Selling a Development Opportunity in Harvard Square

If you own a property on a large lot close to Harvard Square, particularly a property with at least 5,000 sq ft you may have a prime development opportunity on your hands. You may be asking, how much more can I sell my property for if I sell it as a development opportunity as opposed to as multi-family buy and hold opportunity?

The answer is it can be a HUGE difference? As an example, in 2025 I sold a 3-family located at 60-62 Line St in Somerville. Based on our analysis, the property appeared to be worth about $1.6M at the time of listing as a straight 3-family buy and hold sale.

But we noticed the lot was quite large and ultimately we were able to sell the development upside to a builder, who ended up purchasing the property for $2.45M, that’s right - we sold the development for over 50% more than it would have sold for as a straightforward 3-family sale.

So if you think you may have a development opportunity on your hands, give me a call so we can begin to understand the potential upside! My cell is 617-833-7457.