May 26, 2016 – Dennis Kelleher and John Pentore, of Horvath & Tremblay, have arranged the sale of 62 Spring Street in Cambridge, Massachusetts. The property sold at a price of $2,050,000 and a record setting price of $553 per square foot.
Located steps from booming Kendall Square, 62 Spring Street is also within a five minute walk to Lechmere T Station. Kendall Square is one of Greater Boston’s best places to live, work and play. It is home to the world’s greatest research institution, the Massachusetts Institute of Technology. Adding appeal to this location is the properties close proximity to the Cambridge Side Galleria, giving any prospective tenant multiple options to shop and dine. The three-storied brick building was built in 1955 and consists of 3,705-square feet of living area and 4,940-square feet of total gross area on a 0.144 acre lot. The property is comprised of (6) one bedroom/one bathroom units with the landlord responsible for central gas heat and hot water, while tenants pay for their own separate electric. In addition, the property provides approximately (10) off street parking spaces, two of which are designated for Zipcar.
Horvath and Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in New England. Our advisors specialize in the sale of apartment buildings and mixed-use properties. We have experience successfully structuring portfolio sales and 1031 exchanges. We have a dedicated buy side desk that provides real time inventory and market data to each individual client placing capital or fulfilling a 1031 exchange requirement. The firm is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.