BPDA approves 233 Hancock Street, 36 new apartments with ground-floor retail and gallery in Dorchester
The Boston Planning & Development Agency (BPDA) approved 233 Hancock, a new 36-unit residential apartment building with ground-floor retail and gallery space located in Dorchester a short walk from the Savin Hill MBTA Red Line station, at last Thursday’s board meeting. The building will feature 12 studio units, 12 one-bedroom units, eight two-bedroom units, and four three-bedroom units, with 720 square feet of ground-floor retail space and 400 square feet of lobby gallery space. 22 garage parking spaces will be provided on site. 233 Hancock Street will require additional approval by the City of Boston’s Zoning Board of Appeals (ZBA) in order to proceed with construction.
36 apartments proposed across from DotBlock development in Dorchester
ARX Urban proposes to construct a new mixed-use building at 233 Hancock Street in Dorchester, located across from the upcoming $150 million DotBlock mixed-use development, featuring 36 apartment residences. The proposed building would also feature 850 square feet of ground-floor retail and a 400-square-foot ground-floor gallery housing community artwork. ARX Urban has filed plans for the proposed building with the Boston Planning & Development Agency (BPDA), who is now reviewing the project.
ARX Urban acquires mixed-use building across from DotBlock development for $2.8 million, owns property next door
Boutique real estate developer and investor ARX Urban has acquired 299-309 Hancock Street, a 16,184-square-foot mixed-use building located across from the upcoming 388,400-square-foot DotBlock mixed-use development, for $2.8 million, or $173.01 per square foot. Seller Ron Ifrah of Longwood Residential acquired the building, which includes private surface parking, in November 2013 for $1,427,440, or $88.20 per square foot. The building is strategically located at the intersection of Hancock Street and Dorchester Avenue next to 289 Hancock Street, a three-unit residential building ARX acquired in February 2017 for $480,000 in cash. In total, ARX now owns 0.33 contiguous acres of developable land across from DotBlock. Brookline Bank provided $2.95 million in mortgage financing for ARX’s acquisition of 299-309 Hancock Street.
ARX Urban Capital acquires 10 Ashmont apartments for $2.75 million
Last Monday (August 15th, 2016), local Newton, MA-based real estate investor ARX Urban Capital acquired the 10-unit residential apartment building at 341 Gallivan Boulevard, located in Dorchester's Ashmont neighborhood steps to the MBTA Red Line, for $2.75 million as recorded in the Suffolk County Registry of Deeds. The sale amounts to $312 per square foot and $275,000 per unit. JP Morgan Chase Bank provided a mortgage of $1.75 million towards ARX Urban Capital's purchase of 341 Gallivan Boulevard.
Units at 341 Gallivan Boulevard include five one-bedrooms and five two-bedrooms ranging from approximately 600 to 1,500 square feet. The building was completed in 2012 by South Boston-based developers Paul Adamson and Mark Cummins, 341 Gallivan Boulevard's sellers. Adamson and Cummins acquired the property in December 2011 for $490,000 with a previously approved permit to construct a 10-unit building. The following is the deed for ARX Urban Capital's acquisition of 341 Gallivan Boulevard:
ARX Urban Capital acquires 8,982 square foot Roslindale Village parcel for $1.63 million
Innovative real estate investment firm ARX Urban Capital has acquired the 8,982 square foot parcel at 4198-4206 Washington Street in Roslindale Village. The sale of the parcel to ARX Urban Capital closed today for $1.63 million as recorded in the Suffolk County Registry of Deeds. A single-story retail strip of approximately 8,000 square feet currently stands on the parcel. A locus map of the parcel is posted above with the parcel outlined in red.
The sale of 4198-4206 Washington Street follows a stream of recent investment in Roslindale Village. Peregrine Group is developing Parkside on Adams, a mixed-use project consisting of 43 recently-opened residential rental units and approximately 7,000 square feet of retail. City Point Capital developed The Residences at Village Crossing, a newly-built 14-unit condominium building. Parkhead Development is developing a new 19-unit condominium building at 20 Taft Hill Park.
The following is the deed for today's sale of 4198-4206 Washington Street to ARX Urban Capital: