Cornerstone Realty Capital arranges $2.7 million in financing for construction of condominium development

March 08, 2024 - Financial Digest

Boston, MA Cornerstone Realty Capital arranged $2.7 million in financing for the construction of a residential condominium development. 

The development will feature six condominiums, a mix of three studio units, one one-bedroom unit, one two-bedroom unit, and one three-bedroom unit. Units will range from 484 s/f to 1,353 s/f. Each of the studio units will be spacious enough to offer a separate living and bedroom area. The two-bedroom and three-bedroom units will both have two bathrooms and expand between the 3rd and 4th floors with a private roof deck. The property will be built to a luxury standard and will feature modern finishes such as hardwood flooring, crown molding, recessed lighting, high-end stainless-steel appliances, quartz countertops, and custom cabinets. The bathrooms will feature hardwood vanities and custom tile surrounds. The appliance package includes in-unit washers and dryers. 

Andrew Saccone, executive vice president at Cornerstone, said, “The sponsor’s experience with similar projects along with the property’s highly sought-after location generated significant interest and a competitive process for finding the right financing solution for our client.”

The property is centrally located next to the Roxbury Crossing Orange Line stop. This location is close to employment, education, and shopping hubs such as the Longwood Medical area, Wentworth Institute of Technology, and One Brigham Circle. In addition, its location gives the benefit of the lively night life and restaurant scene of iconic Tremont St. 

All of these benefits have led to the Roxbury Crossing area to see a lot of re-development and revitalization as an influx of people and businesses alike have seen its potential. Being right next to the Roxbury Crossing stop gives access to all the Orange Line T stops throughout Boston; once on the Orange Line at Roxbury Crossing, it is only a 12-minute commute to Downtown Crossing. The location also provides easy access to major highways like interstates 93 and 90, effectively allowing access to areas north, south, and west of Boston.



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