$17.2 Million for 40 Berkley St. Hotel

40 Berkley was designed to be a YWCA hostel but was later turned into a hotel. The hotel has been popular with young student travelers as it is among the cheapest places to stay in Boston that offers good services including free wifi and breakfast.
The building has a total area of 80,000 square feet with a 4,200 square feet open green space. The seven story hotel also boasts of expansive common areas and a full kitchen among other facilities.
This property was recently acquired by local Mount Vernon Co. for $17.2 million. Cornerstone Realty Capital arranged the financing for the acquisition. Mount Vernon Company has been repeatedly voted as the best landlord in Boston and hosts a lot of properties for rent all over Boston. They maintain a high standard in their properties and only rent properties they fully own to ensure the same standard of quality in all their properties.
Mount Vernon Company is also famous for its pioneering Green District project which is the first of its kind in the whole country. Located in the Allston neighborhood of Boston, the Green District project will include 6 different buildings, all designed in an eco friendly way to provide adequate residences to single individuals and small families.
The impressive history of Mount Vernon Co. and the prime location of 40 Berkley makes for an exciting future for this property. We’ll have to wait and see as to what the company plans for this property, but whatever they do you can be sure that it will be special.