After renovations, Worcester developer flips Framingham complex with $7.5M sale
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301 Grant St. in Framingham
A year and a half after purchasing a Framingham apartment complex for $6.2 million, Worcester-based property developer Michel Ermani has sold the 30-unit site for $7.5 million.
The site located at 301 Grant St. was sold to Massachusetts-based 301 Grant LLC and Delaware-based 526 Western Ave LLC in a deal finalized on April 11, according to Middlesex South Registry of Deeds records. Zanzibar Capital Group, a Boston-based real estate firm, was the buyer.
Ermani purchased the site through Premier Investment Properties LLC, his Worcester-based entity. He said he made significant improvements to the property and is selling it to focus more on the Greater Worcester market.
“The timing worked out perfectly with this particular situation,” Ermani said. “I made a lot of improvements to the apartment complex. I believe the buyer is getting himself a great property.”
Ermani has been growing his Worcester real estate portfolio in recent years, including his September 2024 purchase of six Plantation Street neighborhood properties for $4.12 million and his September 2023 purchase of a 30-unit market-rate apartment complex at 31 Caroline St. for $6.3 million.
Ryan Quinn, a realtor from Boston-based Grove Property Group, represented the sellers in the Framingham transaction, according to Ermani.
The 1.21-acre property at 301 Grant St. was given a tax assessment value of $4.41 million for 2024, according to City of Framingham property records.
Eric Casey is the managing editor at Worcester Business Journal, who primarily covers the manufacturing and real estate industries.
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