CBRE/New England’s Capital Markets team has sold the Douglass Park Apartments for $52 million.
The 122-unit apartment community is located between Columbus Avenue and Tremont Street in Boston’s South End.
CBRE/New England’s Simon Butler, executive vice president, partner, and Biria St. John, executive vice president, partner, represented the seller and procured the buyer, The Hamilton Co. Communities Inc.
Constructed between 1989 and 1990, the community consists of two apartment buildings: one seven-story elevatored building with a leasing center and one four-story elevatored building with a fitness center and over 6,194 square feet of ground floor commercial space. The building has 114 underground garage spaces for a ratio of ±0.93 spaces per unit.
The unit mix is 28 percent one-bedrooms, 62 percent two-bedrooms and 10 percent three-bedrooms with an average size of 1,013 square feet.
The property is required to set aside 33 apartments-27 percent-for affordable residents who qualify for federal Section 8 or state Section 707 certificates.
