Rehabilitation and buikd out of 25,000 sqft cpmm condo in the south end was purchased in 2013 in an off-market transaction. The beautiful brick and beam structure was partially tenanted and in need of renovation including a new lobby, tenant fit out and mechanical upgrades which we completed.
Through an aggressive marketing campaign, we were able to sell half of the unit to a tenant user and lease the remaining half. The entire project was re-positioned, leased/sold and refinanced for a very attractive return on capital in under 18 months.
PROPERTY AT A GLANCE
519 Albany St | Boston MA
Project Type: 25,000 SF commercial condominium
Date Acquired: 2012
Total Project Cost: $2.0M