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THE FINANCIAL SERVICES AND REAL ESTATE WEEKLY FOR MASSACHUSETTS BY THE NUMBERS
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County close-up: Dukes and Nantucket Spotlight: Chilmark
IN PERSON
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After the 9/11 attacks, Leominster-based office furniture manufacturer AIS sprang into action producing 2,500 workstations for employees displaced from the Pentagon. Amid a new national crisis, founder Bruce Platzman’s firm is stepping up again to help local first responders.
WEEK OF MONDAY, APRIL 20, 2020
RESIDENTIAL REAL ESTATE BY THE NUMBERS
THE COLOR OF MONEY
14,421 square feet The size of the largest home in this week’s Gossip Report. See page 9. Source: The Warren Group
171 percent The increase in the number of home sales on Martha’s Vineyard, year-to-date. See By the Numbers on page 6. Source: The Warren Group’s Statistics Module
$840,000 The median single-family sale price on Martha’s Vineyard, year-to-date. See By the Numbers on page 6. Source: The Warren Group’s Statistics Module
$19.7 million The price of the most expensive home in this week’s Gossip Report. See page 9. Source: The Warren Group.
$8 million The spread between the most and least expensive recent single-family sales and Martha’s Vineyard. See By the Numbers on page 6. Source: The Warren Group
3,350 square feet The size of the smallest home in this week’s Gossip Report. See page 9. Source: The Warren Group
785 Chilmark has 785 more homes than permanent residents. See the Town Spotlight in By the Numbers on page 6. Source: U.S. Census Bureau
$4.5 million The price of the least expensive home in this week’s Gossip Report. See page 9. Source: The Warren Group
Unless otherwise noted, all data is sourced from The Warren Group’s Mortgage Market Share Module, Loan Originator Module, Statistics Module and/or proprietary database. For more information please visit www.thewarrengroup.com/business/ datasolutions.
MINORITYOWNED FIRMS LOSE OUT IN PPP RACE Lenders Urged to Make Equity Push in Next Round BY DIANE MCLAUGHLIN BANKER & TRADESMAN STAFF
W
ith all funding for the $349 billion federal Paycheck Protection Program gone in less than two weeks, some of the same communities disproportionately affected by COVID-19 also faced hurdles in accessing the money
meant to help small businesses. “We understand the impact that this coronavirus is going to have on all of our businesses, but particularly our small businesses of color, who came into this with less resources, less connection to networks,” said Eastern Bank President Quincy Miller during a panel discussion hosted by the Greater Boston Chamber of Commerce on April 14. From being unbanked to limited accounting support, small business owners of color have faced challenges gaining access to PPP loans. Though Congress remains
deadlocked on whether the program will receive additional funding, community organizations see opportunities for banks and credit unions to make efforts to help these businesses, many of them in the same communities most affected by the public health crisis. In addition, minority communities are seeing the worst COVID-19 infection rates across Massachusetts, state data analyzed by UMass Boston’s Donahue Institute shows. Continued on Page 9
COMMERCIAL INTERESTS
CAN’T TOUCH THIS
Changed Tastes and Accelerating Downturn Will Challenge Coworking Firm
Can Social Distancing and Office Space Co-Exist?
WeWork Must Do More than Retain Tenants By Scott Van Voorhis | Banker & Tradesman Columnist
Commercial Real Estate PAGE 3
Not Just Another Day at the Office By Steve Adams | Banker & Tradesman Staff
Commercial Real Estate PAGE 7