Bob Dorfman, president of Dorfman Capital, announced the completion of a 20% Massachusetts historic rehabilitation tax credit sale associated with the rehabilitation of The Goldberg Building formerly the Arkus Pharmacy Building, 97-103 Water Street, in Worcester, MA. The building, originally built in 1910, has been fully restored into an office and retail building, which serves as the headquarters of the Worcester Magazine and the Greater Worcester Land Trust as well as the location of the restaurant, Jose Murphy’s. The developer of the building is JAML Realty Trust, which is managed by John Giangregario.
The building is the first of a number of rehabilitation projects in what is referred to as Blackstone Canal District. The building is listed on the National Register of Historic Buildings.
Owners of properties listed in the National Register may be eligible for a 20% federal investment tax credit and state historic tax credits for the certified rehabilitation of income-producing historic structures such as commercial, industrial, or rental residential buildings.
About Dorfman Capital
Dorfman Capital specializes in accessing low cost debt and equity capital for successful real estate developers and corporations through innovative finance programs. Dorfman Capital works with entrepreneurs and investors for business expansion and historic preservation to create economically and environmentally healthy communities so that people can reach their full potential. Areas of expertise are government guaranteed financing, tax exempt and taxable debt financing, venture capital and tax credit financing.