One $30 Million Deal Skews Malden's Wide-Ranging Sale Prices This Month

MALDEN -- Seventeen property transfers were recorded in Malden between June 19 and July 18, ranging from a $30 million commercial-scale sale on Green Street to a series of family and trust transfers with no listed sale price.

MARKET OVERVIEW The Registry of Deeds recorded 17 transfers in the period. Of those, five listed a sale price, ranging from $550,000 to $30,000,000. The median price among the five disclosed sales was $1,250,000. With 12 of 17 transfers showing no consideration amount, the raw count alone does not indicate whether the period was active or quiet by dollar volume; most of what moved was ownership restructuring rather than open-market sales with disclosed pricing.

TOP SALES 59 Green St. sold for $30,000,000 on June 29, by far the largest transaction of the period. The seller was Cuticura Associates LP and the buyer was Robinson Cuticura CB LLC. A property listed only as "Malden, MA" sold for $1,300,000 on June 25; the seller was East Side Athletic Association Inc of Malden (also listed as East Side AA Inc) and the buyer was Veterans of Foreign Wars. 11 Marlboro St. sold for $1,250,000 on June 26, with sellers Louie Scibelli and Louis Scibelli conveying to Marlboro Street LLC. 14 Vining St. sold for $625,000 on June 22; sellers Rui Hui Huang and Ruihui Huang conveyed to buyers Hasnae Boukhmis and Mustapha Amhal. 635 Salem St. sold for $550,000 on June 22, with Turleys Power Palace LLC selling to Mucollari LLC.

NEIGHBORHOOD BREAKDOWN Bowers Avenue had two recorded transfers in the period -- 72 Bowers Ave. and 59 Bowers Ave., both on June 25, neither with a disclosed price. No other street had more than one recorded transfer. By price tier among the five disclosed sales: two fell under $1 million (14 Vining St. at $625,000 and 635 Salem St. at $550,000), two fell in the $1 million-to-$2 million range (11 Marlboro St. at $1,250,000 and the East Side Athletic Association property at $1,300,000), and one exceeded $20 million (59 Green St. at $30,000,000). The remaining 12 transfers, spread across streets including Walnut, Woodrow, Pierce, Washington, Ripley, Jonathan Lane, Prospect Terrace, Judson, Hospital Road and Emerald, carried no disclosed price.

MARKET NOTES A majority of the period's recorded transfers -- at least seven of 17 -- appear to be transfers within the same family or into a trust rather than open-market sales. These include 17 Woodrow Ave. (Bonnie M. Connolly to herself as trustee of the Bonnie Connolly Revocable Trust), 57 Pierce St. (Lawrence R. Cotter to Shawn P. Cotter), 186 Washington St. (Elio Disano to himself as trustee of the Disano Real Estate Trust), 35 Ripley St. (Hans T. Chen and Liping Chen to Hans T. Chen), 15 Prospect Ter. (Adam Patrick Russell and Dana Leigh Palmateer to themselves as trustees), 12 Judson St. (Wen Bin Lin to Hui R. Zhou and Wen Bin Lin as trustees), and the two Bowers Avenue transfers noted above, each of which added a family member to existing ownership. None of these transfers listed a sale price, which is consistent with intra-family or trust conveyances. Separately, 57 Hospital Rd. changed hands from MelroseWakefield Healthcare Inc to the City of Malden, an institutional-to-municipal transfer with no disclosed price. Deed records for this period do not include property type, square footage or bedroom/bathroom counts, limiting further comparison across the transfers.

Recorded Deeds

Source: Registry of Deeds. Sale amounts shown as recorded; transfers without a disclosed consideration are noted as such.

Jun 22 - Jun 28

Jun 29 - Jul 5

Compiled from official town feeds, community organizations, and local press. Outside reporting is attributed inline.