Sold for $11.5 million. Here's what the new owner has planned.
New Acquisition! 120 London Street, East Boston.
Newman Properties, which purchased seven buildings in Onset back in October, has purchased two more Onset buildings, adding a total of ten new apartments to the company’s portfolio. The properties are located at 4-6 W Central Ave. and 17 Union Ave., and both were purchased directly from the seller without a broker. “We decided to add to our portfolio in this area because we felt these properties would fit in nicely with our existing portfolio in the Onset and Buzzards Bay area,” said Shoshana Baraschi-Ehrlich, the marketing coordinator for the company. In October, the company purchased seven buildings in Onset. With the addition of the two new buildings, the company now owns 68 apartments and 12 commercial rentals in Onset, and Baraschi-Ehrlich said the company will likely continue to expand its holdings in the area. Only one unit owned by the company in Onset is currently available: A small studio apartment ringing in at $1,300 per month, including utilities.
