Newman Properties Divests East Boston Multifamily via Horvath&Tremblay for $1.44M

BOSTON — Newman Properties and East Boston Management & Development recently sold 116 Brooks Street in East Boston. The three-story multifamily building features six total units, including four studios and 2 one-bedroom / one-bathroom apartments. The property offers 2,872 square feet of living space, within 3,784 square feet of gross area, and sits on a 0.02-acre corner parcel. Originally acquired by Newman Properties in 2014, 116 Brooks Street has been meticulously maintained by in-house management for more than a decade.

Ideally located in East Boston’s desirable Eagle Hill neighborhood, the property benefits from excellent access to both local and regional transportation, as well as close proximity to Boston Logan International Airport. It is situated near Central Square, one of East Boston’s primary commercial hubs, offering convenient access to retail, dining, entertainment, and public transportation. The property is approximately 0.4 miles from the Airport Station and 0.8 miles from Maverick Station, both providing MBTA Blue Line service with connections to multiple bus routes.

Through a release, Newman Properties complimented the work of the multifamily veteran broker, John Pentore of Horvath & Tremblay, and attorneys, Jessica Heywood of Dwyer Goncalves, for their expertise, guidance, and outstanding support throughout this process.

Newman Properties and its affiliates own and manage over 750 residential units as well as numerous commercial and retail properties. The company has bought and sold over $500 million worth of property in the areas surrounding Boston, the South Shore, and the North Shore. Currently, the company has projects in the pipeline that include condo conversions, renovations, and add-value projects, as well as buy-and-hold projects.