An Ohio developer has paid $50.15 million to acquire a luxury apartment complex in Brookline from Sovereign Realty Assoc. of New York.

A real estate trust affiliated with Pepper Pike, Ohio-based Visconsi Cos. Ltd. acquired the complex on Dec. 23, according to the Norfolk County Registry of Deeds.

The complex at 1440 Beacon St. contains 136 studio and one-bedroom apartment units. The purchase price works out to $368,750 per unit.

Asking rents for 725-square-foot one-bedroom units range from $2,035 to $2,300 per month, according to 1440 Beacon’s website.

$50M Deal For Coolidge Corner Apartment Complex

by Banker & Tradesman time to read: <1 min
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