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News: Front Section
Posted: January 22, 2021
Kelleher and Pentore of Horvath & Tremblay broker $15 million sale of The Residences at Trowbridge - a 28-unit apartment building
Cambridge, MA Dennis Kelleher and John Pentore of Horvath & Tremblay have completed the sale of The Residences at Trowbridge, a 28-unit apartment building. The duo exclusively represented the seller and procured the buyer to complete the transaction at a sale price of $15 million, which is $535,714 per unit.
The Residences at Trowbridge are located at 16-18 Trowbridge St. Situated just outside of world-renowned Harvard Sq., the multifamily property is a generational asset containing a critical mass of units in one of the country’s best performing rental markets. The four-story, mid-rise apartment building contains 28 units in 23,128 s/f of living area on a 0.32-acre parcel. The property features brick construction, off-street parking for all units, separately metered electricity, a coin-operated laundry room, and an elevator for tenants. Recent capital improvements to the property include updated common hallways, new concrete front steps and repaving of the entire parking area (2019).
The highly-walkable location is close to the Red Line at Harvard Station, Central Sq., Inman Sq., Kendall Sq., and MIT. The property is strategically located in between the main corridors of Mass. Ave. and Harvard St.
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