February 1, 2021
N.J. trust pays $1M for 47 Worcester apartments
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1002 Main St. in Worcester
A New Jersey-based trust has paid just over $1 million for a 47-unit building in Worcester's Main South neighborhood. The sale, which closed Jan. 4, values each of the building's units at just under $22,000.
The new owners, the Robert and Regina Amsel Irrevocable Trust, bought the property at 1002 Main St. from Longfellow Holdings, a Chestnut Ridge, N.Y., firm that owns about 20 apartment properties across Massachusetts.
Longfellow Holdings bought the property, which stands a few blocks south of Clark University, in 2017 for $2.3 million. The 0.7-acre site was last assessed by the City of Worcester at nearly $3.7 million.
WBJ Web Partners
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Anonymous
February 2, 2021
Anyone know their plans? Are they making them more luxury apartments? Gentrification has likely made it to Main South. Unless they are planning on low-income for the entire place. Not just the amount required in Worcester.
Anonymous
February 1, 2021
This is an amazing property -- hope the new owners intend to invest in, and make the much-needed improvements it deserves-- its current state of disrepair and neglect is dragging down the entire neighborhood.
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