511 East Fifth Street Flats Update 09/08/16

Local developers acquire 11,100 square foot South Boston site for $1.875 million


Yesterday (September 7th, 2016), local real estate developers Timothy Long and Michael Ahern acquired a 11,100 square foot site in South Boston located at 511 East 5th Street for $1.875 million as recorded in the Suffolk County Registry of Deeds. Long and Ahern are the co-developers of Peabody Square Lofts, ten recently-completed condominiums located in Dorchester across from Ashmont Station. First Commons Bank provided $4,444,753 in financing for Long's acquisition of 511 East 5th Street. Per Long's limited liability company (LLC) filing, Long and Ahern intend to develop a project on the site tentatively designated 511 East Fifth Street Flats. 511 East 5th Street was last acquired for $1.115 million in July 2013 and for $1.7 million in July 2006. The following is the deed for Long' and Ahern's acquisition of 511 East 5th Street:


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