Boston Realty Advisors Brokers Various Multifamily Communities in Boston

By Veronica Grecu, Associate Editor

A fully renovated multifamily property in Allston was recently acquired by The Mount Vernon Company in a transaction brokered by Boston Realty Advisors. Located approximately five miles from Boston, at 1322 Commonwealth Avenue, the asset consists of a fully leased, three-story building with 16 apartments—in a mix of one- , two- and three-bedroom units—and a surface parking garage for nine vehicles.

1322 Commonwealth Avenue – Allston MA

In 2010 Multi-Housing News Online reported that the property received $1.88 million under the Fannie Mae DUS Small Loan product line. The 10-year loan was originated by Arbor Commercial Funding LLC.

The Mount Vernon Company also grabbed a portfolio of 55 apartment units located in three separate buildings in Boston. Boston Realty Advisors’ multifamily team of Jason Weissman, Christopher Sower and Jennifer Price brokered the sale. Reportedly, the portfolio consists of 44 units at 40-44 Parker Hill Avenue and 198 Hillside Street in the Mission Hill neighborhood, and 11 units in a single building located at 179 St. Botolph in the Back Bay.

Earlier this month, Boston Realty Advisors sold a fully permitted property located at 373 Commonwealth Road in Wayland, MA, directly off of Commonwealth Road (Route 30, with easy access to 1-95 and the Mass Pike(I-90). The 2.5-acre property, which has been approved for a residential project with 52 units, sold for $2.9 million to developer Ronald Simons, according to The Real Reporter. Commonwealth Residences will feature a three-story building with four studios, 22 one-bedroom units, 22 two-bedrooms and four three-bedrooms.

Image via Google Street View