A 44-unit apartment community in Boston’s Allston neighborhood has sold for $10 million.
Taymil LT LLC sold Lorraine Terrace Apartments to Lorraine Montrose LLC. CB Richard Ellis – N.E. Partners LP’s multi-housing experts Simon Butler, executive vice president/partner, and Biria St. John, executive vice president/partner, represented the seller and procured the buyer. The apartment community was 100 percent occupied at the time.
"We are very pleased to have facilitated this transaction on behalf of Taymil LT LLC," said Butler. "Lorraine Terrace Apartments is a fantastic urban infill apartment community ideally positioned to serve college students and young professionals alike in the vibrant Allston neighborhood of Boston."
The unit mix is comprised of six studio apartments; five one-bedroom, one-bath apartments; one two-bedroom, one-bath apartment; and 32 three-bedroom, one-bath apartments, with an average unit size of 747 square feet.
