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Laconia Lofts, Boston, MA

The Mezz, South Boston, MA

355 Congress Street, Boston, MA

7 Wellington Street, Boston, MA

Hillside Residence, Quincy, MA

Brookside at 999 Hancock, Quincy, MA

10 Merrymount Road, Quincy MA

3 Union Park, Boston, MA

6 Newbury Street, Boston, MA

244 Marlborough Street, Boston, MA

59 Auburn Street

Bedrock Recovery Center, Canton, MA

Ohio Recovery Center, Van Wert, OH

Laconia Lofts, Boston, MA

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Development: Residential Condominium

Address: 1200 Washington Street

Neighborhood: South End, Boston

Units: 2

Year Built: 2024

Building Use(s): Residential Condo

The Mezz, South Boston, MA

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Development: Ground-up Condominium Construction

Address: The Mezz, 420 West Broadway St, Boston, MA

Neighborhood: South Boston

Units: 43

Year Built: 2018

Building Use(s):

PROPERTY DESCRIPTION

PROPERTY: 5-story, Class A residential & commercial asset currently under construction, comprising of 42-residential units and a commercial unit at street level, a two-floor parking garage in the lower two levels consisting of 43 parking spaces. The 35,500 SF of living area includes a billiard/recreational room, spacious building-common roof deck and private balconies in over half of the units. 

Located on West Broadway Street, the Property sits directly in the middle of South Boston’s busiest street, providing endless dining options and numerous local retailers. 

PRICING: Purchased for $8.25MM ($192k/unit) in Q3 2018, BPV anticipates the remaining construction expense to amount to an additional $391k/unit (HC & SC). 

OPPORTUNITY

  • BPD acquired the Property with a building permit ‘in hand’ from a developer who was only looking to sell the asset once permitted. 
  • The property was a dilapidated movie theatre that was sitting vacant since the 1970’s. BPV jumped at the opportunity to acquire and develop an asset in one of Boston’s hottest neighborhoods as well as to bring life back to what was an eyesore for current residents.
  • South Boston’s West Broadway corridor sits within a recently re-zoned area that allows for higher density living and construction.
  • The development is in a premier location due to its proximity to downtown Boston (3 miles), Logan International Airport (3.3 miles) & all local highways as well as the accessibility to MBTA bus lines and the Red Line.

INVESTMENT RATIONALE

  • Through the use of combining private equity and bank financing, BPD is able to bring a high quality product to market comprised of over 50% residential units which are anticipated to be under agreement pre-completion.
  • The average days-on-market for condominiums in the immediate area is 40 days, quantifying the pent up demand for additional condominium products.
  • With the construction costs nearing $585k/unit and anticipated sales of over $720k/unit (including the retail unit at street level & 5-units deeded affordable) BPV knew that with a well-managed construction phase, the deal would be profitable to all involved. 
  • BPD actively targeted the creation of smaller residential units as we believe the reduced average unit size represents a unique opportunity for the market with a highly demanded and completely under supplied unit size and price point.

355 Congress Street, Boston, MA

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Development: Condo Redevelopment

Address: 355 Congress Street, Boston, MA

Neighborhood: Boston - Seaport

Units: 9

Year Built: 2019

Building Use(s):

Located in Boston’s Seaport District, the city’s most dynamic development hub, 355 Congress represented the rare opportunity to convert one of the district’s oldest, most traditional buildings into 9 modern high-end residential living spaces while maintaining 3 existing commercial spaces. The commercial space consists of 2 offices and one iconic local restaurant/bar. The residential condominiums range from studio to three-bedrooms in size.

7 Wellington Street, Boston, MA

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Development: 7 Wellington Street

Address: 7 Wellington Street, Boston, MA

Neighborhood: South End, Boston

Units: 2

Year Built: Under Construction - Est 2026 Completion

Building Use(s): Residential Condo

The property at 7 Wellington Street presented a rare opportunity to acquire a single-family brownstone residence within Boston’s South End Neighborhood. BPD acquired the property which was in serious disrepair in January 2025 and immediately began design and entitlement. The proposed development will subdivide the existing 5 floors into a Garden Level Duplex and Upper Triplex. The exterior of the building will be completely revamped with the repointing of existing masonry, repair of the historic cornice, replacement of all doors & windows and the reintroduction of the historic street stairs that were removed years prior. In addition, a roof deck is proposed for exclusive use by the top triplex.

Both units will feature spacious living areas, designer kitchens and high-end finishes. Completion is estimated for Q1 2026.

Hillside Residence, Quincy, MA

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Development: Ground-up Residential Rental

Address: 23-31 Bridge Street, Quincy, MA

Neighborhood: Quincy – Quincy Center

Units: 60

Year Built: 2018

Building Use(s): Residential

Boston Property Development acquired 23-31 Bridge Street, Quincy, which consisted of 3 stand-alone buildings in Q1 of 2017.

The Property was the second phase of the Triple 9 development as it sits adjacent to Triple 9 Brookside, a 53-unit luxury apartment development that was completed Fall 2016. The acquisition of the Property presented a rare opportunity to control and develop nearly three acres of contiguous land in downtown Quincy.

Construction was completed in 2018 and the building consists of 60 rental units over five stories, a two-floor parking garage underneath with 83 parking spots (a ratio of 1.4 per unit), 65,800 sf of living area, inclusive of high-end amenities such as a state-of-the-art gym, spacious roof deck, private balconies and a billiard/recreational room.

BPD quickly leased up the property to 100% occupancy and in 2024, sold the entire asset.

Brookside at 999 Hancock, Quincy, MA

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Development: Ground-up Condominium Construction

Address: 999 Hancock Street, Quincy, MA

Neighborhood: Quincy – Quincy Center

Units: 53

Year Built: 2017

Building Use(s): Residential

Boston Property Development, LLC (BPD) purchased this 2.16 acre parcel of land, formerly the Temple Beth El Synagogue site, in the Spring of 2015 with the view to create an entirely new luxury residential community made up of 113 residential condo and rental units. Triple 9 Brookside represents the first phase of the development consisting of 53-units over 63,000-sf and five stories. The building also boasts a 2-story, 66-space underground parking garage, luxury amenities including; patio and spacious roof deck, private balconies, open-concept living, common state-of-the-art gym and billiard room.

BPD navigated through many complicated site conditions, including the river way setback restrictions to quickly create one of Quincy’s first high-end residential condo buildings. Located within 0.5 miles from Quincy Centre’s T-station on the MBTA’s Red Line, which services downtown Boston via rapid transit. Construction was completed in the Fall of 2016 and 100% of the units were sold within 18 months of handover.

10 Merrymount Road, Quincy MA

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Development: Rental

Address: 10 Merrymount Road, Quincy, MA

Neighborhood: Quincy – Quincy Center

Units: 23

Year Built: 2015

Building Use(s): Rental

BPD set out to convert this 20,000 square foot commercial asset into a 23-unit residential rental building in the city of Quincy, MA. The neighborhood is very convenient for commuting to downtown Boston. BPD also purchased a two-family residential development next to this building to demolish and construct a parking complex to serve the new building. The properties were acquired for $1.8 million. 70% of the project cost was covered by debt, 30% by equity.

Permitting was particularly difficult on this property, but BPD’s professional approach and local permitting expertise were instrumental in winning approval for the project. Each BPD business unit was involved in this project, adding efficiency and value at every stage. BPD was able to maximize the value of the property by adding a floor to the building and building an add-on to the side of the building to satisfy building code requirements. This allowed more internal space to be used by the residents. The property was completed in 10 months, and is currently rented out at 100% occupancy. Appraisal values the property at approximately $8 million.

3 Union Park, Boston, MA

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Development: Condominium Conversion

Address: 3 Union Park, Boston, MA

Neighborhood: South End

Units: 3

Year Built: 2017

Building Use(s): Residential/Commercial

6 Newbury Street, Boston, MA

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Development: Condominium conversion

Address: 6 Newbury Street, Boston, MA

Neighborhood: Back Bay

Units: 1

Year Built: 2016

Building Use(s): Residential

A broker called Boston Property Development, LLC (BPD) with a property that was on the market, but had recently fallen out of agreement. The property was part of a newly-constructed shell with 6,000 square feet of open space. It was centrally located in a high-value district, and a combination of its location and the market demand for luxury condominiums suggested this was a prime opportunity for BPD to further establish itself as a developer of luxury condominiums. The ground and second floors of the building were occupied by a Chanel retail location and the other floors had already sold. BPD bought the remaining floor for $7.25 million, with a 70%-30% debt-equity ratio.

Turning an open 6,000 square feet of living space into a high-end condominium provided unique challenges for the team at BPD. The floor plan had to be designed just right, in order to achieve the highest price point. Several architectural plans were designed to accommodate constraints in the original building shell. The final floor plan was executed flawlessly by the construction team, perfectly complementing the location of the unit as well as the available space. The finished unit sold 18 months after acquisition for $11.5 million, the most expensive condominium sold in Boston at the time of sale.

244 Marlborough Street, Boston, MA

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Development: Condominium conversion

Address: 244 Marlborough Street, Boston, MA

Neighborhood: Back Bay

Units: 2

Year Built: 2016

Building Use(s): Residential

Boston Property Development, LLC (BPD) received the opportunity to develop a 7,000 square foot Victorian brownstone home on highly sought after Marlborough Street in Boston’s Back Bay. This opportunity was an off-the-market sale found through a personal relationship with the seller. The previous owner of this single-family home had passed away, leaving the home as an estate sale. The relatively inefficient nature of the sales process allowed BPD to acquire the property at an advantageous price. The initial purchase was made with 75% debt, 25% equity.

BPD was able to take this old Victorian building and modernize it into two units: a bottom-level triplex and top-level duplex. BPD designed a staircase that was complex and intricate to build, but which connected all floors of the bottom triplex in a unique and elegant way. BPD’s forward thinking experts were able to apply recent building code changes in order to reallocate internal space, allowing for a better layout with more efficient space usage. BPD’s personal relationships with the seller, local architects, the Back Bay Architectural Commission, and local contractors contributed to the successful completion of this project. The finished project sold after 18 months for $11.3 million.

59 Auburn Street

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Development: Residential Condo

Address: 59 Auburn Street, Brookline, MA

Neighborhood: Brookline Village

Units: 3

Year Built: 2019

Building Use(s): Residential

Auburn Street was acquired by Boston Property Development, LLC (BPD) as on off market deal through a broker relationship. Located within walking distance of one of Brookline’s’ busiest hubs with access to both transport and entertainment, BPD immediately saw the potential to convert the 3 unit rental into high-end, luxury condominiums.

Utilizing an unfinished basement and altering the pitch of the existing roof, BPD was able to increase the livable square footage by 2,000 SF and introduce 4 livable floors consisting of a bottom duplex, middle and top level floor-through units. Private rear patio and upper floor decks were introduced, providing outdoor living space for all future buyers.

Of the $3.8MM needed to complete the project, only $260k (7%) was brought in as equity. An additional $730k (19%) of Mezzanine debt was raised through Boston Property Capital LLC, providing a return for both entities and maximizing the developments ROI & IRR.

Bedrock Recovery Center, Canton, MA

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Development: Bedrock Recovery Center

Address: 1 Meadowbrook Way, Canton, MA

Neighborhood: Canton, MA

Units: 125

Year Built: 2017

Building Use(s): Commercial

Prior to acquisition, the property was utilized as a nursing home. Boston Property Development, LLC purchased the property in 2017 and renovated the property to be utilized as a high-end detox and residential recovery center. The property features on site food services and dining, fully renovated patient and treatment rooms, a fitness center, movie theatre and exterior recreation space.

Ohio Recovery Center, Van Wert, OH

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Development: Commercial Renovation

Address: 15145 Lincoln Highway, Van Wert, OH

Neighborhood: Van Wert, OH

Units: 125

Year Built: 2018

Building Use(s): Commercial

Boston Property Development, LLC (BPD) purchased the existing 50-acre campus in 2017. The complex was renovated for use as a recovery center comprising of 25 beds dedicated to detox and 100 beds dedicated to the residential program. In addition to patient rooms, the campus includes a fitness center, recreational spaces, group therapy rooms, nursing stations, and food preparation and dining areas.

Map of 15145 Lincoln Hwy, Van Wert, OH 45891

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Contact Us

500 Victory Road, 3rd Floor Quincy, MA 02171

617.282.1400

617.321.4900

Email Us

Recent Projects
  • Ohio Recovery Center, Van Wert, OH
  • Bedrock Recovery Center, Canton, MA
  • 59 Auburn Street
  • 244 Marlborough Street, Boston, MA
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