Navy Yard Condominiums, Charlestown, MA
In 2013, DLJ RECP and Kavanagh Advisory Group secured the long-term leasehold interest in a site in the Boston Navy Yard. DLJ RECP and KAG are completing a 48,000-square foot residential building containing 54 for-sale units. Boston has experienced significant price increases as the market inventory has decreased to historically low levels. The Navy Yard neighborhood offers over 1,200 residences, 1.5 million square feet of office and medical uses, three marinas, two hotels, and 10 acres of waterfront open space. The site is within walking distance of downtown Boston and benefits from public transit with connections to the North End, Financial District, and Government Center.
Photo: Navy Yard Condominiums, Charlestown (DLJ RECP Fund V)