433 Marlborough Street Update 02/18/21

Back Bay Brownstone Sold for $3.6 Million

Peter Papesch - representative of the Barbara Papesch Estate - sold 433 Marlborough Street to 433 Marlborough, LLC - a subsidiary of TCR Development - for $3,625,000. A brownstone multifamily dwelling in Boston's Back Bay neighborhood, 433 Marlborough Street was built in 1899 and features 4,695 SF of living space. FinanceBoston arranged $5,512,500 in debt financing for the acquisition. Additionally, the loan will cover the cost to renovate and convert the property into two luxury duplex condominium units. The floor plans will total six bedrooms, six baths, a newly finished basement, and elevator access to the upper unit.

“It was a pleasure to work with my client on this transaction,” said Alex Blake, Senior Associate at FinanceBoston. “The conversion of this underutilized building to luxury condominiums is in keeping with the street’s luxury residential use. I’m very much looking forward to seeing the end product, as I know my client has a proven track record of delivering high-end results.”

 

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