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Griffith-Pepdjonovic Team Closes Sale of Mansfield Apartments
Marcus & Millichap finalized the sale of a 25-unit multifamily property at 1 Samoset Ave. in Mansfield, MA for $4,750,000. The team of Evan Griffith and Tony Pepdjonovic marketed the property on behalf of the seller and procured the buyer, both local limited liability companies.
“The demand for suburban multifamily remains incredibly strong,” said Pepdjonovic, SVP investments. “This trend was on full display as we received six qualified offers and ultimately closed the property for $50,000 over the asking price. The asset presented a nice blend of steady rental income and value creation opportunity through higher-end unit remodels.”
Also known as “The Grain Mill,” 1 Samoset was an active mill throughout the early 20th century. It was converted into apartments in 1981. The property comprises 24 loft-style one-bedroom apartments and a two-bedroom penthouse unit overlooking the downtown area. It is located near the Mansfield MBTA station, major highways and shopping, dining, and entertainment venues.
- ◦Sale/Acquisition
