November 9, 2022 – Dennis Kelleher and John Pentore of Horvath & Tremblay have successfully completed the sale of a 20 Sheafe Street, an 11-unit apartment building in Boston, Massachusetts. The desirable asset sold for $8,600,000 and $781,818 per unit.
Centrally located in the heart of the North End and 0.4 miles to Boston’s North Station, 20 Sheafe Street is an outstanding core asset in an incredible urban-infill location in one of the strongest real estate markets in the Country. The Property consists of a turn-key, five-story, brick building with eleven (11) units comprised of one (1) 4-Bedroom/1.5 Bathroom unit, five (5) 3-Bedroom/2-Bathroom units and five (5) 3-Bedroom/1-Bathroom units with 10,478 square feet of living area in 13,309 square feet of total area on a 0.05-acre parcel. 20 Sheafe is fully occupied and was comprehensively renovated in 2017 featuring a new roof and new windows as well as a new electrical and gas service. Unit features consist of condo quality finishes including granite countertops, hardwood floors, stainless steel appliances, in-unit laundry and dishwashers as well as forced hot air heat and central air conditioning. Each unit is separately metered for utilities with the tenants paying for heat and air conditioning (Electric Heat Pumps), gas fired hot water (Tankless Navien system), and electric. Additionally, the building is fully sprinklered and includes a fire monitoring system. 20 Sheafe Street is situated in an exceptional urban location in the North End neighborhood of Boston. The Property is centrally located off of Salem Street and the area offers countless amenities with endless dining, retail and nightlife options. The North Station, Haymarket T-Station, State Street T-Station, and Aquarium T-Station are all less than 0.6-miles from the Property. The location offers convenient access to Boston’s Best Areas including the Seaport District, Downtown Boston, Back Bay, Fenway-Kenmore, and South Boston. The Property is just 230 feet from Salem Street in the heart of the North End. This unparalleled location offers convenient access to four (4) T-Stops (Green D & E-Lines, Blue Line and Orange Line) and is a short walk from the TD Garden (home to the famed Boston Celtics and Boston Bruins and countless live concerts and shows) Quincy Market, Christopher Columbus Waterfront Park, and Boston Harbor.
Horvath and Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in New England. Their advisors specialize in the sale of apartment buildings, mixed-use properties, and development projects. They have experience successfully structuring portfolio sales and 1031 exchanges. They 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.