Cornerstone Realty Capital arranges $9 million for the refinance of a 23-unit apartment building

January 14, 2022 - Financial Digest

Boston, MA Cornerstone Realty Capital arranged $9 million for the refinance of a 23-unit apartment building located at 1 Newcomb St.

This property consists of a newly constructed six-story apartment building. The unit mix consists of layouts ranging from studios to four-bedroom/three-bathroom units across a total living area of 16,750 s/f. The thoughtfully designed, light-filled units feature high ceilings with floor to ceiling windows, views of the city, energy star appliances, and room-specific climate control. For easy living, units include keyless access and on-site Amazon Hub Lockers for package management. Interior finishes include quartz countertops, vinyl flooring, attractive light fixtures, hardwood cabinetry, subway tiled backsplashes, along with stainless-steel refrigerators, microwaves, and gas stoves. The building features a lobby with elevator access to the upper-level floors.

The property offers state-of-the-art living along the historic Washington St. Corridor. The area includes proximity to transit lines, parks, grocery stores, and some of the city’s best restaurants a short walk away. Residents are provided easy access to the MBTA’s Silver Line at the corner of Washington St. and Lenox St., which offers service to downtown. Popular restaurants and retail options in the immediate area include Toro, Jaho Coffee & Tea, CVS, Flour Bakery & Café, and Bar Lyon, to name a few. The property is located near Ramsay Park and Madison Park, both of which offer residents plenty of outdoor space, which is an uncommon amenity in the city.

“Working with Cornerstone was once again a pleasant and seamless process,” said Will Avanessian, a founding member of Boston Real Estate Collaborative, “We value our relationship with Paul and his team, and we look forward to working with Cornerstone again.”

Cornerstone delivered an exceptionally low, fixed rate with a 30-year amortization schedule.



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