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Griffith and Pepdjonovic of Marcus & Millichap Arrange $3,670,000 Multifamily Sale in Quincy, MA

October 18, 2021

Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of 565-585 Sea Street, a 17-unit apartment property located in Quincy, MA, according to Thomas Shihadeh, regional manager of the firm’s Boston office. The asset sold for $3,670,000.

Evan Griffith, First Vice President Investments and Tony Pepdjonovic, First Vice President Investments, in Marcus & Millichap’s Boston office, had the exclusive listing to market the property on behalf of the seller and secured the buyer. 565-585 Sea Street is located in the Adams Shore/Hough’s Neck area of Quincy which is convenient to Quincy Center, Wollaston Beach, Marina Bay, and Interstate-93. The property was fully occupied at the time of sale and comprised of nine one-bedroom and eight two-bedroom apartments. The asset was well-maintained by the seller and provided a clear road map to increasing monthly rental income through programmatic apartment renovations. The duo has sold four buildings in Quincy in the last few months and are excited to launch their newest 18-unit assignment in the city next week.

 

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About Marcus & Millichap (NYSE: MMI)

With over 2,000 investment sales and financing professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research and advisory services. Founded in 1971, the firm closed 8,954 transactions in 2020 with a value of approximately $43 billion. Marcus & Millichap has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors. To learn more, please visit: www.MarcusMillichap.com.

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