163 CHESTNUT STREET FOR SALE CHELSEA, MA

29,185 SF SITE AVAILABLE FOR SALE LOCATED IN CLOSE PROXIMITY TO DOWNTOWN BOSTON LOCATION, LOCATION, LOCATION

Just four miles north of Boston, sits the City of Chelsea. Chelsea, which has seen a rush of growth from an influx of residents and employers in recent years, is home to 40,000 residents and boasts an average household income of $77,000. Chelsea’s close proximity to Boston, robust area amenities, access to public transportation and highway access, combine to make Chelsea the area’s next up-and-coming neighborhood. Chelsea also benefits from a portfolio of nearby large employers - such as Encore Boston Harbor, Federal Bureau of Investigation (FBI), Massachusetts Information Technology (MIT) Center, Partners Healthcare, and Massachusetts General Hospital (MGH).

While the healthy job gains in the tech and life sciences industries have been key contributors to metro wide job gains, Chelsea and neighboring town, Everett, are seeing high employment growth within their submarkets:

The FBI relocated its regional office into a new 268,000 SF office in Chelsea in 2016. Two and a half miles away, The Encore Boston Harbor Resort & Casino in Everett was cited as one of the largest construction projects in the nation, valued at $2.6 billion; The five-star waterfront resort offers a world-class casino, 15 restaurants, bars and nightlife scene, supporting over 5,500 new full-time jobs since its completion in 2019. Furthermore, Assembly Row in Somerville continues to expand its mixed-use retail, residential, and office complex, anchored by Partners Healthcare.

The City of Chelsea has also seen significant commercial development and public transportation investment: The recently completed Silver Line 3 Chelsea (SL3) provides expedient proximity into hubs at Logan Airport and South Station, connecting residents and employees to the MBTA Blue and Red Lines. Chelsea Station is the only stop in Greater Boston to enjoy both South Station (Silver Line) and North Station (Commuter Rail) connectivity which affords ownership and management unparalleled access to employers in the Seaport, Downtown and North Station submarkets resulting in durable occupancy and steady demand.

Highly frequented nearby commuter and distributor routes include Routes 107, 16, and 1 – with the latter being a major north-south connection and provides access to I-93 and I-95 (which in turn provide direct access to the coastal areas north and south of Boston). I-90/Massachusetts Turnpike is a major east-west turnpike providing access from Boston into the MetroWest region and to the State of New York. Chelsea is adjacent to the Boston Harbor and only three miles from Logan International Airport.

Chelsea’s tree-lined streets, glorious views of Boston’s nearby skyline, excellent schools, parks, a burgeoning dining and brewery scene, and a bustling, friendly downtown coupled with its superior access to public transportation and major highways, makes it appealing to young families and professionals working in both downtown Boston and various suburban communities.

TRAVEL North Station Logan Airport Seaport Assembly Square Kendall Square TYPE*

28 Minutes 19 Minutes 35 Minutes 20 Minutes 28 Minutes

11 Minutes 10 Minutes 12 Minutes 12 Minutes 12 Minutes

TRAVEL TIMES 23 Minutes 30 Minutes 24 Minutes 29 Minutes 42 Minutes

12 Minutes — — — 49 Minutes1

*Times are approximate estimates 1 Includes switch to MBTA Red Line EXECUTIVE SUMMARY Colliers International is pleased to offer 163 Chestnut Street for sale in the heart of chelsea, one of the City’s most dynamic neighborhoods. This 29,185 square-foot site is located on the edge of downtown and is just steps from public transportation and numerous restaurants and retail amenities. Access to the Tobin Bridge is just blocks away.

163 Chestnut Street provides 0.67 acres (29,185 SF) and consists of the former St. Stanislaus Church, rectory and adjacent parking lot. The property is being offered as-is/where-is and presents an ideal opportunity for users and redevelopers with its R2 Zoning (See table for allowable uses)

> Multifamily housing of 4-11 units > Small scale care facilities > Paper Goods Store > Dwelling above ground floor retail > Agriculture > Restaurant > Outdoor Café and Dining > Non-exempt education > Professional Offices > Short Term Rentals > Private lodge or club > Bank > Religious and Educational facilities > Bakery > Theater *Other commercial uses may be granted by special permit at the city’s discretion

Under the current R2 Zoning, the requirements for residential development are as follows: Under the proposed zoning, the minimum requirements for apartments would be: Minimum lot size 10,500 sq ft Minimum lot size 10,500 sq ft Minimum lot size/unit 3,000 sq ft/unit Minimum lot size/unit 3,500 for the first unit, 1,000 sq ft for each additional unit

Our Assessors Records show the site to be 29,185 square feet in size. Dividing the 29,185 by 3.000 results in 9 units,. So, 29,185 would yield about approximately 26 units: 29,184 - 3,500 = 25,685 1 unit 25,685/1.000 = 25 25 units 26 units

**This assumes that you can meet all of the other dimensional regulations (height, yard setbacks, lot coverage, usable open space), and off-street parking. DRIVE TIMES 6 Minute Drive DOWNTOWN Logan Airport BOSTON 7 Minute Drive NORTH STATION Boston

EAST TOBIN BRIDGE CHARLESTOWN BOSTON

1 163 CHESTNUT ST

Spruce Street Massachusetts Information Technology Center

CHELSEA STATION/ FBI Building BELLINGHAM SQUARE 5-min walk

CONTACT US JAMES ELCOCK TIMOTHY O’BRIEN 617 330 8020 617 330 8117 (m) 617 538 0718 (m) 617 861 7274 [email protected] [email protected]

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