Boston – CBRE/New England’s Capital Markets team announced the sale of 14 Centre Street, a 17-unit apartment building located between Central Square and Harvard Square in Cambridge, Massachusetts for $11.85 million.
CBRE/NE represented the seller, Cambridge Centre, LLC., an affiliate of Chestnut Hill Realty.
CBRE/NE’s multi-housing experts Simon Butler, Vice Chairman/Partner, and Biria St. John, Vice Chairman/Partner, exclusively represented the seller and procured the buyer. “We are pleased to have facilitated this transaction on behalf of the seller,” said CBRE/NE’s Biria St. John. “14 Centre Street represents a terrific value-add opportunity in an unmatched location.”
The unit mix is comprised of nine one-bedroom apartments and eight two-bedroom apartments with an average overall unit size of 1,159 SF. 14 Centre Street is a four-story brick building, originally built in 1910.
Chestnut Hill Realty is one of New England’s leading residential real estate companies, specializing in multifamily housing. Established in 1969, CHR owns and manages 5,000 units in 32 apartment home communities in Greater Boston and Rhode Island.