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BOSTON REALTY ADVISORS BROKERS SALE OF MOUNT CARMEL FOR $10M

Former Church Permitted for New Residences in East Boston’s Jeffries Point
Key Takeaways
  • The property, consisting of three buildings and a parking lot, was the former Our Lady of Mount Carmel and will be a combination of adaptive reuse of the existing buildings and new construction on the associated parking lot.
  • The approved residential development will include 14 units in the existing buildings, with the remainder of the 108 being new construction.

BOSTON – Boston Realty Advisors, the largest Boston-based independent real estate brokerage and consulting company, brokered the sale of Mount Carmel Residences, a fully approved 108-unit residential development in the Jeffries Point neighborhood of East Boston.

The property, consisting of three buildings and a parking lot, was the former Our Lady of Mount Carmel and will be a combination of adaptive reuse of the existing buildings and new construction on the associated parking lot. The price was $10 million.

 “Boston Realty Advisors was pleased to complete the sale of this prominent site, providing much needed housing units in a great neighborhood,” said Andrew Herald, Associate Director of Boston Realty Advisors. 

The approved residential development will include 14 units in the existing buildings, with the remainder of the 108 being new construction. Four parcels of land make up the property, a total of 1.13 acres at the intersection of Frankfort and Gove streets. The Mount Carmel Residences will feature green space and bicycle parking.

The Jeffries Point neighborhood was once known for shipbuilding and other maritime industries and has experienced a renaissance over the last two decades, with both longtime and new residences taking advantage of both a rich urban lifestyle and the unparalleled views East Boston offers.

Within walking distance are transit connections, including a five-minute walk to the Maverick Square MBTA Station on the Blue Line, groceries and other shopping options, and increasing numbers of bars and restaurants. A water taxi and extensive highway network offer easy access to Downtown Boston, Charlestown, South Boston and Logan Airport. A highly desirable neighborhood, East Boston has more than 1.5 million square feet of development under way. 


Founded in 2001, Boston Realty Advisors is a Boston-based, privately held, locally operated real estate firm. BRA is data-driven, with real-time insight on real estate trends ranging from commercial and residential development to debt and equity markets. BRA applies industry experience to inform decisions, manage risk, and maximize profitability for its clients. For more information on BRA, please go to www.bradvisors.com .

Key Takeaways
  • The property, consisting of three buildings and a parking lot, was the former Our Lady of Mount Carmel and will be a combination of adaptive reuse of the existing buildings and new construction on the associated parking lot.
  • The approved residential development will include 14 units in the existing buildings, with the remainder of the 108 being new construction.
Media Gallery
Quotes
Boston Realty Advisors was pleased to complete the sale of this prominent site, providing much needed housing units in a great neighborhood.
Andrew HeraldAssociate Director of Capital Markets Group
Contacts
Tom Palmer, Tom Palmer Communication
tompalmer@rcn.com
617.755.7250