Belmont Savings Announce Staff Promotions

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Photo: Belmont Savings Bank.

Belmont Savings Bank has announced it has promoted several officers within the organization. The promotions are part of Belmont Savings’ ongoing effort to maintain and strengthen its banking team as it solidifies itself as one of the region’s leading community banks.

“It is with great pleasure that I announce the promotion of five of our colleagues effective immediately,” said Robert Mahoney, pPresident and CEO of Belmont Savings Bank. “These new officers are lynchpins to the bank’s ongoing success, and I applaud each of them on their promotions.”

“These new officers are lynchpins to the bank’s ongoing success, and I applaud each of them on their promotions,” Mahoney said.

“These new officers are lynchpins to the bank’s ongoing success, and I applaud each of them on their promotions.”

The newly promoted officers include:

  • Brian Bagley, Senior Vice President, Commercial Credit Manager. Bagley works with Commercial Real Estate loans closings and post-closing reporting. He lives in Winchester, and is a graduate of the University of New Hampshire – Whittemore School of Business and Economics.
  • Larry Broderick, Senior Vice President, Business Banking. Broderick joined the Business Banking team in 2013 with a particular focus on the Municipal segment. He resides in Londonberry, NH, and received his MBA from Suffolk University.
  • Seth Lopes, Senior Vice President, Business Banking. Lopes is a Business Banking Relationship Manager specializing nonprofit and lawyer banking. He lives in Attleboro, and graduated from Assumption College.
  • Linda Dulski, Assistant Vice President, Wire Transfer Officer. Dulski works to alleviate risk for the Bank when conducting wire transfers. She resides in North Andover, and graduated from New England College of Finance.
  • Kayla Murphy, Assistant Vice President, Marketing Officer. Murphy manages the company’s website, social media channels, community events and Foundation programs. She is a graduate of University of Massachusetts/Amherst and lives in Medford.

Town Forming United Front on Cushing Village’s Future

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Photo: The proposed Cushing Village.

The meeting held Monday night, Feb. 22 in the Chenery Middle School’s teacher’s lounge took longer than expected. But what is an extra half hour when the subject under discussion is a troubled commercial project more than 900 days behind schedule?

In attendance at the executive session were the Board of Selectmen (which called the meeting), Chair Liz Allison and Barbara Fiacco of the Planning Board, Town Counsel George Hall, Treasurer Floyd Carman and Town Administrator David Kale with only one agenda item on the schedule: Cushing Village, the proposed 164,000 sq.-ft. residential/retail/parking complex at the corner of Common Street and Trapelo Road in the heart of Cushing Square.

While nothing was officially revealed at the closed doors conference, enough was evident from the people assembled, the time spent in conference as well as off-the-record comments from town officials; Belmont is preparing to move on the troubled Cushing Village project, with or without the currently designated developer, Smith Legacy Partner Series. 

This new united front will likely be unveiled tonight, Tuesday, Feb. 23 at 7 p.m. as the Planning Board will receive another “update” on the project from the development team, a requirement the board imposed on Smith Legacy after it failed to meet “three agreed to ‘milestones’ with the town” set the first week in December to begin the initial construction phase of the $63 million project with the purchase of the municipal parking lot adjacent to Trapelo Road. 

To keep its option to buy the municipal lot for $850,000, Smith Legacy has paid more than $600,000 in penalites to Belmont, with the knowledgment that half of that amount would be used towards the purchase of the parcel when financing is secured. 

The project, beset with endless delays and missed deadlines, has been in a development purgatory as the team – comprised of Smith Legacy and its partners Urban Space and the recently added NJ-based Micheals Development Company – has been unable to secure the myriad of financing sources required to construct the three-building complex with includes 115 residential units, 225 parking spaces and approximately 38,000 square feet of first floor retail space.

The apparent breaking point for the town came earlier this month when Starr announced respected industry leader Cornerstone Real Estate Advisers was no longer involved with the project to provide important mezzanine financing to the project. 

Yet, as one observer who is in banking said, the best case senario for Belmont is to push the developer towards giving up control of the parcel to either its lead lender, Wells Fargo, or sell the development rights to an established developer rather than simply declare the developer incapable of completing the project in a reasonable time.

“You don’t want to go through the [Planning Board] process again. You want a smooth transition,” she said. 

Belmont Savings’ Net Income Shots Up 61% in ’15; Assets Reach $1.8B

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Photo: One of Belmont Savings’ supermarket bank branches.

BSB Bancorp, the holding company for state-chartered Belmont Savings Bank reported Thursday net income for the year ending Dec. 31, 2015 rose to $6.9 million, compared to 2014’s $4.3 million, an increase of 61 percent.

“Through strong organic growth and expense control, we have achieved 10 consecutive quarters of earnings improvement. Credit quality remains good,” said Robert Mahoney, president and chief executive officer.

On the last day of 2015, BSB’s total assets reached $1.81 billion, an increase of $387 million or 27 percent from $1.43 billion on Dec. 31, 2014.

On Dec. 31, 2015, bank deposits totaled $1.27 billion, an increase of $285 million or 29 percent compared to $985 million reached the last day of ’14.

“Our deposit growth throughout 2015 was an important, cost-effective funding source for loans our strong asset growth,” said Hal Tovin, executive vice president and chief operating officer.

“We were very pleased with the fact that it came from building customer relationships in many business segments – most notably business banking, municipal banking and commercial real estate,” said Tovin. 

The bank experienced net loan growth of $356 million, or 30 percent, from Dec. 31, 2014, with increases across the board:

  • Residential 1-4 family real estate loans: $259 million.
  • commercial real estate loans: $54.2 million
  • construction loans: $29.3 million
  • home equity lines of credit $28.4 million.
  • commercial loans: $14 million.

Total stockholders’ equity increased by $9.2 million from $137 million as of Dec. 31, 2014 to $146.20 million as of Dec. 30, 2015. This increase is primarily the result of earnings of $6.9 million and a $2.2 million increase in additional paid-in capital related to stock-based compensation.

Sold In Belmont: Long(meadow) and Hard Fall For a Cape on the Hill

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Photo: It would take more than 600 days and a drop in price by $400,000 to sell this Cape on the Hill.

A recap of residential properties sold in the past seven-plus days in the “Town of Homes”:

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95 Longmeadow Rd., Extended Cape (1960). Sold: $1,286,000.

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438 Trapelo Rd., Unit 2, Two family (1917). Sold: $520,000.

• 95 Longmeadow Rd., Extended Cape (1960). Sold: $1,286,000. Listed at $1,699,900. Living area: 4,546 sq.-ft. 7 rooms, 4 bedrooms, 3.5 baths. On the market: 634 days.

• 438 Trapelo Rd., Unit 2, Two family (1917). Sold: $520,000. Listed at $519,000. Living area: 1,341 sq.-ft. 10 rooms, 3 bedrooms, 2 baths. On the market: 38 days.

You may not know this but Mother Nature has a sibling: Auntie Marketplace, and you shouldn’t fool with either one.

Whether it was hubris, a miscalculation or wishful thinking, the long-time (30 years plus) owners of the very-well preserved built-out Cape on Longmeadow sought to cash in on their house by cashing out. Considering the location – one of the cozy backstreets on “the Hill” – the seller and sales associate shot for the moon in May 2014 and put out an asking price of approximately $1.7 million.

But there appear to have been two major impediments to the price tag placed on the rather roomy (4,500 square feet) abode. First was Auntie Marketplace; even in the heady environs of Belmont housing, attempting to sell a house for m0re than 30 percent greater than the assessed value ($1.2 million) takes a lot of chutzpah.

In addition, while the house is rated above average (a B+ by town assessors) and it has many nice features, the interior architecture is unlike your typical Cape. You enter the front door and suddenly you’ve been transported into a ranch with low-slung ceilings and wide front windows. The living room is quite large – the house only has seven rooms – so you’ll need that oil truck (yes, oil heat) making a delievery every few weeks. While the basement is finished, it’s like a bowling alley at 100 feet by 16 feet. 

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And there is a period interior design element that is an eye opener and not the good kind: wood paneling. And lots of it in the kitchen, basement and den. I understand in the 1960 paneling was all the rage as manufacturing innovations made it affordable, it was a homeowner’s dream as it did away with having to paint or wallpaper walls and was a wiz to clean. But today, paneling just screams “outdated!” It’s like you’re on the set of “Boogie Nights.”

The need for a good interior renovation – new carpeting, wallpaper, paint – will keep the new owners busy and their wallets open for at least the first year. Sort of hard to ask for a premium price when the buyer is going to shell out to bring the place into the 2000s. 

So it was no surprise that the fall from the original list price was steadily downward towards its assessed value:

  • May 19, 2014: $1,699,900
  • June 23, 2014: $1,649,900
  • June 30, 2014: $1,599,900
  • By July 12, the owners decided to pull it off the market until the coming spring.
  • Feb. 26, 2015: $1,439,000
  • June 25, 2015: $1,399,000
  • July 3, 2015: $1,349,000
  • By August, the sellers again decided to once again take it off the market.
  • It came back on Dec. 11, 2015, at $1,299,000.

Finally, the 600-plus day long sales march was over on Feb. 12 and it sold for $1,286,000.

And what is the 2016 assessed value of the property? $1,250,000. In the long run, Auntie Marketplace is almost always right.

 

Vote On Proposed Hotel Delayed Until March Due to Paperwork Snafu

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Photo: Developer Michael Colomba and his architect Andy Rojas before the ZBA.

To the disappointment of two dozen residents who ventured out Monday night, Feb. 1, to cheer or jeer a proposed new hotel at the corner of Pleasant Street and Brighton Avenue, the town’s Zoning Board of Appeals decided to delay by a month acting on the request of a Waltham developer seeking several zoning waivers because he and his team didn’t get their “homework” to the board in a timely manner.

Several ZBA members were a bit ticked off to receive a thick packet of documents including a traffic study just days before the meeting on a subject that is garnering a great deal of interest.

“I object opening this case and to have a public hearing on it,” said ZBA member Nicholas Iannuzzi, noting he did not have time to analyze the case or the traffic study on how many daily “trips” a hotel would generate.

ZBA Chair Eric Smith agreed that he and others received the document packet “quite late” after Jan. 22 and suggested developer Michael Colomba and his team make an introductory informational meeting for the board and residents.

The formal public meeting on the proposed hotel development will be part of the board’s March 7 agenda.

Former Belmont Selectman Andy Rojas, the project’s architect, presented an overview of the project, renovating the two-building, two-story structure at 334 Pleasant St. – the former Mini Mart convenience store and offices – and opening a boutique hotel consisting of 18 guest rooms, a cafe for guests, a fitness room, a business center and management offices on the 14,400 sq.-ft. site.

The building’s exterior will not be altered significantly in an attempt to “express Belmont’s agrarian history.”

Rojas said the hotel would have less impact on local traffic than what can operate on the site “as right” (without needing any zoning change) including a retail store, and will generate tax revenue from lodging and meals “without having an impact on the schools.”

“This is a much quieter use and will be a quiet neighbor” to the surrounding community, said Rojas.

Colomba, who purchased the property last year, said he rented rooms “to a lot of people visiting Belmont” at his first hotel, the Crescent Suite Hotel in Waltham, whether it was for a funeral, graduation parties or visiting patients in hospitals and believes there is a demand for “low key” European-style lodging: just a bedroom setting for people to rest and sleep during a stay.

 

ZBA members asked Colomba to bring his traffic expert to the next meeting. Smith also asked the team to have “an explanation how in your view how a hotel fits within the bylaw regardless of the merits of the proposal.”

“I’m asking them to convince the board why this rather than another use,” Smith said after the meeting.

For his part, Colomba told the Belmontonian after the meeting he understands why the ZBA will want to scrutinize the project “and we plan to follow as necessary their requests.”

If on March 7 the ZBA doesn’t agree with his belief that a hotel is the best use for the site, Colomba said his fall back plan is to lease the space to one of two firms that want to open a convenience store. 

“But I really think that this is a very good venue and the town should consider it. I think it’s a win/win for everyone,” said Colomba. 

Will bfresh Finally Save Developer’s Vision of Cushing Village?

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Photo: bfresh in Belmont?

According to two sources with knowledge of talks transpiring between the parties, it appears the developer of the long-stalled Cushing Village development is seeking to bring a new small-format supermarket developed by a large international chain to become the project’s anchor tenant.

According to sources, developer Smith Legacy Partners is in discussions with Ahold, the Netherland-based parent of Stop & Shop Supermarket Company of Quincy, to bring its test model bfresh concept market to the 164,000 sq.-ft. residential/retail/parking complex at the corner of Common Street and Trapelo Road in the heart of Cushing Square.

The bfresh concept was created by Fresh Formats; a Ahold company started in 2014 to explore new and innovative format opportunities, in an attempt to compete with other smaller stores such as Traders Joe.

According to Suzi Robinson, marketing magus for Fresh Formats would only say “we’re exploring opportunities for future stores in the greater Boston area, but don’t have any news to share yet.”

A representative from Smith Legacy has not yet responded to questions. In the past week, Starr said his search for a “small-format food store anchor tenant” is “progressing.” 

The importance of a large retail tenant to secure the future of the project was stressed in a pair of updates Starr provided the Planning Board since the beginning of the year, stating “construction financing has hinged in the past on our retail pre-leading activity.” As of Jan. 25, the development team said they have secured only two 

As of Jan. 25, the development team said they have obtained only a pair of leases in the 31 months since it was granted approval to begin construction. The two potential tenants – a restaurant/pub and an unnamed “national” retailer so far will fill about 12,000 of the 38,000 sq.-ft. retail space available. 

It will be crucial for the Smith Legacy team to “land” a multi-year lease to reassure lenders of its financial wherewithal. It is why Starr has been trumpeting the fact his team is actively courting bfresh. 

“We are in discussions with a financially strong, experienced, market[-]leader that prides itself on providing fresh, high-quality prepared food and other necessities in a small format store,” wrote Starr in the second of the updates.

The reason a deal has not been struck so far has to do with the experimental nature of the concept itself – Ahold wants to take a longer look at the stores’ performance (a second outlet was opened in Fairfield, Conn. in October) – and what appears to be a very competitive environment for this model in Belmont, with the existing Russo’s Market in nearby Watertown and a Foodies Urban Market to open in Belmont Center in the fall of 2016 with a Cushing Village operation unlikely ready until 2017.

Ahold opened its inaugural bfresh store in Boston’s Allston neighborhood in September in a former Staples at 214 Harvard Ave. a block from Comm. Ave. bfresh is a test model store that “presents itself as a solution for neighborhood shoppers — particularly young people — frustrated by compromises on quality, price and convenience at typical food stores,” reported Supermarket News on Aug 20, 2015.

The small for supermarket 10,000 sq.-ft. store is “focused on “fresh foods, smart value, and right in your hood” according to the Ahold website, offering “more natural and organic options than a typical market, vegan and gluten-free options, and foods from around the world.”

Stores also stock freshly prepared foods in its “Little Kitchen™, a fresh-on-the-spot experience that brings made from scratch, always fresh, seasonal meals into the store. Menus change daily, showcasing simple recipes made with fresh ingredients for maximum taste.”

Sold in Belmont: What Would $785K Get You in Oregon? Nicer, Bigger, Better

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Photo: Belmont (left) and Lake Oswego. No contest.

A recap of residential properties sold in the past seven-plus days in the “Town of Homes”:

• 48 Middlecot St., Brick and shingle ranch (1953). Sold: $785,000. Listed at $749,000. Living area: 1,423 sq.-ft. 6 rooms, 3 bedrooms, 1.5 baths. On the market: 52 days.

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The one residential sale last week in Belmont is a fairly standard post-war ranch-style single family. The house on Middlecot Street in the heart of Winn Brook, that sold about $100,000 over its assessed value, has a treadbare feel to it – just look at the wear patches on the kitchen flooring and door frame. In addition, there’s a thrown together vibe through out the interior, from the hidious  1970s paneling in the basement to the mismatching bathroom detail. 

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So, is the best $785,000 can get you? Or better yet, what can you get in communities that resemble our “Town of Homes”? It didn’t take long to find one; a 45 hour, 3,088 mile road trip due west.

Lake Oswego, Oregan is an upscale suburb of Portland (Portlandia!) known for its residential character. It has an outstanding school district that attracts aging hipsters who decide they would rather invest in a pricy home then stay in their artsy Portland loft and spend a fortune on private school fees. Its impressive downtown (it’s a harbor!) and shops supports a population of 36,000 with a per capita income of $53,000, compared to Belmont’s $57,000.

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So here it is: for $758,000 this remodeled Craftsman Bungalow could have been yours. It’s so pretty, a late example from 1930 that was lovingly restored and renovated. The fireplace’s decreative surround, wood floors and the traditional four-over-one windows are all nice touches. Along with a landscaped yard, you get 1,000 additional  square feet, two full bathrooms and nice-sized bedrooms. 

Just for comparison, the Craftsman basement is thought out in color scheme and arrangement while the Belmont cellar is just creepy.

Why can’t we have nice things? 

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Planning Board Awaits ‘Groundhog Day’ Meeting on Cushing Village

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Photo: Groundhog Day, the movie.

Some may find it ironic that the developer of Cushing Village, the troubled retail/residential/parking project at the corner of Common Street and Trapelo Road, will be before the Planning Board on Groundhog Day, Tuesday, Feb. 2.

Wry laughter reverberated through the Board of Selectmen’s room when the Planning Board’s Karl Haglund mentioned the confluence at the board’s Tuesday, Jan. 19 meeting. It was not lost on most people the long-stalled development reminds many of the classic 1993 film of the same name in which Bill Murray finds himself repeating the same day (Groundhog Day) over and over again.

Only here, it is the board and residents who had been reliving the same issues and promises from Cushing Village’s developer, Chris Starr of Smith Legacy Partner Series, since July 2013 when the Planning Board approved a special permit and design and site plan review to allow construction to start on the 164,000 sq.-ft., three building project.

All that is missing is hearing Sonny and Cher sing, “I’ve Got You, Babe” that starts each new/same day in the film.

Cushing Village and its future were part of the Planning Board’s agenda this week as the body received a written update from Starr’s development team, a board request made earlier in the month after Smith Legacy failed to meet a series of “hard” deadlines it had committed to meet in December.

This second update, dated Jan. 19, was revealing for its lack of specifics and the acknowledgment that Starr is using the two abandoned buildings on the site as his main collateral to secure construction financing. It also avoided mentioning Starr purchasing the municipal parking lot adjacent to Trapelo Road, which is a key to moving the project forward.

“I’m surprised that we still haven’t heard the target date about the closing (on the parking lot) given that we heard many times that the date was close, and all but one document was needed the last time they were here in December,” said Planning Board member Barbara Fiacco.

“I was expecting this update to address the closing date issue,” said Fiacco.

Even the supposed good news of finding potential tenants for the troubled project, there is a concern the news is not as bright as it appears. 

For the second time in as many weeks, Starr said his search for a “small-format food store anchor tenant” is “progressing” yet could not confirm that a lease was close to being signed. 

“We are in discussions with a financially strong, experienced, market[-]leader that prides itself on providing fresh, high-quality prepared food and other necessities in a small format store,” wrote Starr, saying the store will take up 15,000 sq.-ft. 

While announcing the signing of two leases – a store and a restaurant – to fill the 38,000 sq.-ft. retail space, Starr refused to detail the who, what, and how long of the potential occupants.

The restaurant, dubbed “Arigna”, is only described as taking 5,000 sq.-ft. Starr does not name the owner or the type of establishment, although there is some indication that it would be in the Irish pub category as Arigna is the name of a small coal mining town in Ireland. The only other establishment with that name is in Pawtucket, RI.

And while heralding the signing of a “major national tenant,” Starr claims “confidentiality.” While noting the national brand coming to the site, it will likely be a small outlet. Saying the three retail operators will take up 22,400 sq.-ft. and the restaurant and market using 20,000 sq.-ft., the national tenant would be in the 2,400 sq.-ft. range. Some popular commercial uses for that space requirement includes reduced-sized bank branches or a 7-11 convenience store. 

Even if Starr can close on three leases, the retail component will only be 60 percent of capacity, with 15,000 sq.-ft. remaining “vacant.” In comparison, two under-construction commercial buildings in nearby Watertown have sold out their retail space which is in the 25,000 sq.-ft. range. Starr has stated that “construction financing has hinged in the past on our retail pre-leading activity.” 

But it was Starr’s explanation why demolition has not yet begun that raised the eyebrows of some board members and those in the audience. He revealed the two abandoned and dilapidated buildings on the site, the former S.S. Pierce & Co. and the First National/CVS, is the development company’s “current bank collateral for our mortgage.” 

“While our current bank [Wells Fargo] bank might allow us to perform selective small-scale demolition, we don’t think doing a portion of he demolition destruction will help move [along] the project,” said Starr. 

“I was surprised that they are only revealing now that the existing, mostly vacant buildings are the collateral for their existing mortgage because part of the agreement they made was to do the demolition on an early timetable,” said Haglund. “Maybe he was optimistic moving on to the closing.” 

Starr said he expects to close on the parking lot on or before Feb. 2. 

 

Waltham Hotel Owner Proposing Boutique Inn at Pleasant and Brighton

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Photo: A rendering of the proposed Belmont Inn Suites at the corner of Pleasant and Brighton streets.

A Waltham entrepreneur has pulled permits with the Office of Community Development to renovate the former Mini-Mart Market at the corner of Pleasant and Brighton streets into a “luxury boutique hotel” similar to ones he both ran and is proposing in Waltham.

Mike Colomba is seeking to create a two-story “The Belmont Inn Suites” at 334 Pleasant St. consisting of 18 guest rooms, a cafe for guests, a fitness room, a business center and management offices on the 14,400 sq.-ft. site, according to documents at Town Hall.

Colomba is scheduled to come before the Zoning Board of Appeals on Tuesday, Feb. 2 to present the proposal. If the ZBA approves four special permits – on various setbacks and height variances – the hotel will be the first in Belmont in decades.

This month, the ZBA narrowly denied special permits to transform the abandoned service station across Brighton Street into a Dunkin’ Donuts after hearing from neighbors who complained about possible increase traffic and noise issues.

The project will not be new construction but a “complete exterior renovation” to create a building that is “a veritable gem” in what Colomba calls an “up and coming commercial area” in Belmont.

The hotel will have 19 parking spaces and “lush” landscaping.

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The view from Pleasant Street of the proposed Belmont Inn Suites.

Brighton-based Rojas Design, Inc. created the designs. The architectural and landscape firm is owned by former Belmont Selectman Andy Rojas.

Colomba, who owns the restaurant Brelundi on Felton Street in Waltham and recently sold the Crescent Suite Hotel in the same town. He is currently proposing to build a 45-room hotel on the 200 block of Moody Street in Waltham.

A Youtube presentation by Waltham News Watch with Colomba describing Crescent Suite Hotel is below:

Colomba could not speak when reached on Tuesday, Jan. 19 but will be giving interviews on the concept later in the week.

In his permit documentation, Colomba said: “[T]he transformation (of the site) will improve the property values for the entire neighborhood.” His past hotel projects generated room, meals and sales taxes for the hosting community while noting that a lodging project “will not overload school and generates less traffic” than other uses at the location.

“My hotels are quiet and respectful” of the surrounding neighborhoods, said Colomba.

Sold in Belmont: Colonial Takes a Tumble, Ranch By The Rails A Steal

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Photo: Watch out below! Horace Road house listing falls.

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4 Goden St., Multifamily (1915). Sold: $886,000.

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219 Channing Rd., Brick-front Ranch (1959). Sold: $640,000

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42 Horace Rd., Colonial (1917). Sold: $815,000.

A recap of residential properties sold in the past seven-plus days in the “Town of Homes”:

• 4 Goden St., Multifamily (1915). Sold: $886,000. Listed at $895,000. Living area: 2,715 sq.-ft. 12 rooms, 5 bedrooms, 2 baths. On the market: 114 days.

• 219 Channing Rd., Brick-front Ranch (1959). Sold: $640,000. Listed at $675,000. Living area: 1,432 sq.-ft. 6 rooms, 3 bedrooms, 2 baths. On the market: 94 days.

• 42 Horace Rd., Colonial (1917). Sold: $815,000. Listed at $945,000. Living area: 1,938 sq.-ft. 9 rooms, 4 bedrooms, 2.5 baths. On the market: 148 days.

The Colonial on Horace Road would appear to be priced at nearly $950,000 to squeeze ever penny out of the 99-year-old house. And why not, with “average” homes in the Winn Brook neighborhood and close to the High School on the south side of Concord Avenue selling for just north of $1 million, here was an attempt by the buyer to reap the benefits of a hot market. With an ample number of bedrooms, close to the Wellington, Chenery and High School, and with some lovely interior features – wooden floors, a corner china cabinet and double French doors – this structure looked like a sure deal for the seller.

But for this modest home near to Common Street, the market for “average” was cooling. Rather than riding the fall sales period ever higher, this house took a tumble, falling nearly $150,000 in value from the opening list price to final sale:

  • Aug. 21, 2015: $945,000 (Original list)
  • Oct. 7: $899,000
  • Nov. 5: $875,000
  • Jan. 8, 2016: $815,000

Not so the brick ranch on Channing, which some lucky person got for a song. OK, it borders the commuter rail tracks but what the buyer is getting is a well-maintained, cosy house with a landscaped backyard. And just think what it will be once the new community path is constructed adjacent to the property line (wink, wink).

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