Boston, MA — Cornerstone Realty Capital recently arranged $5 million in financing for a five-story brownstone in historic Beacon Hill, just a short distance away from the Massachusetts State House.
The recently renovated lodging house features (11) units with modern updates to both the kitchens and the bathrooms, putting it in above average condition compared to similar properties in the area. The classic brownstone features (2) studios and (9) one-bedroom, one-bathroom units.
All units have hardwood floors, soaring ceilings and air conditioning, as well as granite countertops and a large kitchen island. Although it was renovated, the property still includes many of its original finishes that are classic to Beacon Hill properties. Property amenities also include a rear brick patio and shared laundry in the basement.
Well-known for its iconic architecture, Beacon Hill is one of the most picturesque districts in downtown Boston. Upscale and full of history, Beacon Hill has a lot to offer to its occupants within the immediate area. Beacon Hill is located in the heart of Boston, with access to almost all the city has to offer. In just a short walk, occupants can hop on any of the subway lines with the Red, Green and Blue lines all under 10 minutes away, and the Orange line within 15 minutes away.
And with the Financial District and Back Bay just a short distance from Beacon Hill, occupants will love the ease of commute, without needing a car, to and from some of New England’s best employment opportunities. There are a number of outdoor spaces to explore not far from the property’s front door with the Boston Commons just under a half mile away, the Boston Public Garden about a 12-minute walk away and the Charles River Esplanade about a mile away, offering a variety of parks, running trails, playgrounds, sailing, kayaking, and more. The property is about a quarter of a mile away from a Whole Foods, CVS and a number of gyms, as well as Massachusetts General Hospital and many of its affiliated specialty practices. Due to its close proximity to all Boston has to offer and its charming features, it’s easy to understand why Beacon Hill is consistently one of the most desired neighborhoods to reside in.
Paul Natalizio, President of Cornerstone, stated that, “The idyllic condition of the property along with the growingly rare denomination as a lodging house made this property an incredibly valuable asset even when compared to the many high-value properties within the Beacon Hill neighborhood. The strength of the fully leased and fully renovated property fostered a competitive environment between lenders resulting in the best possible terms for our client including 12 months of interest only and a low fixed rate.”