Malden, MA Burgess Properties Inc., has brokered the sale of 11 Charles St. for $3.9 million.
The buyer, SL Realty Holdings LLC, plans to demolish the single-story 17,000 s/f building and build a new multi-story office building, possibly offering first-floor retail space, on the 1.12 acre site. The existing building had been the long-standing home of Ryan Amusements bowling alley.
Steve Nohrden of Burgess Properties, Inc. represented the seller, 11 Charles Street Realty, LLC and James Riccardi of Keller Williams represented the buyer, SL Realty Holdings LLC.
Supply chain delays are slowing construction, ratcheting up operating costs, and extending turnover timelines across Greater Boston, directly reducing revenue and increasing the workload for multifamily and