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June 5, 2018 | Boston Real Estate Times

Newman Properties Buys Townhouse Community in Whitman for $7 Million

Whitman, MAColeross James LLC, an entity of Newman Properties, purchased William Waye, a townhouse community, located at 855 Temple Street in Whitman. The purchase price was $7,000,000 and financing was provided by Norwood Bank. The property was purchased directly from Etta Properties LLC, in an off-market transaction.

Matthew Newman, principal and owner of Newman Properties, explains why the company decided to purchase the property, “Whitman is a great town, and this was an opportunity to buy 24 brand-new, high-quality construction townhouses. The location is ideal as it is only a 30 minute commuter train ride into South Station. Our company has been looking to increase our South Shore presence, and this property is a perfect fit.  We are continuing our search for additional apartment rental communities and properties from Quincy to Hyannis along the South Shore.”

William Waye is located just outside the center of Whitman, directly off of Route 27. The property is easily accessible to Route 18 and Route 123. Local schools are just a few miles away, including: Louise A Conley, Whitman Middle and Whitman Hanson Regional. Public transportation is accessible via Whitman’s MBTA commuter rail stop, which is less than three miles away.

The property features 24 newly constructed townhouses. The townhouses were constructed between 2014 – 2016 and are approximately 1300 square feet in size. Each townhouse has three bedrooms, one full-bathroom, and one half-bathroom. They come equipped with stainless steel appliances, granite countertops, hardwood floors, central AC, and laundry hook-ups. All townhouses provide tenants with off-street parking, full basements and deck patios.

With a distinguished portfolio of residential and commercial properties, Newman Properties owns and manages over 500 residential units as well as numerous office and retail properties. The company has bought and sold over $250 million dollars worth of property in the areas surrounding Boston and Massachusetts’ South Shore. Currently the company has projects in the pipeline that include condo conversions, renovation and add-value projects, as well as buy and hold projects. In addition, the company is currently overseeing multiple developments, including ground-up construction projects, and is seeking new acquisitions.

 

Posted by: Newman Properties on June 5, 2018
Posted in: Uncategorized