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Lending Pace Brisk for JP Morgan Chase In Greater Boston

October 03, 2014

CAMBRIDGE — JPMorgan Chase Bank continues to serve a diverse CRE constituency regionally entering the final quarter of 2014, with a triumvirate of early September deals helping to wrap up a busy summer. The three latest loans include a $1,825,000 refinancing of 120-122 Columbia St. in Cambridge (pictured) and separate acquisition mortgages for a Melrose apartment building and on an industrial property in southeastern Massachusetts.

The Cambridge note was secured by Christopher M. Shachoy, a local investor active in metropolitan Boston and owner of the six-unit, 5,675-sf apartment building since paying $1,210,000 in Aug. 2011 under his CMS Columbia Nominee TR. The three-story structure built in 1920 sits on a 2,900- sf parcel between Kendall Square and Central Square, among the most thickly settled areas in New England.

Just to the north in Melrose, another $1,100,000 from JPMorgan Chase went to Butler Realty Holdings, financing that enabled the $1,480,000 purchase of 36 Warren St., a nine-unit property. Butler Realty’s principals include Jill P. Butler, Joseph C. Butler and Joseph J. Butler. Gerard McSweeney sold the 44-year-old property, an 8,000-sf building that had been under the same ownership since its $228,000 exchange in Nov. 1979.

On the suburban front, $1,225,000 was borrowed from JPMorgan Chase by Lindsay Tillis and Robert Tillis to facilitate their $1,725,000 purchase of 64 York Ave. in Randolph. The sellers are Barry Goldman, James Goldman and Richard Goldman, who had heretofore operated the Goldman Paper Co. from the 33,050-sf structure that last changed hands in 1980, the same year it was constructed on 1.9 acres positioned just west of Route 24 near the merger at I-93/Route one. The buying vehicle formed to buy that building was 64 York Ave LLC.

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