Velkor 245 Nominee Trust has purchased the former Crystal Food Imports warehouse in East Boston and plans to convert the property into housing.

The 16,000-square-foot lot and warehouse at 245 Sumner St. sold for $1.2 million. The property was the former long-term home of cheese importer and distributor Crystal Food Imports, which relocated to Somerville several years ago.

Phil Burgess of Burgess Properties Inc. brokered the sale.

The building will be converted into 34 residential units – 11 three-bedroom units and 23 two-bedroom units, five of which will be affordable – along with 2,000 square feet of retail space and 34 parking spaces.

The final development plans come following a lengthy permitting and approval process, during which plans were scaled back in response to input and concerns from a variety of local citizens’ groups and city officials.

“This was an ideal location for a redevelopment project of this type. Of all the new residential projects in East Boston, 245 Sumner St. is by far the closest to public transportation. It is located 100 yards from the Maverick Square Blue Line Station,” Burgess said in a statement.