The sale represents a lightning quick turnaround for the property, as Core picked up the building in April for $3.7 million and completed the sale on Dec. 30. After tenant Advanced Electronics vacated the building at the end of its lease, Core gutted the building, began the conversion process, then flipped it to CSR. CSR is making the purchase just as the city's office-to-residential conversion market is heating up.

"We did some rehab work to reposition the building, but the timing was right to move the it," David Pogorelc, principal at Core Investments, tells GlobeSt.com. "I think they're going to do well with it."

Although Core is making an apparent killing on the building, even taking rehab expenses into account, Christopher T. Griffin, senior director at Cushman & Wakefield and part of the team that brokered the deal, thinks both sides made out well. "The deal is a win-win for both groups. The seller achieved superb pricing, while the buyer has acquired exceptional vacant loft space just steps from the Financial District."

The five-story, 37,500-sf, brick and beam building is located near the entrances of the Mass Turnpike and Interstate 93. The lofts feature full-length windows, 10- to 13-foot ceiling heights, interiors with exposed brick and beam, elevator access, rooftop views and surface and subsurface parking. Exact plans for the conversion are unknown, as James P. Robertson, principal at CSR, declined to be interviewed by GlobeSt.com.

Robert E. Griffin, Marci Griffith Loeber, Griffin and Brian Doherty of Cushman & Wakefield's Capital Markets group exclusively represented the seller and procured the buyer, CSR LLC, in the transaction.