143 Ridgewood Condos Sold in one fell SWOOP…
Uncas LLC and 127 No. Main St. LLC have purchased almost half of the condos at the Ridgewood Condominium Complex. Purchase price was just over $121,000 each for a total purchase price of just over $17 million. The deal closed a couple of weeks ago. There are 288 condos at Ridgewood, located off Pearl Street in Gardner.
Real estate prices have gone up in the past few years. Back in 2021, a unit at the Ridgewood complex sold for under $80k. Right now, a single 2 bedroom unit is on the market for $169,100. 1 bedroom units have sold recently for as much as $160k. One could say that by buying in bulk, the entity which purchased many units at once got about a 25% discount.
As far as the state of Massachusetts goes, these are bargain condos as the median price in the state exceeds $500,000 and prices year over year are up about 5% or so.