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A parking lot at 224 Shrewsbury St. in Worcester has been purchased by a realty trust managed by the Auburn developer proposing a 218-unit apartment complex across the street.
The trust, 224 Shrewsbury Street Realty Trust, finalized the $1.6-million sale of the parking lot on Dec. 2, according to the Worcester District Registry of Deeds. Lundgren Equity Partners LLC is listed as trustee on the trust.
Lundgren Equity Partners has proposed a 218-unit multifamily apartment building at 225 Shrewsbury St., across from the newly-acquired lot.
The property is currently being used as a private parking lot by the nearby Shields MRI at UMass Memorial.
The seller of the 28,000-square-foot parking lot was Skyhawk Realty, LLC of Shrewsbury, registered to Jonathan Glick. The property has been owned by the Glick family since Bancroft Motors acquired the property from Laipson’s Ice Cream Bar Inc. in 1968.
In 2007, the family sold Bancroft Motors, which was founded in 1939.
The City of Worcester appraises the parking lot at $388,600.
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