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Fri, Jul 1
A Compendium of Property & Capital News
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Jul 1
A Compendium of Property & Capital News

Recent Trades

Situated on Former Notorious State Hospital Land Danvers Apartment Complex Sold for $207.35M

June 01, 2022 $207.35M
The Bradlee Danvers apartment complex in Danvers, MA has traded hands for $207.35 million. The seller is Danvers Gardens LLC (DSF IV Danvers Owner LLC), which bought the property for $108.5 million from the original owner, AvalonBay, in 2014. The buyer is Bradlee Danvers, affiliated with multi-family homeowner UDR out of Highlands Ranch, Colorado.

The property is built on land that was once home to 2,400 individuals committed to the Danvers State Hospital, also called The State Lunatic Hospital; a facility used to treat mentally-ill patients. It is also the site where several scenes were shot for the 2001 psychological horror movie, 'Session 9.' An 800-grave cemetery is located outside the perimeter of the multi-building apartment complex.

There are 433 apartments on-site including a private movie theater, yoga studio, and "Kids' Cave". along with a swimming pool, health club, and parking situated on 75-acres of bucolic land. Another 64 condominiums are located next door.

The complex's current moniker, "Bradlee Danvers" is an homage to Nathaniel Bradlee, architect of the former State hospital's main building, now demolished.
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