Somerville, MA Dennis Kelleher and John Pentore of Horvath & Tremblay completed the sale of 1 Beacon St. for $3.425 million. Kelleher and Pentore exclusively represented the seller, 1-3a Beacon St LLC, and buyer, 42 North Capital, LLC.
1 Beacon St. is a three-story, mixed-use property containing two, street-level retail units (Starlight Lounge and Parlor Sports) and four, three-bedroom residential units. The property contains 7,010 s/f of livable area, within 10,596 s/f of gross area, on a .13-acre corner lot. The Beacon St. asset is located one block from the Inman Sq. intersection at Cambridge and Hampshire Sts. The high-density neighborhood is home to services, retailers, dining, drinking and entertainment options, all of which make Inman Sq. one of the most desirable places to live in the area.
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