Millerd, Smith, Penman and Torto of NKF broker $14 million sale

Cambridge, MA Newmark Knight Frank (NKF) has completed the $14 million sale of the leased fee interest at 9-15 Brattle St. On behalf of a private family trust, vice chairman Geoffrey Millerd, managing director Justin Smith, director Paul Penman and financial analyst Samantha Torto of NKF’s Boston Capital Markets team – which is led by co-head of U.S. Capital Markets, Robert Griffin – oversaw the transaction of the 23,792 s/f site, which is subject to a long-term, triple-net ground lease with 57 years remaining.

 

 

 

 

9-15 Brattle St. is improved with a 117,640 s/f mixed-use building anchored by The Harvard COOP, a publicly accessible bookstore and café featuring the largest selection of officially licensed Harvard logo clothing and gifts in the world, in addition to The Gap, Beat Brew Hall and The Sinclair, a popular music venue and restaurant. 

“9-15 Brattle St. represented a unique offering providing long-term, bond-like income within Harvard Sq., a world-class retail destination,” said Penman. “It therefore served as a truly generational opportunity within a city that rarely sees such high-profile offerings come to market.”