Harvard Square Building

**esp1986** · August-10-11, 09:49 PM

Originally Posted by rjlj

I sure hope not.

I hope not too. He has no intention of renovating anything he buys in the immediate future. This is a perfect building for a low budget loft rehab. With rents rising, more of these projects are becoming viable, yet we continue to see 'speculators' like Kefallinos buying properties and sitting on them. With the Madison buildout underway, buildings in this area are looking more attractive.

agrahlma · August-11-11, 07:45 AM

Originally Posted by esp1986

I hope not too. He has no intention of renovating anything he buys in the immediate future. This is a perfect building for a low budget loft rehab. With rents rising, more of these projects are becoming viable, yet we continue to see 'speculators' like Kefallinos buying properties and sitting on them. With the Madison buildout underway, buildings in this area are looking more attractive.

Yeah I was a little disappointed to hear that he [[may have) purchased the building. I just don’t think he will do anything with it. The asking price was somewhere in the range of 750k - 850k. However I saw an old report [[2002) that estimates that the total major improvements needed toupgrade the building for new use was somewhere on the order of $4 to $5 million.

Agree - this building would be a prime place for a younger, post college type crowd.