Boston Realty Advisors complete $16 million sale of 53-unit apartment portfolio

Boston Realty Advisors (BRA) has sold a 53-unit apartment portfolio located in Harvard Sq. for $16 million or $301,887 per unit. The Portfolio in The Square consists of two buildings, 48 JFK St. and 115 Mt. Auburn St. and is comprised of 53 units. BRA represented the seller Drayton Hall LLC. The buyer, Tarragon from Newton, was procured by Ross Duncan-Brown of Hammond Real Estate. Christopher Sower, managing director and partner of BRA said, "The interest in this portfolio was unprecedented with having over 200 groups review the offering. This interest further confirms the demand for urban multi-family opportunities." Jason Weissman, principal and founder of BRA said, "Our investment sales platform of co-operating with the brokerage community helped to facilitate the sale. This approach helps our clients maximize value and exposure to the market." Ross Duncan-Brown said "We are very pleased to have procured the buyer in this highly competitive situation." Founded in 2001 by Weissman, BRA operates a full-service commercial brokerage platform. BRA specializes in selling investment properties throughout New England. The firm's mission is to fill a void in the commercial real estate industry with creative and aggressive marketing.