63 Pleasant St., WatertownLegacy Real Estate Ventures has continued its local buying spree with the purchase of 63 Pleasant St. in Watertown, the company’s eighth acquisition in the past three years.

The purchase price for the 25,000-square-foot building, which sits on 1.12 acres, was $2.61 million. Originally constructed in 1888 as a school (St. Patrick’s), the building was fully renovated and converted to offices in 1998.

This is the eighth acquisition that Legacy Real Estate Ventures, based in Waltham, has completed in the past three years, bringing its total holdings close to $30 million in value, according to a statement.

The seller, Salke Realty LLC, was represented by Robert Wallace of Wallace Property Co.

Other tenants at the property include Caritas (recently acquired by Steward Health Care), Solomon and Bauer Architects and branding and design firm Corey McPherson Nash (CMN).

"The property fits perfectly into our portfolio of multi-tenant class B buildings. Many aesthetic and building system improvements are planned. Given the quality construction, location and parking, we are excited about enhancing the value of this asset," said Principal of Legacy Real Estate Ventures Michael L. Price.

Financing for the acquisition was provided by Cambridge Savings Bank and the property will be managed by Eastport Real Estate Services.

 

Legacy Real Estate Ventures Purchases Watertown Building

by Banker & Tradesman time to read: 1 min
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