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THE FINANCIAL SERVICES AND REAL ESTATE WEEKLY FOR MASSACHUSETTS BY THE NUMBERS
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County close-up: Norfolk Spotlight: Plainville
IN PERSON
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Bruce Percelay’s development firm Mount Vernon Co. was an early arrival to Allston’s multifamily boom, and it continues to build apartment and condo projects on Boston’s western frontier. At the same time, it’s exploring options for office and lab development to take advantage of the proximity to Cambridge’s life science cluster.
WEEK OF MONDAY, MARCH 2, 2020
RESIDENTIAL REAL ESTATE BY THE NUMBERS
$399,000 The median statewide condominium sale price in January. See Week on the Web on page 2. Source: The Warren Group’s Statistics Module
$393,000 The median statewide single-family sale price in January. See Week on the Web on page 2. Source: The Warren Group’s Statistics Module
$313,750 The January median single-family sale price in Norfolk County’s cheapest community. See By the Numbers on page 6. Source: The Warren Group’s Statistics Module
C O R O N AV I R U S C O R R E C T I O N
COULD REAL ESTATE
CATCH A VIRUS?
3,378 The total number of homes in Plainville. See the Town Spotlight in By the Numbers on page 6. Source: U.S. Census Bureau.
$517,500 The median single-family sale price in Norfolk County. See By the Numbers on page 6. Source: The Warren Group’s Statistics Module
12.4 percent January’s median condominium sale price last month was up 12.4 percent year-over-year. See Week on the Web on page 2. Source: The Warren Group’s Statistics Module
5.62 percent The year-over-year increase in the number of Norfolk County single-family sales in January. See By the Numbers on page 6. Source: The Warren Group
$7.1 million The most expensive recent, existing single-family sale in Norfolk County. See By the Numbers on page 6. Source: The Warren Group
Unless otherwise noted, all data is sourced from The Warren Group’s Mortgage Market Share Module, Loan Originator Module, Statistics Module and/or proprietary database. For more information please visit www.thewarrengroup.com/business/ datasolutions.
Bay State Businesses Face Risks as COVID-19 Spreads BY SCOTT VAN VOORHIS BANKER & TRADESMAN STAFF
C
ontrary to what the very stable genius in the White House says, it’s only a matter of time before the full fury of the coronavirus reaches our shores. No sooner had President Trump assured the nation on live TV last Wednesday that the “risk to the American people
remains very low,” then news broke of the first case of Covid-19 of unconfirmed origin in the United States. That suggests the virus may be already be on the move here, undetected and spreading. So much for those talking points. In a courageous move, considering her boss’ notoriously thin skin, National Center for Immunization and Respiratory Diseases Director Dr. Nancy Messonnier ditched the happy talk at a news conference last week and leveled with the public. “It’s not so much of a question of if this will happen anymore but rather more of
a question of exactly when this will happen,” Dr. Messonnier said, adding rather famously, “this could be bad.”
Who Will Hurt Most?
So, what does this all mean for Massachusetts and the business community here? It would be grotesque to talk of winners and losers here, but the fact is, if we get hit with anything like what we have seen from afar in China, there will be major disruptions to every facet of life, especially and including industries and businesses across the board.
Continued on Page 3
DONE DEAL?
FINANCIAL FIREPOWER
Preservationists Want Commitment to Restoration
Many Banks Still Challenged to Adapt
Four Options for Hurley Building Redevelopment By Steve Adams | Banker & Tradesman Staff
Commercial Real Estate PAGE 3
Banks Face Familiar Obstacles to Evolve Small Business Lending By Diane McLaughlin | Banker & Tradesman Staff
Banking & Lending PAGE 9