Waltham, MA NAI Glickman Kovago & Jacobs has brokered the sale of a mixed-use portfolio located in downtown. The assemblage, which includes 550 Moody St., 560 & 570 Moody St., 10 Myrtle St., 11 Alder St., and 90 Cherry St., sold on August 1st for $9.29 million.
Comprising a mix of residential and retail units across five contiguous parcels and one adjacent property, the portfolio presents a rare, transit-oriented investment opportunity in one of Greater Boston’s most vibrant and evolving downtown corridors. In total, the site includes five retail storefronts which include tenants such as Coldwell Banker, Koko Dental, and Point Insurance, and contains 18 market-rate residential apartments, and on-site surface parking, offering strong in-place income with long-term investment potential.
NAI Glickman Kovago & Jacobs vice president Tim Whittredge and principal Mike Jacobs assisted in representing the seller LJB, LLC in the transaction. The property owners had declared Chapter 11 Bankruptcy during the initial marketing of the property. Through the bankruptcy process, both brokers worked in tandem with court appointed trustee to assist in sourcing stalking horse bids and ultimately finding multiple bidders in which the entity 550 Moody, LLC secured the highest and best bid of $9.29 million on the property.
