A portfolio of four mixed-use buildings in East Boston recently sold for $4.275 million to an unidentified limited liability company. The properties, which were constructed in the early 1900s, consist of three-story buildings with one restaurant and 11 apartment units each on lots ranging from 0.03 to 0.05 acres. Evan Griffith and Tony Pepdjonovic of Marcus & Millichap’s Boston office represented the seller and facilitated the transaction with the buyer.
Pepdjonovic commented that “this is the first time this property has traded in over 100 years [and] presents a tremendous value-add opportunity in an area experiencing large-scale development.” This marks a major milestone as these properties have changed hands for only once since their construction more than 100 years ago
