New Bedford Market - Downtown

[Brian Ellis]

I have been looking in this area as of late, and everyone I talk to is relatively excited about the next 5 years.

Anyone familiar with this area knows the confusion when it comes to investing. One minute your in a neighborhood that can give you a 30% COC and then 1/4 mile away towards nicer areas you have between 10-12%.

The commercial space really confuses me, I have no idea what the going Cap rates are in certain areas. One minute you have a sale at a 10 cap and a commercial multi next door is sold with a 6 cap

There is a ton of development going on currently. Railroad is actually being built and set to be completed by 2023. It’s right on the water, you have one of the biggest fishing ports on east coast. Downtown is bustling with new restaurants. It’s just becoming a pretty cool spot. If you bought here in 2010-2015 you are probably rich by now. Multi  families were SO cheap, and they are still relatively cheap for Massachusetts. 

I wonder if this area will continue to expand and grow. And I am really excited to get involved in this real estate space. 

[Matthew Crivelli]

If you told someone that the median home value in New Bedford and Fall River were going to be $350,000 just 10 years ago they would have thought you were crazy but here we are! The south coast rail should help the revitalization continue. If only they had an east - west rail that connected Boston and Western Mass. Then the whole state could really be considered a suburb of Boston lol.