Townhouse Condominiums

Attleboro, MA

This luxury townhouse condominium project located on a 10-acre riverfront site in a MA suburb had failed and was bank-owned. Nine of 20 units had been built and sold, at prices exceeding $400,000. The remaining land was approved for an additional 11 units, in two additional phases. Clubhouse Capital was approached by the bank, which desired to sell the property. On behalf of a real estate developer client, Clubhouse negotiated a purchase price of $21,000 per unit for the remaining land. The developer acquired the property and successfully completed construction of the next phases, which sold at at prices in the low $300,000 range. Clubhouse also secured all project financing. (Fall 2011)