BROOKLINE, MA — Cornerstone Realty Capital arranged $2.9 million in financing for the purchase and renovation of a multi-family property in Brookline, MA. The property is a 3-unit building, with each unit consisting of 4 bedrooms and 2 bathrooms.
The units will be fully renovated, with a list of improvements that includes upgraded kitchens and bathrooms. Upon completion, the units will be sold as condominiums.
The property is located in Coolidge Corner, situated near Storrow Drive and the Mass Pike. The convenient access to Boston adds great value to the property, as Brookline is one of the most sought after towns for Boston commuters. The property also benefits from its proximity to all of Coolidge Corner’s amenities.
The neighborhood has long been one of Brookline’s biggest draws. Defined by its unique architecture and traditional neighborhood retail mix, Coolidge Corner retains a pedestrian-friendly atmosphere that the entire community can enjoy. Throughout the neighborhood, there are many popular independent boutiques, coffee shops, and cultural restaurants to satisfy a broad range of tastes.
The Coolidge Corner Theater, a film house specializing in independent and international films, adds to Coolidge Corner’s varied entertainment blend. It has been a landmark of the neighborhood since its opening in 1933, and attracts many people to the area for its unique entertainment experience. Its location within one of Greater Boston’s finest neighborhoods, along with the high quality of the condominiums, makes the property very desirable for prospective residents.
Brett Pagani, Executive Vice President of Cornerstone, commented “The property’s location in Coolidge Corner, along with its access to Boston, are some of the asset’s greatest strengths. Paired with the Borrower’s planned high-end renovations, the property has exceptional value that was able to attract excellent financing.”