Buying a Development Opportunity in Central Square

Central Square is often a great place to target for development opportunities. This is driven in large part by the high condo sales prices. There are often opportunities to condoize 2 and 3-family properties around Central Square and bring in excellent returns with quick sales. 

The tricky part when it comes to development opportunities in Central Square is this is one of the most competitive neighborhoods in all of Cambridge and really all of Massachusetts. You aren’t the only one looking here and most of these properties end up going very quickly at extremely high prices. In my experience, most multi-families that do sell in Central Square end up landing for around $2M or higher. This means for the numbers to work you typically need to see substantial square footage in the properties or a large lot. 

If you are thinking about a development opportunity in Central Square but don’t know what the re-sale value might look like, give me a ring and we can talk! My cell is 617-833-7457.