Two LLC Deals Push North Reading Price Range to $43 Million

NORTH READING -- Twenty properties changed hands in North Reading between Sept. 25 and Oct. 24, with recorded sale prices ranging from $462,500 to $43 million. The top of that range was driven by two large LLC-to-LLC transfers, while eight sales in the period, several involving transfers into family trusts, have no price on record yet.

MARKET OVERVIEW The South Middlesex Registry of Deeds recorded 20 property transfers in North Reading during the period. Of those, 12 carry a recorded sale price so far, ranging from $462,500 to $43 million, with a median of $837,500. The remaining eight transactions, which include several transfers of property into family trusts, show no price yet; that is consistent with normal reporting lag at the registry rather than a withheld figure. Twenty recorded transactions is a notable volume of activity for the one-month period, based on the raw count alone.

TOP SALES 400 Riverpark Dr. sold for $43 million on Sept. 28, the period's highest-priced transaction, with Riverpark LLC selling to Riverpark Associates LLC. The sale of 134 North St. for $13,660,185 on Oct. 6 was the second-largest, with North LLC selling to North Street LLC and North Street II LLC. At 3 Croswell Corner, the property sold for $1,550,000 on Oct. 1, with Susan M. Jackson selling to Katherine G. and James W. Casaletto. The home at 5 Locust St. sold for $1,100,000 on Oct. 7; Samantha J. and Robert J. Rivard sold to Marion Geiger and Maxwell Maccarthy. At 14 Pleasant St., the sale price was $875,000 on Oct. 7, with Robert W. and Kristen R. Woollam selling to Deric and Amy Maddaleni.

NEIGHBORHOOD BREAKDOWN Martins Landing, a condominium complex, accounted for four of the period's 20 recorded transfers. Prices there ranged from $462,500 for a unit in Building 4 to $579,000 for a unit in Building 8, with one additional Martins Landing unit sale still awaiting a recorded price. Below $500,000, two sales were recorded, both Martins Landing condo units. In the $500,000 to $1 million range, six sales were recorded: a Martins Landing unit at $579,000, 11 Railroad Ave. at $732,500, 12 Peabody St. at $799,900, 55 Chestnut St. at $800,000, 14 Pleasant St. at $875,000, and an unlisted North Reading address sold by Pulte Homes of New England for $924,995. Above $1 million, four sales were recorded: 5 Locust St. at $1,100,000, 3 Croswell Corner at $1,550,000, 134 North St. at $13,660,185, and 400 Riverpark Dr. at $43 million.

MARKET NOTES The two highest-priced transactions, 134 North St. and 400 Riverpark Dr., both involved LLC sellers and LLC buyers, distinguishing them from the period's residential sales and substantially widening the overall price range; the $837,500 median is a more representative figure for typical home sales in the period. Eight of the 20 recorded transfers appear to involve the same individuals as both grantor and grantee, often moving a property into a trust, including transactions at 2 George Root Way, 16 Erwin Rd., 320 Martins Lndg. Unit 406, 21 Essex St., 21 Kings Row, 3 Scotland Heights, 46 Spruce Rd. and 11 Tower Hill Rd. None of these carry a recorded sale price. The recorded sales included a mix of single-family homes, condominium units at Martins Landing and Railroad Avenue, and large-scale commercial or LLC-held property, reflecting varied property types within the period's activity.

Recorded Deeds

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

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