High-Performing Asset with Upside Potential
IRREPLACEABLE DENSITY & URBAN LOCATION
40 Berkeley consists of 168 private guest rooms and 40 permanent rental units, offering investors 208 rooms and +/- 73,133 square feet. Comparable product in the South End does not exist. Furthermore, permitting this level of density in such a high-barrier to entry market is an arduous process with significant risks. With future competition scarce, this is a rare opportunity to acquire a critical mass of units in a world-class urban neighborhood.
Anchored by its broad base of demand drivers, Boston attracted almost 20 million visitors last year alone. The South End continues to draft off these investment fundamentals, further strengthening its dominance within the urban core. As the market accelerates, so too do the aspirations of area developers which is a testament to the stability of the South End. There is currently 1,500 Class A residential units and approximately 650,000 square feet of commercial space of planned development within a five block radius of 40 Berkeley.
The asset occupies a prominent corner directly off the South End’s primary retail corridor with some of Boston’s best shopping and dining destinations. This vibrant mix of restaurants and boutiques attracts residents and tourists alike to the neighborhood.
Please visit 40BerkeleyStreet.com for more information.
Boston Realty Advisors is pleased to offer for sale 40 Berkeley Street, a 208 room, +/-73,133 square foot building located in the historic South End district of Boston. The property currently operates as an entry-level hotel, offering travelers sociable accommodations. Originally constructed as housing for the YWCA, the asset is located within walking distance to public transportation and wide range of amenities in the South End and Back Bay. Rarely is a critical mass of dwelling units, offering irreplaceable density in an ultra-high barrier to entry market, available to investors.
The building stands seven stories above grade, featuring 168 hotel rooms and 40 permanent rentals with the possibility of adding approximately +/- 7,550 square feet of retail space. The asset is ideally positioned for an investor to add value through cosmetic upgrades and the addition of two levels of retail including expansion into an outdoor courtyard.
The property is ideally positioned for a comprehensive rebranding targeting millennial travelers. With unobstructed rooftop views and underutilized common area space, 40 Berkeley offers a variety of repositioning scenarios making this urban investment opportunity a one-of-a-kind asset.
Situated at the corner of Appleton and Berkeley Streets, the building benefits from itsprominent South End location. The property is steps from fine authentic dining and boutique shopping along amenity rich Tremont Street. While located within a mature neighborhood, the asset will be further benefited by the wave of recent luxury development projects in the immediate area.