: 174676sf

$90,000

Grafton

27-31 Thompson St, Fall River.................... $412,500 Use:Apartment Bldg - 4-8 Units (111) B: Joshua Botelho S: Borderland Realty LLC Date: 11/10/20 Total Assessed Value (2020): $231,000 Lot Size: 4580sf Prior Sale: $105,000 (06/12)

Falmouth

996 E Falmouth Hwy, Falmouth................... $762,500

77 Boutelle St, Fitchburg............................. $135,000

52 Hartwell St, Fitchburg............................. $390,000 Use:Mixed Use-Prim Res & Comm (013) B: Denise Lamkin S: Michael W Tully & Denise M Tully Date: 11/10/20 Total Assessed Value (2020): $191,600 Lot Size: 10437sf Prior Sale: $243,750 (05/06)

481 Pearl St, Fitchburg............................... $120,000

Granville

383 Granby Rd, Granville............................. $438,000 Use:Mixed Use-Prim Comm & Resd (031) B: Rockwood Pallet Co LLC S: Wackerbarth Box Mfg Co Mtg: Wackerbarth Box Mfg C $273,000 Date: 11/20/20 Total Assessed Value (2020): $582,700 Lot Size: 2922876sf

Great Barrington

Long Pond Rd, Great Barrington..................

$25,000

Monument Valley Rd, Great Barrington........

$10,000

Use:Res Potentially Dvlpble Land (131) B: John V Daniello Jr & Stacie Daniello S: Joseph P Flemming & Camilla Flemming Date: 11/19/20 Total Assessed Value (2019): $47,400 Lot Size: 22651sf Use:Productive Woodland (717) B: Peter L Rybacki & Geri L Rybacki S: Ira J Kaplan & Sarah C Robotham Date: 11/25/20 Total Assessed Value (2019): $800 Lot Size: 449104sf

Greenfield

43 Silver St, Greenfield................................ $670,000 Use:Religious Property (960) B: Agape Moldovian Bapt Chrc S: First Cong Chrch Grnfield Mtg: Greenfield Cp Bk $250,000 Date: 11/09/20 Total Assessed Value (2020): $1,427,400 Lot Size: 105768sf

Hadley

60 Scott Rd, Fitchburg..................................

Summer St, Fitchburg....................................

$70,000

$7,000

Use:Commercial Potntl Dvlp Land (391) B: Margaret Brownell S: Peter Capodagli & Ann M Capodagli Date: 11/09/20 Total Assessed Value (2020): $92,600 Lot Size: 10656sf

121 Valley St, Fitchburg.............................. $323,239 Use:Res Potentially Dvlpble Land (131) B: Mark R Duci & Talia M Duci S: Harbor Classic Homes LLC Mtg: Mortgage Networks Inc $307,077 Date: 11/20/20 Total Assessed Value (2020): $30,400 Lot Size: 20551sf Prior Sale: $85,000 (10/20)

122 Valley St, Fitchburg.............................. $307,900 Use:Res Potentially Dvlpble Land (131) B: Pedro Martinez & Tamayra Martinez S: Harbor Classic Homes LLC Mtg: Total Mtg Svcs $292,505 Date: 11/17/20 Total Assessed Value (2020): $29,100 Lot Size: 15921sf Prior Sale: $85,000 (10/20)

Foxboro

Use:Mixed Use-Prim Res & Comm (013) B: Thomas Brennan S: John A Crescitelli Tr, Tr for Crescitelli Liberty St T Date: 11/23/20 Total Assessed Value (2020): $267,100 Lot Size: 3800sf

14 Perry Dr U:D, Foxboro............................. $485,000

Framingham

240 Beaver St, Framingham........................ $160,000 Use:County/Municipality Property (930) B: 240 Beaver Realty LLC S: Framingham City Of Date: 11/20/20 Total Assessed Value (2020): $134,900 Lot Size: 35118sf

Use:Apartment Bldg - 4-8 Units (111) B: 322 Harrison Realty LLC S: Jose C Pires & Maria F Pires Mtg: Eastern Bank $261,000 Date: 11/23/20 Total Assessed Value (2020): $257,900 Lot Size: 4266sf Prior Sale: $107,000 (05/12)

308 Hollis St, Framingham.......................... $853,000

Use:Mixed Use-Prim Res & Comm (013) B: Home Innova LLC S: Manuel D Garcia Jr Tr, Tr for 590 Plymouth Avenue RT Mtg: Leader Bank NA $287,000 Date: 11/10/20 Total Assessed Value (2020): $352,300 Lot Size: 3564sf Prior Sale: $450,000 (05/07)

Use:Mixed Use-Prim Res & Comm (013) B: Dennis B Ford Tr, Tr for 100-102 Irving Street RT S: Jerome Keefe Tr, Tr for 37 Summer Street RT Mtg: MutualOne Bk $697,500 Date: 11/30/20 Total Assessed Value (2020): $780,500 Lot Size: 11395sf Prior Sale: $350,000 (02/03)

590 Plymouth Ave, Fall River....................... $450,000

Use:Religious Property (960) B: Evan R Koogler & Tia A Trapasso S: Steven J Higgins Mtg: LoanDepot.Com $270,000 Date: 11/24/20 Total Assessed Value (2020): $221,800 Prior Sale: $220,000 (09/20)

Use:County/Municipality Property (930) B: Laurence Gagnon & Andrea Gagnon S: Fitchburg City Of Date: 11/24/20 Total Assessed Value (2020): $94,300 Lot Size: 2880sf Prior Sale: $84,500 (03/07)

Use:Industrial Condominum (450) B: Tima Fl LLC S: Mark D Tyrol Tr, Tr for Sierra Aryssa RT Mtg: Eastern Bank $388,000 Date: 11/13/20 Total Assessed Value (2020): $331,200

322 Harrison St, Fall River.......................... $435,000

42 Samuel Dr U:42, Grafton......................... $300,000

56 Wisdom Way, Greenfield......................... $120,000

Use:Auto Repair (332) B: Khoury Development LLC S: Deschenes Body Repair Inc Mtg: Deschenes Body Repair $200,000 Date: 11/16/20 Total Assessed Value (2020): $225,600 Lot Size: 5128sf Use:Apartment Bldg - 4-8 Units (111) B: Harrison St Realty LLC S: Lordwins Mathieu Mtg: Eastern Bank $348,750 Date: 11/17/20 Total Assessed Value (2020): $309,600 Lot Size: 4265sf Prior Sale: $320,000 (07/18)

Use:Industrial Condominum (450) B: 427 Main Street LLC S: SCS Lobster Co LLC Mtg: BankGloucester $1,280,000 Date: 11/23/20 Total Assessed Value (2020): $935,400 Lot Size: 436sf

Use:County/Municipality Property (930) B: Pablo Basaistegui S: Fitchburg City Of Date: 11/24/20 Total Assessed Value (2020): $121,600 Lot Size: 13415sf

9 Liberty St, Foxboro................................... $394,500

306 Harrison St, Fall River.......................... $465,000

Use:Retail-Service (325) B: 131 Main St LLC S: Albert C Larsen & Joan M Larsen Date: 11/20/20 Total Assessed Value (2020): $295,300 Lot Size: 871sf

Use:Apartment Bldg - 4-8 Units (111) B: Around The Clock Svcs Inc S: Thomas Gamache Tr, Tr for 4 Corners RT Date: 11/16/20 Total Assessed Value (2020): $328,000 Lot Size: 6994sf Prior Sale: $455,000 (07/20)

79 Thomas St, Fall River.............................. $225,000

Use:Apartment Bldg - 4-8 Units (111) B: Matthew J Salgado S: James K Cordeiro Jr Mtg: Fairway Ind Mtg $323,040 Date: 11/12/20 Total Assessed Value (2020): $178,600 Lot Size: 3087sf Prior Sale: $102,500 (09/13)

751 Eastern Ave, Fall River......................... $385,872

Duxbury

Use:Retail-Service (325) B: Abul K Farazi S: Arjuman A Kamal Mtg: Eastern Bank $292,500 Date: 11/25/20 Total Assessed Value (2020): $188,700 Lot Size: 1051sf Prior Sale: $350,000 (06/05)

Use:Mixed Use-Prim Res & Comm (013) B: Derek E Demuzio S: Jing X Wei Mtg: Rockland Tr Co $318,750 Date: 11/20/20 Total Assessed Value (2020): $308,800 Lot Size: 2438sf Prior Sale: $265,000 (06/16)

481 Durfee St, Fall River............................. $329,000

Dudley

67 Bennington St, East Boston.....................

Use:Religious Property (960) B: Solomons Porch Inc S: Master Bldr Ministries Mtg: BayCoast Bank $697,500 Date: 11/13/20 Total Assessed Value (2020): $1,408,900 Lot Size: 45106sf

515-517 Broadway, Fall River..................... $430,000

Dracut

East Boston

Use:Commercial Devlpble Land (390) B: 240B LLC S: Southcoast RT LLC Date: 11/19/20 Total Assessed Value (2020): $395,700 Lot Size: 143744sf

131 Main St, Gloucester.............................. $335,000

427 Main St U:427, Gloucester................... $1,600,000

Use:County/Municipality Property (930) B: Seamen St LLC & Arnold Dumay S: Fitchburg City Of Mtg: QS Lending T $196,000 Date: 11/25/20 Total Assessed Value (2020): $177,800 Lot Size: 3512sf Prior Sale: $91,000 (07/00)

Use:Bank Building (341) B: Charles C Hajjar Tr, Tr for BD MV RT S: Corner Block Holdings LLC Mtg: Martha Vineyard SB $4,290,000 Date: 11/25/20 Total Assessed Value (2020): $3,015,862 Lot Size: 5322sf

Use:Supermarket (324) B: RK Framingham 2 LLC S: Equity 1 JV Sub Ct Path Date: 11/24/20 Total Assessed Value (2020): $13,545,500 Lot Size: 409765sf Prior Sale: $23,200,000 (12/11)

Use:Office Bldg-General (340) B: 222 Rock St LLC S: Kennard C Kobrin & Nora Kobrin Mtg: Signature Lending LLC $360,815 Date: 11/20/20 Total Assessed Value (2020): $279,300 Lot Size: 6813sf

Use:Office Bldg-General (340) B: Nicholas Yebba Tr, Tr for Abbey Village Place RT S: Village Place LLC Date: 11/16/20 Total Assessed Value (2020): $1,585,900 Lot Size: 71874sf Prior Sale: $1,500,000 (12/07)

38 N Water St U:R6, Edgartown................... $250,000

Dennis

222 Rock St, Fall River................................ $185,000

Fitchburg

19 Main St, Edgartown................................ $5,720,000

97 N Main St, Deerfield................................ $219,900

Gloucester

Use:Apartment Bldg - 4-8 Units (111) B: Christopher P Ouellette S: M David Nessralla Tr, Tr for 71 Robeson Street RT Mtg: Navigant Credit Union $367,500 Date: 11/18/20 Total Assessed Value (2020): $318,300 Lot Size: 5643sf Prior Sale: $366,500 (06/07)

Easton

Edgartown

Deerfield

71 Robeson St, Fall River............................ $525,000

Use:Commercial Warehouse (316) B: Tyler Senno Tr, Tr for Mustang RT S: David L Allenby & Laurie J Moseley Mtg: Rockland Tr Co $500,000 Date: 11/23/20 Total Assessed Value (2020): $593,800 Lot Size: 154564sf

448 Turnpike St, Easton.............................. $1,735,000

11 Lindall St, Danvers.................................. $660,000

235 Old Connecticut Path, Framingham....$23,500,000

Use:Apartment Bldg - 4-8 Units (111) B: Janet M Williams-James & Maxo Lapointe S: North Easton Realty LLC Mtg: Residential Mtg Svcs $381,954 Date: 11/20/20 Total Assessed Value (2020): $210,500 Lot Size: 2704sf Prior Sale: $90,000 (08/10)

Use:County/Municipality Property (930) B: Arrowwood Design&Const S: Easthampton City Of Date: 11/25/20 Total Assessed Value (2020): $168,700 Lot Size: 29766sf

154 Everett St, Easthampton....................... $105,000

Danvers

908 Plymouth Ave, Fall River....................... $389,000

Use:Apartment Bldg - 4-8 Units (111) B: ABC Prime LLC S: Paul F Flaherty Tr, Tr for 2 For 1 RT Mtg: Enterprise Bk & Tr Co $597,100 Date: 11/24/20 Total Assessed Value (2020): $478,100 Lot Size: 10102sf

100 Irving St, Framingham.......................... $930,000

Use:Cemetery (953) B: Franklin Cnty&N Quabbin S: Green River Cemetery Co Mtg: Greenfield Svgs $90,000 Date: 11/24/20 Total Assessed Value (2020): $291,000 Lot Size: 22281sf

305 Russell St, Hadley................................. $325,000 Use:Auto Supply (331) B: Frontage Inc S: RC Building Inc Date: 11/20/20 Total Assessed Value (2020): $279,400 Lot Size: 10890sf Prior Sale: $325,000 (09/12)

Halifax

285 Holmes St, Halifax................................. $485,000 Use:Retail-Service (325) B: Liddell Development LLC S: Stukuls Henry I Est & Jeffrey A Stukuls Date: 11/18/20 Total Assessed Value (2021): $392,900 Lot Size: 85900sf

Hanover

456 Columbia Rd, Hanover.......................... $890,000 Use:Retail-Department Store (322) B: Wei Q Chen Tr, Tr for GVC RT S: John C Hietala Tr, Tr for SWK NT Mtg: Hingham Inst for Svgs $500,000 Date: 11/16/20 Total Assessed Value (2020): $586,000 Lot Size: 51836sf

456 Columbia Rd, Hanover.......................... $890,000 Use:Retail-Department Store (322) B: Wei Q Chen Tr, Tr for GVC RT S: John C Hietala Tr, Tr for SWK NT Date: 11/16/20 Total Assessed Value (2020): $586,000 Lot Size: 51836sf

51 Mill St U:8, Hanover................................ $340,102 Use:Office Condo Unit (343) B: Castlebar Rlty Mgmt LLC S: Joseph Beals Tr, Tr for Strauss RT Mtg: Eastern Bank $241,500 Date: 11/20/20 Total Assessed Value (2020): $247,600 Prior Sale: $200,000 (03/00)

Hanson

203 Liberty St, Hanson................................. $250,000 Use:Commercial Warehouse (316) B: Bruce A Richards & Suzanne L Richards S: J Mark Devlin Date: 11/10/20 Total Assessed Value (2020): $228,700 Lot Size: 13400sf

Harwich

527 Main St U:15, Harwich........................... $225,000 Use:Non-residential Condo (349) B: Sam Speakman LLC S: Schoolhouse LP Mtg: Cape Cod Five Cent Bk $178,000 Date: 11/13/20 Total Assessed Value (2020): $223,000

Haverhill

109-111 Chadwick St, Haverhill.................. $680,000 Use:Apartment Bldg - 4-8 Units (111) B: Lauren L Soelch Tr, Tr for Soelch RET S: Daniel T Roche Mtg: Lowell Five Cent Svgs $544,000 Date: 11/25/20 Total Assessed Value (2020): $483,100 Lot Size: 7200sf Prior Sale: $215,500 (02/01)

©2020 The Warren Group Inc. All rights reserved. No part of this publication may be reproduced without the written consent of the publisher.

B10

DECEMBER 28, 2020

37-39 Freeman St, Haverhill....................... $665,000 Use:Apartment Bldg - 4-8 Units (111) B: Peter W Cowden Tr, Tr for Jade RT S: 37-43 Freeman Street LLC Mtg: Marblehead Svgs Bk $498,750 Date: 11/17/20 Total Assessed Value (2020): $421,600 Lot Size: 5297sf Prior Sale: $400,000 (10/15)

Lowell

Lynnfield

Use:Apartment Bldg - 4-8 Units (111) B: Elite Connection LLC S: Kevin Voegeli & Alicia Voegeli Mtg: LendingHome Funding C $490,000 Date: 11/24/20 Total Assessed Value (2020): $339,800 Lot Size: 17424sf Prior Sale: $530,000 (01/05)

Use:Apartment Bldg - 4-8 Units (111) B: Gold St 2018 Merrck Rlty S: Martir Estates LLC Mtg: Washington Svgs Bk $840,000 Date: 11/23/20 Total Assessed Value (2020): $612,900 Lot Size: 9330sf Prior Sale: $838,000 (09/18)

Use:Res Potentially Dvlpble Land (131) B: Jill A Larsen Tr, Tr for Jill Ann Larsen RET S: Hannah S View Estates LLC Date: 11/24/20 Total Assessed Value (2020): $309,900 Lot Size: 66578sf

53 Camp St, Hyannis.................................... $585,000

41-43 Freeman St, Haverhill....................... $604,000 Use:Apartment Bldg - 4-8 Units (111) B: Jim H Bass Jr S: 37-43 Freeman Street LLC Mtg: Equity Prime Mtg $593,060 Date: 11/09/20 Total Assessed Value (2020): $434,900 Lot Size: 5850sf Prior Sale: $320,000 (10/15)

Ipswich

125 Topsfield Rd, Ipswich............................ $224,250

486 Hilldale Ave, Haverhill........................... $560,000 Use:Apartment Bldg - 4-8 Units (111) B: Anilda Palushi & Artur Palushi S: Peter Doucet Date: 11/30/20 Total Assessed Value (2020): $409,800 Lot Size: 22198sf

103 Summer St, Haverhill............................ $960,000 Use:Apartment Bldg - 4-8 Units (111) B: 103 Summer LLC S: 103 Summer Street LLC Mtg: E Cambridge Svgs Bk $795,000 Date: 11/17/20 Total Assessed Value (2020): $640,600 Lot Size: 11478sf Prior Sale: $535,000 (03/06)

149-153 Washington St U:1, Haverhill......... $450,000 Use:Retail Condo (345) B: Washington 149 LLC S: Sven A Amirian Tr, Tr for Sven Amirian FT Mtg: Lowell Five Cent Svgs $572,000 Date: 11/10/20 Total Assessed Value (2020): $91,300

Use:Res Potentially Dvlpble Land (131) B: Maegan A Bergeron & Paul K Bishop S: Diana Cormier Date: 11/20/20 Total Assessed Value (2020): $295,700 Lot Size: 693911sf

Kingston

11 Kingston St, Kingston...............................

$65,000

Use:Fraternal Organization (353) B: CRF Land Holdings LLC S: Luso-American Fincl Date: 11/13/20 Total Assessed Value (2020): $312,200 Lot Size: 82328sf

Use:Apartment Bldg - 4-8 Units (111) B: Joseluis Luna S: Yeaton Pl Highlnd Ave LLC Mtg: New Fed Mtg Corp $613,679 Date: 11/18/20 Total Assessed Value (2020): $417,600 Lot Size: 7357sf Prior Sale: $239,900 (03/07)

Lancaster

Use:Res Potentially Dvlpble Land (131) B: Mary H Melanson & Gary Melanson S: James M Burgoyne Tr, Tr for Maple Ridge RT Mtg: Avidia Bank $150,000 Date: 11/20/20 Total Assessed Value (2020): $144,600 Lot Size: 74052sf

Lanesboro

291 N Main St, Lanesboro.............................

22 Webster St, Haverhill............................. $2,500,000 Use:Apartment Bldg - 9 + Units (112) B: 22-28 Webster Street LLC S: Haverhill-Webster St LLC Mtg: E Cambridge Svgs Bk $2,070,000 Date: 11/18/20 Total Assessed Value (2020): $1,145,100 Lot Size: 16862sf Prior Sale: $1,410,000 (06/07) Use:Apartment Bldg - 4-8 Units (111) B: Invest Property LLC S: Haverhill Multi Family Date: 11/24/20 Total Assessed Value (2020): $358,700 Lot Size: 6120sf Prior Sale: $717,500 (12/16)

Hingham

210 Whiting St U:6, Hingham....................... $350,000 Use:Office Condo Unit (343) B: Old Whiting LLC S: First Down LLC Mtg: South Shore Bank $262,500 Date: 11/23/20 Total Assessed Value (2020): $222,100 Prior Sale: $300,000 (07/14)

$92,500

Bullards Crossing Rd, Hinsdale................... $400,000 Use:Sand Quarry (410) B: 246 Peru Road LLC S: Noco Enterprises LLC Date: 11/19/20 Total Assessed Value (2021): $385,500 Lot Size: 3049200sf Prior Sale: $350,000 (04/17)

53 Mashapaug Rd, Holland.......................... $531,500 Use:Mixed Use-Prim Res & Comm (013) B: Howard Kogan & Annette Goldberg S: Steven M Digeronimo & Jeffrey W Digeronimo Date: 11/20/20 Total Assessed Value (2020): $454,400 Lot Size: 36155sf Prior Sale: $125,000 (09/11)

10 Summit Pointe Dr, Holliston.................. $1,052,400 Use:Res Potentially Dvlpble Land (131) B: Bridgett R Maillet & Michael J Maillet S: Nature Walk Dev LLC Mtg: Draper and Kramer Mtg $200,000 Date: 11/13/20 Total Assessed Value (2020): $254,800 Lot Size: 40032sf

Use:Manufacturing Building (400) B: Edaron Reh LLC S: Edaron Inc Date: 11/17/20 Total Assessed Value (2020): $1,095,000 Lot Size: 123275sf

$90,000

Use:Retail-Service (325) B: Margaro Crespo S: Rafael Alvarado & Jacqueline A Enriquez Date: 11/20/20 Total Assessed Value (2020): $123,600 Lot Size: 5655sf Prior Sale: $2,500 (12/13)

Use:Office Condo Unit (343) B: Tsakis Properties LLC S: Alan J Bell Tr, Tr for Bell FT Date: 11/23/20 Total Assessed Value (2020): $246,900 Prior Sale: $205,000 (10/04)

82 South St, Hopkinton............................... $8,750,000 Use:Industrial Warehouse (401) B: P8 Hopkinton Propco LLC S: Albany Road South LLC Mtg: Cambridge Svgs Bk $22,900,000 Date: 11/12/20 Total Assessed Value (2020): $5,277,600 Lot Size: 912046sf Prior Sale: $5,025,000 (09/15)

Hull

Use:Mixed Use-Prim Res & Comm (013) B: Esse Saif S: Front Porch Prop LLC Date: 11/19/20 Total Assessed Value (2020): $341,000 Lot Size: 5000sf Prior Sale: $357,000 (12/17)

12 E Pine St, Lowell..................................... $630,000

250 Howard St, Lunenburg...........................

$50,000

291 Lowell St, Lawrence.............................. $649,000

Lynn

55-57 Springfield St, Lawrence................... $462,000 Use:Mixed Use-Prim Comm & Resd (031) B: Ceneida Valentin & Randy Delacruz S: Antonio R Fiore & Michel A Pelletier Mtg: New Fed Mtg Corp $585,633 Date: 11/23/20 Total Assessed Value (2020): $307,500 Lot Size: 2850sf Prior Sale: $50,000 (02/12)

2-4 Dale Ct, Leicester...................................

$56,000

Use:Res Potentially Dvlpble Land (131) B: Joseph Garchali & Fatima Essif S: Ekay Builders LLC Date: 11/13/20 Total Assessed Value (2020): $47,100 Lot Size: 6800sf Prior Sale: (10/20)

Use:Mixed Use-Prim Res & Comm (013) B: PJA Mangement Corp S: Topnotch Realty Corp Mtg: Topnotch Realty Corp $300,000 Date: 11/12/20 Total Assessed Value (2020): $480,700 Lot Size: 24728sf

Use:Mixed Use-Prim Comm & Resd (031) B: Suzanne M Andeway S: Timothy D Siok & Mariana Vivas-Siok Date: 11/23/20 Total Assessed Value (2020): $517,200 Lot Size: 44605sf Prior Sale: $275,000 (02/20)

Leominster

169 4th St, Leominster................................ $620,000

Use:Office Bldg-General (340) B: TJAC Properties LLC S: MAS Realty Corp Mtg: Eastern Bank $875,000 Date: 11/17/20 Total Assessed Value (2020): $1,015,800 Lot Size: 20537sf Use:Apartment Bldg - 4-8 Units (111) B: Sara A Eastman-Ryerson S: Leo J Fortier & Jeannine C Fortier Mtg: Total Mtg Svcs $389,809 Date: 11/19/20 Total Assessed Value (2020): $238,100 Lot Size: 5900sf

$85,000

Use:Res Potentially Dvlpble Land (131) B: BBC Development LLC S: Deamicis Louis M Est & Mary A Deamicis Date: 11/19/20 Total Assessed Value (2020): $32,700 Lot Size: 8314sf

Lincoln

31 Old Concord Rd, Lincoln......................... $675,000 Use:Res Potentially Dvlpble Land (131) B: James Dwyer S: Helen Dooley Date: 11/16/20 Total Assessed Value (2020): $568,900 Lot Size: 144905sf

12 Anchor Rd, Lynn...................................... $885,000 Use:Religious Property (960) B: Lynn Masonic Temple Assn S: Iglesia Cristiana Renacer Date: 11/20/20 Total Assessed Value (2020): $455,900 Lot Size: 31320sf Prior Sale: $350,950 (03/09)

5 Baldwin St, Lynn........................................ $610,000 Use:Apartment Bldg - 4-8 Units (111) B: James M Barnes S: Ashvin Z Patel Tr, Tr for Babu&Kokila Patel RET Mtg: Homebridge Financial $598,951 Date: 11/17/20 Total Assessed Value (2020): $732,200 Lot Size: 2967sf Prior Sale: $475,000 (05/05)

53 Baldwin St, Lynn...................................... $500,000 Use:Commercial Warehouse (316) B: PE Realty Partners LLC S: Lafamiglia Realty LLC Date: 11/17/20 Total Assessed Value (2020): $246,100 Lot Size: 4523sf

53 Commercial St, Lynn............................... $850,000 Use:Apartment Bldg - 4-8 Units (111) B: Ruben M Ramirez-Lopez S: 53 Commercial Street LLC Mtg: Mtg Equity Partners $821,631 Date: 11/18/20 Total Assessed Value (2020): $676,000 Lot Size: 10806sf Prior Sale: $220,000 (04/10)

161 Fayette St, Lynn.................................... $300,000 Use:Auto Repair (332) B: Lynn FS Realty LLC S: James M Scranton Tr, Tr for DJS RT Mtg: Salem FiveCts Svgs Bk $225,000 Date: 11/24/20 Total Assessed Value (2020): $302,600 Lot Size: 6835sf

37-39 Gayron Way, Lynn.............................. $165,000 Use:Res Potentially Dvlpble Land (131) B: Arrowhead Builders LLC S: Darryl T Matvichuk & Kim A Matvichuk Date: 11/12/20 Total Assessed Value (2020): $73,600 Lot Size: 15985sf

28-34 Laighton St, Lynn.............................. $1,250,000

Use:Apartment Bldg - 4-8 Units (111) B: Samuel Roman Tr, Tr for Samuel Roman T S: NB Laighton LLC Mtg: Winchester Cp Bk $850,000 Date: 11/20/20 Total Assessed Value (2020): $769,300 Lot Size: 4063sf Prior Sale: $490,000 (01/16)

21-R Michigan Ave, Lynn..............................

5 Sagamore Pl, Lynnfield............................. $689,000

Malden

62-76 Broadway, Malden............................ $1,725,000 Use:Auto Repair (332) B: NY Cap Inv Grp LLC S: 6 NZ Realty LLC Date: 11/24/20 Total Assessed Value (2020): $997,400 Lot Size: 24522sf Prior Sale: $1,200,000 (07/19)

Mansfield

8 County St, Mansfield................................ $1,400,000 Use:Commercial Warehouse (316) B: JJ Mccarthy LLC S: Thomas D Verrochi Tr, Tr for County RT Date: 11/30/20 Total Assessed Value (2020): $609,300 Lot Size: 45302sf

389 Oakland St, Mansfield........................... $635,000 Use:Auto Repair (332) B: Wise Holdings Group LLC S: M3 Real Estate LLC Mtg: HarborOne Bank $500,000 Date: 11/25/20 Total Assessed Value (2020): $409,600 Lot Size: 34870sf Prior Sale: $145,000 (04/03)

Marlborough

7 Elm Pl, Marlborough................................. $700,000

Use:Restaurant/Bar (326) B: James L Xarras S: KJ Realty LLC Date: 11/18/20 Total Assessed Value (2020): $158,700 Lot Size: 5663sf Prior Sale: $165,000 (03/14)

Tolman Ave, Leominster................................

667 Nantasket Ave, Hull............................... $495,000

Use:Office Condo Unit (343) B: Textile Museum Offices S: Textile Group LLC Date: 11/16/20 Total Assessed Value (2020): $55,200

Use:Manufacturing Building (400) B: Stonegate 5 Lk St 2020 S: Pepde Corp Date: 11/23/20 Total Assessed Value (2020): $806,300 Lot Size: 37710sf

13 Short St, Leominster............................... $384,750

Hopkinton

491 Dutton St U:208, Lowell......................... $215,000

84 Lakefront St, Lunenburg......................... $150,000

29 Main St, Leominster............................... $1,150,000

54 Hopedale St U:2, Hopedale..................... $146,000

Use:Office Condo Unit (343) B: David A Stand Tr, Tr for Railroad T S: Textile Group LLC Mtg: Lowell Five Cent Svgs $330,000 Date: 11/10/20 Total Assessed Value (2020): $82,800

5 Lake St, Lawrence.................................... $783,142

Use:Apartment Bldg - 4-8 Units (111) B: 169 4th Avenue LLC S: Brian Phelps & Elizabeth Phelps Mtg: RTN FCU $465,000 Date: 11/20/20 Total Assessed Value (2020): $335,200 Lot Size: 6782sf Prior Sale: $278,000 (02/03)

Hopedale

Use:Apartment Bldg - 9 + Units (112) B: Sirk Chestnut Apt LP S: Sirk Building LP Mtg: Rockland Tr Co $7,695,000 Date: 11/27/20 Total Assessed Value (2020): $2,305,900 Lot Size: 13624sf

Use:Chapter 61 Forest (601) B: Joel Normandin & Cesira Newcomb S: Annette Alatalo Tr, Tr for Annette Alatalo T Date: 11/19/20 Total Assessed Value (2020): $1,500 Lot Size: 662983sf

212 Main St, Lenox....................................... $356,000

100 Appleton St, Holyoke............................ $1,277,000

70 Bridge St, Lowell.................................... $2,560,000

Use:Apartment Bldg - 4-8 Units (111) B: Jose Gavin & Elayne Gavin S: Carlos F Reyes & Maria L Reyes Mtg: Ross Mortgage Co Inc $575,000 Date: 11/27/20 Total Assessed Value (2020): $347,100 Lot Size: 4895sf

Lenox

Holyoke

Use:Housing Authority Property (970) B: Greater Lowell Hldg LLC S: Lowell Housing Authority Mtg: Jeanne DArc CU $332,802 Date: 11/25/20 Total Assessed Value (2020): $399,000 Lot Size: 4253sf

Lunenburg

1103 Main St, Leicester............................... $400,000

Holliston

50 Albion St, Lowell...................................... $416,003

Lawrence

Leicester

Holland

Use:Apartment Bldg - 4-8 Units (111) B: Hua Zhao S: Michael J Montminy & Lisa M Taylor-Montminy Mtg: East Boston Svgs Bk $468,750 Date: 11/13/20 Total Assessed Value (2020): $500,800 Lot Size: 7500sf Prior Sale: $235,000 (04/11)

Use:Apartment Bldg - 4-8 Units (111) B: Kimball 12 Pine LLC S: Michael Lee Mtg: Lowell Five Cent Svgs $472,500 Date: 11/13/20 Total Assessed Value (2020): $457,000 Lot Size: 3025sf Prior Sale: $150,000 (05/04)

Use:Commercial Warehouse (316) B: Kilvis Moreno Tr, Tr for 436 South Union RT S: David R Sirois Date: 11/30/20 Total Assessed Value (2020): $404,900 Lot Size: 15020sf

Hinsdale

100 4th Ave, Lowell...................................... $625,000

Use:Motel (301) B: Joseph Trybus & Lisa Trybus S: Lamp Post Properties LLC Date: 11/13/20 Total Assessed Value (2020): $149,600 Lot Size: 45298sf Prior Sale: $40,000 (04/09)

24 Dorchester St, Lawrence........................ $575,000

44 White St, Haverhill.................................. $604,471

64 4th Ave, Lowell....................................... $1,120,000

491 Dutton St U:201, Lowell......................... $250,000

2 Settlers Path, Lancaster........................... $125,000

15 Webster St, Haverhill.............................. $625,000

41 Cabot St, Holyoke....................................

Hyannis

$80,000

Use:County/Municipality Property (930) B: Neighborhood Dev Assoc S: Lynn City Of Date: 11/18/20 Total Assessed Value (2020): $240,800 Lot Size: 6119sf

70 Munroe St U:B, Lynn................................ $250,000 Use:Office Condo Unit (343) B: EWE Properties Inc S: EW Enterprises Co Ltd Date: 11/17/20 Total Assessed Value (2020): $203,500 Lot Size: 16848sf Prior Sale: $250,000 (12/10)

789 Summer St, Lynn................................... $775,000 Use:Mixed Use-Prim Res & Comm (013) B: IG Investments LLC S: Yevgeny Bernshtein Tr, Tr for 789 Summer Street RT Mtg: Lowell Five Cent Svgs $2,428,000 Date: 11/13/20 Total Assessed Value (2020): $484,600 Lot Size: 13846sf Prior Sale: $504,000 (03/19)

25-27 Woodman St, Lynn............................ $1,200,000

Use:Apartment Bldg - 4-8 Units (111) B: 25-27 Woodman Street LLC S: Urban Renewal 7 LLC Mtg: East Boston Svgs Bk $900,000 Date: 11/30/20 Total Assessed Value (2020): $737,500 Lot Size: 6000sf Prior Sale: $285,000 (12/12)

Use:Apartment Bldg - 4-8 Units (111) B: Charles L Estes Tr, Tr for 7-8 Elm Place RT S: Zimmerman Viktor Est & Eevi Zimmerman Mtg: Middlesex FSLA $490,000 Date: 11/20/20 Total Assessed Value (2020): $518,700 Lot Size: 21117sf Prior Sale: $365,000 (11/00)

Mattapan

643-647 Cummins Hwy, Mattapan.............. $2,000,000 Use:Retail-Service (325) B: Jewel Saeed Tr, Tr for Cummins Hwy Liquor Grp T S: 643-647 Cummins Hwy LLC Mtg: Newburyport Five Cent $1,375,450 Date: 11/24/20 Total Assessed Value (2020): $813,500 Lot Size: 9404sf

Medfield

38 Park St, Medfield................................... $1,357,500 Use:Retail-Service (325) B: Jeffrey J Hanson Tr, Tr for 933 Main Street T S: David K Lee Tr, Tr for Lee Group T Date: 11/17/20 Total Assessed Value (2020): $1,294,300 Lot Size: 22547sf

Methuen

12 Hampshire St, Methuen.......................... $325,000 Use:Restaurant/Bar (326) B: Arias LLC S: Miguel A Rosario Tr, Tr for Migros RT Mtg: Migros RT $300,000 Date: 11/24/20 Total Assessed Value (2020): $341,100 Lot Size: 3899sf Prior Sale: $325,000 (10/05)

184 Pleasant Valley St U:1, Methuen.......... $600,000 Use:Office Condo Unit (343) B: 184 Pleasant Valley LLC S: Ddsteele LLC Date: 11/16/20 Total Assessed Value (2020): $726,500 Prior Sale: $370,000 (12/15)

Webster Ave, Methuen..................................

$52,500

Use:Res Potentially Dvlpble Land (131) B: Mark Saffie & Milissa Saffie S: Addison Websster LLC Date: 11/24/20 Total Assessed Value (2020): $93,500 Lot Size: 50530sf

Middleboro

64 Leona Dr, Middleboro............................$50,000,000 Use:Commercial Warehouse (316) B: Salkovitz FT 2 LLC S: Christmas Tree Shops LLC Date: 11/13/20 Total Assessed Value (2020): $45,200,700 Lot Size: 3833280sf

375 Plymouth St, Middleboro...................... $500,000 Use:Mixed Use-Prim Res & Comm (013) B: Scott Osborne S: US Bank NA Tr Date: 11/27/20 Total Assessed Value (2020): $450,100 Lot Size: 140984sf Prior Sale: $415,554 (08/19)

Middleton

260 S Main St, Middleton............................ $1,565,000 Use:Restaurant/Bar (326) B: RMS Group Inc S: 260 South Main Street LLC Mtg: Salem FiveCts Svgs Bk $675,000 Date: 11/23/20 Total Assessed Value (2020): $1,148,400 Lot Size: 34739sf Prior Sale: $958,000 (11/10)

Milford

44 Central St, Milford.................................. $550,000 Use:Mixed Use-Prim Comm & Resd (031) B: Constellation RE Invs LLC S: Joaquim G Videira Tr, Tr for Vidmor RT Mtg: Joaquim G Morais $2,100,000 Date: 11/18/20 Total Assessed Value (2020): $358,800 Lot Size: 6804sf

50-52 Franklin St, Milford........................... $770,000 Use:Apartment Bldg - 4-8 Units (111) B: Nogueiras Family LLC S: Carlton Cottuli Tr, Tr for LC RT Mtg: Milford Fed Svgs Bk $562,500 Date: 11/13/20 Total Assessed Value (2020): $467,800 Lot Size: 9100sf Prior Sale: $280,000 (03/12)

1 National St, Milford..................................$52,700,000

Use:Manufacturing Building (400) B: NR 1 National Street LLC S: Milford National LLC Date: 11/17/20 Total Assessed Value (2020): $6,903,500 Lot Size: 1483218sf Prior Sale: $4,100,000 (12/18)

Nantucket

1 Cambridge St U:1, Nantucket.................. $2,400,000 Use:Mixed Use-Prim Res & Comm (013) B: Zero India Street LLC S: Kathleen Henry-West Tr, Tr for Sea Spirit NT Date: 11/10/20 Total Assessed Value (2020): $1,907,600

©2020 The Warren Group Inc. All rights reserved. No part of this publication may be reproduced without the written consent of the publisher.

DECEMBER 28, 2020

B11

6 Coffin St, Nantucket................................ $3,226,000 Use:Mixed Use-Prim Res & Comm (013) B: Thomas P Forman & Tanya Mcqueen-Forman S: Peter Watrous & Louise Eastman Mtg: First Republic Bk $2,258,200 Date: 11/19/20 Total Assessed Value (2020): $1,617,600 Lot Size: 5001sf Prior Sale: $1,937,500 (10/11)

241 SW Cutoff, Northborough..................... $6,695,600 Use:Commercial Warehouse (316) B: SROA 241 SW Cutoff MA LLC S: Storge Pros Northboro LLC Mtg: Teachers Insurance $68,800,000 Date: 11/09/20 Total Assessed Value (2020): $5,660,800 Lot Size: 248039sf

Northbridge

Natick

21 Summer St, Natick.................................. $760,000 Use:Retail-Service (325) B: Stonegate 21 Summr St LLC S: TNRC Co LLC Date: 11/12/20 Total Assessed Value (2020): $560,600 Lot Size: 9888sf

447 Hill St, Northbridge.............................. $5,825,000 Use:Charity Property (950) B: Blupoint Hlthcare Rlty 2 S: St Camillus Institute Inc Mtg: Celtic Bank $6,188,634 Date: 11/17/20 Total Assessed Value (2020): $5,707,300 Lot Size: 362419sf

34-44 Overlook St, Northbridge.................. $739,000

Needham

14 Oak St, Needham.................................... $975,000 Use:Office Bldg-General (340) B: EIP Oak Street LLC S: Paul C Richards Tr, Tr for PCR Oak RT Mtg: Brookline Bank $635,000 Date: 11/30/20 Total Assessed Value (2020): $424,700 Lot Size: 4792sf

2 Arch St, New Bedford................................ $260,000 Use:Apartment Bldg - 4-8 Units (111) B: Nicole E Desrosiers S: Noontide LLC Mtg: Total Mtg Svcs $255,290 Date: 11/16/20 Total Assessed Value (2020): $296,500 Lot Size: 2897sf Prior Sale: $250,000 (11/17) Use:Apartment Bldg - 4-8 Units (111) B: Maria Botelho & Leonardo Botelho S: OA Realty LLC Date: 11/27/20 Total Assessed Value (2020): $288,700 Lot Size: 2335sf Prior Sale: $120,000 (11/10)

Use:Retail-Service (325) B: Bristol Country Store LLC S: Libania L Brazao Tr, Tr for Manuel A Brazao Sr RET Mtg: Rockland Tr Co $400,000 Date: 11/23/20 Total Assessed Value (2020): $401,300 Lot Size: 87120sf Prior Sale: $399,000 (05/07)

Use:Auto Repair (332) B: Saint Jack Realty LLC S: Delbert A Brown Tr, Tr for D&M RT Mtg: Charles River Bank $460,000 Date: 11/25/20 Total Assessed Value (2020): $376,200 Lot Size: 61420sf

9 Curtis Farm Rd, Norwell.......................... $1,300,000 Use:Res Potentially Dvlpble Land (131) B: Carlene Swetz & Scott Swetz S: Welby Builders LLC Mtg: Citibank Na $1,105,000 Date: 11/25/20 Total Assessed Value (2020): $85,400 Lot Size: 102802sf Prior Sale: $260,000 (07/19)

Norwood

52-54 Court St, New Bedford....................... $320,000

Use:Industrial Condominum (450) B: Fouros LLC S: William A Oleary Tr, Tr for Oleary RT Date: 11/17/20 Total Assessed Value (2020): $293,500

916 Pleasant St U:19, Norwood................... $140,000

Use:Apartment Bldg - 4-8 Units (111) B: Christian S Macedo S: Margo M Kozak & Steven J Kozak Date: 11/24/20 Total Assessed Value (2020): $268,600 Lot Size: 5279sf

Osterville

57 Tower Hill Rd, Osterville......................... $450,000 Use:Retail-Service (325) B: Rubin Enterprises LLC S: VB Realty LLC Mtg: Cape Cod Cp Bk $225,000 Date: 11/30/20 Total Assessed Value (2020): $314,800 Lot Size: 6534sf

Peabody

47 Lakeshore Rd, Peabody.......................... $475,000

24 Sycamore St, New Bedford..................... $525,000 Use:Apartment Bldg - 4-8 Units (111) B: C2S Development LLC S: Danmar Investments LLC Mtg: Signature Lending LLC $510,200 Date: 11/13/20 Total Assessed Value (2020): $345,600 Lot Size: 6037sf Prior Sale: $350,000 (04/13)

Use:Religious Property (960) B: Anna T Brennan S: Wesley Unit Meth Church Mtg: Flagstar Bank FSB $380,000 Date: 11/13/20 Total Assessed Value (2020): $322,100 Lot Size: 3751sf Prior Sale: $347,000 (10/15)

58 Pulaski St, Peabody............................... $1,050,000

Newton

10-12 Dedham St, Newton.......................... $1,350,000 Use:Retail-Equipment (321) B: LLV Realty LLC S: Priscilla Luckhardt Tr, Tr for Hugo M Nordstrom RET Mtg: Avidia Bank $1,215,000 Date: 11/19/20 Total Assessed Value (2020): $872,600 Lot Size: 9044sf

Use:Industrial Warehouse (401) B: Mills 58 2 LLC S: Pab Ira LLC Mtg: Salem FiveCts Svgs Bk $2,705,600 Date: 11/20/20 Total Assessed Value (2020): $5,002,100 Lot Size: 100188sf Prior Sale: $6,600,000 (05/17)

70 Tremont St, Peabody.............................. $500,000

North Adams

91-101 Beaver St, North Adams.................. $169,000 Use:Apartment Bldg - 4-8 Units (111) B: Melinda Medina S: Beaver Properties Inc Date: 11/20/20 Total Assessed Value (2020): $154,000 Lot Size: 14868sf Prior Sale: $75,000 (02/13)

Use:Mixed Use-Prim Comm & Resd (031) B: 70 Tremont Street LLC S: Glenn J Silva Tr, Tr for Raymond J Silva IRT Mtg: Salem FiveCts Svgs Bk $250,000 Date: 11/30/20 Total Assessed Value (2020): $347,900 Lot Size: 3624sf

Pembroke

261 Washington St, Pembroke.................... $436,000

North Attleboro

131 Chestnut St, North Attleboro............... $2,800,000 Use:Apartment Bldg - 9 + Units (112) B: SREC Chestnut LLC S: Michael D Bedard Tr, Tr for Chestnut Lodge RT Mtg: Eastern Bank $2,225,000 Date: 11/20/20 Total Assessed Value (2020): $1,490,800 Lot Size: 34848sf

Use:Mixed Use-Prim Res & Comm (013) B: Daniel Lopez & Isabel L Nava S: Joan R Reynhart Mtg: LoanDepot.Com $292,500 Date: 11/12/20 Total Assessed Value (2020): $384,900 Lot Size: 13800sf Prior Sale: $461,000 (11/04)

Pepperell

116-118 Main St, Pepperell......................... $600,000

112 Park St, North Attleboro....................... $175,000 Use:Retail-Department Store (322) B: Stephen E Chaletzky Tr, Tr for 112 Park Street RT S: Michael P Gould & Diane H Gould Date: 11/17/20 Total Assessed Value (2020): $247,300 Lot Size: 3920sf Prior Sale: $160,000 (12/04)

Use:Restaurant/Bar (326) B: Kab Properties LLC S: 112-118 Main Street LLC Mtg: Newburyport Five Cent $600,000 Date: 11/24/20 Total Assessed Value (2020): $623,800 Lot Size: 16927sf

Pittsfield

75 Briggs Ave, Pittsfield.............................. $182,500

North Brookfield

40 Forest St, North Brookfield.................... $220,000 Use:Apartment Bldg - 4-8 Units (111) B: Gary Lemieux S: 40 Forest Street LLC Mtg: Leominster CU $176,000 Date: 11/10/20 Total Assessed Value (2019): $214,000 Lot Size: 25265sf Prior Sale: $190,000 (03/18)

Use:Apartment Bldg - 4-8 Units (111) B: Berkshire Hm Rentals LLC S: Julie L Zdon Mtg: Adams Community Bk $146,000 Date: 11/13/20 Total Assessed Value (2020): $158,000 Lot Size: 7079sf Prior Sale: $160,500 (10/09)

35 Downing Pkwy, Pittsfield........................ $640,000

197 N Main St, North Brookfield.................. $240,000 Use:Mixed Use-Prim Comm & Resd (031) B: Adams Block LLC S: Margaret M Munns Date: 11/10/20 Total Assessed Value (2019): $281,100 Lot Size: 4356sf

Use:Manufacturing Building (400) B: 35 Downing Dev LLC S: Rufo Industries Inc Mtg: Greylock FCU $325,000 Date: 11/20/20 Total Assessed Value (2020): $557,800 Lot Size: 80150sf

558 East St, Pittsfield.................................. $165,000

112 Main St, Northborough......................... $2,550,000

Use:Office Bldg-General (340) B: 376 Tyler Street LLC S: Berkshire RE Invs LLC Mtg: Pittsfield Cp Bk $123,750 Date: 11/30/20 Total Assessed Value (2020): $114,200 Lot Size: 14492sf Prior Sale: $90,000 (09/16)

160 Otis St U:C2, Northborough.................. $2,200,000

Use:Apartment Bldg - 4-8 Units (111) B: Logan J Thompson S: Woodwinds Prop MGT LLC Mtg: HarborOne Mortgage $300,000 Date: 11/13/20 Total Assessed Value (2020): $242,900 Lot Size: 6342sf Prior Sale: $72,000 (09/03)

Northborough

Plainfield

Plainville

Use:Apartment Bldg - 4-8 Units (111) B: Terrae Gethers S: Kevin E Welch Mtg: MiLend Inc $225,000 Date: 11/12/20 Total Assessed Value (2020): $248,300 Lot Size: 3589sf

Use:Restaurant/Bar (326) B: Michele Defreitas & Francisco L Defreitas S: Carreiros Pub 126 Bar&Grl Date: 11/27/20 Total Assessed Value (2020): $217,800 Lot Size: 5345sf Prior Sale: $170,000 (07/04)

$85,600

Use:County/Municipality Property (930) B: Andrew J Breslin & Pamela Conroy-Breslin S: Pittsfield City Of Date: 11/23/20 Total Assessed Value (2020): $187,400 Lot Size: 188615sf

Norton

98 Beetle St, New Bedford........................... $300,000

126 Dartmouth St, New Bedford.................. $110,000

900 South St, Pittsfield.................................

615 W Main St, Plainfield............................. $190,000

Norwell

204-206 Ashley Blvd, New Bedford............. $280,000

$40,000

Use:Mixed Use-Prim Res & Comm (013) B: Lakewood Creamery LLC S: Del Gallo Remo Est & Karen Ingegni Date: 11/13/20 Total Assessed Value (2020): $86,900 Lot Size: 5911sf

Use:Apartment Bldg - 4-8 Units (111) B: C Household LLC S: Transform Prop Group LLC Mtg: Hometown Bank $554,250 Date: 11/17/20 Total Assessed Value (2020): $459,100 Lot Size: 22746sf Prior Sale: $405,662 (04/19)

194 S Worcester St, Norton......................... $500,000

New Bedford

390 Newell St, Pittsfield...............................

Use:Office Bldg-Medical (342) B: 112 Main St Medical LLC S: Fab Realty LLC Mtg: Avidia Bank $1,912,500 Date: 11/24/20 Total Assessed Value (2020): $2,412,600 Lot Size: 98446sf Prior Sale: $2,400,000 (10/04)

60 Elizabeth St, Pittsfield............................ $400,000

Use:Non-residential Condo (349) B: SROA 241 SW Cutoff MA LLC S: Storge Pros Northboro LLC Mtg: Teachers Insurance $68,800,000 Date: 11/09/20 Total Assessed Value (2020): $1,741,200 Lot Size: 152024sf Prior Sale: $2,700,000 (10/17)

59 Hamlin St, Pittsfield................................ $170,000 Use:Charity Property (950) B: Margaret I Walsh S: Mental Health&Substance Mtg: Greylock FCU $164,900 Date: 11/20/20 Total Assessed Value (2020): $138,500 Lot Size: 7906sf

Use:Mixed Use-Prim Res & Comm (013) B: Michael J Slocum & Judith M Slocum S: Christine Giera Tr, Tr for Edward J Kaplita LT Mtg: Chemung Canal T Co $152,000 Date: 11/20/20 Total Assessed Value (2020): $182,400 Lot Size: 47916sf

160 South St, Plainville................................ $575,000

20 Turtle Brook Rd, Plainville...................... $783,211 Use:Res Potentially Dvlpble Land (131) B: Joseph A Boateng & Nelly Malangko S: Mirimichi Land Invs LLC Mtg: Salem Five Mtg Co $626,000 Date: 11/17/20 Total Assessed Value (2020): $67,600 Lot Size: 40019sf

Plymouth

71 Armstrong Rd, Plymouth........................ $2,750,000

Use:Research & Dvlpmnt Facility (404) B: Bel Air Co LLC S: Duxbury Assos LP Mtg: Dedham Inst for Svgs $1,375,000 Date: 11/24/20 Total Assessed Value (2020): $2,660,800 Lot Size: 339768sf

41 Bearberry Path, Plymouth...................... $493,323 Use:Res Potentially Dvlpble Land (131) B: M Leigh Litchfield & Mary J Litchfield S: Stabile Hm At Redbrook Date: 11/23/20 Total Assessed Value (2020): $71,000 Lot Size: 8769sf Prior Sale: $731,000 (03/20)

43 Bearberry Path, Plymouth...................... $577,480 Use:Res Potentially Dvlpble Land (131) B: Gregory S Glod & Mary E French-Glod S: Stabile Hm At Redbrook Mtg: Bank of America NA $200,000 Date: 11/12/20 Total Assessed Value (2020): $71,100 Lot Size: 8884sf Prior Sale: $731,000 (03/20)

417 Court St, Plymouth............................... $1,200,000

Use:Apartment Bldg - 4-8 Units (111) B: 417 Court LLC S: Bayside Properties Inc Mtg: Abington Svgs Bk $960,000 Date: 11/20/20 Total Assessed Value (2020): $918,600 Lot Size: 13284sf

34 Pebble Beach Dr, Plymouth.................... $215,000 Use:Res Potentially Dvlpble Land (131) B: Mary Jane Mcgreevy T S: Waverly Oaks Dev LLC Date: 11/12/20 Total Assessed Value (2020): $97,500 Lot Size: 10239sf

Provincetown

198 Commercial St, Provincetown............. $1,299,000

Use:Inn/Resort (302) B: 198 Commercial Propco LLC S: Ranchwood Inc Mtg: Cape Cod Cp Bk $649,500 Date: 11/16/20 Total Assessed Value (2021): $1,600,600 Lot Size: 2091sf Prior Sale: $830,000 (03/03)

30 Shank Painter Rd, Provincetown........... $1,200,000 Use:Office Bldg-Medical (342) B: Meili West LLC S: Brian Omalley Tr, Tr for Shank Painter Mdcl Bldg T Mtg: Rockland Tr Co $2,612,546 Date: 11/13/20 Total Assessed Value (2021): $1,024,000 Lot Size: 7841sf

Quincy

203 Atlantic St, Quincy............................... $1,215,000 Use:Apartment Bldg - 4-8 Units (111) B: 203 Quincy LLC S: 203 Atlantic Street LLC Mtg: Atlantic KM LLC $730,000 Date: 11/17/20 Total Assessed Value (2020): $799,900 Lot Size: 9930sf Prior Sale: $580,000 (05/04)

300 Crown Colony Dr, Quincy.....................$17,950,000

Use:Commercial Building (347) B: GCP Crown Colony 2 LLC S: MF Crown Colony 1031 LLC Mtg: Boston Private Bank $12,800,000 Date: 11/17/20 Total Assessed Value (2020): $18,060,500 Lot Size: 272250sf Prior Sale: $16,080,000 (12/13)

73 Gilbert St, Quincy.................................... $485,000 Use:Res Potentially Dvlpble Land (131) B: Dorje Lama S: PT Investments LLC Mtg: New Fed Mtg Corp $388,000 Date: 11/13/20 Total Assessed Value (2020): $82,700 Lot Size: 2000sf Prior Sale: $255,000 (10/18)

21 Mayor Thomas J Mcgrath Hw U:201, Quincy.............. $260,130 Use:Office Condo Unit (343) B: Davey 201 Realty LLC S: John A Chistolini Tr, Tr for Chistolini&Desimone RT Mtg: TD Bank NA $200,000 Date: 11/10/20 Total Assessed Value (2020): $260,800

36 Shaw St, Quincy...................................... $924,000 Use:Apartment Bldg - 4-8 Units (111) B: Safi Naji S: Shaw Street LLC Date: 11/24/20 Total Assessed Value (2020): $689,300 Lot Size: 5027sf Prior Sale: $401,500 (04/10)

Randolph

875 N Main St, Randolph.............................. $337,500 Use:Mixed Use-Prim Res & Comm (013) B: Ariel Acosta S: Adam Pishdadian Mtg: Movement Mtg LLC $303,750 Date: 11/23/20 Total Assessed Value (2020): $210,244 Lot Size: 1300sf Prior Sale: $64,000 (09/09)

Raynham

660 N Main St, Raynham.............................. $367,500 Use:Religious Property (960) B: Oyewale Dairo S: Roman Catholic Bishop Mtg: Embrace Home Loans $365,893 Date: 11/25/20 Total Assessed Value (2020): $368,800 Lot Size: 33106sf

Reading

2 Haven St U:203, Reading.......................... $385,000 Use:Office Condo Unit (343) B: CD Mack Realty LLC S: ZZW Realty LLC Mtg: Reading Cp Bk $288,750 Date: 11/09/20 Total Assessed Value (2020): $418,400 Prior Sale: $315,274 (05/07)

625 Main St, Reading.................................. $7,325,000 Use:Apartment Bldg - 9 + Units (112) B: Viceroy Reading Partners S: General Wa Apartments LLC Mtg: Brookline Bank $1,800,000 Date: 11/20/20 Total Assessed Value (2020): $3,690,300 Lot Size: 31199sf Prior Sale: $3,850,000 (07/12)

Revere

83 Bradstreet Ave, Revere.......................... $637,500 Use:Apartment Bldg - 4-8 Units (111) B: Bradstreet LLC S: CDI Commercial Dev Inc Date: 11/13/20 Total Assessed Value (2020): $702,400 Lot Size: 5000sf Prior Sale: $231,000 (05/00)

386 Squire Rd, Revere................................. $849,000 Use:Commercial Warehouse (316) B: Angela C Benatti & Nilson Rigonatti S: United Service Group Inc Mtg: Newtek Small Bus Fin $803,700 Date: 11/12/20 Total Assessed Value (2020): $516,400 Lot Size: 3622sf Prior Sale: $435,000 (05/16)

Roxbury

56 Seaver St, Roxbury................................ $1,238,500 Use:Other Exempt (990) B: Chuks C Okoli S: Leovofs LLC Mtg: Guaranteed Rate Inc $928,875 Date: 11/23/20 Prior Sale: $300,000 (01/14)

Rutland

50 Woodside Ave, Rutland........................... $403,932 Use:Res Potentially Dvlpble Land (131) B: Janet M Dargon & Kenneth Dargon S: Brice Estates Inc Mtg: United Wholesale Mtg $383,735 Date: 11/17/20 Total Assessed Value (2020): $6,600 Lot Size: 15000sf

Salisbury

165 Atlantic Ave, Salisbury.......................... $340,000 Use:Apartment Bldg - 4-8 Units (111) B: William L Harvey 3rd S: Adolph A Antonelli Jr & Linda Garcia Mtg: Franklin SB $243,750 Date: 11/10/20 Total Assessed Value (2020): $568,000 Lot Size: 4500sf

Sandwich

15 Jan Sebastian Dr U:C2, Sandwich........... $125,000 Use:Industrial Condominum (450) B: Mikael Cavaco S: Paul M Morris Tr, Tr for Morris FT Mtg: Martha Vineyard SB $100,000 Date: 11/13/20 Total Assessed Value (2020): $115,700 Prior Sale: $100,000 (01/10)

6 Merchants Rd U:5, Sandwich.....................

$82,500

6 Merchants Rd U:6, Sandwich.....................

$97,000

6 Merchants Rd U:B4, Sandwich...................

$82,500

Use:Retail Condo (345) B: Russell S Gonsalves Sr Tr, Tr for KRG RT S: Neil Campbell Tr, Tr for C&C RT Date: 11/16/20 Total Assessed Value (2020): $83,500 Use:Retail Condo (345) B: Russell S Gonsalves Sr Tr, Tr for KRG RT S: Neil Campbell Tr, Tr for C&C RT Date: 11/16/20 Total Assessed Value (2020): $94,300 Prior Sale: $79,000 (05/00)

Use:Retail Condo (345) B: Russell S Gonsalves Sr Tr, Tr for Lifetime KRG RT S: Neil Campbell Tr, Tr for C&C RT Date: 11/16/20 Total Assessed Value (2020): $105,800

Saugus

670 Broadway, Saugus................................. $710,000 Use:Restaurant/Bar (326) B: Toan K Tran S: Chien M Chen Date: 11/24/20 Total Assessed Value (2020): $840,400 Lot Size: 32156sf Prior Sale: $750,000 (01/05)

315 Central St, Saugus................................ $505,000 Use:Mixed Use-Prim Res & Comm (013) B: Nhung T Ho S: Joseph M Freehling & Cynthia A Gustafson Mtg: Caliber Home Loans $488,145 Date: 11/24/20 Total Assessed Value (2020): $545,800 Lot Size: 5998sf

Twilight Rd, Saugus.......................................

$90,000

Use:Res Potentially Dvlpble Land (131) B: Don Q RE Development LLC S: Ortins Group Inc Date: 11/10/20 Total Assessed Value (2020): $29,800 Lot Size: 10250sf Prior Sale: $30,000 (03/20)

Scituate

28 Country Way, Scituate............................ $740,000 Use:Mixed Use-Prim Res & Comm (013) B: Steven L Whiting & Kathleen F Whiting S: Mary A Driscoll Mtg: Coastal Heritage Bank $555,000 Date: 11/24/20 Total Assessed Value (2020): $528,500 Lot Size: 23217sf

Sheffield

94 Maple Ave, Sheffield............................... $475,000 Use:Inn/Resort (302) B: Michael Kantor & Kathy Landau S: Gail Ullman Mtg: JPMorgan Chase Bank $380,000 Date: 11/30/20 Total Assessed Value (2020): $602,200 Lot Size: 392040sf

©2020 The Warren Group Inc. All rights reserved. No part of this publication may be reproduced without the written consent of the publisher.

DECEMBER 28, 2020

B12 Somerville

Taunton

Use:Apartment Bldg - 9 + Units (112) B: Skeffington-Silva Prop S: Margaret M Jandl Tr, Tr for Ward 1 T Mtg: Cambridge Tr Co $3,900,000 Date: 11/19/20 Total Assessed Value (2020): $1,824,000 Lot Size: 5100sf

Use:Apartment Bldg - 4-8 Units (111) B: Guilherme Lopes-Correia & Joana Goncalves-Correia S: Gallo Serier LLC Mtg: Fairway Ind Mtg $594,041 Date: 11/13/20 Total Assessed Value (2020): $275,300 Lot Size: 9583sf

372 Beacon St, Somerville......................... $5,100,000

112 Glen St, Somerville.............................. $2,425,000 Use:Apartment Bldg - 4-8 Units (111) B: Somerville 1 LLC S: THF Glen LLC Date: 11/23/20 Total Assessed Value (2020): $1,692,000 Lot Size: 4135sf Prior Sale: $937,500 (01/15)

41 Walnut St, Somerville............................ $1,503,557 Use:Apartment Bldg - 4-8 Units (111) B: Francisco Dias S: Robert D Whalen Tr, Tr for JZW FT Mtg: Leader Bank NA $1,132,845 Date: 11/19/20 Total Assessed Value (2020): $1,318,000 Lot Size: 5650sf Prior Sale: $820,000 (07/05)

Southampton

93 College Hwy, Southampton.......................

$4,221

196 Main St, Wareham................................. $210,000

478 Bay St, Taunton..................................... $605,000

566 Bay St, Taunton..................................... $614,000

Warren

210 School St, Taunton.................................

Use:Manufacturing Building (400) B: 81 South Street LLC S: Hardwick Knitted Fabrics Date: 11/10/20 Total Assessed Value (2020): $1,117,700 Lot Size: 164191sf

Use:Apartment Bldg - 4-8 Units (111) B: Jeanette T Rodrigues S: Dennis M Borges Tr, Tr for A&J RT Mtg: Bay Equity LLC $602,878 Date: 11/16/20 Total Assessed Value (2020): $336,700 Lot Size: 6534sf

$72,500

Use:Commercial Warehouse (316) B: David N Demoranville S: 210 School Street RT & Leonard Harding Foreclosure Deed Date: 11/16/20 Total Assessed Value (2020): $290,100 Lot Size: 10454sf Prior Sale: $200,000 (07/03)

490 Winthrop St, Taunton............................ $427,455

Use:County/Municipality Property (930) B: PSF 1 RT S: Southampton Town Of Date: 11/10/20 Total Assessed Value (2020): $24,400 Lot Size: 367646sf

Use:Office Bldg-General (340) B: Dumont Hldg Taunton LLC S: 490 Winthrop Street LLC Mtg: Webster Bank $803,800 Date: 11/20/20 Total Assessed Value (2020): $983,100 Lot Size: 155074sf Prior Sale: $1,300,000 (10/04)

Spencer

Tewksbury

Use:Apartment Bldg - 4-8 Units (111) B: Jebola Properties Inc S: Thomas Lynch Mtg: Webster FiveCent Svgs $140,000 Date: 11/09/20 Total Assessed Value (2020): $235,600 Lot Size: 23568sf Prior Sale: $95,000 (12/13)

Use:Office Condo Unit (343) B: Gerald Pagliuca & Bridgid E Pagliuca S: Michelle Ricard Date: 11/10/20 Total Assessed Value (2020): $29,400 Lot Size: 100sf Prior Sale: $15,000 (10/16)

60 Main St, Spencer..................................... $200,000

70 Amore Rd, Springfield............................. $200,000 Use:County/Municipality Property (930) B: Joshua Cruz-Birriel S: Casa Trio LLC Mtg: Movement Mtg LLC $196,377 Date: 11/17/20 Total Assessed Value (2020): $93,200 Lot Size: 8398sf Prior Sale: $88,200 (05/20)

Use:Apartment Bldg - 4-8 Units (111) B: Moumie Dibinga S: RBT Enterprises LLC Mtg: Cross Country Mtg Inc $265,109 Date: 11/10/20 Total Assessed Value (2020): $192,500 Lot Size: 3872sf Prior Sale: $125,000 (07/17)

41 Harrison Ave, Springfield....................... $3,500,000 Use:Other Exempt (990) B: Massachusetts Convention S: Springfield Pking Auth Date: 11/23/20 Total Assessed Value (2020): $5,909,000 Lot Size: 78060sf

2273 Main St, Springfield........................... $1,200,000 Use:Auto Sales (330) B: Trolley Barn Prop LLC S: Park View South LLC Mtg: Westfield Bank $1,456,000 Date: 11/17/20 Total Assessed Value (2020): $1,089,500 Lot Size: 32901sf

$52,900

Use:Office Condo Unit (343) B: Light Enterprises Inc S: Susan G Duda Tr, Tr for JBA RT Date: 11/24/20 Total Assessed Value (2020): $47,300 Lot Size: 100sf Prior Sale: $59,900 (01/10)

Use:Manufacturing Building (400) B: P8 Tewksbury Propco LLC S: Albany Rd Sunnyslope LLC Mtg: Cambridge Svgs Bk $22,900,000 Date: 11/10/20 Total Assessed Value (2020): $7,837,000 Lot Size: 902563sf Prior Sale: $11,058,960 (09/15)

Tyngsboro

1 Bridgeview Cir U:15B, Tyngsboro..............

Use:Office Condo Unit (343) B: Lees Properties LLC S: Dennis M Page Tr, Tr for Rental Associates RT Mtg: Enterprise Bk & Tr Co $75,000 Date: 11/24/20 Total Assessed Value (2020): $15,800 Prior Sale: $30,000 (12/05)

$50,000

Upton

143 Main St, Upton....................................... $845,000

46-48 Montgomery St, Springfield.............. $244,500 Use:Apartment Bldg - 4-8 Units (111) B: Shawn Mitchell S: Brennan Properties LLC Mtg: Mortgage Networks Inc $183,375 Date: 11/24/20 Total Assessed Value (2020): $192,500 Lot Size: 5611sf Prior Sale: $72,500 (05/08)

Use:Apartment Bldg - 4-8 Units (111) B: Chris S Kozaczka & Jill P Kozaczka S: Tammy A Mcgee Tr, Tr for Mcgee FT Mtg: Country Bank $633,750 Date: 11/18/20 Total Assessed Value (2020): $661,400 Lot Size: 392023sf Prior Sale: $900,000 (08/04)

Uxbridge

35 Balm Of Life Spring Rd, Uxbridge.......... $5,930,400

191 Oakland St, Springfield......................... $300,000 Use:Apartment Bldg - 4-8 Units (111) B: Sharon Pankey S: R M Blerman LLC Mtg: Residential Mtg Svcs $294,566 Date: 11/10/20 Total Assessed Value (2020): $221,600 Lot Size: 4857sf Prior Sale: $15,000 (06/11)

Use:Commercial Warehouse (316) B: SROA 35 Balm Of Life SPR S: JA Uxbridge LLC Mtg: Teachers Insurance $68,800,000 Date: 11/09/20 Total Assessed Value (2020): $3,088,600 Lot Size: 236095sf Prior Sale: $4,693,440 (05/16)

Walpole

380 Plainfield St, Springfield...................... $1,407,500 Use:Office Bldg-Medical (342) B: Baystate Medical Ctr Inc S: Centro De Salude Medico Date: 11/20/20 Total Assessed Value (2020): $2,998,500 Lot Size: 77537sf

203 Main St, Walpole................................... $560,000 Use:Retail-Service (325) B: Monarch 203 LLC S: Kathleen A Raftery Mtg: Bank of America NA $405,000 Date: 11/13/20 Total Assessed Value (2020): $472,700 Lot Size: 23219sf

420 Main St U:1, Walpole............................. $150,000

83-91 Sumner Ave, Springfield................... $2,486,500 Use:Apartment Bldg - 9 + Units (112) B: Palpum Raw LLC S: Kevin H Knight & Jeffrey J Knight Mtg: Monson Svgs Bk $1,989,200 Date: 11/16/20 Total Assessed Value (2020): $1,774,400 Lot Size: 21414sf Prior Sale: $1,155,000 (08/08)

Use:Office Condo Unit (343) B: Anas LLC S: John Conroy Tr, Tr for 420 Main Street RT Mtg: Citizens Bank of RI $90,000 Date: 11/09/20 Total Assessed Value (2020): $157,000

1449 Main St, Walpole................................. $600,000

159-163 Sumner Ave, Springfield............... $1,553,500 Use:Apartment Bldg - 9 + Units (112) B: 2 Stroke Holdings LLC S: Stoneridge Realty LLC Mtg: Monson Svgs Bk $1,242,800 Date: 11/16/20 Total Assessed Value (2020): $1,034,700 Lot Size: 15002sf

19 Warner St, Springfield............................ $502,000 Use:Apartment Bldg - 4-8 Units (111) B: 15 Warner Street LLC S: Luxiana Property LLC Mtg: Webster First FCU $376,500 Date: 11/23/20 Total Assessed Value (2020): $269,400 Lot Size: 6630sf Prior Sale: $218,000 (08/13)

144 White St, Springfield............................ $1,082,000 Use:Apartment Bldg - 4-8 Units (111) B: Pioneer Housing LLC S: Arch Properties LLC Date: 11/20/20 Total Assessed Value (2020): $414,100 Lot Size: 5001sf Prior Sale: $286,000 (06/09)

Swampscott

495 Paradise Rd, Swampscott.................... $3,488,900 Use:Bank Building (341) B: MSG Swampscott ATM LLC S: S-Bnk Swampscott LLC Date: 11/13/20 Total Assessed Value (2020): $2,308,800 Lot Size: 30372sf Prior Sale: $2,791,841 (08/00)

1379 Gar Hwy, Swansea............................... $285,000 Use:Office Bldg-General (340) B: United Homes LLC S: Antoinette M Barber Mtg: BayCoast Bank $185,000 Date: 11/20/20 Total Assessed Value (2020): $265,000 Lot Size: 48787sf

$30,000

65 Sunnyslope Ave, Tewksbury...................$18,750,000

32 Dickinson St, Springfield........................ $270,000

Swansea

1501 Main St U:23, Tewksbury......................

2500 Main St U:107, Tewksbury....................

Springfield

Use:Retail-Department Store (322) B: Michael J Kjelgaard Tr, Tr for Kjelgaard T S: Karen H Chase Tr, Tr for 196 Main St RT Date: 11/13/20 Total Assessed Value (2020): $181,600 Lot Size: 3203sf

Use:Mixed Use-Prim Comm & Resd (031) B: Doueihi Eldoueihi Tr, Tr for Eldoueihi RT S: SVJ Johnson LLC Mtg: Middlesex Svgs Bk $464,000 Date: 11/10/20 Total Assessed Value (2020): $473,500 Lot Size: 16000sf Prior Sale: $425,000 (01/18)

Waltham

221-223 Brown St, Waltham....................... $1,287,000 Use:Apartment Bldg - 4-8 Units (111) B: Alexander Dumanski & Sarah Dumanski S: Graham R Briggs Tr, Tr for Southfields FT Mtg: Home Point Finl Corp $772,200 Date: 11/16/20 Total Assessed Value (2020): $722,100 Lot Size: 4530sf Prior Sale: $500,000 (09/09)

96-100 Maple St, Waltham.......................... $670,000 Use:Retail-Service (325) B: Rta Do&Nguyen LLC S: 100 Maple Street LLC Mtg: Huntington Natl Bank $569,500 Date: 11/19/20 Total Assessed Value (2020): $561,100 Lot Size: 2744sf

81 South St, Warren.................................... $1,653,750

Webster

175 Main St, Webster................................... $280,000 Use:Retail-Service (325) B: Joshua A Biando S: Daniel M Marcoux Mtg: Daniel Marcoux $230,998 Date: 11/24/20 Total Assessed Value (2020): $100,000 Lot Size: 4138sf Prior Sale: $125,000 (06/04)

21 Pearl St, Webster.................................... $515,000 Use:Manufacturing Building (400) B: Robert Warehouse LLC S: Anglo Silver Liner Co Inc Date: 11/30/20 Total Assessed Value (2020): $210,400 Lot Size: 94961sf

Wendell

West St (ES), Wendell...................................

$48,000

Use:Res Potentially Dvlpble Land (131) B: Iris Eichenberg S: Michael F Desorgher Date: 11/23/20 Total Assessed Value (2020): $43,400 Lot Size: 138608sf

West Boylston

40 Central St, West Boylston....................... $512,000 Use:Apartment Bldg - 4-8 Units (111) B: Daniel P Consalvo & Debbie A Consalvo S: Gregory J Heitman & Catherine H Heitman Mtg: HarborOne Mortgage $382,680 Date: 11/16/20 Total Assessed Value (2020): $282,900 Lot Size: 18731sf Prior Sale: (03/17)

West Bridgewater

499 W Center St, West Bridgewater............ $500,000 Use:Mixed Use-Prim Comm & Resd (031) B: 499 West Center St LLC S: James G Bloumbas Tr, Tr for West Center RT Mtg: Mechanics Cp Bk $560,000 Date: 11/09/20 Total Assessed Value (2020): $461,600 Lot Size: 6970sf

700 W Center St U:6-2, West Bridgewater...

Use:Office Condo Unit (343) B: AB&JC Realty LLC S: George J Marsh Jr Tr, Tr for K&M RT Date: 11/19/20 Total Assessed Value (2020): $92,000

$75,000

West Springfield

20 Connecticut Ave, West Springfield......... $225,000 Use:Commercial Warehouse (316) B: Gregory T Chartier S: KSC Holdings LLC Date: 11/16/20 Total Assessed Value (2020): $191,600 Lot Size: 36534sf Prior Sale: $165,000 (11/15)

47 Sprague St, West Springfield.................. $175,000 Use:Apartment Bldg - 4-8 Units (111) B: Peter J Houser Tr, Tr for Olmstead RT S: Michael Donskoy & Irina Donskaya Date: 11/16/20 Total Assessed Value (2020): $169,900 Lot Size: 5000sf Prior Sale: $102,000 (06/10)

Use:Mixed Use-Prim Res & Comm (013) B: Rosaira Perez S: Paul V Pavao & Tracy L Pavao Mtg: Total Mtg Svcs $400,000 Date: 11/19/20 Total Assessed Value (2020): $382,600 Lot Size: 35025sf Prior Sale: $275,000 (08/05)

Wilbraham

1997 Boston Rd, Wilbraham....................... $1,350,000 Use:Commercial Warehouse (316) B: 1997 Boston Rd LLC S: Peoplesbank Mtg: PeoplesBank (Holyoke) $1,650,000 Date: 11/24/20 Total Assessed Value (2020): $697,100 Lot Size: 89298sf Prior Sale: $875,000 (12/09)

176 Cottage Ave, Wilbraham...................... $1,155,000 Use:Manufacturing Building (400) B: Monnay Miller S: Wilbraham Land&Dev LLC Mtg: Wilbraham Land&Dev $550,000 Date: 11/18/20 Total Assessed Value (2020): $350,600 Lot Size: 392040sf Prior Sale: $10,000 (06/14)

Wilmington

79 Eames St, Wilmington............................ $1,882,500 Use:Manufacturing Building (400) B: 77-79 Eames Street LLC S: JFAZ LLC Date: 11/12/20 Total Assessed Value (2020): $466,200 Lot Size: 23835sf

Winchendon

5 Summer Dr, Winchendon.......................... $265,000 Use:Bowling Alley (370) B: Higgins Mechanical Grp S: Catherine Mizhir Tr, Tr for 3M RT Date: 11/16/20 Total Assessed Value (2020): $395,100 Lot Size: 66211sf Prior Sale: $137,500 (06/09)

Woburn

22 6th Rd, Woburn...................................... $1,600,000 Use:Industrial Warehouse (401) B: Cieri Group LLC S: 22 Sixth Road LLC Mtg: Lowell Five Cent Svgs $4,071,229 Date: 11/18/20 Total Assessed Value (2020): $1,371,200 Lot Size: 33750sf Prior Sale: $1,400,000 (02/04)

192 Lexington St, Woburn............................ $440,000 Use:Commercial Building (347) B: Pai J Huang & Yi C Huang S: 192 Lexington Street LLC Date: 11/25/20 Total Assessed Value (2020): $424,100 Lot Size: 10152sf

Use:Industrial Warehouse (401) B: BSREP 3 3-24 Normac LLC S: Normac Warehouse LLC Date: 11/09/20 Total Assessed Value (2020): $2,415,800 Lot Size: 84506sf

Worcester

14 Farnum St, Worcester..............................

Use:County/Municipality Property (930) B: Alexander Keselman & Tanya Keselman S: Worcester City Of Date: 11/24/20 Total Assessed Value (2020): $3,700 Lot Size: 3885sf

$3,700

16 Groton Pl, Worcester.............................. $400,000

West Tisbury

Use:Apartment Bldg - 4-8 Units (111) B: Viola LLC S: Loren Golubic-Campbell Date: 11/20/20 Total Assessed Value (2020): $358,200 Lot Size: 3552sf Prior Sale: $308,000 (07/17)

Use:Mixed Use-Prim Res & Comm (013) B: Susan Stone Tr, Tr for 671 State Road NT S: Michael M Stone & Susan E Stone Mtg: Martha Vineyard SB $385,000 Date: 11/23/20 Total Assessed Value (2020): $556,800 Lot Size: 18375sf

Use:Office Bldg-General (340) B: Alana Giannopoulos S: Carolyn W Erskine Mtg: UniBank for Savings $200,000 Date: 11/10/20 Total Assessed Value (2020): $272,200 Lot Size: 1845sf

Use:Mixed Use-Prim Res & Comm (013) B: Douglas F Best 3rd Tr, Tr for Douglas F Best 3rd RET S: Catherine V Walthers & David P Kelliher Mtg: Martha Vineyard SB $1,418,400 Date: 11/09/20 Total Assessed Value (2020): $1,395,600 Lot Size: 133294sf

Use:Apartment Bldg - 4-8 Units (111) B: Premier Inv Prop LLC S: Anomar Properties LLC Mtg: Hometown Bank $480,000 Date: 11/17/20 Total Assessed Value (2020): $386,200 Lot Size: 12990sf Prior Sale: $375,000 (03/18)

671 State Rd, West Tisbury.......................... $375,000

30 Highland St, Worcester........................... $300,000

1201 State Rd, West Tisbury....................... $1,773,000

42 Lewis St, Worcester................................ $600,000

Westfield

763 Main St, Worcester............................... $260,000

291 E Main St, Westfield.............................. $640,000 Use:Restaurant/Bar (326) B: Absak LLC S: Donald W Obitz & Lynn R Obitz Date: 11/19/20 Total Assessed Value (2020): $389,900 Lot Size: 31300sf

Use:Retail-Service (325) B: Worcester Cnty Mgmt Corp S: Tommy Luong & Ha T Luong Date: 11/20/20 Total Assessed Value (2020): $201,200 Lot Size: 1788sf Prior Sale: $117,000 (08/11)

Use:Office Condo Unit (343) B: Matthew Charles & Lynn Charles S: Christine Pajouh Date: 11/20/20 Total Assessed Value (2020): $99,500

Use:Apartment Bldg - 4-8 Units (111) B: Tiffany Murphy Prop LLC S: Martin F Zajac Tr, Tr for MFZ RT Mtg: Cornerstone Bank $330,000 Date: 11/19/20 Total Assessed Value (2020): $286,400 Lot Size: 3812sf

48 E Silver St U:6, Westfield.........................

$75,000

93 Main St, Westfield................................... $370,000

Ware

Use:Apartment Bldg - 4-8 Units (111) B: Rejicus LLC S: William N Landford Mtg: Bay State Savings Bk $225,000 Date: 11/13/20 Total Assessed Value (2020): $229,600 Lot Size: 6970sf Prior Sale: $286,000 (12/05)

Use:Manufacturing Building (400) B: Function Of Time LLC S: Stellwagen Rlty Group Inc Mtg: Country Bank $1,880,000 Date: 11/20/20 Total Assessed Value (2020): $1,783,200 Lot Size: 119354sf Prior Sale: $320,000 (01/05)

Wareham

Weston

Use:Retail-Department Store (322) B: Agree Stores LLC S: Gould Wareham LLC Date: 11/20/20 Total Assessed Value (2020): $454,600 Lot Size: 10018sf Prior Sale: $1,160,000 (11/01)

Use:Nursing Home (304) B: 75 Norumbega Inv LLC S: NHP Weston LLC Mtg: Warrior Capital Corp $3,954,275 Date: 11/27/20 Total Assessed Value (2020): $10,309,900 Lot Size: 185130sf Prior Sale: $10,584,645 (05/07)

3105-A Cranberry Hwy, Wareham.............. $2,672,000

676 Sanford Rd, Westport........................... $450,000

20 Normac Rd, Woburn............................... $4,608,000

Use:Retail-Department Store (322) B: Sardinhas&Constante Rlty S: Margaret M Amanti Mtg: Margaret M Amanti $370,000 Date: 11/12/20 Total Assessed Value (2020): $336,200 Lot Size: 11692sf

61 West St, Ware......................................... $299,500

Westport

3 Progress Ave, Westfield.......................... $2,350,000

75 Norumbega Rd, Weston......................... $5,500,000

33 William St, Worcester............................. $440,000

Yarmouth

807 Route 28, Yarmouth.............................. $275,000 Use:Mixed Use-Prim Res & Comm (013) B: Marie Caron S: Michael L Hamrah Tr, Tr for Main Street 807 RT Date: 11/20/20 Total Assessed Value (2021): $353,000 Lot Size: 23087sf Prior Sale: $300,000 (12/01)

1268 Route 28, Yarmouth............................ $326,000 Use:Office Bldg-General (340) B: Tatra LLC S: Hovsepian Realty LLC Mtg: Cape Cod Cp Bk $244,500 Date: 11/19/20 Total Assessed Value (2021): $260,200 Lot Size: 11761sf Prior Sale: $144,900 (05/11)

259 Willow St, Yarmouth.............................. $975,000 Use:Office Bldg-General (340) B: Latham Centers Inc S: James C Goldsmith Tr, Tr for James C Goldsmith RET Date: 11/20/20 Total Assessed Value (2021): $876,900 Lot Size: 39204sf

©2020 The Warren Group Inc. All rights reserved. No part of this publication may be reproduced without the written consent of the publisher.