November 19, 2010
JJManning Auctioneers, a leader in the accelerated marketing and disposition of quality real estate, is pleased to announce the sale at auction on Friday, November 19, 2010 of 12 Parmenter Street in Boston, a 10,000+/- sf. mixed-use 6-story brick building at the corner of Hanover Street featuring a first floor restaurant, 6 apartments, and a newly built two-story luxury 4-bedroom, 4-bath penthouse with spectacular city skyline views.
On auction day, a crowd of spectators watched as 14 registered bidders, representing many of the area's top real estate investment and management firms with a combined total of $1.4 million in certified deposit funds in hand, competed to own this North End landmark. Firm President and auctioneer, Justin J. Manning, quickly drove the bidding for this income property from the top broker pre-registration opener of $3 Million to a sale price of $4,455,000.
This modernized historic building, real estate tax assessed at $1.435 million, has been family owned/ managed for 100 years and offers the potential for condominium conversion.
JJManning Auctioneers sells high value commercial & residential real estate exclusively at auction. With a full schedule of auctions through year's end, the firm is currently accepting consignments for 2011. Please visit www.JJManning.com or call 800-521-0111 for further information.