Breakwater
Update
05/27/16
350-unit Lynn waterfront development moves forward
Banker and Tradesman reports that Lynn Development LLC, a development entity managed by Louis Minicucci Jr. and Arthur Pappathanasi, recently closed on the acquisition of a 5.4 acre waterfront parcel located at 254-258 Lynnway in Lynn. A 350-unit, $80 million residential apartment project is approved for construction on the parcel. Parcel sale price was $2 million according to the Essex County Registry of Deeds.
The development team expects to break ground on the project in early 2017. Construction of the project will mark the first major development on the Lynn waterfront since 2008.
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