Glaskin, Leppo Of Coldwell Banker Sell Prime Somerville Site Approved For 40 Units For $5.68m
SOMERVILLE, MASS. (Oct. 24, 2024) – Todd Glaskin and Gregg Leppo of Coldwell Banker Commercial Realty recently closed a $5,680,000 transaction for a 0.27-acre tract of prime land at 13-17 Allen Street in Somerville that is approved for 40 new-construction residential units.
Glaskin and Leppo procured the buyer, Elan Sasson, a premier local developer of Somerville Allen Street, LLC. Michael Kuritnik and Boris Kuritnik of Greenville Real Estate Group, Inc. represented the seller, Kumo Capital.
The quarter-acre site is ready to be developed into nearly 36,000 gross square feet of housing. It is positioned steps from Union Square and just minutes to the Cambridge line.
“This was a rare offering of a prime approved and permitted site ready to build in one of Greater Boston’s most desirable locations,” said Glaskin. “It was purchased by an exceptional builder we have known for years and whose market knowledge, reputation and experience made him the perfect buyer. The building is a stunning architect-designed project with an ideal unit mix. Despite the increased interest-rate climate, we saw strong interest for this ready-to-go property.”
About Coldwell Banker Commercial Affiliates
Coldwell Banker Commercial Realty, an affiliate of Coldwell Banker Commercial®, provides commercial real estate solutions serving the needs of owners and occupiers in the leasing, acquisition and disposition of all property types. With a collaborative network of independently owned and operated affiliates, the Coldwell Banker Commercial organization comprises almost 200 companies and more than 3,000 professionals throughout the U.S. and internationally. For additional information, visit www.cbcworldwide.com.
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Media Contact:
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Email: kevin.guhl@cbhomeoffice.com
Phone: 973-407-5916
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