Colliers International is pleased to present for sale 1515 Commonwealth Avenue in Brighton, Massachusetts, a 2.12 acre re-development opportunity with immediate access to Downtown Boston via the MBTA Green Line – B Branch.
The four-story plus basement brick structure currently on the Site measures 58,420 GSF. Previously operated as a 59-bed long term acute care hospital, the building has been renovated over time and includes dining facilities, common area amenities and large parking lot, providing additional FAR for redevelopment opportunities. 1515 Commonwealth Avenue will be delivered vacant, lending itself well to investors looking for a prime, transit-oriented development in a booming submarket immediately outside Boston’s core.
Located 0.2 miles from two MBTA Green Line stops, 1515 Commonwealth Avenue is surrounded by major institutions and employers in Greater Boston, making the Site an ideal setting for residents or office tenants alike.
1515 Commonwealth Avenue is available on an un-priced basis. Additional due diligence materials are available for qualified buyers. We will be conducting tours of the property in the coming weeks with a call for offers to follow.
BRIGHTON’S MULTI-FAMILY BOOM
The Brighton multi-family market continues to show increased growth. Offering a slight discount to downtown A+ products, rentals at neighboring developments are achieving over $4.75/SF while condominium trades at new developments extend past $1,000,000, or $1,000/SF. The property at 1515 Commonwealth Avenue is poised to benefit from the continued growth in the booming housing market.
CRITICAL MASS OPPORTUNITY
The Allston/Brighton submarket has been the destination for several large-scale office, residential and mixed-use projects over the past few years. Nearby developments include Boston Landing, the mixed-use, 650-unit redevelopment of Saint Gabriel's Monastery, and Harvard University’s progress towards a 9-building, 100+ acre development in Allston.
With over two acres, and the density precedents set nearby, a project of a size befitting institutional investors may be feasible at 1515 Commonwealth Avenue.
STRONG NEIGHBORHOOD AMENITIES
1515 Commonwealth Avenue is situated in a highly amenitized location; walking distance from new mixed-use developments, Coolidge Corner, Brighton Center, and Allston’s vibrant nightlife, the property provides ease of access to a variety of services.
2.12 Acres (92,289 SF)
160 Federal Street, Boston MA, 02110 | Phone 617 330 8000 | Fax 617 330 8127 | colliers.com