Boston Multifamily Property Sells for $2.59M at $1,203 Per Square Foot
1607 Tremont St, Boston, MA, USA sells for $2.59M to undisclosed buyer with the help of unnamed brokers.
A multifamily property located at 1607 Tremont St, Boston, MA, USA has been sold for 2.59M at a price of 1,203 per square foot. The deal was closed on September 13, 2021, with the help of unnamed brokers. The property has a total square footage of 2,152 and is classified as a multifamily asset.
The property is located in the Mission Hill neighborhood of Boston, which is known for its diverse population and proximity to several universities. The property is a three-story building with six residential units. Each unit has two bedrooms and one bathroom, and the building has a total of 12 bedrooms and six bathrooms.
The seller of the property is unknown, as the deal was done off-market and the brokers involved have not been named. The buyer is also undisclosed, but it is known that they are a private investor looking to expand their portfolio in the Boston area.
The sale price of 2.59M at 1,203 per square foot is considered to be a high price for the area, but it is reflective of the strong demand for multifamily properties in Boston. The city has seen a surge in demand for rental properties, especially in areas close to universities and public transportation.
The brokers involved in the deal are also unknown, but it is likely that they were local brokers with knowledge of the Boston market. The lenders involved in the deal have not been disclosed.
Overall, the sale of 1607 Tremont St, Boston, MA, USA for 2.59M at 1,203 per square foot is a testament to the strong demand for multifamily properties in the Boston area. The property’s location in the Mission Hill neighborhood and its proximity to several universities make it an attractive investment for private investors looking to expand their portfolios in the area.