Lorraine Terrace Apartments in Allston has sold for $10 million.
Thomas Grillo
Real Estate Editor- Boston Business Journal
A Boston-based company that owns more than 1,600 apartments in Greater Boston has purchased the Lorraine Terrace Apartments in Allston for $10 million.
Micozzi Management bought the 44-unit apartment community from Taymil LT LLC.
The apartment community was built in the 1920s and consists of twelve attached three/four story buildings in a horseshoe layout. It is steps from Commonwealth Avenue with access to the MBTA Green Line.
Lorraine Terrace offers residents on-site laundry facilities, a controlled access buzzer entry system and a central landscaped courtyard. Units feature hardwood flooring, fully applianced modern kitchens with oak cabinets, laminate counters, ceramic tile flooring, gas range and dishwasher, as well as updated baths with vanity and sconce lighting. Select units feature brick accent walls and balconies. Rents were not disclosed.
CB Richard Ellis/N.E. Partners represented the seller, Taymil LT LLC, and procured the buyer.