A seven-unit apartment property in Boston’s North End neighborhood has been sold to a developer.

The building at 21 Sheafe St. sold for $2.53 million.

Evan Griffith, first vice president of investments, and Tony Pepdjonovic, senior associate in Marcus & Millichap’s Boston office, had the exclusive listing to market the property on behalf of the seller, a private investor. They also procured the buyer.

“The property had been family-owned and hadn’t seen the open market for over 40 years, adding to the allure of the highly sought-after North End asset. We saw a very competitive bidding process among local, international, and 1031 exchange buyers,” said Pepdjonovic in a statement. “The new developments surrounding North Station and the Government Center garage, known as Bullfinch Crossing, continue to push investor demand for properties throughout the North End” added Griffith.

The building is comprised of six one-bedroom apartments and one studio. The buyer plans to fully upgrade the units to luxury rentals.

North End Apartment Building Sold

by Banker & Tradesman time to read: 1 min
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