Marcus & Millichap Sells Ellery Apartments In Harvard Square For $6.65M

The property sold is located at 84-86 Ellery Street in Cambridge, MA, featuring a Multifamily asset type on a 0.25-acre lot. The sale price was $6,650,000, with a total of 14 units. The property encompasses a total square footage of 12,574, leading to a price per unit of $475,000 and a price per square foot of $529.

Summary of transaction details:

• Property Type: MultiFamily
• Transaction Amount: $6,650,000
• Address: 84-86 Ellery Street
• Market: Cambridge, MA
• Acres: 0.25
• Units: 14
• Price Per Unit: $475,000
• Square Feet: 12,574
• Price Per Square Foot: $529

Evan Griffith and Tony Pepdjonovic from Marcus & Millichap represented the transaction. The property, known as Ellery Apartments, marks a significant sale as it occurred for the first time in over 40 years in a high-demand, barrier-to-entry market. The new owner intends to convert the property into 20 luxury condos, benefiting from recent zoning changes.