Cushman & Wakefield has arranged the sale of 133 Salem Street, the former West Revere Health Center, in Revere, MA.  The 140-bed former nursing home sold for $4.6 million, which equates to $76 per square foot.

A Cushman & Wakefield team of Bruce Lusa, Chris Sower, Jon Bryant, John Flaherty, Kevin Jones, Julie Regan and Mary VanNatta represented the seller, Capital Funding Group, Inc., in the transaction.

The property was acquired by Chelsea, MA-based Broadway Capital, Inc., which intends to redevelop the property into owner-occupancy condos. 

133 Salem Street is currently a three-story, 59,000 square foot former skilled nursing facility with a 140-bed capacity that is well-suited for housing units. “The 133 Salem Street project is an exciting opportunity for Revere homebuyers,” said Brian Arrigo, Mayor of Revere. “Partnerships with private investors have a profound impact on our city’s ability to grow responsibly while addressing the needs of our residents.”