Boston Realty Advisors is pleased to present an extraordinary multifamily acquisition opportunity; the Park Gallery. Located at
77-81 Park Drive in the Fenway neighborhood of Boston, Massachusetts, the Park Gallery consists of 55 market rate apartments with 23 parking spaces overlooking the Museum of Fine Arts. Comprised of an ideal unit mix of studio, one, two and three bedroom apartments, the Park Gallery is advantageously situated in one of the most thriving medical and academic communities in the world. The Park Gallery presents the rare opportunity to own a generational asset with immediate value-add potential in a
Surrounded by outstanding colleges & universities and the Longwood Medical Area, the Park Gallery is at the nucleus of a robust employment hub and student haven. Longwood Medical Area is a 213 acre mega-campus home to world renowned medical institutions such as; Harvard Medical School, Beth Israel Deaconess Medical Center, Brigham and Women’s Hospital and Boston Children’s Hospital. The Park Gallery is positioned just 0.5 miles in proximity from this medical epicenter. Additionally, the Park Gallery is bordered by an academic mecca which includes Northeastern University,
Boston University and Wentworth Institute of Technology, all of which can be accessed by walking or the multiple MBTA stations that comprise the area. The Park Gallery is truly an institutional quality asset which offers investors size and scale in a unparalleled urban location. The Park Gallery is offered for sale on an un-priced basis.
We will be conducting tours of the property with a “call-for-offers” to follow.
UNRIVALED MARKET DYNAMICS
Home to the Longwood Medical Area and world-renowned educational institutions, the Park Gallery is truly located in the heart of it all. The area is an employment hub consisting of a highly educated workforce and lucrative jobs with future commercial development on the horizon.
The Park Gallery is serviced by numerous modes of transportation including direct access to the MBTA Green Lines B, C, D at Kenmore Square and Line E at the Museum of Fine Arts station on Huntington Avenue. It also provides easy access to the commuter rail at Lansdowne Station, multiple bus routes including route 55 stop at Jersey Street and Queensberry Street, and major thoroughfares; I-90, I-93 and Storrow Drive.
SUPERIOR AREA AMENITIES
Located in the Fenway Neighborhood, area amenities are unmatched. The recent wave of development along Boylston Street has attracted internationally recognized retailers such as Target and countless chef-driven restaurant concepts. Steps from Fenway Park, The Rose Garden, Museum of Fine Arts, the options are endless.
IRREPLACEABLE REAL ESTATE
55-market rate apartments and 23 parking spaces located in close proximity to Longwood Medical Area and a multitude of colleges & universities all make this offering rightfully superior. The size and scale of the offering in respect to the location are truly unique in addition to the property overlooking the Museum of Fine Arts.
CURRENT CONDITIONS - VS - RENOVATION OPTIONS
The Park Gallery significant value-add opportunity with unit and common area renovations. Please find the following examples of existing conditions vs. future renovation options that will allow ownership to maximize rents and maintain tenant retention.
Jason s. Weissman
Founder & Senior Partner
Nicholas M. Herz
Managing Director & Partner