Boston Realty Advisors (BRA) has sold 40-46 Park St., a 25-unit apartment building for $7 million ($280,000/unit) to the buyer Micozzi Management.
40-46 Park St. is a 25-unit, three-story brick building. The unit mix consists of 3 studio, 11 one-bedroom and 11 two-bedroom apartments. The building's location offers access in and out of Boston on the Mass. Turnpike (I-90) as well as express MBTA bus service to Boston's South Station. The immediate area also boats numerous amenities including Whole Foods Market, Walgreen's Pharmacy, and the Arsenal Mall.
Christopher Sower, managing director and partner of BRA, said, "This was a great transaction and shows the strength of the multi-family market in the Boston Area. Both seller and buyer were a pleasure to work with."
Jason Weissman, principal and founder of BRA said, "Newton is a great submarket for multifamily. The market is supply constrained and Newton's close proximity to Boston makes it extremely desirable."
BRA is a privately held commercial brokerage firm based out of Boston Massachusetts. BRA specializes in the sale and leasing of investment and commercial properties throughout New England.