MG2 adds to East Boston portfolio with acquisition of Central Square parcel for $875,000

This morning, developer MG2 of Quincy, MA acquired the 3,821 square foot parcel at 219 Border Street in East Boston, located on Central Square, for $875,000 as recorded in the Suffolk County Registry of Deeds. A 1,929 square foot single story building home to El Paisa Restaurant stands on the parcel. MG2 also secured a $700,000 mortgage for 219 Border Street this morning through Pilgrim Bank. A 66-unit luxury condominium building, Seville Boston Harbor, is under construction steps from 219 Border Street at 248 Meridian Street. 219 Border Street is MG2's second East Boston acquisition within the past month; MG2 acquired 11-19 Walley Street, an approximately 1/3 acre parcel located next to the Suffolk Downs rapid transit station on the MBTA Blue Line, for $1.85 million on July 18th, 2016. Per MG2's website, East Boston is an area of focus for the firm, and MG2 will be undertaking several development projects in East Boston over the coming years. The following is the deed for MG2's acquisition of 219 Border Street today:

(Note: 219 Border Street is also numbered 40-42 William J. Kelly Square)

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