Boston Commercial Property Source » My Blog http://nextlevelcommercialre.com Having a Top Agent "Priceless" Tue, 16 Mar 2010 17:51:01 +0000 http://wordpress.org/?v=2.9 en hourly 1 Falmouth Building Outfitted With ‘Most Efficient’ Solar Panels http://nextlevelcommercialre.com/falmouth-building-outfitted-with-%e2%80%98most-efficient%e2%80%99-solar-panels http://nextlevelcommercialre.com/falmouth-building-outfitted-with-%e2%80%98most-efficient%e2%80%99-solar-panels#comments Wed, 06 Jan 2010 18:12:56 +0000 admin http://www.bostonpropertyconnection.com/?p=284 Woods Hole Landholdings in Falmouth has outfitted nearly 2,400 square feet of roof space with Sun Power panels. The 176 panels, provided by Beaumont Solar, are the most efficient solar panels commercially available on the global market, according to a statement.
The office building is the headquarters for the Woods Hole Group Inc., an international, environmental, scientific and engineering consulting organization and its affiliate, the Woods Hole Group Middle East, according to a statement.
“While the international community continues to fail in achieving a common basis for combating global climate change, Woods Hole Landholdings has moved forward locally to address our corporate responsibility to help the United States develop more sustainable energy,” said David Aubrey, owner of WHLH. “When our building was first constructed 10 years ago, we were not able at that time to finalize a renewable energy component, though we wanted to and incorporated such an eventuality into our building design.”
Using a grant from the stimulus bill provided by the federal government and a rebate from the Massachusetts Renewable Energy Trust, WHLH installed solar photovoltaics (PVs), arrays of cells containing a material that converts solar radiation into direct current electricity, which will provide 40 percent of the building’s electric power requirements. The cost of the system will be paid back within five years.
With state funding, WHLH is also upgrading its interior and exterior lighting, at a savings of nearly 50 percent in electricity use for lighting.
“Cape Cod has the second highest electricity rate in the nation after Hawaii,” said Beaumont Solar Company President and CEO Phil Cavallo. “The Beaumont Solar Co. has been developing renewable energy projects for the past four years, including installations in southeastern Massachusetts, and companies like WHLH understand both the environmental need and financial benefits of putting renewable energy to use.”

]]> http://nextlevelcommercialre.com/falmouth-building-outfitted-with-%e2%80%98most-efficient%e2%80%99-solar-panels/feed 0 Yacht Haven Under Agreement For $9.9M http://nextlevelcommercialre.com/yacht-haven-under-agreement-for-9-9m-2 http://nextlevelcommercialre.com/yacht-haven-under-agreement-for-9-9m-2#comments Mon, 21 Dec 2009 22:03:04 +0000 admin http://www.bostonpropertyconnection.com/?p=221 Yacht Haven Under Agreement For $9.9M
By Paul McMorrow
Banker & Tradesman Staff WriterToday

Boston’s Yacht Haven marina

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Click here to read more about the history of the Yacht Haven auction.
Boston’s Yacht Haven marina is under agreement and is slated to sell for an eye-popping $9.9 million in January, federal bankruptcy court documents show.

The sale price is nearly $2 million more than the $8 million credit bid that North End marina’s current owner, Northern Bank & Trust, paid at bankruptcy auction in August. No private bidder came close to matching that price at auction, with most bidders quitting the action at $5 million.
The $9.9 million figure is also close to the $10.1 million face value of Northern Bank’s 2005 mortgage on the 4.75-acre property.
According to a purchase and sale agreement on file with the bankruptcy court, Northern Bank has set a Jan. 8 closing date for the property. The buyer is Boston Boat Basin, LLC.
Paperwork on file with the secretary of state’s office shows Boston Boat Basin is controlled by prominent Newburyport developer Charles Lagasse. The LLC shares an address with Newburyport Development, a unit of Steve Karp’s New England Development. Neither Lagasse nor New England Development could be immediately reached for comment.
At the August auction, many attendees argued the marina’s former owner, Yovette Mumford, had grossly overpaid for the waterfront property. Mumford, the former sister-in-law of Congressman Ed Markey, took the waterfront gem from Modern Continental for $11.7 million in 2005. Auction attendees told Banker & Tradesman that Yacht Haven’s marina business wasn’t worth nearly that much, and that Mumford could have only justified the purchase price by redeveloping the site and operating it in violation of a series of deed restrictions.
The marina’s Commercial Wharf neighbors appear to believe that is still the plan. A bankruptcy court motion filed today by the Commercial Wharf East Condominium Association argues Northern Bank is attempting to sell the property free of any litigation currently attached to the site. The condo association’s land court suit restricted the marina’s parking and barred Mumford from operating the business as a restaurant, bar or function hall. The bank has also asked the bankruptcy court to bar the state’s land court from maintaining jurisdiction over deed restriction disputes. That, the condo association’s brief argues, would amount to an end-run around the site’s deed restrictions, making it much more valuable.
Northern Bank has rebutted this argument, telling the bankruptcy court that Boston Boat Basin has “repeatedly announced its intention to abide by” the restrictions.

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