Developing a plan for Boston Street property

LYNN — The property at 201 and 203 Boston St., which has been vacant and unkept since 2014, was recently sold, according to a document provided by the Assessing Department.

The property was sold for $500,000 to Pine Grove LLC at 82 Andover St., Peabody, according to the document.

It was previously owned by Marc Kadis, who bought the property for $147,652 in 2014 after it was foreclosed on in 2012, according to the document.

Sarkis Kavlakian, the realtor whose banner is now on the front of 201 Boston St., did not provide the name of the buyer, but said the investor owns about an acre surrounding the property.

He added that the investor has no definitive plan for the property, but is exploring their options and considering how it could be developed within the limits of what the city will allow.

Landscaping next to the property has begun, and Kavlakian said the next step will be for the buildings to be demolished.

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