The Boston-based Mount Vernon Co. has bought an 80,000-square-foot building in Boston for $17.2 million.

The building at 40 Berkeley St. currently operates as an entry-level hotel. It includes a full kitchen, expansive common areas and a unique 4,200-square-foot outdoor green space. The seven-story property was built as a YWCA housing facility, and has since been operated as a hotel geared toward young travelers and hostellers.

The Mount Vernon Co., the developers behind Allston’s 500-unit Green District, has not yet determined what it will do with the property.

 "We don’t know exactly what the Mount Vernon Co. plans, but we are very excited to see how it transforms this asset." Jason S. Weissman, principle and founder of Boston Realty Advisors, said in a statement. "The combination of 40 Berkeley’s location, its unique position in the hotel market and the creativity of the buyer, suggest the building has a very bright future."

Cornerstone Realty Capital arranged acquisition and improvement financing from a local bank.