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Friday, April 30, 2010

Anyone have $300,000?

Zee Mah has sent the listing. 9,000 sq ft. 5 floors. Mixed use. Needs complete rehab thus the bargain price. Imagine with me for a moment a day when we have a beautiful card/paper/office supply/copy shop on the first floor, 1 or 2 floors of office space with residential on floors 4 and/or 5. Hell..... throw on a roof deck and you have the best building in all of Downtown Lynn.

I'm trying to find out what the price tag is on the repairs needed. The building says it's in need of a full rehab and is being sold as-is. Anyone have any idea of the ballpark for rehabs of this kind?

-Corey

3 comments:

  1. It would help if potential buyers could more accurately guestimate the real cost with renovation. It would also be nice if potential buyers/tenants who may want to occupy the new spaces, jump on board at the beginning of the building's purchase and renovation process, ensuring it'll be occupied and financially viable.

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  2. well he bought it for 465k according to a quick record search in 2004?? and its in his name?(not an LLC)

    he's in the red which would explain why it looks the way it does. maybe he had plans but with the market tanking they tanked too.
    hopefully he can sell it and get it into the hands of someone. it'll be hard in this market.

    looks like the building has nice guts...the nice thing about lofts is you can gut the building then put them up very cost effectively...maybe someone will do that but i think that shipped sailed a while ago--maybe raw arts can expand??
    in any case hopefully someone does something with it. 300k is a decent price---for all the space...

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  3. would have been nicest if the VNA would have moved into that building...parking lots galore right behind there...

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