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Burlington Management Buys 18-Unit Chelsea Apartments For $1.55M

Sep 6, 2012 | Reprints | Print

Burlington Management has bought 18 apartment units at 156-160 Park St. and 161-165 Pearl St. in Chelsea for $1.55 million.

NAI Hunneman’s Carl Christie, executive vice president/principal, and Dan McGee, investment sales specialist, represented the seller, Park & Pearl Realty LLC, as well as procuring the buyer.

The 18 apartment units at 156-160 Park St. and 161-165 Pearl St. are housed in two separate, three-story brick rowhouse buildings. The 8,966-square-foot Park Street building was constructed circa 1900. The 10,296-square-foot Pearl Street building was erected in the early 1920s. The apartments include four one-bedroom units, 10 two-bedroom units and four three-bedroom units.

"The apartments…represent an excellent investment opportunity for their new owner," said Christie in a statement. "Dan McGee and I were very pleased to help the seller find the right buyer and realize full value for these outstanding assets."

Commercial & Industrial