BOSTON – Boston Realty Advisors, the largest Boston-based independent real estate brokerage firm, is exclusively representing the owners of 577 Massachusetts Ave. in Boston for sale of the building.
The handsome bowfront brick 577 Mass. Ave. is located in the South End between Shawmut Avenue and Tremont Street, situated in one of Boston’s most popular and diverse neighborhoods.
The brownstone building, totalling 5,500 gross square feet on five floors, offers an desirablelodging or redevelopment opportunity for investors. Formerly a recovery house, this space can be rezoned and reconditioned to fall in line with classic South End residential apartments or condos.
“This building offers a unique opportunity to acquire a historical brownstone in one of Boston’s fastest-growing neighborhoods with promising investment upside,” said Matt Ericson, Associate Analyst of Boston Realty Advisors.
“The property has seen great interest from individual and institutional buyers alike since its market launch and is expected to have a competitive bid process,“ Ericson said.
The owner is Community Resource for Justice.
The South End has become one of Boston’s most premier submarkets, home to historical Victorian brownstone buildings, a vibrant arts community, and some of the city’s most popular restaurants. Located just minutes from Back Bay and downtown, the South End offers immediate access to other parts of Boston while having a unique local neighborhood feel.
The building is within walking distance of several grocery stores, the area’s premier restaurants and nightlife spots, and several local green spaces.
“It is perfect for commuters, reverse commuters, and anyone looking to get around the city easily,” said Ericson. The MBTA offers several bus stops in the immediate vicinity, as well as the orange line Mass Ave T-stop. This location also has easy access to I-93 through the Mass Ave connector.
A new project approved for development, Exchange South End, will add to the area’s life science and retail offerings as well. It will bring a new look and feel to the neighbourhood, with 1.6 million square feet of mixed-use development, and drive increased investment in the submarket.
Other gathering spots and amenities in the area include Yunnan Kitchen, El Centro, MIDA, SRV Boston, Five Horses Tavern, Shun’s Kitchen, FoMu, Flour Bakery + Café, Toro Boston, Jaho Coffee Roaster & Wine Bar, Whole Foods, Shawmut Grocery, Tropical Foods, and Liriano Grocery.
The property is available for sale on an unpriced basis. Boston Realty Advisors is conducting tours of the property, with a call for offers to follow.
Read full article on YahooTags: 577 Mass Ave, andrew herald, Boston, Boston Commercial Real Estate, Boston Commercial Real Estate News, Brownstone, Capital Markets, Daniel Dewing, Jason Weissman, Kevin Benzinger, Matt Ericson, Nicholas Herz, Ryan McDonald, South End