$7,300,000
$8,000,000
8.8%For more information regarding the value of a property, please contact us for a free consultation.
21 Allen Street Somerville, MA 02143
76 Beds
88 Baths
47,572 SqFt
Key Details
Sold Price $7,300,000
Property Type Multi-Family
Sub Type 5+ Family - 5+ Units Up/Down
Listing Status Sold
Purchase Type For Sale
Square Footage 47,572 sqft
Price per Sqft $153
MLS Listing ID 73329721
Sold Date 01/27/25
Bedrooms 76
Full Baths 85
Half Baths 6
Year Built 2025
Annual Tax Amount $57,409
Tax Year 2024
Lot Size 0.410 Acres
Acres 0.41
Property Description
The Ropewalk is a 69-unit multi-family development in the heart of Union Square, adjacent to the newly opened MBTA Station. The arrival of the Green Line Transit Station has precipitated a rapid transformation of the Square. The Square's $2 billion, 3.8 million SF master-planned development, coined USQ spans 20 acres and includes 2.4M SF of lab and innovation space,150,000 SF of retail and restaurant space, and 4.7 acres of vibrant open spaces. Phase I was delivered by Magellan Development in Q3 2023 with future phases set to break ground in 2024. Boynton Yards and Somerville Gateway which border Union Square to the east and south are complimentary master-planned developments adding a combined 4.1 million SF state-of-the-art life sciences/biotech, hotel, and retail spaces to the broader neighborhood. The project is in a qualified OZ and has been permitted as a Passive House project; set to achieve the highest level of sustainability. Approvals allow for either apartments or condos.
Location
State MA
County Middlesex
Zoning UR
Direction 200' North on Bennet Ct from Union Square GLX station
Exterior
Fence Fenced/Enclosed
Community Features Public Transportation, Shopping, Bike Path, Public School, T-Station, University
View Y/N Yes
View City View(s)
Garage No
Building
Lot Description Cleared, Level
Story 12
Foundation Concrete Perimeter
Sewer Public Sewer
Water Public
Others
Senior Community false
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Bought with Ryan Taylor • Fortune RE