Sumir Sahgal through the entity 591 East Tremont Realty LLC paid Maurice Elmalem’s 3925 Wpr Realty Corp. $5.1 million for 591 East Tremont Avenue in Tremont. The deal closed on October 17, 2019, and was recorded on October 29, 2019. The transaction consists of 1 parcel, including the tax class one-story store building (K1). The property is 29,435 square feet. The parcel(s) have total development potential of 36,279 square feet.
The average sale price per square foot is $139.
The estimated cap rate is 2.8%
The DOB issued a major alteration (A1) initial temporary certificate of occupancy for the building on October 7, 2019.