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Tue, Jan 26
A Compendium of Property & Capital News
Tue
Jan 26
A Compendium of Property & Capital News

Cawley and Jasinski of UMF Marketing Rare Pair of Beacon Hill Multifamilies

December 07, 2020
45 Hancock St. Beacon Hill Boston MA

BOSTON–In a year of uniques (to say the least) the multifamily market has continued its triumphant march to the end of 2020, as the asset class continues to trade despite pandemic disruptions. To that end, United Multi Family (UMF) took a rare pair of historical Beacon Hill assets to market in mid-November.

“The opportunity to purchase a multifamily and mixed-use portfolio like this in Beacon Hill is extremely rare,” says UMF agent, Nick Jasinski, regarding the two-building listing in one of America’s oldest neighborhoods, dubbed, ‘The Beacon Hill Collection.’ Jasinski, along with UMF President, Rich Cawley are handling the assignment.

The five-unit residence, in the heart of Beacon Hill’s chronicled neighborhood at 45 Hancock St boasts two one-bed units, two two-bed units, and one four-bed unit; which, according to the collection’s marketing material, ‘offers amazing original character for a buyer looking to buy and hold, while still leaving enough updates that a developer could transition into a condo conversion.’ As with many quintessential homes on Beacon Hill, the Hancock’s exterior offers a charming courtyard-style cobblestone and masonry finished patio; just steps to famed Charles Street.

As to Charles, the second offered building presents both retail and residential, in the mixed-use asset at 49 Charles St., pitched with its floor-level retail under lease to a national brand. “Right now we have confirmation from the retailer, Margaret O’Leary, the current tenant, that they plan on staying at Charles Street,” says Jasinski.

Known for its unique women’s sweater offerings, according to its website, The San Francisco-based, retail specialty boasts “the most sumptuous cashmere, finest Merino wool, as well as the softest linen and organic cotton available. Boston is just one of the dozen boutiques in its footprint - with the majority hailing from the west coast.

The collections residential piece consists of one one-bed and one two-bed unit with one-and-a-half bathrooms. “The one-bed apartment could easily be converted to a studio plus an office space - and the two-bed apartment offers tremendous space, being it is a duplex unit,” said Jasinski.

Jasinski says Its historical relevance and purchase options have already received dozens of requests. “Each building offers original character, on two of Boston’s most beautiful, historic streets, that you just don’t see anywhere else. Buyers have the option to keep them as-is to maintain the character or perform renovations to bring a modern feel to the historic structures. Either way, there is a great return to be had here, and I’m excited for the new investors.”

Nick Jasinski Rich Cawley 49 Charles St. Boston MA