March 23, 2011 - Bob Dorfman, president of Dorfman Capital, announced the completion of a Massachusetts historic rehabilitation tax credit sale associated with the rehabilitation of East Mill, the former Davis & Furber machine shop complex in North Andover, MA. RCG LLC, the developer of the building, specializes in creating out-of-the-ordinary and environmentally friendly places to live and work at reasonable prices.
The building is located in North Andover’s Machine Shop Village, a neighborhood Conservation and Historic District. The 235,000 square foot building, originally built in 1850’s, has been restored into diverse mix of retail businesses, restaurants, first class office space, and residential apartments.
Owners of properties listed in historic districts may be eligible for a 20% federal investment tax credit and state historic tax credits for the certified rehabilitation of income-producing certified historic structures such as commercial, industrial, or rental residential buildings.