(To read more on the multifamily market, click here.)

BROOKLINE, MA-A local developer has acquired a 66-unit turn-of-the-century apartment building on Beacon Street for $17.7 million. The seller was the Nordblom Co of Burlington.

Jeffrey Feuerman, owner of Brookline Development, tells GlobeSt.com that he faced “stiff competition” for the nine-story brick exterior property, known as the Warwick, at 1450-1454 Beacon St. The area is a mix of residential and retail outlets with a student population set on the MBTA’s Green Line.

Jonathan Close, with Apartment Realty Advisors of Burlington, says the property’s location made it an appealing choice for potential buyers. Close negotiated the transaction for Nordblom.

“It’s a beautiful old world building with charm and character throughout,” Close says. “It has a great location on Beacon Street across from the T stop and is down the street from Coolidge Corner. And it’s in Brookline, which in itself is a very strong selling point in the market.”

The building, constructed in the early 1920s, features a brick and limestone exterior, high ceilings, period moldings, a landscape courtyard and recent renovations to the roof, fire systems and windows. Feuerman says he expects to begin installing new kitchens in four of the vacant units soon with the first condominiums available for sale in January at prices ranging from $350,000 for a one-bedroom unit to $450,000 for a two-bedroom condo. The remaining units, which are designed to appeal to first-time buyers, will be converted next year, Feuerman says.

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