NY Investors Buy Block of Cambridge Buildings

CAMBRIDGE, MA-A block of buildings in this city’s Central Square has been sold to the principals of Meritage Properties. The assets were sold by local businessman Arnold Goldstein, and include 479, 485 and 493 Massachusetts Ave., as well as 49 Bishop Allen Dr.

Efforts to contact Meritage principal Andrew Nathan at his office in Scarsdale, NY and the sellers by press deadline were not successful. The Massachusetts Avenue buildings traded for $9.5 million, while 49 Bishop Allen Dr. and 30 Fisk Place went for $575,000. The acquisitions were financed with an $8-million loan from Wells Fargo Bank.