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Normandy Opportunity Zone Fund LP Acquires Development Sites In Somerville, MA For $48M

64 & 68 Webster Avenue, 495, 497, 513, & 517 Columbia Street, 6 Beach Avenue & 481 Columbia Street⁠
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This Development Site property located in FL was sold for $48,000,000 over 3 years ago. The brokers of the deal were Anthony Cutone, Michael (Mike) Restivo, Matthew (Matt) Sherry, and Henry Schaffer

The development sites located at 64 & 68 Webster Avenue, 495, 497, 513, & 517 Columbia Street, 6 Beach Avenue & 481 Columbia Street in Somerville, MA have been sold. The transaction took place on 11/02/2020 and the sale was facilitated by JLL Capital Markets.

Summary of transaction details

  • Property Type: Development Sites
  • Transaction Amount: $48,000,000

The buyer of the development sites was Normandy Opportunity Zone Fund LP. The brokers involved in the deal were Matthew Sherry, Michael Restivo, Anthony Cutone, and Henry Schaffer from JLL Capital Markets.

The total square footage of the development sites is 52,272, with a price per square foot of $918.

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  • Location
    Southwest 64th Street & Southwest 68th Court, South Miami, FL, USASouthwest 64th Street & Southwest 68th Court, South Miami, FL, USA
  • Sale Price
    $48,000,000$48,000,000
    $918 PPSF$918 PPSF
  • Area
    52,272 SF52,272 SF
  • Asset Type
    Development SiteDevelopment Site
  • Parties
    4 Brokers, 2 Agencies4 Brokers, 2 Agencies

Agents

Anthony Cutone

Anthony Cutone

Deals4
Financed$885.9M

Michael (Mike) Restivo

Michael (Mike) Restivo

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Financed$285.9M

Henry Schaffer

Henry Schaffer

Deals10
Financed$1.5B

Agencies

JLL

JLL

Agency
Deals5591
Volume$332.6B

Colliers International

Colliers International

Agency
Deals1674
Volume$36.2B

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Deal Summary

SALE⁠ IMAGE:  Matthew Sherry, Michael Restivo, & Anthony Cutone⁠ DATE: 11/02/2020⁠ ADDRESS: 64 & 68 Webster Avenue, 495, 497, 513, & 517 Columbia Street, 6 Beach Avenue & 481 Columbia Street⁠ MARKET: Somerville, MA⁠ ASSET TYPE: Development Sites⁠ BUYER: Normandy Opportunity Zone Fund LP⁠ BROKERS: Matthew Sherry, Michael Restivo, Anthony Cutone, & Henry Schaffer - JLL Capital Markets⁠ SALE PRICE: $48,000,000⁠ SF: 52,272 ~ PPSF: $918⁠

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64 & 68 Webster Avenue, 495, 497, 513, & 517 Columbia Street, 6 Beach Avenue & 481 Columbia Street⁠

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