7
BROOKLINE, MASS. — Pine Realty Associates has sold Harvard Avenue Apartments, a 24-unit property located at 48-50 Harvard Ave. in Brookline, roughly 6 miles west of downtown Boston. Built in 1950, Harvard Avenue Apartments features studio and one-bedroom units. Residents have access to off-street parking and an on-site laundry facility.
Matthew Pierce of Marcus & Millichap’s Boston office marketed the property on behalf of the seller and procured the buyer, a private investor. Additionally, Robert Damigella of Marcus & Millichap Capital Corp. arranged $3.3 million in acquisition financing through a local credit union for the deal. The 10-year non-recourse loan includes a 6.2 percent interest rate with a 25-year amortization schedule.