Neighborhood of Affordable Housing (NOAH) has purchased a 23,000-square-foot industrial building to develop a residential complex in East Boston.

The property at 95 Border St., which sits on 1.32 acres, sold for $1.5 million. The seller was Sisson Realty Trust.

NOAH plans to redevelop the site, which was formerly an industrial site on the East Boston waterfront, into a transit-oriented residential community called Coppersmith Village.

According to NOAH’s website, "The proposed project is comprised of 56 rental apartments along Border Street with 3,000 square feet of ground floor retail space, planned for restaurant use. On the Liverpool Street frontage there will be 15 townhomes for sale using a three-story format that ties into the typical triple-decker of East Boston. The housing at Coppersmith Village will be a mix of affordable and market rate units, both rental and ownership."

CBRE/New England’s Mark Reardon, executive vice president and partner, David Corkery, first vice president, and Jake Borden, vice president, represented Sisson Realty Trust in the sale of 95 Border St.

"We are pleased to have facilitated this transaction on behalf of Sisson Realty Trust," Corkery said in a statement. "NOAH’s redevelopment plans for the site will completely revitalize East Boston’s Maverick/Central triangle by creating a new urban neighborhood."