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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.”
- ◦Sale/Acquisition