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Is Scott Brown Your Landlord?

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Newly minted U.S. Senator Brown and his wife own three condo units on Comm Ave in Brighton, one of which is also owned by his daughter Ayla.  Hey, maybe we all could use some help with our credit scores at this point… paying off a mortgage wouldn’t hurt.

Brown can probably afford it.  In 2008, his reported income was $181,838: $82,549 in salary as a state Senator, $80,975 from his solo law practice, and $18,314 in salary from the National Guard.

From the Globe: the Brown family “owns a four- bedroom, Colonial-style home on a cul-de-sac in Wrentham, which values the property at $549,000; a six-room Cape-style second home they built a quarter- mile from the beach in Rye, N.H., assessed at $472,500; and a timeshare unit in Aruba worth between $10,000 and $20,000. In 2007, they bought three small, income-producing condominium units on Commonwealth Avenue in Brighton, near Boston College, at a total cost of $489,000.

Eagleionline.com has obtained Brown’s financial disclosure to the United States Senate… it’s available here.  A peek into Registries of Deeds provides even more insight.

In April 1993, Brown bought a unit of some sort at 1868 Comm Ave from Newton Oak Park, Inc., for a grand total of $32,417.  I’m guessing that price was for a condo, even though these days that price might make more sense for a parking space.  Less than eight months later, Brown sold the unit (to Li M Bao and Xiaofeng Chen) for a tidy profit of $38,000.

I guess he never stopped loving 1868 Comm Ave, however.

In May of 2007, Brown, his wife Gail, and his daughter Ayla purchased “1868-1880” (full street name: “Commonwealth Ave Unit 1870-8”) for a mere $194,000.  Look, there are a couple of other Scott Browns buying and selling property in the last 20 years in Boston… but wouldn’t it be a colossal coincidence for one Scott Brown to buy and sell a property in 1993, when Senator Scott Brown bought the same property in 2007?  Consider that Brown makes a(n extra) living on real estate deals, and the $7,500 flip job in 1993 doesn’t look so strange.

But wait: there’s more.  Assuming the Globe came up with the $489,000 figure from Brown’s 2007 taxes, why does the 2007 unit deed (Suffolk County Registry of Deeds, Book 41855 Page 281) say $194,000?  Even if $194,000 was for one of three units, the other two only cost $295,000 combined?  I guess it doesn’t really matter, but I don’t get it.

Sweet rent money coming in, I’m sure (except for the Ayla-occupied unit).  I wonder if Brown supported BC’s move into the Archdiocese grounds, which will allow the university to build more student housing and depress the Brighton rental market.

Did Scott and Gail Brown (aka Gail Huff to those of us who watch TV) pay gift taxes when they basically gave a third of $194,000 (at a minimum) to Ayla in 2007?


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