Greater Boston Two-Property Multifamily Portfolio Sold for $24M
A multifamily portfolio in Newton and Allston, Massachusetts, was sold for a total of $23.55 million. The 59-unit portfolio comprises the Newton property at 175 Adams St., offering a mix of one-bedroom and two-bedroom units, and the Allston property at 80 Gardner St., which includes 28 units and ample parking spaces. The name of the buyer and seller was not disclosed.
Evan Griffith and Tony Pepdjonovic of Marcus & Millichap, along with Matthew Petty of Frame Residential, handled the listing and represented both the seller, a private family, and the buyer.
“Unique generational apartment building portfolios like this do not come to market often, and when they do we see a great response from the investment community with over 40 tours at each property and a competitive bidding process,” said Griffith.
Emily Fu is Content Director of Connect Commercial Real Estate, where she covers the east coast markets, including New York, Boston & New England, and DC & Mid-Atlantic markets. She produces daily news stories as well as longer-form content, ranging from Q&As to thought-leadership pieces. She also writes feature stories for Connect Money.
With previous stints at Reuters, Seeking Alpha, and Commercial Observer, Emily has covered the finance side of the commercial real estate industry, technology, media, telecom (TMT), and fashion. She attended the Columbia Graduate School of Journalism and currently resides in Manhattan.