Coldwell Banker Facilitates Boston Off-Market Transaction for $10M
Coldwell Banker Commercial NRT has completed the off-market transaction of the former Corey Hill Nursing Home on Corey Road in Boston. The transaction was valued at $9.5 million.
Todd Glaskin with Coldwell Banker was the facilitator in the transaction. The buyers, GFC Development and 249 Corey Acquisition, LLC, intend to replace the nursing home site with a 34-unit multifamily property and two single-family homes.
“The demand for new construction residences has never been greater,” said Glaskin. “After the COVID-19 pandemic shortened building cycle, investors are rediscovering all that the Boston market has to offer, including access to young professionals entering the workforce and empty nesters seeking to downsize.”
Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group.
When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as he makes the transition from an utterly failed racehorse to a lovely show hunter.