December 17, 2019
Braintree-based developer and owner Schochet Cos. has acquired Bay View Estates, a 130-unit market-rate apartment community in Portsmouth, R.I. The sales price was $20.4 million.
The community consists of 72 apartments in a single eight-story high-rise building, 35 apartments in a garden building, and 23 direct access units in a terrace building, spread over 29.3 acres of grounds. The average unit size is 743 square feet. Bay View Estates also offers an amenity package that includes a community room, outdoor pool, a gym and tennis court.
Simon Butler and Biria St. John of CBRE represented the seller, Bay View Apartments LLC, in the transaction.
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