Plumbrook Capital’s mixed-use property buy represented by Tiberi of Core Property Group and Brody of Douglas Elliman is awarded 2025 sale of the year for Boston and is awarded Costar impact award

Boston, MA Giancarlo Tiberi, founder and principal broker at Core Property Group, a Bostonbased boutique brokerage specializing in investment real estate, and Craig Brody of Douglas Elliman represented buyer Plumbrook Capital of New York City in the sale.

 

 

Tiberi began his real estate career nearly two decades ago renting apartments — a role that provided the foundation for his future success.

“Renting apartments taught me how buildings operate, what drives rents and how to deliver value to landlords and investors,” Tiberi said. “That experience shaped how we approach every deal today.”

Brody said the “deal required patience, creativity and collaboration. It’s a perfect example of how strategic teamwork and persistence can lead to exceptional results.”

It’s that patience and persistence that helped the deal earn a CoStar Impact Award, as judged by local real estate professionals who know the market. 

 “This deal exemplifies our strategy of targeting value-add residential and mixed-use real estate investments in supply-constrained Boston area submarkets”, said Patrick Mullen, Co-Founder and Managing Principal of Plumbrook Capital. “The expertise, creativity and deep market knowledge of Messrs. Tiberi and Brody helped us achieve an outstanding execution.”

About the project: The building offers 19,243 square feet of multifamily space, 3,111 square feet of retail and 1,760 square feet of office space, according to CoStar data. There are 17 residential units in total.

Built in 1900, the property has undergone numerous renovations and capital improvements: “We renovated every unit, updated the common areas and replaced the roof, Laura Veo said.

What the judges said: “139 Richmond Street stands out as the winner because it achieved a record breaking $17.025 million sale — the highest single building transaction ever recorded in Boston’s North End, making it uniquely impactful within the market,” said Stephanie Donlin, senior director of Real Estate at Greystar Real Estate Partners. “The deal required years of persistence, creative structuring and deep local expertise.”

Mark Fallon, director of research and strategy at Hunneman, said the sale “exemplifies the strength of Boston’s multifamily market. At a time when [commercial real estate] fundamentals remain challenged across a variety of asset classes nationwide, this record setting transaction indicates the depth of demand for multifamily assets in the region — a testament to the city and its residents.”

They made it happen: Giancarlo Tiberi of Core Property Group and Craig Brody of Douglas Elliman’s Newbury Street office jointly represented the buyer in the transaction.