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Griffith Pepdjonovic Group Arranges East Boston Sale

Marcus & Millichap closed the sale of Bennington Arms, a 28-unit multifamily property located at 720 Bennnigton St. in East Boston, MA, for $7.3 million. Buyer and seller were disclosed.

“Bennington Arms presents a rare opportunity to acquire a 28-unit property that is 50% renovated, with potential for significant returns through strategic renovations and upgrades to the unrenovated units and common areas,” said Evan Griffith, SVP investments.  

Griffith and SVP Tony Pepdjonovic of the Griffith Pepdjonovic Group of Marcus & Millichap marketed the property on behalf of the seller and procured the buyer.   

“We continue to see substantial capital for new development earmarked for this Orient Heights neighborhood and the areas surrounding the old Suffolk Downs site,” said Pepdjonovic. “The buyer will be able to greatly benefit as the market evolves and mimics the transformation we saw in the waterfront areas of East Boston.”

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Marcus & Millichap's GriffithMarcus & Millichap's Pepdjonovic

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition