Griffith and Pepdjonovic of Marcus & Millchap broker $5.825 million sale

Allston, MA Marcus & Millichap completed the sale of he Raymond Townhomes, a six-unit apartment building, according to Thomas Shihadeh, regional manager of the firm’s Boston office. The asset sold for $5.825 million.

 

 

Evan Griffith, senior vice president investments, and Tony Pepdjonovic, senior vice president investments, in Marcus & Millichap’s Boston office, had the exclusive listing to market the property on behalf of the seller, a limited liability company. The Griffith Pepdjonovic Group also secured the buyer, a limited liability company.

The Raymond Townhomes consists of six (five-bedroom 2.5-bathroom) townhomes with 14 parking spots. The property is located near the Harvard University Campus. This townhome development was built in 2011 and offers tenants unique layouts with outdoor space.

According to Griffith, “Lower Allston has been one of the hottest submarket’s in all of Boston with over 1 million s/f of life science and biotech campus space in construction coming online. The flow of capital into this area continues to be steady as other companies look to build on the synergy of Harvard Business School and Harvard School of Engineering a couple blocks away.”