New Boston Ventures Acquires Development Site In Boston For $6.6M

The development site located at 575 Albany Street in Boston, MA has been acquired by a New Boston Ventures-linked LLC for $6,662,500. The 9,000-square-foot property is set to be converted into 50 residential units along with ground-floor retail. This acquisition marks the final stage of the Harrison/Albany block development, following the recent completion of luxury apartments The Smith & The Smith No. 99.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $6,662,500
• Buyer: David Goldman - New Boston Ventures
• Address: 575 Albany Street
• Market: Boston, MA

David Goldman, representing New Boston Ventures, has successfully secured the property at 575 Albany Street. The intention behind the acquisition is to develop the site into 50 residential units alongside ground-floor retail spaces. This strategic move follows the completion of the upscale apartment buildings, The Smith & The Smith No. 99, marking a significant milestone in the Harrison/Albany block development.