City Realty invests $15.5 million in Allston with acquisition of three developable parcels
Update
07/25/17
City Realty Group of Brookline has invested $15.5 million in the Allston neighborhood with the acquisition of three separate development sites along and just off of Cambridge Street. All three sites were acquired from longtime owner Jack Young Auto Parts Company. The sites include a 54,000-square-foot building at 334 Cambridge Street with expansion potential acquired for $5 million, 0.42 acres of developable land at 372 Cambridge Street fronting onto Harvard Avenue acquired for $4.5 million, and 0.46 acres of developable land at 4-20 Braintree Street acquired for $6 million. Northern Bank & Trust Company provided a total of $13.2 million in financing towards City Realty Group's acquisition. The three sites are located a short distance from multiple large development projects, including the multi-phased 15.2-acre Boston Landing mixed-use development.
