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Brecht Palombo is an accomplished real estate investment sales broker and auctioneer who is licensed throughout New England. Brecht has been the lead on a number of large Boston area auction transactions and has sold numerous residential developments and multifamily properties. Additionally Brecht is also CCIM candidate and represents Tranzon Auction Properties thoughout Southern New England.

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Multifamily Bidding War Follow Up

November 27th, 2007 • Related • Filed Under

A couple of people have asked me about what happened with that 38 Unit property that I wrote about back in October. This was the one where there was a 12+ offer bidding war after it was on the market for about 7 days. The property was listed at $2.8M we came in at $2.825, no funny contingencies, we were told we were beat by a large margin with a cash offer.

Let me tell you that the property was listed at low 7 cap and all the units were either 1-beds or studios. There is still a ton of money out there chasing down the good income properties.

The abovementioned property is supposed to close on 12/11. I’ll post it’s final close when I see it.

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