Multifamily Comps
Why are Comparable Properties Important in Multifamily Real Estate?
Comparable properties, also known as comps, are important in multifamily real estate because they provide a benchmark for evaluating the value of a particular property. By comparing a property to similar properties that have recently sold in the same area, investors and appraisers can get a better understanding of the property’s value and potential for generating income.
There are several factors that can influence the value of a multifamily property, including the location, size, age, condition, and amenities of the property. By comparing a property to similar properties that have recently sold, investors and appraisers can take these factors into account and make more informed decisions about the property’s value.
In addition to helping investors and appraisers determine the value of a property, comparable properties can also be useful for negotiating the price of a property or for setting rental rates. By understanding the prices and rental rates of similar properties in the area, investors and landlords can make more informed decisions about how much to charge for rent or how much to offer for a property.
Overall, comparable properties are an important tool for evaluating the value of multifamily real estate and making informed decisions about buying, selling, or renting properties.
Summary Stats
Transactions
46
Avg $/SF
$353
Avg/$/Unit
$359,184
Volume
$3,077,037,195
Info as of January 2, 2025
Multifamily 25+ Units
Italics Denotes Partial Sale
| City | Property Name | Address | Units | SF | $/SF | $/Unit | Sale Price | Close Date | Buyer | Seller | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Boston | Baker Chocolate Factory Apartments | 1220 Adams St | 133 | 106,731 | 384 | 308,271 | 41,000,000 | 12/16/24 | Wingate Companies | Fairfield | |
| Hudson | Matrix Hudson | 1000 Matrix Way | 176 | 211,255 | 316 | 379,261 | 66,750,000 | 12/12/24 | Zurich Alternative Asset Management | Claremont Companies | |
| Medway | Hathon | 39 Main St | 190 | 270,616 | 279 | 397,895 | 75,600,000 | 12/11/24 | Eaton Vance | Toll Brothers | |
| Norton | Avana East Main | 274 E Main St | 188 | 289,000 | 247 | 378,989 | 71,250,000 | 12/06/24 | Greystar Real Estate Partners | Jones Street/Campenelli | |
| Lowell | The Residences at Crosspoint | 42 Wellman St | 240 | 403,574 | 211 | 354,479 | 85,075,000 | 12/04/24 | Osso Capital | SMC Management | |
| Plymouth | Marq at The Pinehills | 40 Pinehills Dr | 220 | 264,209 | 327 | 393,182 | 86,500,000 | 11/26/24 | Alliance Residential Company | The Hanover Co/John Hancock | |
| Danvers | Brightview Danvers | 50 Endicott St | 160 | 160,000 | 278 | 277,925 | 44,468,000 | 11/25/24 | Morgan Stanley & Co. LLC | PGIM | |
| Newton | Modera Newton | 2 Los Angeles St | 205 | 194,191 | 587 | 556,098 | 114,000,000 | 11/08/24 | Mill Creek Residential | Criterion Development | |
| Hanover | Webster Woods | 295 Webster St | 76 | 100,646 | 258 | 341,447 | 25,950,000 | 11/07/24 | COPA Real Estate Investments | Jones Street | |
| Weymouth | Tammy Brook | 155 King Ave | 90 | 86,396 | 275 | 264,444 | 23,800,000 | 11/06/24 | Preservation Equity Fund Advisors, LLC | Beacon Communities | |
| Boston | Spring Street Apartments | 97 Spring St | 32 | 34,500 | 263 | 283,594 | 9,075,000 | 10/31/24 | Block Properties | Spring Street Associates | |
| Saugus | The Residences at Stevens Pond | 1 Founders Way | 326 | 390,486 | 399 | 477,761 | 155,750,000 | 10/30/24 | Waterton | JRK | |
| Everett | The Batch Yard | 25 Charlton St | 328 | 279,203 | 505 | 430,183 | 141,100,000 | 10/28/24 | LCOR | Post Road Residential | |
| Lawrence | Washington Mill 240 | 240-270 Canal St | 435 | 335,954 | 362 | 279,885 | 121,750,000 | 10/17/24 | Osso Capital LLC | Berkeley Investments | |
| Boston | 100 Hemenway | 100 Hemenway St | 50 | 69,198 | 520 | 720,000 | 36,000,000 | 10/16/24 | Wingate | Davis | |
| Boston | One Greenway | 99 Kneeland St | 217 | 181,442 | 680 | 568,777 | 123,424,698 | 10/10/24 | AIR Communities | PGIM | |
| Haverhill | The Ellis Factory | 24 Essex St | 59 | 59,530 | 230 | 232,203 | 13,700,000 | 10/08/24 | SMC Management Corporation | Chinburg Properties | |
| Shrewsbury | Bell Shrewsbury | 35 Harrington Ave | 250 | 276,621 | 347 | 384,000 | 96,000,000 | 10/03/24 | Bell Partners, Inc. | BlueRock | |
| Boston | Velo Forest Hills | 3686 Washington St | 250 | 235,000 | 436 | 410,000 | 102,500,000 | 09/25/24 | Nuveen | Criterion Development | |
| Billerica | The Villas at Old Concord | 4 Riverhurst Rd | 324 | 440,376 | 260 | 353,395 | 114,500,000 | 09/24/24 | TruAmerica Multifamily | The Hanover Company | |
| Boston | 11 Tetlow St | 11 Tetlow St | 62 | 35,800 | 520 | 299,981 | 18,598,797 | 09/20/24 | The Isabella Stewart Gardner Museum | Joy Realty Associates | |
| Boston | Fenway Portfolio | Westland Ave & Park Dr | 222 | 159,184 | 640 | 458,896 | 101,875,000 | 09/20/24 | Forest Properties | Joy Realty Associates | |
| Waltham | The Point at Waltham | 341 2nd Ave | 191 | 238,065 | 382 | 476,440 | 91,000,000 | 09/17/24 | Pantzer Properties | Alliance Residential | |
| Somerset | Shawomet Gardens | 102 Shawomet Ave | 240 | 249,273 | 143 | 148,333 | 35,600,000 | 09/13/24 | SMG | Eastern Property Group | |
| Waltham | ReNew Waltham | 20 Middlesex Cir | 696 | 656,847 | 336 | 317,529 | 221,000,000 | 09/12/24 | FPA Multifamily | Harbor Group International | |
| Wayland | Oxbow Wayland | 490 Boston Post Rd | 218 | 253,578 | 389 | 452,752 | 98,700,000 | 08/23/24 | BlackRock | Wood Partners | |
| Lynn | 175 Ocean St | 175 Ocean St | 46 | 34,251 | 365 | 271,739 | 12,500,000 | 07/31/24 | Brickpoint Properties, Inc. | Bayview Realty Corp | |
| Worcester | 556 Mill St | 556 Mill St | 54 | 42,123 | 241 | 187,963 | 10,150,000 | 07/31/24 | Arrowpoint Properties | Chase Family Trust | |
| Newton | Curtis Arms Apartments | 128 North St | 44 | 43,092 | 354 | 346,591 | 15,250,000 | 07/24/24 | Rincon Companies | Casella Family LP | |
| Boston | LUKA on the Commons | 45 Stuart St | 398 | 384,000 | 552 | 532,663 | 212,000,000 | 07/17/24 | Carmel Partners | AvalonBay | |
| Boston | Boston East | 126 Border St | 200 | 216,000 | 395 | 426,250 | 85,250,000 | 07/10/24 | Goldman Sachs Asset Management | American Realty Advisors | |
| Melrose | 119 W Wyoming Ave | 119 W Wyoming Ave | 36 | 30,448 | 343 | 289,861 | 10,435,000 | 06/07/24 | Symes Associates | CMS Partners | |
| Malden | Malden Square Apartments | 480 Main St | 195 | 214,337 | 373 | 410,000 | 79950000 | 05/09/24 | Nuveen | DSF Group | |
| Weymouth | The Helix | 655 Washington St | 160 | 160,000 | 392 | 391,531 | 62,645,000 | 04/30/24 | EQR | Trinity Green | |
| Westford | Abbot Mill | 1 Pleasant St | 233 | 248,330 | 188 | 200,408 | 46,695,000 | 04/16/24 | Aker Companies | Yule Development | |
| Methuen | Loop83 | 83 Pleasant Valley St | 156 | 184,307 | 315 | 372,436 | 58,100,000 | 03/27/24 | Pantzer Properties | Criterion Development | |
| Quincy | Hillside Residences | 23-31 Bridge St | 60 | 64,239 | 298 | 319,095 | 19,145,700 | 03/21/24 | James Cohen | Geoffrey Arend | |
| Somerville | The Princeton | 333 Broadway | 50 | 46,270 | 238 | 220,000 | 11,000,000 | 03/20/24 | Viceroy Capital | A&P Realty Trust | |
| Chelsea | 31-47 Louis St | 31-47 Louis St | 27 | 24,290 | 346 | 311,111 | 8,400,000 | 03/18/24 | Coolidge Landing | Gerald Snerison | |
| Methuen | Union & Grove Apartments | 70 Union St | 36 | 26,235 | 314 | 229,167 | 8,250,000 | 03/01/24 | Irshad Sideeka | Arrowpoint Properties | |
| Boston | The Sudbury | 100 Sudbury St | 368 | 359904 | 119 | 116,848 | 43,000,000 | 02/29/24 | Carmel Partners | HYM | |
| Lawrence | 13-33 Jordan St | 13-33 Jordan St | 27 | 37,142 | 102 | 140,741 | 3,800,000 | 02/29/24 | Arrowpoint Properties | Z4 Properties | |
| Marlborough | The Point at Green District | 1000 Green District Blvd | 235 | 263,979 | 362 | 406,383 | 95,500,000 | 02/23/24 | Pantzer Properties | Post Road Residential | |
| Framingham | Rose Garden Apartments | 258-262 Union Ave | 72 | 70,551 | 234 | 229,167 | 16,500,000 | 01/30/24 | Rockridge Real Estate | VTT Property Management | |
| Boston | One India Apartments | 1 India St | 94 | 99,400 | 624 | 659,574 | 62,000,000 | 01/19/24 | NTT Urban Development | EQR | |
| Boston | Flats on D | 407-415 D St | 197 | 196,110 | 518 | 515,228 | 101,500,000 | 01/05/24 | Eaton Vance | Clarion Partners |
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