95 Fawcett Street

Core in Place & Framing Underway at 95 Fawcett St

The concrete core is in place and steel framing has kicked off for 95 Fawcett Street in Cambridge. The upcoming 5-story building will feature 44 units just a few minutes from Alewife Station. The building will also include 48 vehicle parking spaces and 60 bicycle spaces. 

95 Fawcett St. in Cambridge Refinanced for $18.93M

FinanceBoston has arranged senior cash-out financing, secured by a 44-unit condo property located in the Alewife neighborhood of Cambridge. The development, 95 Fawcett Street, is located steps from the Alewife MBTA Station. The convenient location of this project is part of an exciting mixed-use area that will soon benefit from a major influx of lab and office tenants.

“This closing was completed by arranging a financing structure which involved a syndication between two local banks, “ said Doug Landry, Principal at Boston-based FinanceBoston. “This project should go up quickly and greatly enhance the neighborhood for years to come."

 

FinanceBoston, a real estate capital advisory firm, provides real estate operators & developers with custom capital solutions for acquisitions, developments and refinances. Founded in 2004, FinanceBoston has earned a loyal client base that continuously relies on the firm’s creative capital advisory solutions for both debt and equity needs.

KEMS Corporation Remortgages Cambridge Parcel

Lynnfield based, KEMS Corporation has successfully remortgaged their property at 95 Fawcett Street in Cambridge for $18.86 million via MountainOne Bank. 

 The existing property is a 20,523 square foot parcel on which stands a 20,150 square foot warehouse. Atmark Cambridge, a newly-constructed apartment development, is located just across Fawcett Street and sits in the highly active Alewife Station, Cambridge neighborhood.

95 Fawcett Street, 44 transit-oriented Alewife condominiums, approved for construction

The Cambridge Planning Board has approved a residential building at 95 Fawcett Street for construction. Developed by KEMS Corporation, who is also building 170 West Broadway and Collins Mansion Condominiums in South Boston, the building will feature 44 condominiums located convenient to the Alewife rapid transit station. 44 resident parking spaces will be constructed on site, down from previously proposed 48 spaces.

95 Fawcett Street will be a transit-oriented development project. Discounted public transit passes will be available to residents along with private shuttle service to Alewife Station. The developer will contribute $25,000 to the City of Cambridge towards planning for an Alewife bicycle and pedestrian bridge and commuter rail station. The developer will also contribute $25,000 to the City of Cambridge towards a Hubway station for the area. An on-site bicycle storage facility with 60 long-term bicycle spaces and eight short-term bicycle spaces will be constructed at 95 Fawcett Street with air pumps, automatic power assist doors and bicycle maintenance tools.

The following is a link to the Cambridge Planning Board's Notice of Decision for 95 Fawcett Street. More information about 95 Fawcett Street is posted below.

South Boston developer proposes new Alewife condominiums

Developer Edward Doherty of KEMS Corporation, who is developing significant projects in South Boston, proposes to build a new five-story, 52,852 square foot residential building at 95 Fawcett Street near Alewife Station. The building would contain 44 residential condominium units; five units would be designated affordable.

Residents at 95 Fawcett Street would have access to a 1,826 square foot roof deck. 48 parking spaces would be built on site both at and below grade.

Doherty closed on the acquisition of the 95 Fawcett Street parcel in February 2016. An existing two-story warehouse building would be demolished.

Above is a rendering of the proposed 95 Fawcett Street. Below is a second rendering:

The following is a link to the special permit submission to the Cambridge Planning Board for 95 Fawcett Street.

95 Fawcett Street sold to developer KEMS Corporation for $4.65 million

95 Fawcett Street was sold Wednesday to 95 Fawcett Street LLC, a limited liability company registered to Edward Doherty, President of residential developer KEMS Corporation. Sale price was $4,650,000 as recorded in the Middlesex South Registry of Deeds. Seller was 87-89 Fawcett Street LLC, a limited liability company registered to Peter Givertzman, ‎President of furniture company Oriental Unlimited Inc. Oriental Unlimited Inc. has been based at the existing warehouse at 95 Fawcett Street and currently operates at adjacent 68 Moulton Street in Cambridge. 87-89 Fawcett Street LLC bought 95 Fawcett Street in October 2008 for $1,644,000.

KEMS Corporation has built a number of residential developments in the Boston area. KEMS Corporation is currently building 170 West Broadway and Collins Mansion Condominiums, both under construction in South Boston.

95 Fawcett Street is a 20,523 square foot parcel on which stands a 20,150 square foot warehouse. The parcel is located directly across Fawcett Street from Atmark Cambridge, a newly-constructed apartment development.

The following is the deed for the sale of 95 Fawcett Street: