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The Boston Globe

Metro

Figures show limits to Tisei’s worth

On Memorial Day weekend in 2006, then state Senator Richard R. Tisei and his business and life partner, Bernard F. Starr, celebrated more than five years of selling North Shore real estate by moving their firm into a new office building they constructed at a prime location just off Route 128 in Lynnfield.

But by then a once booming market was already slowing, and home sales in Lynnfield plummeted by 50 percent that year, burying Tisei and his firm, Northrup Associates, in losses. In 2006 and again in 2008, Tisei’s real estate setbacks outweighed his state salaries of $65,000 and $85,000, erasing his obligation to pay federal income taxes.

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