122 CHESTNUT ST & 15 TAYLOR ST | SPRINGFIELD, MA
PORTFOLIO OVERVIEW
The Portfolio offers a significant critical mass portfolio in close proximity, totaling 394 units, allowing an operator to efficiently manage and staff the properties.
EMPLOYMENT DRIVERS
Pioneer Valley in Western Massachusetts is the largest concentration of retail, manufacturing, entertainment, banking, legal and medical groups in the area. Springfield and surrounding towns are home to some of the largest employers in the state including MassMutual, Smith & Wesson, Merriam Webster, the American Hockey League, Baystate Health, Big Y, Breck Shampoo, Hampden Bank, and Health New England. Residents of Springfield greatly benefit from the jobs created by these local employers.
METRO CENTER SPRINGFIELD
- 95 WALK SCORE
- 65 TRANSIT SCORE
- 68 BIKE SCORE
AVERAGE COMMUTE TIME - 23.3 MIN
- 95 WALK SCORE
- 65 TRANSIT SCORE
- 68 BIKE SCORE
AVERAGE COMMUTE TIME - 23.3 MIN
RECENTLY RENOVATED BUILDINGS
Current ownership has invested significant capital into the properties and have greatly improved the interiors and exteriors of the buildings as well as the mechanical systems. Silverbrick Square has a variety of new amenities including a private courtyard, resident’s lounge, and fitness center. At Silverbrick Lofts, there is a clubhouse with free Wi-Fi, a 24-hour fitness center and outdoor space with BBQs. The units feature architectural details such as exposed brick, reclaimed wood beams, arched windows, and high ceilings.
ATTRACTIVE ASSUMABLE DEBT + PREF | |
Existing Debt | $36,146,302 @ 4.35% |
Pref Offered | $18,453,698 @ 6.5% IO |
Total Debt Offered | $54,500,000 |
Blended Rate | 5.08% |
Maturity | Mid 2027 & 2029 |
LTV (High Range) | 70% |
Amortization | 30 Years |
122 CHESTNUT ST | SPRINGFIELD, MA
SILVERBRICK SQUARE
UNITS
114
TOTAL SF
±94,479
UPSIDE
26.57%
UNIT TYPE | # OF UNITS | AVG SF | % UPSIDE |
Studio/1 Bath | 18 | 580 | 14% |
1 Bed/1 Bath | 40 | 820 | 15% |
2 Bed/1 Bath | 51 | 888 | 38% |
2 Bed/2 Bath | 4 | 1,116 | 15% |
3 Bed/2 Bath | 1 | 705 | 40% |
TOTAL/AVGS | 114 | 822 | 27% |
THE OPPORTUNITY
- SilverBrick Square, a luxury apartment building located in the heart of Downtown Springfield near shopping, dining, entertainment, and transportation. SilverBrick Square has a variety of floor plans to suit the needs of most. Options include townhomes, lofts and duplexes. Enjoy a brand new state-of-the-art fitness center, club lounge, and courtyard all on site!
UNIT AMENITIES
- Newly Renovated
- High Ceilings
- Variety of Floor Plans
BUILDING AMENITIES
- Courtyard
- Resident’s Lounge
- Elevator
- Fitness Center
15 TAYLOR ST | SPRINGFIELD, MA
SILVERBRICK LOFTS
UNITS
280
TOTAL SF
±222,664
UPSIDE
18.13%
UNIT TYPE | # OF UNITS | AVG SF | % UPSIDE |
Studio/1 Bath | 13 | 671 | 9% |
1 Bed/1 Bath | 181 | 1,334 | 15% |
1 Bed/1.5 Bath | 28 | 752 | 13% |
2 Bed/1 Bath | 41 | 810 | 33% |
2 Bed/1.5 Bath | 2 | 965 | 35% |
3 Bed/1 Bath | 1 | 1,116 | 15% |
Commercial | 14 | 1,180 | 22% |
TOTAL/AVGS | 280 | 1,156 | 18% |
THE OPPORTUNITY
- The premier luxury rental property in the heart of Springfield’s downtown business and entertainment district.
Live, work, and play in a vibrant community of artists, students, and young professionals. We are just a short walk from dining, shopping, museums, and transportation. SilverBrick Lofts has extraordinary architectural detail such as exposed bricks, reclaimed wood beams, arched windows and high ceilings. Enjoy a state-of-the-art fitness center, residents lounge with free Wi-Fi, outdoor space with BBQ and covered parking.
UNIT AMENITIES
- Newly Renovated
- Hardwood Floors
- Stainless Steel
- Appliances
BUILDING AMENITIES
- Landscaped Grounds
- Electronically Secured Entrances
- Clubhouse w. Free WiFi
- 24 HR Fitness Center
- Covered Parking Available
- Rental Office
- Package Service
- 24 HR Emergency Maintenance
- 24 HR Laundry Facilities
15 TAYLOR ST | SPRINGFIELD, MA
AREA OVERVIEW
EXCLUSIVELY LISTED BY:
DAVID FERBER, CPA
Associate VP & Director
DIR +1 (551) 888-0042
MOB +1 (201) 218-9156
License No. 110401336343 (NY)
BROKER OF RECORD
Kyle Matthews
License No. 1000083-RE-RB (MA)