Tuesday, October 1, 2013, 12:01pm
Micozzi Management, which owns and manages apartments across Greater Boston, has paid $7 million for a multifamily property in Newton, about $280,000 per unit.
The three-story brick building at 40-46 Park St. contains 25 units. The apartment mix consists of three studios, 11 one-bedrooms and 11 two-bedroom apartments.
Boston Realty Advisors brokered the deal.
“Newton is a great submarket for multifamily. The market is supply constrained and Newton’s close proximity to Boston makes it extremely desirable,” Jason Weissman, principal and founder of Boston Realty Advisors, said in a statement.