Banker & Tradesman CRE Insider March 2020 by The Warren Group

THIS MONTH: INNOVATIONS IN HOUSING | NEXT MONTH: RETAIL SPACE

INSIDE TRACK

Clean Harbors Buys Norwell HQ Property for $27.5M MARCH 30, 2020

A BANKER & TRADESMAN COMMERCIAL REAL ESTATE SPECIAL SECTION

FILLING THE GAPS

Environmental services firm Clean Harbors has acquired its Norwell headquarters from The RMR Group of Newton for $27.5 million. The 104,008-square-foot office building in Assinippi Park was built in 1995 and has been Clean Harbors’ headquarters since 2004. It’s currently undergoing a capital improvement program including a renovated cafe, new patio and upgrades to office space. Newmark Knight Frank’s capital markets team oversaw the transaction. “42 Longwater Drive benefits from its positioning along the Route 3 South corridor, which offers direct access to the South Shore’s highly soughtafter employee base,” Newmark Knight Frank Executive Managing Director Matthew Pullen said in a statement.

NEW FRONTIERS IN HOME ENERGY EFFICIENCY

WBZ-TV Studio Redevelopment Plans Unveiled in Allston

INSULATION MATERIALS AND

INSTALLATION EVOLVE

National Development and Mount Vernon Cos. are moving ahead with plans for a replacement studio for WBZ-TV in Allston, freeing up portions of the 8-acre Soldiers Field Road property for additional future projects. The first phase of development would include the demolition of an 18,500-squarefoot office building at 1200 Soldiers Field road and the WBZ radio tower at 1170 Soldiers Field Road to make way for the replacement studios. Designed by Gensler, the plans call for a 3-story, 63,000-square-foot building with updated technology, developers said in a project notification form submitted to the Boston Planning & Development Agency. WBZ’s existing studio will remain in operation during the construction of the new facilities, developers said. The proposed 55-foot height of the new building will require a variance from the zoning board of appeal. The studio redevelopment is the first phase of a potential larger redevelopment of the 8-acre site, located in a neighborhood that has attracted recent proposals for office, lab and multifamily projects.

BY JAY FITZGERALD SPECIAL TO BANKER & T R A D E S M A N

INSIDE Evolving Expectations The Future of Designing Shared Space in Multifamily Residences Page B5 Breaking Barriers Innovation, Grassroots Support Drove Newtonville Development Page B7

A $3.5 million pilot program by the state Department of Energy Resources supports the use of new and updated insulation products and installation techniques.

o many Americans, home insulation conjures up images of pre-cut rolls of fiberglass “batts” tucked between the inner studs of walls, floors, attics and ceilings. Today, fiberglass insulation remains one of the most popular forms of home insulation in the U.S., according to industry data, and it’s expected to reign at the top for some time. But the seemingly hidebound world of insulation is changing, as new products are introduced, old products are updated and consumers demand ever more efficient, affordable and environmentally friendly insulation products. As a result, the insulation industry, and its related offshoots, today abounds in a dizzying array of new and updated terminology that the average homeowner may struggle to understand. “There’s been a lot of changes over the years,” Rob Calnan of Walthambased Calnan’s Energy Systems Inc, said of all the new insulation products and installation techniques on the market today. Continued on Page B4

B2 | BANKER & TRADESMAN | CRE INSIDER

MARCH 30, 2020

Taylor Cain TITLE:

Director, City of Boston Housing Innovation Lab AGE:

30 INDUSTRY EXPERIENCE:

Seven months

New Housing Models for 21st-Century Bostonians BY STEVE ADAMS BANKER & TRADESMAN STAFF

A: Q: How strong has been the response to the compact living pilot program that eliminates minimum square-

footage requirements in multifamily construction?

We’re starting to see a fair amount of interest in utilizing these guidelines to create new types of development project. We’ve had a number of proposals that include all-compact units, or significant numbers of compact units, that span the geography of the city: Fields Corner, we’re having conversations in Mattapan. There is a co-living project proposed in Allston, and we’re really seeing it utilized across different parts of the city which is very exciting.

Q: What feedback are you getting from developers?

Because at this point none of these buildings have been constructed yet, what we have learned is more about the arrangement of buildings, and how we’re making sure we’re keeping track of transportation demand management associated with projects. There are a menu of options: things like bike parking, bike sharing, transit passes to residents. There have been some discussions about bedroom sizes.

Q: What’s been the public response to the additional dwelling unit program encouraging creation of more

living spaces in one- to three-family homes?

We’re still seeing there are two levels. We have this monthly ADU design workshop where people can get feedback on their plans from inspectional services and BPDA and the Department of Neighborhood Development. And they also have representatives from the Boston Home Center who can speak to the [zerointerest] loan program. For those sessions, we get at least 15 to 20 people each month. Some just have questions and considering the idea, and others who are ready to file a permit. We have a small but steady pipeline of folks who are moving through the permitting process. I don’t think any of us thought there would be this flood of applications. Nonprofits play an important role in making connections to the contractors. The most recent count that I had was that we had 11 in the pipeline.

Q:What are the discussions about reimagining the triple-decker, or new models for workforce housing that make sense economically for developers in the 21st century?

That’s a conversation we’re having right now, around the city, really focusing on East Boston, Mattapan and Dorchester, around what is the future triple-decker. At this point, we’re had an initial community conversation where we just opened the floor to people about the personal histories and lives in the neighborhoods and more broadly, what does it mean to have these structures in the neighborhood. Over the next few months, we’ll be taking a look and working with an architectural studio helping us create some visuals. Zoning definitely comes up a lot in the conversations with developers: the kind of restrictions for different types of projects. We hear and understand that. We as a city are exploring different ways we can play a role in creating housing opportunities.

Q:What’s the next step for the initiative to encourage housing development on public properties such as

Taylor Cain was named director of Boston’s Housing Innovation Lab in September. The agency, part of the city’s Department of Neighborhood Development, studies new housing models that reflect the current needs of Bostonians. The lab has spearheaded pilot programs enabling residents to create additional dwelling units in their homes, eliminates minimum square-footage requirements in multifamily projects, and invites developers to build housing on municipal properties. A Jamaica Plain resident, Cain recently completed her doctorate in sociology at Boston University, where she studied the effects of gentrification on Boston neighborhoods.

libraries and fire stations?

This is really the city taking a lot of the things we control and how we leverage public assets. At this point, we’ve had at least two conversations about public assets, the Fields Corner Library in Dorchester and a municipal parking lot in Roslindale. Currently there’s parcel 12 in Chinatown, which is not a typical project, but an example of co-location with an eventual public library branch in Chinatown with housing. There’s definitely continued legal challenges that we’re looking at closely with the law department, and it would need to be a conversation with the state legislature. We as a city are committed to maintaining ownership of the assets, so it’s more about how those co-located projects would be developed. It would require we do a lot of research about how other municipalities have pursued that.

Q:What other initiatives are in the early stages? A:

One of the questions we’re interested in exploring is how employers are thinking about the impact of housing on their labor force. We’re beginning to work with a couple of community partners to do a survey on the housing benefits that employers in Boston are offering. There’s a range of ways in which employers are investing in the housing needs of their employees. Oftentimes, universities can offer down payment assistance or relocation assistance for new staff hires, and that’s more focused on the recruitment side. There are a number of employers nationally that are exploring offering down payment assistance or grants and loans for employees as a means of retention once you’ve been with an organization for a period of years.

Over the next few months, we’ll be taking a look and working with an architectural studio helping us create some visuals. Zoning definitely comes up a lot in the conversations with developers: the kind of restrictions for different types of projects.

MARCH 30, 2020

BANKER & TRADESMAN | CRE INSIDER | B3

LAW OF THE LAND DEBT DECISION

Real Estate Attorney Liable Under Successor Liability New Sole Proprietorship Not Sufficient to Avoid Judgment BY CHRISTOPHER R. VACCARO SPECIAL TO BANKER & TRADESMAN

magine that you sue a business for unpaid debts. After months of litigation, you secure a money judgment against the business. While you celebrate this victory, the business discontinues operations and files for bankruptcy, and the business owner immediately starts a new business under a similar name, using the same assets to provide the same services to the same customers. Would you have any recourse against the new business? The Massachusetts Supreme Judicial Court considered this question last month in Smith v. Kelley. Robert Smith was a hard-luck case. A Marine Corps veteran, Smith suffered from debilitating mental illness. He was functionally illiterate and living in his car in 2005, when Dwight Jenkins recruited him as an unwitting participant in a mortgage fraud scheme. Jenkins would enter into contracts to buy property, then assign his rights as buyer to straw purchasers for fraudulent higher prices. The straws then closed loans based on the fraudulent higher prices, but only paid the lower prices for the properties, with Jenkins collecting the difference as a “release fee.” The straws received small payments for participating. Jenkins created false financial profiles for Smith, who then closed mortgage loans with Louis Bertucci, an associate attorney at RKelley-Law, PC. Bertucci (who unsurprisingly has been suspended from practicing law) directed the unknowing Smith to sign fraudulent documents to obtain the loans. Smith received $19,000 for his trouble. Smith defaulted on the loans, resulting in foreclosures, a ruined credit history and further deterioration to his mental health. He sued Bertucci and RKelley-Law, PC, together with Robert E. Kelley, the sole officer, director and stockholder of RKelley-Law, PC. A federal court

found RKelley-Law, PC vicariously liable for Bertucci’s misconduct, and entered a judgment for over $200,000 against it. However, the court determined that Kelley himself was not liable, because he was unaware of the mortgage fraud scheme. Kelley terminated RKelley-Law, PC’s employees, wound down its affairs and put it into bankruptcy. He continued his law practice as a sole proprietorship, at the same office with the same email address, using similar letterhead. Smith’s efforts to collect the $200,000 against RKelley Law, PC were fruitless, so Smith sued Kelley personally in Superior Court under successor liability theory.

SJC Overrules Superior Court Decision

Massachusetts courts generally are unwilling to entertain suits against successor businesses under this theory, unless one of four conditions are met; namely the successor assumes its predecessor’s liabilities, the transaction is a merger or consolidation, the successor is a mere continuation of the predecessor or the transaction is a fraudulent effort to avoid the predecessor’s liabilities. The Superior Court ruled against Smith without following this analysis. Instead, it held that Smith could not invoke the doctrine of successor liability against Kelley, because the doctrine does not apply when the predecessor is a corporation and the successor is a sole proprietorship. Smith appealed. The Supreme Judicial Court reversed the Superior Court. The SJC rejected Kelley’s attempt to shed business debts by simply changing his law practice from a professional corporation to a sole proprietorship. The SJC then focused on whether Kelley’s sole proprietorship was a “mere continuation” of RKelley-Law, PC. The SJC noted several significant facts. Before Kelley dissolved RKelley-Law, PC, the professional corporation was effectively controlled by Kelley alone, as was the successor sole proprietorship. Kelley’s sole proprietorship continued to receive legal fees from clients of RKelley-Law, PC. Kelley’s sole proprietorship took equipment, inventory and supplies from the

The sole proprietorship used the same email address, office space, IOLTA account and health insurance as RKelley-Law, PC. Under these circumstances, the SJC had little difficulty finding Kelley’s new law office liable under successor liability theory.

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A recent Supreme Judicial Court case considered whether a firm was liable for debts incurred by its predecessor.

predecessor corporation, without paying for them. The sole proprietorship used the same email address, office space, IOLTA account, and health insurance as RKelleyLaw, PC. Under these circumstances, the SJC had little difficulty finding Kelley’s new law office liable under successor liability theory. Kelley’s use of a sole proprietorship to avoid the judgment against RKelley-Law, PC appeared to backfire. However, the SJC was not totally insensitive to Kelley’s plight. The SJC held that revenues from Kelley’s proprietorship should be available to pay Smith, but that Kelley’s other assets should not. The SJC reversed the

Superior Court’s decision and instructed that court to fashion an equitable remedy so that only Kelley’s law practice revenues would pay the debt to Smith. This decision raises interesting issues for small businesses generally, not just lawyers. Contractors, architects, physicians and other professionals should be aware that they cannot escape their debts simply by closing one business, then opening another at the same location and with the same clientele.

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.

109 Brookline Ave, Boston..................$270,000,000

100 Crowley Dr, Marlborough................$16,500,000

109 Brookline Ave, Boston..................$270,000,000

349-369 University Ave, Westwood.......$15,500,000

124-128 Medway Rd, Milford.................$42,125,000

77 S Bedford St, Burlington...................$14,183,522

77 S Bedford St, Burlington...................$35,000,000

126-132 N Washington St, Boston.........$11,500,000

490 Eastern Ave, Malden.......................$26,000,000

69 Waverley Ave, Watertown.................. $9,400,000

Use: Commercial Use B: CPS 109 Brookline LLC S: EQC Operating T Date: 02/18/20 Total Assessed Value (2019): $28,262,050 Lot Size: 29999sf

Use: Commercial Use B: CSP 109 Brookline LLC S: EQC Operating T Date: 02/18/20 Total Assessed Value (2019): $28,262,050 Lot Size: 29999sf

Use: Shopping Ctr/Mall B: Lipt Medway Road LLC S: Relp Milford Corp Date: 02/27/20 Total Assessed Value (2020): $13,125,600 Lot Size: 609840sf Prior Sale: $200,000 (06/99)

Use: Office Bldg-General B: NC RJK 77 South Bedford S: W RJK 77 S Bedford LLC Date: 02/12/20 Total Assessed Value (2019): $21,073,400 Lot Size: 285754sf Prior Sale: $30,000,000 (11/13)

Use: Industrial Warehouse B: PS Northeast LLC S: Malden Storage LLC Date: 02/24/20 Total Assessed Value (2020): $6,119,400 Lot Size: 73331sf Prior Sale: $4,200,000 (04/16)

Use: Office Bldg-General B: Bear Hill Realty LLC S: 1st Colony Chestnut Ridge Mtg: MutualOne Bk $3,750,000 Date: 02/14/20 Total Assessed Value (2020): $8,321,400 Lot Size: 286189sf

Use: Industrial Warehouse B: ICBP 4 Holdings 42 LLC S: William F Mccall Jr Tr, Tr for Bradshaw Westwood T Date: 02/14/20 Total Assessed Value (2020): $6,228,550 Lot Size: 296208sf

Use: Office Bldg-General B: NC RJK 77 South Bedford S: W RJK 77 S Bedford LLC Date: 02/12/20 Total Assessed Value (2019): $21,073,400 Lot Size: 285754sf Prior Sale: $30,000,000 (11/13)

Use: Apartment Bldg - 4-8 Units B: GPT Properties LLC S: N&P Associates LLC Date: 02/24/20 Total Assessed Value (2019): $3,734,500 Lot Size: 2160sf Prior Sale: $1,550,000 (08/04)

Use:Apartment Bldg - 9 + Units B: Ic Waverley Townhomes LLC S: Chatham Park LLC Mtg: Easthampton Svgs Bk $7,650,000 Date: 02/26/20 Total Assessed Value (2020): $2,326,100 Lot Size: 10759sf Prior Sale: $775,000 (10/08)

B4 | BANKER & TRADESMAN | CRE INSIDER

MARCH 30, 2020

19th-Century Insulation Material Stages a Comeback Continued from Page B1 In the insulation world, it ultimately all comes down to three things: the estimated “R value,” or the all-important energy efficiency measurement of insulation products; the cost of products and services; and the eco-friendliness of products and services, as exemplified by the “embodied carbon movement,” which tracks the amount of carbon that’s used to produce various energy-efficiency products. “Insulation improvements and innovations are happening all the time,” said Aaron Gunderson, director of Passive House of Massachusetts, a non-profit that promotes energy-efficient new homes. If the commonwealth of Massachusetts has its way, the use of new and updated insulation products and installation techniques may well accelerate in coming years, depending on the findings of the ongoing pilot “Market Value Performance” (MVP) program overseen by the state Department of Energy Resources. According to Ian Finlayson, deputy director of the energy efficiency division at DOER, the goal of the $3.5 million program is to explore ways to increase energy savings and then possibly weave some of the program’s findings into future conservation/energy efficiency policies. The specific areas being explored are insulation, heating system upgrades and air sealing of buildings. The strategy: Give participating contractors the flexibility to try new and old ways of improving the energy efficiency

Plant-based insulation methods are popular with consumers due to the high proportion of recycled material used in their production.

of buildings – and keeping close track of exactly what’s being done and the specific energy savings involved.

Cellulose Challenges Fiberglass as Favored Material

Calnan’s Energy Systems is an MVP contractor – and it’s focusing mostly on a tried-and-true method of insulating new and retrofitted homes: Cellulose “blow-in” insulation, which uses ground-up recycled paper, such as newspapers, treated with fire-retardant chemicals. Cellulose products have been around for years – rivaling fiberglass batting in popularity – but their

LEASE Roundup

quality has consistently improved over the years, Calnan said. Chris Alphen, general manager of Dolphin Insulation in Littleton, said he prefers cellulose insulation for a number of reasons: It’s not toxic; it retards fire, mold and mildew; and it “manages humidity well.” Its “R value” is lower than spray-foam insulation, but it’s ecologically friendly and preferred by many property owners because of its high use of recycled materials. One insulation product making a big comeback, also with modern innovations, is so-called “mineral wool” (also commonly referred to by some as “rock

wool”), whose origin as insulation dates back to the 19th century and today is experiencing a resurgence in popularity due to its eco-friendliness. It refers to products made from recycled glass, basalt, rocks and slag from steel mills, all of which are ground up and spun into woollike insulation materials and products. The “wild west” of insulation, as one insulation contractor called it, is “spray foam insulation” -- and it’s considered by far the most energy efficient insulation product in terms of R value. But it’s also at least one-third more expensive than other insulation products. Robert Whitmyer, owner of Genesis Insulation LLC in Newton, says his firm primarily uses spray-foam products divided into two categories: “closed cell” (or more dense foam), usually used in basements and within framing studs, and “open cell” (which expands more quickly in building cavities), usually used on exterior walls and roofs. “There are a lot of new products out there,” said Whitmyer of spray foam. “More and more people are requesting it.” Another emerging option is so-called “rigid insulation” product, or closed-cell foam boards. But industry officials say there are lingering concerns among consumers, and some contractors, about health and environmental risks associated with spray-foam products. That, combined with its higher prices, is somewhat limiting its adoption. Continued on Page B6

Companies are constantly on the move in the Bay State’s dynamic commercial real estate market. It’s a high stakes game of musical chairs – and the landlords with the best information on who’s heading where have an inside edge. Our monthly Lease Roundup aims to provide that edge, offering a snapshot of leasing activity across the commonwealth. The following information was compiled from reports originally published on www.bankerandtradesman.com between Feb. 21 and March 20. It is not meant to be a comprehensive accounting of all leases executed during that time. If you recently signed a new lease and want to potentially appear in future editions of the Lease Roundup, please send all relevant leasing and representation information to editorial@thewarrengroup.com. High resolution photos and graphics are welcomed in .jpeg and .gif formats.

Address: . . . . . . . . . . . . . . . . . . . . . . . . . . . . 48 Dunham Ridge City/town: . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Danvers Tenant: . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Prova Inc. Square-Footage: . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14,000 Owner: . . . . . . . . . . . . . . . . . . . . . . . . . . . Cummings Properties Type of lease: . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . New Landlord Representation: . . . Cummings Properties’ Steve Drohosky Tenant Representation: . . . . . . . . . . . . . . . . . . . . . . . . . . . . N/A

75 HAYDEN AVE.

Address: . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 90 Salem Road City/town:. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Billerica Tenant: . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Omni Logistics Square-Footage: . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 116,000 Owner: . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Clarion Partners Type of lease: . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . New Landlord Representation: . . . . . . . . . . . . . . . . . . CBRE Boston Tenant Representation: . . . . . . . . . . . CBRE Boston Consulting

Address: . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 75 Hayden Ave. City/town:. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Lexington Tenant: . . . . . . . . . . . . . . . . . . . . . . . . Diverna Pharmaceuticals Square-Footage: . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 61,000 Owner: . . . . . . . . . . . . . . . . . . . . . . . . . . . King Street Properties Type of lease: . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . New Landlord Representation: . . . . . . . . . . . . . . . . . . . . . . . . . . N/A Tenant Representation: . . . . . . . . . . . . . . . . . . . . . . . . . . . . N/A 48 DUNHAM RIDGE

MARCH 30, 2020

BANKER & TRADESMAN | CRE INSIDER | B5

E V O LV I N G E X P E C TAT I O N S

The Future of Designing Shared Space in Multifamily Residences

Image courtesy of CBT Architects

Reexamining Community in a Global Health Crisis

DE V E LOPING N E W HOUS ING OPE N S DOORS FOR A COM M U N IT Y.

Architects will balance demand for community amenities with changing behaviors brought about by the global health crisis. Pictured is a lounge area at the 345 Harrison apartments in Boston’s South End.

BY R. VICKIE ALANI SPECIAL TO BANKER & TRADESMAN

s designers of multifamily residences, we have always had the responsibility to meet many expectations simultaneously. Creating beautiful, comfortable places that R. Vickie Alani many people will call home is balanced with providing a remainder of shared spaces that round out a new more urban, more shared-economy lifestyle. Now, more than ever, we must work to balance the complexity placed on those spaces, especially those that could see hundreds of people each day passing through. With the proliferation of a global health crisis on hand and the future of construction in our region in the lurch, the design community is examining how today’s lifestyles will be affected by the many factors we now face. For several years, we saw the progression in multifamily design go from allprivate to all-shared; from that ubiquitous movie screening room that must be reserved in advance to all-welcome, drop-in barre classes twice a day. We’re seeing a generation of residents whose expectations continue to evolve with the times, seeking a customizable blend of private and shared daily activities. Multifamily residential buildings are evolving to reflect these changes in real time.

bile working that can support sometimes three or more jobs at one time. People don’t want to be confined to their apartment units day and night, and naturally seek places for mobile working that are neither the same place where they sleep nor in a chain coffee shop. Rather, prospective tenants are shopping for living environments that offer break-out spaces where they can control their personal experience, yet remain semi-public and connected to their community in more subtle ways. Welldesigned amenities of this type provide private, quiet alcoves overlooking or overhearing a more active amenity space – giving people their desired closeness and distance at the same time.

Interacting, But at a Distance

Residential lobbies and common areas are being broken down into smaller nooks and pods. “See and be seen” is proving to be less applicable to these spaces these days. In its place, a “now you see me, now you don’t” phenomenon is emerging. We are creating spaces within spaces within other spaces, a practice previously unexplored. The layout, location and furnishing of these nooks within larger lounges offer cues that let people easily interact at a distance. This new movement reflects the need to transform space to match lifestyle. Increasingly fluid lifestyles call for more fluid spaces – and we’re answering the call. From workforce housing all the way up through market-rate housing, residential environments are evolving to produce an ever-changing variety of options. In the design community and at CBT, we’re seeing this in our projects here in Boston to Houston, Austin, Tampa, Baltimore and really everywhere. The post-gig economy, a time of personal and professional fluidity, will be marked by striking the right balance between public and private in every way. Now, of course, we wonder what the future holds for the sharing economy and shared living spaces. Whatever the outcome, our charge remains the same at its core: to meet many fundamental expectations simultaneously, while creating beautiful, comfortable and safe places that many people will call home.

People don’t want to be confined to their apartment units day and night, and naturally seek places for mobile working that are neither the same place where they sleep nor in a chain coffee shop.

Adapting to New Lifestyles

These days, virtual concierge, WiFi packages modifiable by the day and several AI options are being tried and tested, but the changes we are seeing are not necessarily about technology. They have much more to do with the interpersonal nature of living, working, dining, celebrating, getting fit, and generally interacting as a proximate residential community. It’s about people and the way they go about life together – and apart. The fact is that, to succeed in attracting tenants, residential buildings and their amenities need to be designed to support lifestyles that didn’t exist before. Well into the gig economy at this point, we’re seeing people of all ages and professions practicing a new brand of mo-

A range of housing options can make a community more inviting. MassDevelopment offers financing and real estate solutions that can help you transform blueprints into homes. Learn more at massdevelopment.com.

Bradstreet Partners LLC, North Andover

R. Vickie Alani AIA is a principal at CBT in Boston. KHJ25561_MAS-335 Develop_4.875x15.375_V2_MECH.indd 1

3/23/20 12:34 PM

B6 | BANKER & TRADESMAN | CRE INSIDER

MARCH 30, 2020

C O N N E C T I N G W I T H C H I N AT O W N

Winthrop Center Project Has Far-Reaching Effects SPECIAL TO BANKER & TRADESMAN

hat does an MIT professor of urban resources, an African American-owned cleaning company, a 100 percent affordable housing project in Chinatown and a Joseph Larkin transformational 1.4 million-square-foot tower in Downtown Boston dubbed Winthrop Center have in common? The answer: everything. As we face the COVID-19 health threat today, the interdependency of our entire community has never been clearer and what we do with this interdependency will ultimately determine what kind of future is in store for the generations to follow. As businesspeople deeply vested in Boston, we understand that along with the opportunity to invest $1.4 billion in Winthrop Center comes the responsibility to move our city forward in ways that will not only greatly benefit the community, but also have their voices heard. What we heard was that Winthrop Center should be a market leader in sustainability, an innovator in creating affordable housing, and an ally for people of color and women to break into the different facets of the largescale real estate industry. Enter Professor John Fernandez, who showed us how the world’s cities are using an ever-expanding portion of the earth’s resources, with consequences for the planet and how large-scale buildings are a city’s largest consumer of these resources. Just as important, he showed us that if we provide an even healthier work environment and give people an active role in reducing their resource consumption, we could have a more effective ecosystem. With the help of Handel Architects, we took a proven and simple residential construction and design approach from

Germany that focused on sustainability and healthy air and scaled it up resulting in Winthrop Center. What is expected to be the world’s largest passive house office building, Winthrop Center will use 65 percent less energy (with an ensuing greenhouse gas emissions reduction) for heating and cooling than the typical Boston office building, while still providing 30 percent more fresh air. Upon the opening of Winthrop Center in fall 2022, passive house will be an important pathway toward a Net Zero community, and the standard for new construction in the not too distant future. It all starts with talking. One of the many benefits of having the Winthrop Center project go through the gauntlet of approvals was the opportunity to forge new relationships with people across the city. One of the issues we discussed was the broad and generational obstacles that

Image courtesy of Handel Architects

BY JOSEPH LARKIN

Millennium Partners’ Winthrop Center tower complied with Boston’s inclusionary development policy by partnering with the Asian Community Development Corp. on plans for a 168-unit affordable housing project.

Image courtesy of Handel Architects

$1.4B Tower Unites Diverse Groups in Boston

The $1.4 billion Winthrop Center tower will be the world’s larges passive house office building.

people of color and women have to overcome in order to participate in the varied career paths and professional and service business ownership opportunities that make up the real estate industry’s human infrastructure. Those conversations went deeper, and law firms started looking into different schools to find new associates of color; architects and engineers began to team up with less experienced firms to meet diversity goals; construction unions put up billboards to attract people of color and women into their ranks; bankers started to open up their loan participation to minority-owned institutions; and DRB Facilities Services became our new cleaning service. The obstacles started to shift and the barriers began to crack. We have a long way to go, but we are building a pathway toward progress. In Chinatown, we teamed up with the Asian CDC to see if we could leverage our Winthrop Center obligation to create 105 affordable housing units into more units that were both larger and available to people of lower income. We targeted a rare Chinatown site owned by the city that included the Tuft Shared Services garage and a successful hotel owned by Corcoran Jennison on either side. Again, conversations started, and differences were identified and solved so that both abutters could expand into the site. Collectively we offered the city a project with all 168 affordable units, an expanded garage, a beautiful mid-market hotel and enough

money to eliminate any land cost for extra units. Despite diverse projects, diverse perspectives and diverse groups, we come together as one community because we understand that whether it’s sustainability, affordability or opportunity. Our best work is done with an open mind.

Joseph Larkin is a principal at Millennium Partners.

Insulation Materials Continued from Page B4 And an area of growing interest is related to increasingly sophisticated “dedicated air barrier systems,” or membranelike materials similar in concept to tar paper that are used to cover air leaks in exterior walls, as well as deal with moisture and humidity problems associated with insulation products. “The point is to provide a continuum of level of insulation” on the outside walls of structures, said Gunderson of Passive House of Massachusetts. Rachel White, chief executive of Byggmeister Design and Build in Newton, said she’s encouraged by all the innovations now going on within the home energy efficiency market, including new and improved insulation products. “In the end, it’s all about savings -- energy savings and [financial] savings,” she said.

Email: jayfitzmedia@gmail.com

SWIPE RIGHT

Streamlining the Homebuying Experience Torii App Targets Boston and Bay Area Markets BY ZACH GORMAN AND JAMES ROGERS SPECIAL TO BANKER & TRADESMAN

orii Inc. is a real estate brokerage and technology company that serves the Boston and San Francisco Bay areas. Started in the Boston area in June 2017, and Zach Gorman expanded to include the Bay Area in January 2020, Torii has streamlined the home buying process from the traditional real estate transaction. Born out of frustration for an ineffecJames Rogers tual and archaic system, Torii has reimagined the entire way people buy homes from top to bottom, search to close. Torii has created home buying for a new generation of buyers. What makes Torii unique?

Torii’s signature is that it pays closing costs. The amount Torii pays is determined by the home’s purchase price and the required closing costs, and the average Torii homebuyer in the Boston area receives a closing costs payment of over $6,000. Torii typically pays for the real estate attorney, notary, underwriting, title insurance and other fees that the homebuyer would traditionally be responsible for paying.

An Intuitive Platform for House-Hunting

Aside from paying closing costs, Torii has a strong network of local partners who have proven to maintain flexibility, honesty and timeliness through home purchases. It is not unheard of for a Torii agent to write up an offer past midnight when a buyer decides she is ready, or for one of its lending partners to turn around a pre-approval within a couple of hours for an urgent deal. Torii’s partner relationships, coupled with the company’s forward-looking systems, allow for efficiencies that most real estate companies do not have.

How does Torii improve the home buying experience? Torii was founded because buying a home can be a stressful, frustrating and scary process. One of us, Torii CEO James Rogers, experienced many issues during his own home purchase. Due to issues caused by vendors involved in the purchase, he was unable to close on time and had to spend a weekend in a hotel. His real estate agent was little help during the process and was still paid thousands of dollars in real estate fees. Rogers knew there was a better way. Torii’s intuitive platform allows homebuyers to search for a property, submit an offer and track their progress, all from their phones in the Torii app. Homebuyers have access to tools built by Torii that traditional real estate agents don’t – or won’t – share.

Torii’s mobile app allows househunters to search for a property, search comps, submit an offer and track their progress.

Comps Chomper shows a homebuyer the same data a real estate agent would use to provide comparable sold properties when determining an offer price for a home. Comps Chomper, for example, shows a homebuyer the same data a real estate agent would use to provide comparable sold properties when determining an offer price for a home. But homebuyers are not on their own: Torii also provides a Torii real estate agent who will go with the buyer on home viewings, discuss potential offer scenarios and negotiate an offer when the buyer is ready. The Torii real estate team continuously receives five-star reviews from clients for their flexibility, responsiveness and knowledge of the real estate market. The real estate industry has remained largely unchanged since the 1800s, and Torii has created a new way for home buyers: Torii is quickly becoming the new home buying standard.

Zach Gorman and James Rogers are co-founders of Boston-based Torii Inc.

MARCH 25, 2020

BANKER & TRADESMAN | CRE INSIDER | B7

BREAKING BARRIERS

Innovation, Grassroots Support Drove Newtonville Development BY ARTHUR KLIPFEL SPECIAL TO BANKER & TRADESMAN

hen 28 Austin, a mixed-use development that transformed an underutilized municipal parking lot into 68 apartments and 5,000 square feet of retail, opened in fall 2019 it Arthur Klipfel was the culmination of two distinct innovative housing strategies. The first was the deployment of a still evolving technology, off-site modular construction. The second was unleashing the power of committed community engagement to break down traditional barriers to building affordable housing in Boston suburbs. Developed by Austin Street Partners, a joint venture between Dinosaur Capital and Oaktree Development with the support of the city of Newton, 28 Austin was seven years in the making, and marks the first new multifamily housing north of Route 9 in Newton in over a decade. It also provides 23 affordable units (with five of those reserved for Section 8 renters) in a city that is woefully deficient in affordable housing.

Modular Has Come a Long Way

Although modular construction is not new, technological advances like building information modeling have greatly improved the delivery process and quality of construction. Continued Innovation, like Oaktree Development’s GreenStaxx modular building technology, which uses a virtual library of multiple pre-designed

and pre-engineered units that can be assembled like Lego blocks to fit any site, make modular increasingly viable. A 2019 McKinsey report estimates that modular construction can potentially cut schedules by 20 percent to 50 percent and construction costs by 20 percent when standardized designs and production are implemented, leading many to conclude that modular is the future of affordable housing production. For 28 Austin, the 65-by-13-foot units were built in a climate-controlled factory in Canada, transported by flatbed truck, then assembled at Austin Street in just over two weeks. Oaktree has constructed a number of multifamily modular projects in Massachusetts, significantly reducing project delivery times and disruptions to local businesses and residents in most instances. One development, 30 Haven in Reading (53 units, including 29 units of affordable or workforce housing and 22,000 square feet of retail), earned an Urban Land Institute Jack Kemp Excellence in Affordable and Workforce Housing Award in 2014.

Community Engagement Blunts Opposition

The second innovative component, one without which 28 Austin could not have moved forward, was the human factor. Affordable housing initiatives in the suburbs typically face organized NIMBY opposition, using a time-tested playbook to defeat such projects, and Newton was no different. In response, the Friends of Austin Street (FAS) was created by Newton housing advocacy group Engine 6, which had supported the conversion of a fire-

Photo courtesy of Oaktree Development

People-Powered Strategies Overcame NIMBY Playbook

The 28 Austin project was the first new multifamily project built north of Route 9 in Newton in over a decade.

house into housing for the homeless. Building upon their Engine 6 experience, FAS brought together a broad coalition of diverse groups to support the project, many of which were not traditionally associated with affordable housing. The Austin Street development team had a demonstrated track record of developing transit-oriented, sustainable multifamily housing – most frequently with an affordable component – so the project (such as LEED Gold Neighborhood design and solar panels) attracted groups like Green Newton and the High Performance Buildings Coalition. The Council of Aging (which advocates providing housing options for seniors), and the League of Women Voters (whose platform promotes affordable housing and sustainability) also joined forces with FAS. Members of these constituencies worked to gather signatures, speak at public hearings and aggressively lobby their aldermen. The project gained final approval by a slim margin in late 2015.

Projects like 28 Austin continue to validate the viability of modular construction as a way to lower the costs of providing high quality, affordable housing. And vertically integrated companies like Katerra, Skender and Factory OS are using standardization to create efficiencies to streamline the process. But in order to solve the housing crisis in Greater Boston and other major metros, people-powered solutions like FAS are needed to curb NIMBYism. Since the approval of Austin Street, FAS (which has since become Livable Newton) has continued to fight for accessible, affordable, diverse, integrated and environmentally responsible housing. Their efforts most recently led to approval of additional multifamily projects (with affordable components) in Newton, including the muchpublicized 800-unit Northland development in Newton Highlands.

Arthur Klipfel is one of the founding partners of Cambridge-based Oaktree Development.

Commercial Banking Supporting Boston and Beyond 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.

Rockland Trust understands the capital-intensive

nature of life science real estate investing and is a critical partner in enabling us to successfully execute our business plans in Greater Boston. – Daniel St. Clair, Managing Director of Spaulding & Slye Investments

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

For more information contact: Lisa Barry 781.982.6551 Lisa.Barry@RocklandTrust.com Member FDIC/Member DIF

ebsb.com/business

Member FDIC

Abington

9 Orange St, Abington.................................. $500,000 Use:Auto Repair (332) B: TBC LLC S: John F Bailey Tr, Tr for 9 Orange St RT Mtg: John F Bailey $500,000 Date: 02/27/20 Total Assessed Value (2019): $302,400 Lot Size: 17884sf

Adams

13 Victory St, Adams.....................................

$37,500

444 Washington St, Auburn........................ $2,750,000 Use:Retail-Department Store (322) B: E L Moxie LLC S: Papa Gallo LLC Mtg: Worcester Bus Dev Cor $1,139,000 Date: 02/25/20 Total Assessed Value (2020): $2,438,000 Lot Size: 119354sf Prior Sale: $500,000 (11/04)

Agawam

662 Springfield St, Agawam......................... $185,000 Use:Retail-Service (325) B: West Co Investments LLC S: Parlay Of MA LLC Mtg: Florence Bank $91,250 Date: 02/12/20 Total Assessed Value (2019): $194,800 Lot Size: 7650sf Prior Sale: $165,000 (07/06)

Avon Harrison Blvd, Avon.......................................

1260 Suffield St, Agawam............................ $415,000 Use:Manufacturing Building (400) B: Ameco-Jar LLC S: 1260 Suffield Inc Mtg: New Valley B & T $332,000 Date: 02/28/20 Total Assessed Value (2019): $301,600 Lot Size: 87120sf

$75,000

Use:Res Potentially Dvlpble Land (131) B: Joel Sadow Tr, Tr for Jels RT S: Barbara F Jablonski Tr, Tr for Barbara F Jablonski T Date: 02/18/20 Total Assessed Value (2019): $53,500 Lot Size: 25000sf

Bedford 4 Preston Ct, Bedford................................. $4,900,000

Amesbury

10 Congress St, Amesbury........................... $100,000 Use:County/Municipality Property (930) B: Wojcicki Holdings LLC S: Amesbury City Of Date: 03/02/20 Total Assessed Value (2020): $1,129,800 Lot Size: 22600sf

Use:Research & Dvlpmnt Facility (404) B: Preston Court LLC S: Bedford KV LLC Mtg: Enterprise Bk & Tr Co $3,675,000 Date: 02/27/20 Total Assessed Value (2019): $1,942,100 Lot Size: 60056sf Prior Sale: $2,950,000 (11/10)

Bellingham 429 Maple St, Bellingham........................... $1,000,000

Arlington

13-15 Belknap St, Arlington....................... $1,553,000 Use:Apartment Bldg - 4-8 Units (111) B: Fushuang Liu & Fan Zhang S: Leonardos Milas Tr, Tr for Mikanos RT Date: 03/02/20 Total Assessed Value (2020): $1,129,000 Lot Size: 7440sf

Use:Other Quarry (413) B: 429 Maple St Plant LLC S: 429 Maple Street LLC Date: 02/19/20 Total Assessed Value (2020): $920,200 Lot Size: 224552sf Prior Sale: $3,945,500 (12/09)

12 Mechanic St, Bellingham........................ $480,000

5 Forest St, Arlington.................................. $1,300,000 Use:Commercial Warehouse (316) B: Neil J Crowley LLC S: HAF Inc Mtg: Northmark Bank $1,170,000 Date: 03/02/20 Total Assessed Value (2020): $822,300 Lot Size: 12628sf

Use:Retail-Service (325) B: Bellingham Town Of S: Ralph E Moore Tr, Tr for 12 Mechanic Street RT Date: 02/28/20 Total Assessed Value (2020): $399,600 Lot Size: 9183sf

Belmont

Athol

352 Main St, Athol........................................ $260,000 Use:Mixed Use-Prim Res & Comm (013) B: Zunera Maish Property LLC S: Om Main Street Athol LLC Mtg: Webster First FCU $195,000 Date: 02/24/20 Total Assessed Value (2019): $213,800 Lot Size: 5400sf Prior Sale: $249,900 (01/19)

140 Park St U:8, Attleboro............................

43 Sword St, Auburn................................... $2,525,000 Use:Industrial Warehouse (401) B: Nomad Realty LLC S: Ram Construction LLC Mtg: Webster Bank $2,000,000 Date: 02/19/20 Total Assessed Value (2020): $1,386,800 Lot Size: 156816sf Prior Sale: $2,500,000 (10/19)

Use:Fraternal Organization (353) B: Intra Realty&Investments S: Winged Horsemen Realty Date: 02/20/20 Total Assessed Value (2020): $124,500 Lot Size: 8712sf

Attleboro

Auburn

687 Belmont St, Belmont............................. $750,000 Use:Retail-Service (325) B: 687 Belmont Street T LLC S: 687 Belmont Street Corp Mtg: John Giagosian $600,000 Date: 02/28/20 Total Assessed Value (2020): $558,000 Lot Size: 3680sf

Beverly 32 Dunham Rd, Beverly.............................. $3,000,000

$91,000

Use:Charity Property (950) B: DJC Chiropractic Inc S: New Hope Inc Date: 02/20/20 Total Assessed Value (2019): $143,700

Use:Commercial Warehouse (316) B: John E Coughlin Tr, Tr for Gateway 2 T 1997 S: Bagpipe Properties LLC Date: 02/28/20 Total Assessed Value (2020): $2,584,100 Lot Size: 261360sf Prior Sale: $1,350,000 (06/02)

151-1/2 Hale St, Beverly.............................. $248,078

126-132 N Washington St, Boston..............$11,500,000

Use:Restaurant/Bar (326) B: Diane J Modahl Tr, Tr for Modahl Hale Street T S: Wholemade LLC Date: 03/02/20 Total Assessed Value (2020): $182,500 Lot Size: 2938sf Prior Sale: $150,000 (04/13)

Use:Apartment Bldg - 4-8 Units (111) B: GPT Properties LLC S: N&P Associates LLC Date: 02/24/20 Total Assessed Value (2019): $3,734,500 Lot Size: 2160sf Prior Sale: $1,550,000 (08/04)

324 Rantoul St U:A, Beverly......................... $540,000 Use:Retail Condo (345) B: Anthony Barletta Jr S: Thomas A Barrowclough Mtg: Real Estate Prop Svcs $500,000 Date: 02/27/20 Total Assessed Value (2020): $341,400

Billerica

330 Boston Rd U:8, Billerica.........................

$55,000

Use:Office Condo Unit (343) B: PMZ Realty LLC S: J&G Property Management Date: 02/25/20 Total Assessed Value (2020): $46,900 Prior Sale: $45,000 (06/15)

572 Boston Rd U:10, Billerica.......................

Bourne

4 Barlows Landing Rd U:8, Bourne...............

$50,000

Use:Retail Condo (345) B: Joanne Barboza S: Steven R Zitta Date: 02/19/20 Total Assessed Value (2019): $126,100 Lot Size: 163786sf Prior Sale: $50,000 (03/16)

Braintree

276 Quincy Ave, Braintree........................... $250,000

$65,000

Use:Office Condo Unit (343) B: Gangyi Huang S: 572 Office Property LLC Date: 02/28/20 Total Assessed Value (2020): $35,000 Prior Sale: $180,000 (08/13)

15 Fortune Dr, Billerica.............................. $5,600,000 Use:Research & Dvlpmnt Facility (404) B: Bruker Corp S: Umbrina Assoc Date: 02/26/20 Total Assessed Value (2020): $4,781,300 Lot Size: 190793sf

44 Manning Rd, Billerica............................ $6,700,000 Use:Industrial Office Building (402) B: Bruker Corp S: Frank H Laukien Tr, Tr for 44 Manning Road RT Date: 02/26/20 Total Assessed Value (2020): $4,697,900 Lot Size: 235224sf

9 Sterling Rd, Billerica............................... $1,900,000 Use:Trucking Terminal (314) B: Jses Associates LLC S: 9 Sterling LLC Tr, Tr for Pemar RT Mtg: Salem FiveCts Svgs Bk $1,340,000 Date: 02/21/20 Total Assessed Value (2020): $932,900 Lot Size: 101059sf

Boston

109 Brookline Ave, Boston.........................270,000,000 Use:Commercial Use (397) B: CPS 109 Brookline LLC S: EQC Operating T Date: 02/18/20 Total Assessed Value (2019): $28,262,050 Lot Size: 29999sf

109 Brookline Ave, Boston.........................270,000,000 Use:Commercial Use (397) B: CSP 109 Brookline LLC S: EQC Operating T Date: 02/18/20 Total Assessed Value (2019): $28,262,050 Lot Size: 29999sf

8 Chestnut St, Boston................................. $3,850,000 Use:Other Exempt (990) B: CSLF Alamosa LLC S: 5 Wise LLC & CSLF Alamosa LLC Foreclosure Deed Date: 02/20/20 Total Assessed Value (2019): $2,741,100 Lot Size: 2967sf

Use:Parking Lot (337) B: TJ Perry LLC S: David W Feurtado Date: 02/18/20 Total Assessed Value (2020): $255,000 Lot Size: 9152sf Prior Sale: $150,000 (09/99)

Brighton

50 Englewood Ave, Brighton....................... $2,100,000 Use:Apartment Bldg - 4-8 Units (111) B: MP&GP Enterprises LLC S: Theodore George Est & Archie D Typadis Mtg: Village Bank $6,303,750 Date: 02/24/20 Total Assessed Value (2019): $1,447,500 Lot Size: 2549sf

14 Mount Hood Rd, Brighton....................... $1,925,000 Use:Apartment Bldg - 4-8 Units (111) B: Leovofs LLC S: Doracs Lai & Peter Yee Mtg: Workers Credit Union $1,443,750 Date: 02/18/20 Total Assessed Value (2019): $1,730,500 Lot Size: 3388sf

41 Strathmore Rd, Brighton....................... $1,950,000 Use:Apartment Bldg - 9 + Units (112) B: MP&GP Enterprisec LLC S: Theodore George Est & Archie D Typadis Mtg: Village Bank $1,571,250 Date: 02/27/20 Total Assessed Value (2019): $1,284,500 Lot Size: 4382sf

Brockton

628 Belmont St, Brockton........................... $565,000 Use:Retail-Service (325) B: 628 Belmont LLC S: A Talamas-Castelli Tr, Tr for Talamas RT Mtg: North Easton Svgs Bk $423,750 Date: 02/24/20 Total Assessed Value (2020): $390,800 Lot Size: 6190sf

675 Crescent St, Brockton...........................

$17,500

Use:Restaurant/Bar (326) B: BC Crescent LLC S: Daddy G Remainder LLC Date: 03/03/20 Total Assessed Value (2020): $481,900 Lot Size: 28554sf Prior Sale: $389,126 (08/01)

675 Crescent St, Brockton.......................... $432,500 Use:Restaurant/Bar (326) B: BC Crescent LLC S: Ginpop Property LLC Date: 03/03/20 Total Assessed Value (2020): $481,900 Lot Size: 28554sf Prior Sale: $389,126 (08/01)

1 Jonathan Dr, Brockton............................. $4,100,000

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.

Use:Manufacturing Building (400) B: GTR Realty LLC S: James E Craig Tr, Tr for R&T T Mtg: First Horizon Bank $7,363,500 Date: 02/24/20 Total Assessed Value (2020): $2,302,400 Lot Size: 124582sf

264 N Montello St, Brockton........................ $475,000 Use:Industrial Warehouse (401) B: Clinton Street LLC S: 264 Shamrock Realty LLC Mtg: Bridgewater Svgs Bk $356,000 Date: 02/14/20 Total Assessed Value (2020): $327,000 Lot Size: 18252sf

528 Pleasant St, Brockton........................... $575,000 Use:Office Bldg-General (340) B: 528 Pleasant Street LLC S: Michael J Murphy & Dale M Murphy Mtg: Norwood CooperativeBk $431,250 Date: 02/13/20 Total Assessed Value (2020): $535,200 Lot Size: 11556sf Prior Sale: $735,000 (08/05)

Burlington

77 S Bedford St, Burlington........................$35,000,000 Use:Office Bldg-General (340) B: NC RJK 77 South Bedford S: W RJK 77 S Bedford LLC Date: 02/12/20 Total Assessed Value (2019): $21,073,400 Lot Size: 285754sf Prior Sale: $30,000,000 (11/13)

77 S Bedford St, Burlington........................$14,183,522 Use:Office Bldg-General (340) B: NC RJK 77 South Bedford S: W RJK 77 S Bedford LLC Date: 02/12/20 Total Assessed Value (2019): $21,073,400 Lot Size: 285754sf Prior Sale: $30,000,000 (11/13)

MARCH 30, 2020

Cambridge

Dedham

Edgartown

100 River St, Cambridge............................. $1,300,000

4 Pearl St, Dedham...................................... $908,500

20 Peases Point Way N U:7, Edgartown...... $139,000

Use:Mixed Use-Prim Res & Comm (013) B: SYNH LLC S: Rogera C Toussaint Tr, Tr for Muriel FT Date: 02/20/20 Total Assessed Value (2019): $1,037,100 Lot Size: 1289sf

Use:Office Bldg-General (340) B: Stil Pearl LLC S: 4 Pearl Street LLC Mtg: East Boston Svgs Bk $440,000 Date: 02/21/20 Total Assessed Value (2020): $911,300 Lot Size: 12067sf Prior Sale: $159,564 (01/15)

Use:Condominium/Motel (348) B: Janisco Properties LLC S: John H Mezzetti Tr, Tr for Vixen RT Mtg: Martha Vineyard SB $104,000 Date: 02/28/20 Total Assessed Value (2019): $134,900 Lot Size: 1sf

Use:Industrial Devlpble Land (440) B: NLCP 164 Grove Street MA S: Pharmacannis Mass Inc Date: 02/28/20 Total Assessed Value (2020): $360,100 Lot Size: 65340sf Prior Sale: $450,000 (09/18)

Gardner

Deerfield

Fall River

30 Bell Rock Rd, Fall River.......................... $286,000 Use:Res Potentially Dvlpble Land (131) B: Justin Kilby S: Stephen L Holbrook Date: 03/03/20 Total Assessed Value (2019): $155,200 Lot Size: 96703sf Prior Sale: $150,000 (01/07)

Use:Apartment Bldg - 4-8 Units (111) B: Scott Mangino S: Eldamar Properties LLC Mtg: Jeanne DArc CU $235,000 Date: 02/13/20 Total Assessed Value (2020): $271,000 Lot Size: 6900sf Prior Sale: $71,500 (04/13)

Charlemont 1463 Route 2 E, Charlemont.........................

$76,000

Use:Mixed Use-Prim Comm & Resd (031) B: Olde Willow Inn LLC S: Robert Hartwig & Webster Five Cents SB Foreclosure Deed Date: 02/12/20 Total Assessed Value (2019): $384,400 Lot Size: 135907sf

222 Greenfield Rd U:222, Deerfield............. $575,000 Use:Retail Condo (345) B: Starpile LLC S: RMJ LLC Mtg: Greenfield Svgs $287,500 Date: 02/20/20 Total Assessed Value (2020): $638,400

Charlton

209 Brightman St, Fall River....................... $255,000

Dresser Hill Rd, Charlton............................. $132,500

Dennis

Use:Res Potentially Dvlpble Land (131) B: Mark J Foskett & Erica M Foskett S: Warren R Brown & Diane M Brown Date: 02/14/20 Total Assessed Value (2019): $125,900 Lot Size: 842450sf Prior Sale: $75,000 (04/01)

177 Lower County Rd U:2, Dennis.............. $1,250,000 Use:Condominium/Motel (348) B: Lighthouse Living Dennis S: Dennis James LLC Date: 03/02/20 Total Assessed Value (2020): $68,500

Mcintyre Rd Lot:3, Charlton..........................

Dorchester

$40,000

Use:Res Potentially Dvlpble Land (131) B: Lisa Gingras S: Henry J Camosse Jr Tr, Tr for Tiny House RT Date: 02/28/20 Total Assessed Value (2019): $272,200 Lot Size: 2966436sf Prior Sale: $5,000 (05/19)

35 Bradshaw St, Dorchester....................... $1,100,000 Use:Apartment Bldg - 4-8 Units (111) B: Bradshaw Street Dev LLC S: Ricochet Real Estate LLC Mtg: Stoneham Cp Bk $715,000 Date: 02/18/20 Total Assessed Value (2019): $260,700 Lot Size: 8990sf

Chatham

863-863B Dorchester Ave, Dorchester...... $1,210,000

276 Commerce Park N, Chatham................ $450,000 Use:Mixed Use-Prim Comm & Resd (031) B: Off Vineyard Lane LLC S: Jason C Alten & David F Alten Mtg: Cape Cod Five Cent Bk $337,500 Date: 02/13/20 Total Assessed Value (2020): $449,900 Lot Size: 10070sf Prior Sale: $118,000 (06/03)

37 Nobodys Rd, Cheshire...............................

93 Davis St, Douglas.................................... $250,000 $5,834

Use:Commercial Warehouse (316) B: George H Tremblay Jr S: Anthony P Doyle Date: 02/28/20 Total Assessed Value (2020): $452,500 Lot Size: 149585sf Prior Sale: $25,000 (07/05) Use:Mixed Use-Prim Comm & Resd (031) B: Timeless Collections LLC S: Sling LLC Mtg: Sling LLC $379,900 Date: 03/03/20 Total Assessed Value (2020): $254,500 Lot Size: 143748sf Prior Sale: $285,000 (12/16)

485 Merrimack Ave, Dracut......................... $450,000 Use:Commercial Devlpble Land (390) B: Maddalena Dracut Realty S: Paul Borriello Tr, Tr for MVS RT Mtg: Paul Borriello $800,000 Date: 03/02/20 Total Assessed Value (2019): $13,600 Lot Size: 2340sf Prior Sale: $350,000 (04/98)

East Boston

Chicopee 220 Exchange St, Chicopee......................... $430,000 Use:Mixed Use-Prim Res & Comm (013) B: Binita M Patel Tr, Tr for Shiva RT S: Emery Street LLC Mtg: Westfield Bank $360,000 Date: 02/27/20 Total Assessed Value (2020): $464,100 Lot Size: 3253sf

101 Front St, Chicopee................................ $180,000 Use:Manufacturing Building (400) B: 101 Front Street NT S: Audrey G Mascaro Mtg: Polish National CU $144,000 Date: 02/14/20 Total Assessed Value (2020): $70,800 Lot Size: 17821sf

1020-1022 Bennington St, East Boston...... $1,465,000 Use:Mixed Use-Prim Res & Comm (013) B: JB Capital LLC S: EB Ventures LLC Mtg: Inst Svgs Newburyport $1,248,750 Date: 02/28/20 Total Assessed Value (2019): $638,000 Lot Size: 2700sf Prior Sale: $760,000 (05/15)

Eastham 3 Main St U:20, Eastham...............................

2012 Memorial Dr, Chicopee...................... $1,407,116 Use:Gas/Service Station (334) B: Western MA EEN LLC S: CH Realty 7 CG Mact Bird Date: 02/13/20 Total Assessed Value (2020): $648,400 Lot Size: 35637sf Prior Sale: $44,668,949 (10/16)

$77,500

Use:Non-residential Condo (349) B: Jeffrey E Cusack & Jennifer F Cusack S: Alexander C Jamoulis Tr, Tr for Emerald NT Date: 02/24/20 Total Assessed Value (2019): $65,900 Prior Sale: $70,000 (08/18)

Use:Apartment Bldg - 4-8 Units (111) B: Christopher Thompson & Michelle Thompson S: Bixby Thomas P Est & Keith T Bixby Mtg: Greenfield Svgs $160,000 Date: 02/27/20 Total Assessed Value (2020): $286,000 Lot Size: 4350sf

35 Lovefield St, Easthampton...................... $210,000

Clinton 156 Church St, Clinton................................. $215,000 Use:Office Bldg-General (340) B: 156 Church LLC S: CA Massachusetts Holdings Date: 02/14/20 Total Assessed Value (2020): $489,300 Lot Size: 5330sf Prior Sale: $570,000 (02/15)

Use:Industrial Warehouse (401) B: Jayohm Inc S: D&H Property Management Date: 02/28/20 Total Assessed Value (2020): $148,300 Lot Size: 20038sf Prior Sale: $140,000 (09/06)

Easton 2 Center St, Easton...................................... $400,000

$50,000

Use:Commercial Devlpble Land (390) B: Thomas W Ryan S: American Cablesystems NE Date: 02/26/20 Total Assessed Value (2020): $87,800 Lot Size: 12000sf

Use:Office Bldg-General (340) B: Anthony F Pires & Elizabeth M Kenney S: Richard P Connolly Tr, Tr for Garrett RT Mtg: North Easton Svgs Bk $300,000 Date: 02/13/20 Total Assessed Value (2020): $293,700 Lot Size: 6534sf

10 Plymouth Dr, Easton................................

Cohasset 62 Black Rock Rd, Cohasset....................... $510,000

$15,477

Use:Manufacturing Building (400) B: James H Fine Tr, Tr for Kasef RT S: Easton Town Of Date: 02/12/20 Total Assessed Value (2020): $833,500 Lot Size: 56192sf

26 Poquanticut Ave, Easton......................... $235,100 Use:Housing Authority Property (970) B: Easton Affordable Hsng T S: Easton Housing Authority Date: 02/13/20 Total Assessed Value (2020): $309,100 Lot Size: 35100sf

50 Baker St, Gardner................................... $350,000

31 Branch St, Gardner................................. $100,000 Use:Apartment Bldg - 4-8 Units (111) B: Tom Lan S: Moore&Hancock Inc Date: 02/28/20 Total Assessed Value (2020): $197,900 Lot Size: 33000sf Prior Sale: $90,000 (11/08)

174 Hall St, Fall River.................................. $900,000

562 Main St, Gardner................................... $755,000

Use:Apartment Bldg - 9 + Units (112) B: Petronelli Realty LLC S: Sequoia Holdings LLC Mtg: BayCoast Bank $1,230,000 Date: 02/21/20 Total Assessed Value (2019): $424,400 Lot Size: 6910sf Prior Sale: $470,000 (10/18)

Use:Retail-Department Store (322) B: Iraj LLC S: Bruce J Rome Tr, Tr for A&J RT Mtg: Inst Svgs Newburyport $566,250 Date: 02/13/20 Total Assessed Value (2020): $454,400 Lot Size: 36285sf

111 Oak Grove Ave, Fall River......................

Gloucester

183 Washington St, Gloucester................... $255,000

$85,000

Use:Auto Sales (330) B: Myles Brilhante & Gregory Brilhante S: Ana Amaral Mtg: Fall River Five Cents $126,000 Date: 02/14/20 Total Assessed Value (2019): $144,800 Lot Size: 7531sf Prior Sale: $147,000 (10/03)

203 Pitman St, Fall River............................. $350,000 Use:Apartment Bldg - 4-8 Units (111) B: 203 Pitman Street LLC S: Silvino F Pereira Mtg: Summit Capital Mgmt L $252,000 Date: 02/26/20 Total Assessed Value (2019): $198,600 Lot Size: 4637sf Prior Sale: $263,000 (02/08)

1801 S Main St, Fall River........................... $240,000 Use:Mixed Use-Prim Res & Comm (013) B: DBLA LLC S: Garant LP Date: 03/02/20 Total Assessed Value (2019): $314,900 Lot Size: 3248sf

415 Stafford Rd, Fall River.......................... $180,000 Use:Mixed Use-Prim Comm & Resd (031) B: Walter Nguyen S: John K Choe Date: 02/13/20 Total Assessed Value (2019): $283,500 Lot Size: 4040sf

Falmouth

205 Worcester Ct U:8A, Falmouth................

$60,000

Use:Office Condo Unit (343) B: Michael P Clark Tr, Tr for Dinkins Bay RET S: James T Kowalski Tr, Tr for Skidoud RT Date: 03/03/20 Total Assessed Value (2019): $95,200 Lot Size: 43560sf

205 Worcester Ct U:8B, Falmouth............... $225,000 Use:Office Condo Unit (343) B: Michael P Clark Tr, Tr for Dinkins Bay RET S: Kevin E Murphy Tr, Tr for Doudican&Murphy RT Date: 02/20/20 Total Assessed Value (2019): $204,800 Lot Size: 43560sf

162 Daniels St, Fitchburg............................ $217,000

5-7 Liberty St, Easthampton........................ $200,000

Use:Apartment Bldg - 9 + Units (112) B: Dulong Holdings LLC S: Lavallee Group Inc Mtg: Polish National CU $520,000 Date: 02/24/20 Total Assessed Value (2020): $456,200 Lot Size: 5000sf Prior Sale: $459,000 (08/17)

Use:Mixed Use-Prim Res & Comm (013) B: Bignia Pierre S: South Coast Capital Invst Mtg: Residential Mtg Svcs $234,600 Date: 03/02/20 Total Assessed Value (2019): $223,730 Lot Size: 5393sf Prior Sale: $255,000 (09/17)

Fitchburg

Easthampton

94 Prospect St, Chicopee............................ $650,000

Use:Res Potentially Dvlpble Land (131) B: John H Greenip & Laurie L Greenip S: Carol S Parks Date: 02/28/20 Total Assessed Value (2020): $598,500 Lot Size: 50965sf Prior Sale: $552,800 (11/18)

Use:Commercial Devlpble Land (390) B: Sabhan Z Kosto Tr, Tr for 93 Davis RT S: Guaranteed Builders&Dev Date: 03/03/20 Total Assessed Value (2020): $130,100 Lot Size: 90866sf

Dracut

750-760 S State Rd, Cheshire..................... $394,900

26 Williams St, Clinton..................................

Use:Mixed Use-Prim Res & Comm (013) B: S&H 863 Dorchester Realty S: Amy Wong Tr, Tr for K&A RT Mtg: Leader Bank NA $907,500 Date: 02/24/20 Total Assessed Value (2019): $478,500 Lot Size: 1718sf Prior Sale: $475,000 (08/03)

Douglas

Cheshire

164 Grove St, Franklin................................. $500,000

Use:Mixed Use-Prim Res & Comm (013) B: Rose Vanie Casimir S: Louis L Martineau & Patricia A Martineau Mtg: United Wholesale Mtg $213,069 Date: 02/18/20 Total Assessed Value (2020): $213,800 Lot Size: 5156sf

187-189 Summer St, Fitchburg................... $175,000 Use:Apartment Bldg - 4-8 Units (111) B: Holly Kartanos-Garcia S: William D Kao Tr, Tr for Thomas T Kao RT Mtg: Workers Credit Union $131,250 Date: 02/28/20 Total Assessed Value (2020): $208,000 Lot Size: 8312sf

Franklin

Use:Mixed Use-Prim Res & Comm (013) B: Ravi Kumar & Savita Kumari S: Carol V Figurido & Stephen B Figurido Mtg: BankGloucester $524,000 Date: 02/26/20 Total Assessed Value (2019): $292,300 Lot Size: 6304sf

Grafton

3 Centennial Dr, Grafton............................. $7,125,000 Use:Research & Dvlpmnt Facility (404) B: Idexx Distribution Inc S: 3 Centennial Drive LLC Date: 02/26/20 Total Assessed Value (2020): $3,857,100 Lot Size: 206910sf Prior Sale: $4,100,000 (11/13)

Granville

Silver St (rear), Granville..............................

$42,617

Use:Farm Building (317) B: Scott D Loomis & Erin E Loomis S: Thomas M Monteith Date: 02/28/20 Total Assessed Value (2020): $79,700 Lot Size: 41382sf

Great Barrington

924 Main St, Great Barrington..................... $642,000 Use:Mixed Use-Prim Comm & Resd (031) B: Pediatric Development Ctr S: Llama House LLC Mtg: Greylock FCU $513,600 Date: 02/12/20 Total Assessed Value (2019): $663,700 Lot Size: 43560sf Prior Sale: $635,000 (07/18)

140 West Ave, Great Barrington.................. $400,000 Use:Office Bldg-Medical (342) B: West Avenue LLC S: 140 West Avenue LLC Mtg: Salisbury Bk & Tr $275,250 Date: 02/28/20 Total Assessed Value (2019): $391,500 Lot Size: 272250sf Prior Sale: $165,000 (06/16)

Groton

159-161 Main St, Groton.............................. $500,000 Use:Retail-Service (325) B: JLFA Properties LLC S: George L Moison Co Inc Mtg: Main Street Bank (MA) $257,500 Date: 02/20/20 Total Assessed Value (2019): $459,400 Lot Size: 4356sf

Hadley

229 Russell St, Hadley................................. $255,000 Use:Mixed Use-Prim Res & Comm (013) B: Jamyang Jamyang & Thinlay Norzin-Jamyang S: Megan 229 Russell LLC Mtg: Greenfield Cp Bk $150,000 Date: 02/19/20 Total Assessed Value (2019): $262,200 Lot Size: 43504sf Prior Sale: $218,000 (05/12)

290 Beaver St, Franklin.............................. $9,000,000

Harvard

Use:Industrial Warehouse (401) B: A6 Beaver LLC S: 290 Beaver Street LLC Mtg: Boston Private Bank $6,780,000 Date: 02/25/20 Total Assessed Value (2020): $4,916,800 Lot Size: 306924sf Prior Sale: $3,750,000 (01/01)

105 Ayer Rd, Harvard................................... $352,000 Use:Mixed Use-Prim Res & Comm (013) B: Stephen Dodge Tr, Tr for 105 Ayer Rd RT S: Gail M Potter Tr, Tr for 105 Ayer Road RT Mtg: Enid N Seideman $252,000 Date: 03/02/20 Total Assessed Value (2020): $288,800 Lot Size: 29185sf

116 Brookview Rd U:116, Franklin.............. $570,480

Harwich

Use:Other Exempt (990) B: Keith E Rossback S: Brendon Properties Brkvw Date: 02/21/20

118 Brookview Rd U:118, Franklin.............. $571,900 Use:Other Exempt (990) B: Raghunandan Sridhar & Sweta Pudipeddi S: Brendon Properties Brkvw Mtg: Mortgage Networks Inc $543,305 Date: 02/28/20

5 Flintlocke Rd, Franklin............................. $360,500 Use:Mixed Use-Prim Res & Comm (013) B: Mina A Gaber S: FNMA Date: 02/18/20 Total Assessed Value (2020): $461,900 Lot Size: 24381sf Prior Sale: $437,200 (01/19)

888 Route 28, Harwich............................... $1,525,000 Use:Motel (301) B: DZ Hospitality LLC S: Rambhai AJ LLC Date: 02/14/20 Total Assessed Value (2019): $866,000 Lot Size: 91040sf Prior Sale: $110,000 (04/09)

Haverhill

7 Edith St, Haverhill..................................... $352,000 Use:Mixed Use-Prim Res & Comm (013) B: Pierrette Cimea-Revangil & Judson R Revengil S: Georgianna R Terranova & Robert J Terranova Mtg: Salem Five Mtg Co $345,624 Date: 02/28/20 Total Assessed Value (2020): $335,500 Lot Size: 10001sf Prior Sale: $229,900 (09/00)