News: Front Section
Posted: December 20, 2019
The Dartmouth Co. and Converge Ventures handle $7.55 million sale
Allston, MA The Dartmouth Co. completed the sale of 35-43 Braintree St. A team led by Peter Considine and supported by Converge Ventures (CNVRG) multifamily team, exclusively represented the seller to close the transaction at a sale price of $7.55 million or $424 per s/f for the 17,797 s/f single-level industrial facility. The buyer was The Mount Vernon Co.
The ongoing, multi-phased Boston Landing project .5 miles from the site as well as myriad other multifamily residential developments have reshaped the landscape of the neighborhood. Braintree St. has been identified by the city as an area with great redevelopment potential to support the revitalization of the neighborhood.
The ½ acre parcel is located with visibility to the Mass Pike, proximity to retail activity as well as MBTA train lines.
“As the first developer of new product in the Allston market, we have long viewed Braintree St. as an exciting location and look forward to introducing a unique concept that the market has not seen before” said Bruce Perlay, chairman and founder of The Mount Vernon Co.
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