Photo courtesy of CBRE

An East Boston waterfront development completed in 2018 traded for $85.3 million in an acquisition by Goldman Sachs Alternatives.

The purchase price works out to more than $426,000 per unit for Boston East, a 6-story complex totaling 200 units.

CBRE’s multifamily investment sales team of Simon Butler, Biria St. John, John McLaughlin and Brian Bowler represented the seller, American Realty Advisors of Los Angeles.

The complex near the MBTA’s Maverick station includes a roof deck and lounge and outdoor recreation areas.

Boston-based Trinity Financial partnered with East Boston Community Development Corp. on the $71 million project, located at 102-148 Border St. The property includes 174 market-rate and 26 income-restricted units.

Ground was broken in 2016 following more than a decade of redevelopment efforts on the long-vacant site once used for shipbuilding.

American Realty Advisors Sells Eastie Property for $85M

by Steve Adams time to read: 1 min
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