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
41
Avg $/SF
$313
Avg/$/Unit
$317,311
Volume
$2,216,541,182
Info as of May 2, 2024
Multifamily 25+ Units
Italics Denotes Partial Sale
| City | Property Name | Address | Units | SF | $/SF | $/Unit | Sale Price | Close Date | Buyer | Seller |
|---|---|---|---|---|---|---|---|---|---|---|
| Westford | Abbot Mill | 1 Pleasant St | 233 | 248330 | 188 | 200,408 | 46,695,000 | 04/16/24 | Aker Companies | Yule Development |
| Methuen | Loop83 | 83 Pleasant Valley St | 156 | 184307 | 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 | 46270 | 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 | 26235 | 314 | 229,167 | 8,250,000 | 03/01/24 | Irshad Sideeka | Arrowpoint Properties |
| Boston | The Sudbury | 100 Sudbury St | 368 | 359,904 | 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 |
| Brookline | Pelham Hall | 1284 Beacon St | 148 | 134,756 | 519 | 472,973 | 70,000,000 | 12/28/23 | Aker Companies | Atalaya Capital Management |
| Hudson | Highlands at Hudson | 307 Central St | 158 | 220,595 | 179 | 250,000 | 39,500,000 | 12/27/23 | TruAmerica Multifamily, Inc. | Jefferson Apartment Group |
| Fitchburg | Forest Ridge | 6 Mary Anna Dr | 90 | 91,764 | 134 | 136,667 | 12,300,000 | 12/26/23 | Shorelight Real Estate | Taymil Partners |
| Norwood | One Upland | 8 Upland Woods Cir | 262 | 252,000 | 454 | 436,260 | 114,300,000 | 12/18/23 | UDR, Inc. | Cottonwood Residential |
| Kingston | The Point at Kingston | 1 Kingston Collection Way | 282 | 292,353 | 364 | 377,660 | 106,500,000 | 12/15/23 | Pantzer Properties | Crow Holdings |
| Marlborough | Talia Apartments | 155 Ames St | 225 | 355,415 | 208 | 329,002 | 74,025,436 | 12/07/23 | The DSF Group | Fairfield Residential |
| Framingham | Parkside Apartments | 301 Grant St | 30 | 19,280 | 322 | 206,667 | 6,200,000 | 12/01/23 | Michel Ermani | VTT Management |
| Canton | Prynne Hills | 9 Bay Dr | 472 | 474,330 | 303 | 304,025 | 143,500,000 | 11/13/23 | Friedkin Property Group | Blackstone |
| Lynn | Ironwood Apartments | 215 Fairmount Ave | 100 | 125,930 | 230 | 290,000 | 29,000,000 | 11/13/23 | Forest Properties | Procopio Companies |
| Lawrence | American Woolen Mills Townhouses | 1-14 Wood Way | 42 | 26,000 | 212 | 130,952 | 5,500,000 | 09/28/23 | Shorelight Real Estate | Stephen Wolfberg |
| Cambridge | Urbane at Alewife | 50 Cambridgepark Dr | 294 | 374,177 | 486 | 619,048 | 182,000,000 | 09/27/23 | The Goldman Sachs Group, Inc | The Hanover Company |
| Framingham | The Grant Street Complex | 115-133 Grant St | 26 | 28,320 | 226 | 246,154 | 6,400,000 | 09/26/23 | Omer Granot | VTT Management |
| Malden | 103 Clifton St | 103 Clifton St | 33 | 10,375 | 275 | 86,364 | 2,850,000 | 09/25/23 | United Properties, Inc. | John Mancini |
| Malden | The Fellsgate | 525 Highland Ave | 31 | 31,680 | 220 | 225,000 | 6,975,000 | 09/15/23 | Coolidge Properties | Bara Realty |
| Billerica | The Val | 164 Lexington Rd | 211 | 249,200 | 371 | 438,626 | 92,550,000 | 09/14/23 | Stars REI | GID |
| Worcester | 31 Caroline St | 31 Caroline St | 30 | 29,544 | 213 | 210,000 | 6,300,000 | 09/13/23 | Maria Long | Carol Foley |
| Worcester | Parkview Apartments | 46-50 Barnes Ave | 30 | 36,936 | 89 | 110,000 | 3,300,000 | 08/23/23 | Adel Mouawad | Bechara Fren |
| Boston | 80 Gardner St | 80 Gardner St | 28 | 32,152 | 383 | 439,286 | 12,300,000 | 08/15/23 | Alpha Management | Rhonda Stisi |
| Newton | 175 Adams St | 175 Adams St | 31 | 33,000 | 341 | 362,903 | 11,250,000 | 08/15/23 | Alpha Management | Rhonda Stisi |
| Billerica | Middlesex Crossing | 158 Concord Rd | 252 | 225,792 | 303 | 271,210 | 68,345,000 | 08/08/23 | Bridge Investment Group | Harbor Group |
| Weymouth | The Point at Weymouth | 39 Trotter Rd | 237 | 322,174 | 294 | 399,156 | 94,600,000 | 07/28/23 | Pantzer Properties | Marcus Partners |
| Medford | Arcadia at Rivers Edge | 100 Rivers Edge Dr | 222 | 254,060 | 407 | 466,216 | 103,500,000 | 07/07/23 | Pacific Urban Investors | John Hancock |
| Newton | The Aven at Newton Highlands | 99 Needham St | 294 | 387,550 | 437 | 576,095 | 169,371,878 | 06/30/23 | Abacus Capital Group | AvalonBay |
| Tewksbury | Lodge at Ames Pond | 1 Ames Hill Dr | 364 | 382,446 | 354 | 372,158 | 135,465,396 | 06/29/23 | LaSalle | Met Life |
| Boston | 16 Westland Ave | 16 Westland Ave | 55 | 38,430 | 601 | 420,000 | 23,100,000 | 06/28/23 | Premier Capital Partners | Serone |
| Somerville | Revolution at Assembly Row | 290 Revolution Dr | 329 | 335,356 | 561 | 571,429 | 188,000,000 | 06/02/23 | Mesirow Financial | Wood Partners |
| Lowell | 134 Willard St | 134 Willard St | 48 | 31,224 | 271 | 176,377 | 8,466,088 | 05/30/23 | SMG | Pasciuto Properties |
| Lawrence | Legacy Park Apartments | 112-114 Marston St | 104 | 98,295 | 219 | 206,731 | 21,500,000 | 05/22/23 | Gabriel Dorfman | Federated Companies |
| Lowell | Prince Stevens Apartments | 144-148 Stevens St | 35 | 30,160 | 184 | 158,620 | 5,551,684 | 05/02/23 | SMG | Barry Finegold |
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