FORTY BERKELEY - Boston Realty Advisorsbradvisors.com/.../2016/03/40Berkeley_Brochure_lo.pdf ·...
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FORTY BERKELEY SOUTH END • BOSTON, MA 40Berkeleystreet.com
Transcript of FORTY BERKELEY - Boston Realty Advisorsbradvisors.com/.../2016/03/40Berkeley_Brochure_lo.pdf ·...
FORTY BERKELEYSOUTH END • BOSTON, MA
40Berkeleystreet.com
BACK BAY
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Boston Realty Advisors is pleased to offer for sale 40 Berkeley Street, a
208 room, +/-73,133 square foot building located in the historic South
End district of Boston. The property currently operates as an entry-level
hotel, offering travelers sociable accommodations. Originally constructed as
housing for the YWCA, the asset is located within walking distance to public
transportation and wide range of amenities in the South End and Back Bay.
Rarely is a critical mass of dwelling units, offering irreplaceable density in
an ultra-high barrier to entry market, available to investors.
The building stands seven stories above grade, featuring 168 hotel rooms and
40 permanent rentals with the possibility of adding approximately +/- 7,550
square feet of retail space. The asset is ideally positioned for an investor to
add value through cosmetic upgrades and the addition of two levels of retail
including expansion into an outdoor courtyard.
The property is ideally positioned for a comprehensive rebranding targeting
millennial travelers. With unobstructed rooftop views and underutilized
common area space, 40 Berkeley offers a variety of repositioning scenarios
making this urban investment opportunity a one-of-a-kind asset.
Situated at the corner of Appleton and Berkeley Streets, the building benefits
from its prominent South End location. The property is steps from fine
authentic dining and boutique shopping along amenity rich Tremont Street.
While located within a mature neighborhood, the asset will be further benefited
by the wave of recent luxury development projects in the immediate area.
40 Berkeley Street represents an ideal opportunity for investors to acquire a high-performing asset with upside potential located within one of Boston’s
most desirable submarkets.
Anchored by its broad base of demand drivers, Boston attracted
almost 20 million visitors last year alone. The South End continues
to draft off these investment fundamentals, further strengthening
its dominance within the urban core. As the market accelerates, so
too do the aspirations of area developers which is a testament to the
stability of the South End. There is currently 1,500 Class A residential
units and approximately 650,000 square feet of commercial space of
planned development within a five block radius of 40 Berkeley.
40 Berkeley consists of 168 private guest rooms and 40 permanent
rental units, offering investors 208 rooms and +/- 73,133 square feet.
Comparable product in the South End does not exist. Furthermore,
permitting this level of density in such a high-barrier to entry market
is an arduous process with significant risks. With future competition
scarce, this is a rare opportunity to acquire a critical mass of units in a
world-class urban neighborhood.
MARKET DYNAMICS
40BERKELEYSTREET.COM
IRREPLACEABLE DENSITY & URBAN LOCATION
BACK BAY STATION
BEACON HILL
SOUTH END
BOSTON COMMON
TREMONT STREET
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BERKELEY STREET
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The asset occupies a prominent corner directly off the South End’s primary retail corridor with some of Boston’s best shopping and dining
destinations. This vibrant mix of restaurants and boutiques attracts residents and tourists alike to the neighborhood.
RESTAURANT ROW
745 Boylston Street | Boston, MA 02116 | (T) 617.375.7900 | (F) 617.536.9566 | BRAdvisors.com
© Copyright Boston Realty Advisors. All rights reserved. The information contained here has been obtained through sources deemed reliable but cannot be guaranteed as to its accuracy. Any information of special interest should be obtained through independent verification.
JASON S. WEISSMAN Founder & Senior Partner [email protected]
NICHOLAS M. HERZ Managing Director & Partner [email protected]
MICHAEL A. D’HEMECOURT Managing Director & Senior Partner [email protected]
WHITNEY GALLIVAN Managing Director & Partner [email protected]
CAPITAL MARKETS
+/- 73,133SQUARE FEET
+/- 7,550SQUARE FEET OF POTENTIAL
"PRIME" RETAIL SPACE
7STORIES PLUS BASEMENT
AND MEZZANINE BETWEEN 1ST AND 2ND FLOOR
FORTY BERKELEY • SOUTH END
168HOTEL ROOMS
40AFFORDABLE
RENTALS
208TOTAL ROOMS
CHRISTOPHER J. DONATO Associate Director [email protected]
KEVIN BENZINGER Associate [email protected]
