488 DOT developers acquire 13,000 square foot Dorchester Avenue parcel for $3 million
This past Thursday (July 21st, 2016), Timothy Russell and Thomas Broderick of real estate development entity R&B Investments LLC acquired the 13,000 square foot South Boston parcel at 404 Dorchester Avenue, home to Smith's Machine Shop, for $3 million as recorded in the
Suffolk County Registry of Deeds. Russell and Broderick are the developers of 488 DOT, a nearly-complete luxury condominium building located at 488 Dorchester Avenue in South Boston's Andrew Square. 404 Dorchester Avenue last sold in March 2008 for $700,000.
404 Dorchester Avenue is conveniently located between the Andrew and Broadway MBTA Red Line stations near a number of active development projects. The Boston Redevelopment Authority is currently conducting a community planning initiative to form guidelines for future development along Dorchester Avenue in South Boston.
The following is the deed for the sale of 404 Dorchester Avenue to Russell and Broderick:
(Note: Russell and Broderick are the managers of Dorchester Avenue Development, LLC)