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Novaya Real Estate Ventures At A Glance

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PROJECT STATUS
Acquired by Proponent: 5 | Project Approved: 1
WORK BY SECTOR
Office: 5 | Retail: 3 | Industrial: 2 | Housing: 1 | Parking: 1 | Restaurant: 1 | Lab: 1
PROJECT SIZES
$0 - $10M: 6 | $10M - $100M: 0 | $100M+: 0

 

Novaya provides its clients with an innovative approach to real estate investing, by uncovering value through proprietary market relationships, creative structuring, local expertise and superior management. Our unique platform brings together a variety of talents and over eighty (80) years of collective experience of its principals: James Alden, Peter Carbone, Scott Tully and Jeff Theobald. As the name suggests, the combined expertise in institutional asset management , private equity, real estate law and venture capital, coupled with our extensive on-the-ground operating experience, enables Novaya “to see over the horizon”- thereby creating new ways of yielding superior risk-adjusted returns for its investors while keeping principal secure.

The Novaya Principals bring together over eighty (80) years of real estate experience gained with several of the premier real estate organizations in New England. Our Principals leverage this interdisciplinary experience across all facets of real estate investment.

 

Updates

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Xmbly
- Jul 16, 2020

Somerville Planning Board Approves Changes to 1.6M Xmbly The Somerville Planning Board has approved the proposed changes to the Master Plan for Xmbly at 5 Middlesex Avenue. New plans call for the elimination of the 190,000 square foot residential tower on Block 25 with an increase in office/lab/R&D space by approximately 272,000 square feet, inclusive of approximately 80,000 square feet of innovative space. A total of 1,220,000 square feet of office/lab/R+D space would now be provided within 3 buildings. Plans also call for a reduction in retail/restaurant space to 24,500 square feet but an increase in parking from 1696 spaces to 1899 in total. Construction is underway for the first building on the 9+ acre site, the 329 unit Alta XMBLY which will now be the only residential building within the project.   


Xmbly
- Mar 27, 2020

Amended Plans Filed for Xmbly in Somerville Changes have been proposed for the 9+ acre Xmbly development in Somerville. Currently, on the project, construction has kicked off for the 329 unit Alta XMBLY which would now be the only residential building within the project. New plans call for the elimination of the 190,000 square foot residential tower on Block 25. This change allows for an increase in publicly accessible open space and an increase in office/lab/R&D space by approximately 272,000 square feet, inclusive of approximately 80,000 square feet of innovative space. A total of 1,220,000 square feet of office/lab/R+D  space would now be provided within 3 buildings. Plans also call for a reduction in retail/restaurant space to 24,500 square feet but an increase in parking from 1696 spaces to 1899 in total.


1 Robbins Road
- Feb 06, 2020

Westford Property Acquired for $31.5 Million Novaya Real Estate Ventures has acquired the property at 1 Robbins Road in Westford, MA for $31.5 million. The property features a 298,237 square foot Class A office building that was constructed in 1982. The 3 story brick building sits on a 30-acre parcel about 4.5 miles away from the 495 Commuter rail station.


7 Newbury Street
- Feb 15, 2019

South Coast Improvement, Co. completes project at 7-9 Newbury Street South Coast Improvement Company (SCI), a design-build general contractor serving New England and the Mid-Atlantic states, recently completed a renovation project at 7-9 Newbury Street in Boston, Massachusetts for the building’s landlord, Urban Meritage. The Marion, Mass.-based company began work on the $489,000 project in June and wrapped up in August. The project consisted of a complete mechanical, electrical and plumbing upgrade to basement, fifth, sixth and seventh floor. This included the installation of new electrical panels on each floor and all new piping through the chase from the basement all the way up to the roof. Additionally, the project included the installation of new HVAC units and rooftop units for all three floors. “City projects present any number of challenges, particularly one with an aggressive three-month schedule like this one,” said Tom Quinlan, president of South Coast Improvement Company. “Through close coordination with the management company, Urban Meritage, and the tenants in the building, we were able to complete a time-sensitive project while minimizing disruption.” Client: Urban Meritage Dollar Volume: $489,000 Square Feet: 10,800 Sector: Commercial Real Estate Architect: Studio Luz Architects, LTD Engineers: Allied Consulting Engineering Services, Inc. About South Coast Improvement (SCI) Based in Marion, Mass. and with an office in Reading, Pennsylvania, South Coast Improvement Co is a recognized leader in providing building and renovation services to a client base of senior living, healthcare, institutional and retail clients. For more information, please call 508-748-6545 or visit www.southcoastimprovement.com.  


16 Esquire Road
- Jan 04, 2019

Billerica Flex Property Acquired for $9.99 Million Novaya Real Estate Ventures has acquired the property at 16 Esquire Road in Billerica, MA for $9.99 million. The property features an institutional quality industrial flex building in Billerica, MA. The property is strategically located in close proximity to I-495/Route 3 Interchange (via Rt. 129 and Treble Cove Rd).


38 Forge Parkway
- Nov 20, 2018

Franklin Industrial Property Acquired for $9.2 Million Novaya Real Estate Ventures has acquired the property at 38 Forge Parkway in Franklin, MA for $9.2 million.  The property features a single story 79,570 square foot manufacturing facility that was constructed in 2000. The building is located in Franklin, MA and sits on a 24.21-acre parcel directly off route 140.


Xmbly
- Jun 14, 2018

SGA Envisions Active Setting for XmblySGA, a local architecture firm with offices in Boston and New York envisions Xmbly as an opportunity to fully connect Somerville as a city and to its neighbor, Boston. The master plan of the 9-acre parcel focuses on creating a vibrant mixed-use destination which links East Somerville to the Assembly Row Development, Somerville’s waterfront and the MBTA orange line. The site is organized to accommodate a mix of office, residential, hospitality, entertainment and retail uses to create an active setting for its users.The project is a 1.9 million square foot development of a 9.4-acre Assembly Row parcel largely comprised of surface parking into a mixed-use complex with a hotel, lab, office, residential and retail uses. Xmbly would consist of 814,000 square-feet office/R&D space, 489 housing units, renovation of an existing building with 162,000 square feet of office space, and 21,000 square-feet of retail space.


Xmbly
- May 22, 2018

A look at Xmbly: Somerville's Next Big ProjectCresset Development and Novaya Real Estate Ventures have released renderings for their planned four-phase, 1.9 million square foot development of a 9.4-acre Assembly Row parcel largely comprised of surface parking into a mixed-use complex with a hotel, lab, office, residential and retail uses. Xmbly would consist of 814,000 square-feet office/R&D space, 489 housing units, renovation of an existing building with 162,000 square feet of office space, and 21,000 square-feet of retail space.


Xmbly
- Jan 15, 2018

Cresset acquires Assembly Row development site for $35 million Cresset Development has acquired 5 Middlesex Avenue, the site of a proposed 1.9-million-square-foot mixed-use development on which the proponent plans to break ground in 2019, for $35 million. An existing 195,000 square foot office building stands on the property. Cresset plans to complete permitting for the proposed development, which was originally proposed by seller RD Management and would retain the existing building, this year. The 5 Middlesex Avenue development was a key component of the City of Somerville’s recent submission to Amazon’s headquarters request for proposals (RFP), and would include approximately 1.7 million square feet of office/lab space in addition to residences, retail and hotel rooms. East Boston Savings Bank provided $31 million in mortgage financing towards Cresset’s acquisition of the development site, which is located steps from the recently opened Assembly MBTA Orange Line station and minutes from Interstate 93.


7 Newbury Street
- Jun 02, 2017

Novaya and UrbanMeritage acquire Newbury Street mixed-use building for $26 million Novaya Real Estate Ventures and UrbanMeritage have acquired 7-9 Newbury Street, a 15,290-square-foot mixed-use building, for $26 million in cash. The sale amounts to $1,700.46 per building square foot. Seller C. Talanian Realty acquired 7-9 Newbury Street in July 1996 for $4.58 million, or $299.54 per square foot. 7-9 Newbury Street features 11,200 square feet of fully-leased office space, with ground-floor retail anchored by coffee bar Nespresso.


Xmbly
- Oct 16, 2016

1.9 million square foot development coming to Assembly Row RD Management has filed an Environmental Notification Form (ENF) with the Executive Office of Energy and Environmental Affairs with new details of a 1.9 million square foot, four-phase mixed-use development project planned for a 9.4-acre Assembly Row parcel largely comprised of surface parking; the following is a link to the filing. Hotel, lab, office, residential and retail uses would be constructed; an existing 195,000 square foot office building would be retained. RD Management has not yet filed plans with the Somerville Planning Board for the project. Per the ENF filing, RD Management has contracted with a hotel developer who is ready to begin design and construction of Phase 1, a five-story mixed-use building containing a 188-room hotel, 147 residential units and ground-floor retail. Banker & Tradesman reports that RD Management hopes to start construction of Phase 1 in Spring 2017. Additional information about the proposed project can be found above.


8 Newbury Street
- Mar 22, 2016

Interior and exterior restoration continues to progress at 8 Newbury Street. This most intricate project pays special attention to historic details; the building's historic facade is being fully taken down, restored and rebuilt. 8 Newbury Street will be a standout project on Newbury Street, one of Boston's premier retail districts. The building will feature a mix of office and retail space.


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16 Esquire Road
Acquired By Proponent
16 Esquire Road, Billerica, MA, 01862
38 Forge Parkway
Acquired By Proponent
38 Forge Parkway, Franklin, MA, 02038-3108
7 Newbury Street
Acquired By Proponent
7 Newbury Street, Boston, MA, 02116
344 Newbury Street
Acquired By Proponent
344 Newbury Street, Boston, MA, 02199
1 Robbins Road
Acquired By Proponent
1 Robbins Road, Westford, MA, 01460