Photo courtesy of the city of Revere.

A property on Revere Beach near Elliot Circle has sold for $4.12 million, clearing the way for a 60-unit apartment development proposed for the site.

Boston-based Gansett Ventures plans 60 apartment units for the 0.83-acre site, according to a filing with the state Department of Environmental Protection and the city of Revere. Plans included in that filing show the first floor will contain only parking.

Currently, the site hosts an abandoned, 5,000-square-foot restaurant and parking lot. The property is assessed at $4.87 million, according to city property records, and was most recently sold in 2016 for $1.6 million.

Revere Beach Parcel Destined for Apartments Sold for $4.12M

by Banker & Tradesman time to read: <1 min
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