LYNN — A 55-unit apartment building at 12 & 16 Newhall Street was sold for more than $13 million, Southern Essex Register of Deeds John O’Brien announced last week.
M & M Gloss Realty Company, based in Everett, sold the building to Scott M. Silverman and Lesley S. Silverman, of Swampscott, the trustees of 16 Newhall Street Realty Trust, for a sum of $13.5 million, according to a property deed filed with O’Brien’s office.
City assessing records available on Patriot Properties records show 16 Newhall Street valued at $7.374 million.
The sale will generate $61,560.00 in revenue for the state via the deed excise sales tax, according to O’Brien’s office.
The sale qualifies as “significant” because the sale price exceeded $5 million, according to O’Brien’s office.
Newhall Street is situated just off of Broad Street, and leads directly to the Lynnway.
