$30,000,000
29-35 Temple Place Boston, MA 02110
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$30,000,000
Est. payment /mo
42 Beds
32 Baths
26,600 SqFt
UPDATED:
10/04/2024 07:05 AM
Key Details
Property Type Multi-Family
Sub Type 5+ Family - Rooming House
Listing Status Active
Purchase Type For Sale
Square Footage 26,600 sqft
Price per Sqft $1,127
MLS Listing ID 73296327
Bedrooms 42
Full Baths 32
Year Built 1895
Annual Tax Amount $9
Tax Year 9999
Lot Size 4,791 Sqft
Acres 0.11
Property Description
Presenting 29-35 Temple Place (“Temple Place Suites”), which is a 26,600 square foot, 6-story, mixed-use (residential over retail), elevator building, located in the heart of downtown Boston (just feet from Boston Common). Temple Place Suites Suites is designated with a Lodging License for 48 units (although the building is currently configured with only 42), and the current owner operates the residential portion (floors 2 through 6) as short-term, furnished, Airbnb style, rentals. There is a significant Value-Add Opportunity for the next owner to grow revenue by: (i) increasing the room count up to the permitted 48 units (this alone represents a 14.3% increase), (ii) increasing the average unit rental rate which is significantly below market, and (iii) potential additional density increase (current FAR is 8.0). The commercial portion of the building (floors 1 and basement) is fully occupied by one tenant (a micro-brewery, restaurant, and taproom). Apartment furnishings are included.
Location
State MA
County Suffolk
Zoning 9
Direction Located off Tremont Street in Downtown Crossing
Interior
Fireplaces Number 18
Exterior
Waterfront false
Roof Type Rubber
Garage No
Building
Lot Description Other
Story 18
Foundation Concrete Perimeter, Slab
Sewer Public Sewer
Water Public
Others
Senior Community false
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Listed by Cushman & Wakefield