A pair of properties in the city sold for a combined $42 million, according to the office of Southern Essex Register of Deeds John O’Brien.
The properties — 1 First Ave. and 151 Andover St. — sold for $23 million and $19 million, respectively. The First Avenue property is described as a commercial, industrial-warehouse/distribution building, while the Andover Street property is a self-storage facility. Both sales generated significant revenue for the state via the deed excise sales tax — $104,880 in revenue from the First Avenue property sale and $86,640 from the sale of the Andover Street property.
A deed filed with O’Brien’s office shows the First Avenue property was sold to 83 FP1 Owner, LLC. S.G. Torrace, an HVAC distributor, operates out of the site currently. The Andover Street property was purchased by Andover Street Self-Storage from P.S. Northeast LLC.
