BOSTON – Advisors Living represented the sellers of 46 Winter St., a 17-unit residence in Quincy, MA, in a sale to Caritas Communities, Inc., an independent, non-sectarian, nonprofit housing provider with a portfolio of 33 residences in the Greater Boston area that house more than 1,000 single men and women.
The sellers were John and Susan Grazer, and the price was $915,000. Advisors Living is the residential sales platform associated with Boston Realty Advisors, the largest Boston-based independent real estate brokerage and consulting company.
Caritas Communities acquired the 3,848-square-foot property, which houses 17 extremely low-income single individuals in single-person rooms and includes a kitchen and three bathrooms. Caritas provides permanent, subsidized homes, with services, for residents.
“This really worked out well for both sides,” said Kirsten McEleney, Vice President of Advisors Living, who represented the seller and brought Caritas Communities in as the new owner. “The owners responded to a letter I sent and told me they wanted to sell because it was getting to be too much to manage.”
“They did not want a sale to result in evictions of their tenants, and Caritas not only agreed to keep them but also said they’d connect them with other services for rental assistance, health insurance and other benefits to improve their lives,” said McEleney. “I truly wish every sale was like this.”
McEleney was aware of Caritas’s interest because for six years she has served on the Young Leaders Committee of the nonprofit organization.
Greg Rittchen, Director of Real Estate Assets at Caritas Communities and negotiated the purchase, said, “Seventeen extremely low-income people can now rest assured that they will keep their homes. “Better than that, Caritas plans to rehab and improve the property for the residents. We look forward to sharing our goals with the community in the near future.”
This is the third deeply affordable property in Quincy owned and operated by Caritas, including 8 Mechanic Street, 50-52 Spear Street, and 54-56 Spear Street.
McEleney can be reached at www.kirstenmceleney.com .