Vol.41, No.22
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W E E K O F M O N D A Y, J U N E 1 0 , 2 0 1 9
THE REGISTRY REVIEW NEW HAMPSHIRE’S STATEWIDE REAL ESTATE & FINANCIAL NEWSPAPER A Publication of The Warren Group
WEEKLY SALES OF NOTE
HIGH-END HOUSING
Manchester
1 WATERFORD WAY . . . . . . . . . . . . . . . . . . . . . . . . . $66,270,000 B: Waterford Place Hldg LLC S: SMC Waterford Place Apts
Somersworth
300 HIGH ST. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $6,266,666 B: Fuller Real Estate Hldg S: Decoste Inc Mtg: Emerald Capital LLC $169,000 Use: 3 Bdrm Old Style, Lot: 13469sf
Hampton
Luxury Living Comes to Manchester, Minus the Doggie Spas Recent Deals, New Projects Respond to Demand from Young, Empty Nesters BY JAY FITZGERALD SPECIAL TO THE REGISTRY REVIEW
315 OCEAN BLVD . . . . . . . . . . . . . . . . . . . . . . . . . . . . $1,453,533 B: Ocean House Oceanfront S: Kentville On The Ocean Mtg: North Shore Bank $11,780,000 Use: Motel, Lot: 5663sf OCEAN BLVD. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $1,396,533 B: Ocean House Oceanfront S: Captain Mortgage Inn Inc
Portsmouth
SOUTH ST . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $1,345,000 B: Nicole S Lambert & Robert Lambert Jr S: Arthur L Mcmanus & Deborah C Mcmnaus
Manchester
246 MAIN ST. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $1,100,000 B: 246 Main St LLC S: Adams Hldg LLC Mtg: Primary Bank $916,800 Use: Apartment Bldg - 9 + Units, Lot: 5000sf
North Hampton
33 VIANO ISLAND. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $995,000 B: Jennifer StClair-Waddell & Matthew K Waddell S: Michael C Derrey
Rollinsford
658 SILVER ST. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $980,000 B: Lorax Sustainable Dev LLC S: Terry M Bennett & Melanie Piper-Allison Mtg: Terry M Bennett $930,000 Use: 1-Family, Lot: 479334sf
Portsmouth
99 ORCHARD ST. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $835,000 B: Heather M Savage-Erickson & Daivd R Erickson S: Timothy Mcnamara & Mary E Mcnamara Mtg: Mortgage Networks Inc $485,000 Use: 2 Bdrm Conventional, Lot: 5175sf
Portsmouth
579 SAGAMORE AVE U:19 . . . . . . . . . . . . . . . . . . . . . . . $830,000 B: Timothy A Mcnamara & Mary E Mcnamara S: Keper Connell Tr, Tr for Marianne Pernold RET Mtg: UBS Bank USA $485,000 Use: 3 Bdrm Condo
M
anchester residents may not define “luxury living” the same way they do in Boston and New York, where some swanky apartment and condominium complexes now offer tenants in-house chefs and catered dinners, chauffeured limos, child-care services, heated indoor pools, bocce ball courts and even pet spas. Still, higher-end living has most definitely arrived in Manchester, albeit in a more restrained, Yankee way both in terms of style and costs. The recent sale of 875 Elm St. for an eyepopping $39 million and the opening of the new Pearson’s Place in downtown Manchester have only driven home the point: This is not the Manchester of your mill-working, bluecollar grandparents of yesteryear. Downtown Manchester is quickly filling up with largely young professionals, and more than a few empty nesters, drawn to the area by tech, health and financial services jobs and new restaurants, shops and other “live, work, play” amenities that have become popular in urban settings across the country. And those workers are finding housing in hundreds of units in recently converted mills and redeveloped commercial blocks, such as the 91 units at 875 Elm St. (in the iconic 10-story “Citizens Bank building”) and the “modishly designed” 30 units in Pearson’s
$300,000 300000
INDEX
$280,000 280000
TRANSACTIONS THRU
3 Belknap ���������������������������� 05/28/19 3 Carroll ���������������������������� 05/28/19 4 Cheshire ������������������������ 05/28/19 4 Coos �������������������������������� 05/28/19 5 Grafton ���������������������������� 05/28/19 6 Hillsborough ������������������ 05/28/19 7 Merrimack ���������������������� 05/28/19 9 Rockingham ������������������ 05/28/19 9 Strafford ������������������������ 05/28/19 10 Sullivan �������������������������� 05/28/19 10 Bankruptcies 11 Lien & Attachments 11 Foreclosure, Mortgagee & Other Lien Auctions 11 Requests for Bids & Proposals
Sullivan makes no bones about it: His target market is “six-figure” young professionals who enjoy living in downtown settings, particularly converted historic buildings, such as Brady Sullivan’s Lofts at Mill Number One (110 units) and Lofts at Mill West (300 units), both located in Manchester’s Millyards district. In other cities, urban lofts are not always considered “luxury” living, but when they’re 900- to 2,000-square-foot lofts, like some are in Manchester, that’s about as close as one
$260,000 260000 $240,000 240000 $220,000 220000
Apr. May May June June July July Aug. Aug. Sept. Sept. Oct. Oct. Nov. Nov. Dec. Dec. Jan. Jan. Feb. Feb. Mar. Mar. Apr. Apr. Apr. ’18
’19
Number 300000 of Sales $300,000 240000 $240,000
Year
Median Price
Change Prior Year
180000 $180,000
Apr. 2015
$221,267
10.63%
120000 $120,000
Apr. 2016
$234,000
5.8%
60000 $60,000
Apr. 2017
$245,000
4.70%
Apr. 2018
$265,400
8.33%
Apr. 2019
$275,167
3.68%
$00
Apr.
Apr. ’15
Apr.
Apr. ’16
Apr.
Apr. ’17
Apr.
Apr.
Apr. ’18
Apr.
Apr. ’19
Continued on Page 12
TO OUR READERS
T
Single-Family Median Sales Price
282 ROCKLAND ST. . . . . . . . . . . . . . . . . . . . . . . . . . . . . $785,000 B: D Mikhaylovich-Dragilev & Corey Mcaveeney S: Gary J Galovic Mtg: Draper and Kramer Mtg $667,250 Use: 5 Bdrm Conventional, Lot: 5000sf
REAL ESTATE RECORDS
Place at 922 Elm St. next to the city’s venerable Pearson’s Jewelry store. More downtown residences are on the way, including a mixedused project now under development by Red Oak Apartment Homes on Elm Street just south of the city’s civic arena. “It used to be that people didn’t want to live downtown,” said Arthur Sullivan, cofounder of Brady Sullivan Properties, which itself has recently converted two former downtown mills into “luxury lofts” for mostly young professionals. “Today, people want to be where there’s activities, shops, restaurants, offices.”
NEW HAMPSHIRE MARKET STATISTICS
Portsmouth
PG COUNTY
From converted mill buildings to new construction, downtown Manchester is attracting new residents willing to pay $2,000 and more per month for high-end apartments.
q Statistics based on single-family home sales of $1,000 q Source: The Warren Group
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