M&M Gloss Realty Co. has acquired the apartment complex at 16 Newhall St. in Lynn for $6.1 million.

NAI Hunneman’s Carl Christie, Robert Tito and Dan McGee represented the seller, 16 Newhall St LLC, and procured the buyer.

The 55-unit apartment building was on the market for about 60 days and attracted 10 offers, Christie said.

The 48,768-square-foot structure was built in 1873 as the Beaconsfield Hotel. The buyer acquired the property as part of a 1031 exchange, Christie said. The seller is looking to acquire larger multifamily properties in Lynn, after having acquired a 111-unit property on Beach Road in 2015.

Recent sales of multifamily waterfront properties in Lynn have risen as high as $135,000 per unit, Christie said. An improving downtown retail and restaurant scene and the access to the MBTA commuter rail have increased investors’ appetite for multifamily properties in the city.

And larger parcels are attracting interest for development along the Lynnway, where the city has been trying to encourage nearly 6 million square feet of mixed-use development.

A Marblehead realty company recently acquired 254-258 Lynnway where a 350-unit apartment complex is planned at the former Beacon Chevrolet property.