Update: This property is no longer on the market. Please click here to be redirected to our current real estate investment listings.
Holliday Fenoglio Fowler, L.P. (HFF), on behalf of the owner, is marketing for sale Millbrook Lofts, a 100-unit, LEED Gold loft style apartment community in the Boston-area community of Somerville, Massachusetts. Completed in 2016, the 97-percent-leased apartment building for sale reflects creative living derived from the adaptive reuse of a century-old cold storage building remade as a modern, loft-style apartment community.
Until 2014, the building was used as a cold storage warehouse, primarily for seafood, serving the needs of Boston’s markets and restaurants for decades. Once windowless industrial monolith, the property has been transformed into an inviting apartment community that builds on the existing structure and preserves the building’s fundamental character while introducing new contemporary elements, including high-exposed concrete ceilings, floor-to-ceiling windows, modern finishes with historic charm and generous living spaces.
Additionally, an eighth floor was added that provides additional apartments with private terraces and a premium finish package, maximizing views and creating a common roof deck with living green roof features and sprawling city views. In addition to its aesthetic appeal, the building’s concrete structure provides a unique, physical quality and durability that is truly unmatched in the Boston market. Unlike any other building in the market, Millbrook Lofts reflects the creative character that has made Cambridge and Somerville two of the hippest, most innovative communities in the country.
The multi-housing building for sale provides residents with unmatched amenities, including an expansive lobby; gallery and media room with a host’s kitchen, coffee bar and flat-screen television; rooftop deck; fitness center with cardio and strength training equipment; usable green space with seating and shade; complimentary Wi-Fi in common areas; on-site garage parking with electric car charging stations; secure garage bicycle parking and personal storage lockers.
Located at 9 Medford Street in Somerville, Millbrook Lofts is ideally situated on the Cambridge city line near Lechmere Station. The area has a Walk Score® of 92, making it a walker’s paradise, and a very bikeable Bike Score® of 82. Additionally, with a Transit Score® of 79, the area is considered to have excellent transit that is convenient for most trips.
The property is being offered free and clear of existing financing. For more information on this multi-family property for sale or other commercial properties for sale in the Boston area, please contact Mark Campbell, Chris Phaneuf or target="_blank"Xave Jacoby in HFF’s Boston office. For information on financing, please contact Frederic Wittman. To view HFF’s current real estate investment listings, please click here to be directed to HFF’s property search page.