Image courtesy of Dimella Shaffer

A permitted Allston multifamily project blocks from the just-approved Allston Square and the proposed Allston Landing mega-project has been sold for a $31 million.

The Michaels Organization sold the 270,170-square-foot, 265-unit project to an affiliate of North Carolina-based Lennar Multifamily Communities, according to information filed in the Suffolk Registry of Deeds.

Comprised of two buildings, including one wrapped around a Unitronics automatic parking garage, the project at 40 Rugg Road takes up most of the block bordered by Penniman Road, Rugg Road and Boylston Street. The project sites wrap around a recently completed 36-unit condominium building on the same block called Penniman on the Park and a former industrial building next door at 30 Penniman Road.

The project was approved by the Boston Planning & Development Agency board in 2018, but building permits have not yet been pulled for the building, according to the city’s online database.

Updated 4:40 p.m. Dec. 3, 2019: An earlier version of this story incorrectly described the ownership structure of the Penniman on the Park building. Neither that building at 20 Penniman Road nor the building at 30 Penniman Road were included in the sate..