News: Front Section
Posted: December 17, 2021
Boston Realty Advisors brokers sale of Crimson Court for $30.2m
Cambridge, MA Boston Realty Advisors, one of the largest Boston-based independent real estate brokerage and consulting companies, represented the owners of Crimson Court, a 60-unit multifamily building, in a sale of the property for $30.2 million.
Crimson Court, at 375 Harvard St., is a mix of studio, one bedroom and two bedroom apartments in two five-story buildings with 56 parking spaces. The meticulously maintained real estate asset has had a single owner since it was constructed in 1965.
The buyer was 375 Harvard Street LLC. Seller was Audubon Road Associates CCSPE, LLC. The price per unit was $503,333.
“Never before available for sale, Crimson Court offered investors a generational investment opportunity,” said Kevin Benzinger, director of capital markets for Boston Realty Advisors. “In a world-renowned city like Cambridge, this was a once in a lifetime opportunity for buyers.”
Crimson Court is located between Massachusetts Ave. and Broadway, between busy Harvard and Central Sqs., with a wide range of shopping, restaurants, and other amenities in the neighborhood.
Tags:
Front Section
MORE FROM Front Section
Front Section
McEvoy of The Conrad Group brokers $2.9 million sale of industrial building
Hingham, MA The Conrad Group has brokered the sale of 55 Research Rd., South Shore Park. The property consists of a 20,340 s/f single story manufacturing building on two acres of land.
Columns and Thought Leadership
The doctor is in: How medical leases differ from retail and office spaces - by Brian Cafferty
As healthcare facilities, often referred to as “Doc in a Box” clinics, increasingly move into traditional retail spaces, landlords are more frequently leasing to medical tenants. Unlike standard retail or office leases, medical facilities come with a unique set of considerations that must be carefully addressed to ensure a successful tenancy.
5 Questions to ask when choosing a real estate broker - by Elizabeth Perez Barlett
>They say, “April showers bring May flowers,” but this season may bring more movement in the housing market as springtime is one of the most popular times for home buying and selling. Although spring is one of the strongest seasons for the residential market, it may not be all rosebuds and butterflies if you don’t have the right advisors.
Investing in a falling rate environment - by Harrison Klein
Long-term interest rates have fallen by 100 basis points, and the market is normalizing. In December of 2022 I wrote an article about investing in a high interest rate, high inflation market. Since then, inflation has cooled off, and the Fed has begun lowering their funds rate.
It’s time to get creative with closed college campuses - by Christian Koulichkov
Facing higher costs, shrinking enrollments, reduced state funding and severe demographic headwinds, many colleges and universities in New England and the Northeast are fighting for survival. The latest to lose the battle is the 150 + year old University of the Arts in
