Embed Size (px)
Citation preview
1
HYDE PARKTHORN
2
Colliers International is pleased to present for sale 30 Thorn Street, a fully-approved residential development opportunity on a 11,000 SF parcel in Boston’s Hyde Park neighborhood.
30 Thorn Street has approvals in-hand from the BPDA for a 6-story residential building consisting of 45 units (39 market, 6 affordable) and 21 off-street parking spaces. Totaling approximately 40,000 GSF, the development opportunity is nestled among Hyde Park neighborhood amenities, combining the best of Boston-based amenities with rents at a desirable discount to Boston’s inner core.
30 Thorn Street is located 6 ½ miles south of Downtown Boston and is less than a five-minute drive to MBTA’s Mattapan Station, which services the Mattapan Trolley/Red Line. This highly coveted access to public transportation places residents a 30-minute train ride from South Station in downtown Boston. For the commuters who drive, 30 Thorn Street is approximately 8 miles (18 minutes) from downtown Boston via American Legion Highway/Blue Hill Ave.
Hyde Park and the entire Jamaica Plain/West Roxbury submarket have seen tremendous growth during this cycle. Young professionals with high-paying jobs seeking proximity and access to downtown Boston while avoiding skyrocketing rents have been at the heart of this transformation. With only one new multifamily building constructed in the last 35 years, 30 Thorn Street is poised to capitalize on this supply constrained market.
30 Thorn Street offers a flexible, transit-oriented development opportunity situated in the provincial setting of Hyde Park. We are offering this unique investment opportunity for sale on an unpriced basis. Additional information can be found at 30thorn.colliers.com.
EXECUTIVE SUMMARY
3
4
MATTAPANMATTAPANBLUE HILL AVENUEBLUE HILL AVENUE
TO DOWNTOWN BOSTONTO DOWNTOWN BOSTON
THORN
93
38
5
River Stre
et
River Stre
et
INVESTMENT HIGHLIGHTS
FULLY APPROVED OPPORTUNITY30 Thorn Street presents a rarely available fully-approved 45-unit development site in Boston’s Hyde Park neighborhood. The site consists of an approximately 0.25-acre lot in the Thorn Street cul-de-sac. The fully-approved status of the site allows for immediate construction commencement in a desirable burgeoning residential market.
LACK OF NEW SUPPLY With limited new development, Hyde Park has little newly constructed market rate apartment buildings for rent. Over the last 35 years only two multifamily buildings with a total of 21 units have been delivered within a 1-mile radius of 30 Thorn. The majority of existing rental inventory consists of older inefficient product in need of updates. The 30 Thorn apartments will be the newest and one of only luxury product in Lynn. With new product in this area achieving large gross rents, one can capitalize on this supply constrained market.
PROXIMITY TO PUBLIC TRANSIT30 Thorn Street is positioned less than 1-mile from the Mattapan red line station and the Blue Hill Avenue commuter rail station with service to South Station, and approximately 1.25-miles from the Hyde Park commuter rail station and the Fairmount red line station. To points south and providence.
PROPERTY DESCRIPTION
Address: 30 Thorn Street Hyde Park, Massachusetts
Walk Score: 66 – Somewhat walkable
Bike Score: 82 – Very bikeable
Parcel ID: 1801553000
Land Area: 5,500 SF; 0.13 acres
Parcel ID: 1801554000
Land Area: 5,500 SF; 0.13 acres
Total Land Area: 11,000 SF; 0.25 acres
Topography: Level
Access: Curb cut on Thorn Street
Water & Sewer: Public
Cable Providers: Comcast and RCN
Electricity: Eversource Energy
Gas: Eversource Energy
Real Estate Taxes: Year: FY2020
Total Assessment: $71,000
Mill Rate: $10.56
Taxes Due: $750
6
7
8
HYDE PARKTHORN
Colliers International I 160 Federal Street Boston, MA 02110 I colliers.com
MULTI-FAMILY ADVISORY GROUP
CHRIS SOWERExecutive Vice President
617 330 [email protected]
BRUCE LUSASenior Vice President
617 330 [email protected]
JONATHAN BRYANTAssistant Vice President
617 330 [email protected]
JOHN FLAHERTYAssistant Vice President
617 330 [email protected]
This document has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties
of content, accuracy and reliability. Any interested party should undertake their own inquiries as to the accuracy of the information. Colliers International excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising there from. This publication is the copyrighted property of Colliers International and/or its licensor(s).
©2020. All rights reserved.
