A Worcester developer bought two three-deckers, renovated them, and turned them around in a year for $1.5 million, selling both to a Winchester company.
Piperhill LLC of Worcester, registered to Neil Egan, bought a three-decker at 18 Elizabeth St. in December for $347,000 and sold it in a transaction recorded by the Worcester District Registry of Deeds on Sept. 5 for $725,000.
In a transaction recorded on the same day, Piperhill sold a three-decker at 75 Gage St. for $765,000. Piperhill purchased it in March for $325,000.
NAI Glickman Kovago & Jacobs Vice President David Eldredge represented Piperhill in the transaction. The buyer was Worcester-SY LLC in Winchester.
“In Worcester, we are excited to have played a role in two of the latest three-family property rehabilitation initiatives, contributing to the city’s ongoing urban revitalization efforts,” Eldredge said in a Sept. 25 press release from NAI Glickman Kovago & Jacobs. “The properties underwent substantial renovations soon after their acquisition by the seller in the last year.”
