Newman Properties, founded by Matthew Newman, began in 1987. As a senior at Boston University, Mr. Newman formed a publishing company. This company created monthly publications for real estate sales, apartment rentals, and roommate seeking. These publications flourished and he began relationships with the real estate agents and brokers in the Route-128 belt as well as mortgage brokers, bankers, real estate lawyers, home inspectors, and developers.
In the early 1990s, Mr. Newman formed "zerofeeapts.com" and purchased "Matching Roommates," the oldest roommate referral company in the country. He opened offices in Brookline, Harvard Square, and Newbury Street. At the same time, the publishing company expanded with an arts and entertainment publication and two in-house publications for large companies in Connecticut.
This set the stage for real estate acquisitions that began in the mid 1990s.
This set the stage for real estate acquisitions beginning in the mid 1990s. With the funds the company produced and its real estate connections through publications, Newman Properties started with small multi-family properties and condominiums. At first the concept was to find good deals, purchase, renovate, and rent them. By 2000, the portfolio began to come together and the publishing company and roommate company were sold. At this time, the real estate management and development shifted into high gear.
Commercial properties were purchased, condominium projects were purchased, renovated and converted and the individual units sold off. Three families in Brookline and Brighton were converted as well as an 18 unit set of buildings in Jamaica Plain. During these years the real estate market continued to grow and accelerate while Newman Properties continued with acquisitions via 1031 tax exchanges and from profits from condo conversions.
Today, Newman Properties manages its own portfolio of properties.
Today Newman Properties manages its portfolio of properties. Mr. Newman still is a partner in the two Prudential Unlimited Real Estate offices. We are highly motivated to grow and are mainly focused on the purchase and acquisition of residential multifamily properties for mid to long term holding periods. We are casting a cautious eye toward future condominium conversions and are always on the lookout for a new project. We spend a considerable amount of our energy in the analysis and refinancing of our properties as well as upgrading, renovating and construction projects at our current properties.
We are highly motivated to grow and are mainly focused on the purchase and acquisition of residential multi-family properties for mid to long-term holding periods.