52

The fate of a historic Northborough mansion may be one step closer to being decided. The White Cliffs Committee has recommended a proposed project to the select board. The proposal would convert the existing house as well as the surrounding property into 52 apartments. If approved, a 45,000-square-foot, three-story building will be built at the rear of the mansion that would be home to a bulk of the apartments and connect to the existing building through a covered walkway. White Cliffs, at 167 Main St., was originally constructed in 1886 by Daniel Wesson, co-founder of firearms manufacturer Smith & Wesson.

$2.65M

The owner of a Marlborough exotic car styling company and a Framingham luxury stone design company purchased 1.5 acres of land off Route 9 for $2.65 million March 3, according to the Worcester Registry of Deeds. Bornbam Associates LLC of Marlborough, the real estate company buying the land at 80 Turnpike Road, is managed by Marcello Mallegni, president and CEO of Marlborough auto customization shop Toy Motorsports and president of Stone Inc., a Framingham-based interior design company. A 28,000-square-foot office building is part of the property absorbed by BornBam, according to Westborough property records. The building dates to 1968.

$10.5M

The 11-story building on Elm Street that is home to Fallon Health and a four-story adjacent building were purchased March2 by Boston-based real estate company Synergy Investments for $10.5 million. The buyer also owns nearby Worcester Plaza, the 24-story glass tower at 446 Main St., purchasing the building for $16.5 million in 2019. The latest deal gives the company more than 500,000 square feet of real estate in the city. The Elm Street sale, for One Chestnut Place and Two Chestnut Place, includes adjacent parking lots. A Fallon spokeswoman said the sale will not affect the health care company.

300

A developer has proposed a 300-unit condominium community off Route 20 in Shrewsbury. Westborough-based Pulte Homes of New England representatives said the project would entail the construction of six buildings in the area abutting Route 20 that is sandwiched between Green and South streets. A Chapter 40B development, the community will be called Emerald Run and will have 75 affordable housing units – a 25% minimum that is dictated by the state, according to Mark Mastroianni of Pulte Homes. All units will be owned by the inhabitants and not rented, which Mastroianni said is a common practice of Pulte Homes.

32.6%

Spring has historically been the busiest time of year for the residential real estate market in Massachusetts. However, David McCarthy, president of the Massachusetts Association of Realtors and broker and operating partner for Keller Williams Boston-Metro, does not think this spring will see the action it has seen in past markets due to the extremely low inventory of homes being listed. Data in the most recent report released by The Warren Group LLC indicates single-family home sales are down 32.6% on a year-over-year basis. This marks the fewest number of single-family home sales for January since 2011.

This article originally appeared on Telegram & Gazette: Business Matters: Central Mass. by the Numbers