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: