For Sale: Approved Development Opportunity

11 Faneuil Street | Brighton, MA

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Executive Summary

CHARLESGATE is the exclusive listing broker offering 11 Faneuil Street in Brighton, MA for sale. The offering consists of a BPDA approved 42 unit condominium development with 51 parking spaces, located on an approximately 19,544 square foot parcel, with an existing 5,200 square foot structure currently located on the site.

11 Faneuil is in a prominent urban infill location situated in the heart of one of Boston’s most exciting submarkets with $2B+ in ongoing development, anchored by seminal developments Arsenal Yards, Allston Yards, Harvard University’s expansion, and Boston Landing; a 15-acre campus which is home to the new 250,000 square foot headquarters of New Balance, The Boston Bruins, Boston Celtics, Bose and many more.

The site is ½ mile to the new Boston Landing Commuter Rail station, to Brighton Center and to the Charles River; and approximately 1 mile to the heart of Harvard University’s Allston campus expansion, highlighted by the new development of their Enterprise Research Campus. The property is located just minutes to many major commuter routes including the Mass Pike, Soldier’s Field Road, and Storrow Drive.

With the focus on lab and office space bringing more and more job growth to the area and the continued transformation of the Allston-Brighton neighborhood now boasting condo sales over $1,200-$1,300 psf, 11 Faneuil is an exceptional opportunity for development, primed to take advantage of the expansive retail, lab and office development in one of Boston’s hottest submarkets.

11 Faneuil Street is offered for sale at $7,500,000. We will be conducting tours by private appointment only in the upcoming weeks with a “call-for-offers” to follow.

Please do not enter the property unaccompanied at any time.

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Local Development

LocationDevelopment 11 Faneuil offers unparalleled proximity to over $2 billion in development in one of Boston’s hottest submarkets. With the ongoing transformation of Allston-Brighton as a destination neighborhood, 11 Faneuil is an exceptional opportunity for further redevelopment. Fueled by major developments like Boston Landing, Harvard’s Allston Campus and Enterprise Research Campus, Watertown’s Arsenal Yards, Allston Yards, a new Commuter Rail station, proximity to Harvard, MIT, Boston College, and Boston University, as well as a myriad of other development, Allston-Brighton is rapidly evolving into Boston’s most desirable neighborhood.

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Market Expectation

icon_market-expectation As development investment continues to pour into Allston-Brighton a new construction condominium market is rapidly evolving, and sales numbers continue to climb. Driven by high demand and a very scarce amount of new condominium inventory, this new product is routinely selling at over $1,100/PSF, with some sales nearby approaching $1,300/PSF. Given continued low interest rates, the transformative nearby projects and neighborhood amenities, and a lack of competing new product in the for sale condominium pipeline, the market is expected to continue to see strong growth for the foreseeable future. Approved with only 13% affordable units, in a market where the new expectation is to be 20%, this project already has some built-in margin over future land sales.

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Higher Education

icon_higher-ed 11 Faneuil is conveniently situated within three miles of four of the city’s most prestigious academic institutions: Harvard, MIT, Boston College, and Boston University. Additionally, Harvard University’s Institutional Master Plan for the Allston campus further solidifies the neighborhood as a development hotspot. The University recently completed and opened the Science and Engineering Complex which is one of the world’s healthiest and most energy-efficient lab buildings.

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Transit Oriented

icon_transit Just minutes to the new Boston Landing commuter rail station, The Mass Pike, Storrow Drive, and a short walk to numerous MBTA bus lines, 11 Faneuil is an ideal location for commuters by public transit and car.

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2B

Over $2B in Ongoing Neighborhood Development

1100

Market Rate Condominium Sales Eclipsing $1,100/PSF

42

Entitled for 42 Condominium Units

Schedule a Tour with P.T. Vineburgh

Select a day and time for your tour with P.T. After you make your selection, he will follow up with you directly to confirm. Your appointment is not confirmed until you hear from P.T.

We will be conducting tours by private appointment only in the upcoming week. Please do not enter the property unaccompanied at any time, as it is currently an operating business.

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Neighborhood Amenities

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Inspiring and empowering our clients, our team, and our community with comprehensive real estate solutions.

CHARLESGATE is an integrated real estate firm that empowers thousands of clients throughout Eastern Massachusetts with a comprehensive array of services across residential and multifamily commercial real estate - property management & leasing, sales brokerage, investment sales, construction, and new development.

Our new development marketing & sales division specializes in combining creative design and branding strategies with innovative marketing execution to engage the market, connect with buyers, and accelerate sales – all with a targeted analytics-based approach that dramatically reduces overall marketing costs. Throughout the development process, from pre-entitlement through sell-out or lease-up, CHARLESGATE advises developers and architects on layouts, finishes, and amenities to create a beautiful place to call home and compelling long-term value for owners.

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The listing Broker/Salespersons represents the seller, not the buyer, in the marketing, negotiating, and sale of property, unless otherwise disclosed. However, all Brokers/Salespersons have an ethical and legal obligation to show honesty and fairness to the buyer in all transactions. All listing information is given in good faith and deemed reliable but is offered subject to errors and omissions, changes in price, prior sale, or withdrawal without notice. Property information has been gathered from 3rd party sources.