East Boston, MA: A 15,943 SF combined key urban re-development site in East Boston’s Orient Heights neighborhood was sold on 3/22/19 to the MG2 Group of Quincy for $2,200,000.
Boston City Group, Inc.’s Caroline Ligotti, Emily McGranaghan and Linda Redeker, brokers at Coldwell Banker on Boylston Street, represented the Seller, Robert Katz.
The former home of Nu-Tread Tire was owned and operated by Mr. Katz. His family had started this well-known neighborhood business in the 1940’s with great success throughout the years. The site is comprised of 3 parcels; 968-970 Saratoga Street a 6,076 SF parking lot at the corner of Saratoga and Ford Streets, and contiguous parcels 1-7 Boardman Street 2 Ford Street located across the street from the lot. The Ford Street parcel also contains an 8,398 SF building.
The proposed new project for the site is a mixed-use residential/retail development combining market-rate and affordable housing, all within 900 feet of the MBTA’s Orient Heights Blue Line station. The re-development plans include a new four-story, mixed-use multifamily residential/retail building, comprised of 27 residential units, ground-floor retail space and 25 accessory off-street parking spaces within an on-site garage. Access to and from the garage will be via Boardman Street.
Boston City Group, Inc. specializes in sourcing and brokering commercial and multi-family investments, and urban development opportunities throughout Greater Boston and the New England, New York and Washington DC metro areas. They represent private investors, family offices, professional and institutional firms in both purchase and sale transactions. BCG is actively part of the Manhattanization of Boston. In addition to urban development sites, a small sampling of properties BCG is currently marketing include Boston’s Single Tenant Leased Building, 262 Friend Street, which is home to Boston Nightlife tradition The Greatest Bar, multi-family stabilized and value add properties, hotel sites inside 128, and stabilized office buildings. They have recently brokered the sales of 190 High Street in Boston’s Financial District, 268-274 Friend Street, aka Hilton’s Tent City Building in Boston’s North Station Area, an Inner-Core shopping center east of Boston, 670 Bedford Street, a 45 Unit Apartment Complex in Whitman, MA; 288 Commonwealth Ave, a 5-Unit Multi-Family building in Boston’s Back Bay; North Pointe Apartments, a 74-Unit complex in Hanover, MA, and 244 Washington Place, a 38-Unit Multi-Family building in North Easton, Mass.