- Property type: Mixed-Use
- City: Lynn
- Zip Code: 01901
- Neighborhood: Lynn
- Street: Exchange Street
This magnificent Historical Sandstone building was purchased at auction, $900,000, which represents excellent value, significantly below market building costs. The Building is structurally sound, built in 1918 it is in excellent condition, size 34,735 sq ft.
Our strategy is to add significant value by converting part of this commercial property into 31 modern, well designed condos, top floors will have magnificent ocean views. Alternatively, evaluate options to convert this historical building into a boutique hotel.
There is high demand for this product and the location is very desirable, in particular the millennial market.
Just a two-minute walk to the Commuter Rail, a 20-minute train ride to Boston, this new vogue neighborhood offers ease of access to Boston for commuters.
Downtown Lynn has many neighborhood perks such as award-winning restaurants, cafes, community gardens & farmer’s market, a concert venue and an ever-growing arts & cultural district. Downtown Lynn is gentrifying and values are rising, it is currently a sellers market.
Our architect is innovative and we have many grand ideas on the drawing board at the moment, from the condo conversion to transforming the ground floor into a bustling trendy market with café shops and exotic food stalls. There is also a unique option of utilizing the 15 car bays at the rear and building a boutique hotel.
This is a work in progress and we expect this project to commence in the next 12 months.
For more details please visit www.lynnlandmark.com
- ID: 2613
- Published: 2018-01-20 17:04:43
- Last Update: 2018-01-20 17:04:43
- Views: 1659