The 24-unit Leicester Gardens apartment complex has changed hands for the second time in the last three years, this time being sold for $5.67 million.
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The 24-unit Leicester Gardens apartment complex has changed hands for the second time in the last three years, this time being sold for $5.4 million.
Westborough-based Shorelight Real Estate Corp. sold the property located at 1671 Main St. in a deal finalized Thursday, according to Worcester District Registry of Deeds records. The site was purchased by Granite Ridge Realty, a Westford-based entity managed by Angelo Tracanna.
Shorelight purchased the site for $4 million in April 2023 from Nasar LLC of Medway, which had bought Leicester Gardens for $1.5 million in 2003. The complex has undergone capital improvements, according to a listing from Connecticut-based Northeast Private Client Group.
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Leicester Gardens is a two-building complex built in 1958, featuring 22 two-bedroom apartments and two one-bedroom apartments. The site is located on Route 9, adjacent to the former Leicester Drive-In Theater.
Granite Ridge’s purchase of the site was backed with a $3.6-million mortgage from Rockland Trust.
The sale price equates to $225,000 per unit.
Taylor Perun of Northeast Private Client Group served as the listing broker for the property.
The 3.43-acre site received a 2026 assessment of $2.58 million, according to Town of Leicester property records.
Eric Casey is the managing editor at Worcester Business Journal, who primarily covers the real estate and banking & finance industries. 
