An experienced Boston investor acquired a historic Back Bay brownstone for $1,200,000 - in the same family for 40 years, untouched since the 1980s. Structure was sound, interior needed a complete overhaul.
LOAN AMOUNT
$1,620,000
$500K renovation required coordination with Boston's historic preservation guidelines. Investor needed high-leverage financing to preserve working capital for the contractors.
Adler Capital structured $1,620,000 - 90% LTV - covering purchase and 100% of rehab. Fast close in 10 days prevented a competing offer from winning.
The Outcome
Finished brownstone sold for $2,350,000 - a record for the block. Exposed brick, original moldings, chef's kitchen, spa primary suite. Net profit: $500,000+.
Deal Highlights
LOAN AMOUNT
$1,620,000
PURCHASE PRICE
$1,200,000
RENOVATION BUDGET
$500,000
FINANCING
90% LTV
SALE PRICE
$2,350,000
PROJECT DURATION
14 Months
More Deals
See how Adler Capital has structured financing across property types, markets, and deal sizes.
A Miami investor found a 6-unit walk-up in North Miami - newer roofs, partially updated units, $10,200/month gross rent. Purchase: $980,000. The cap rate was 6.1% and the area was rapidly gentrifying.
A Coral Gables Mediterranean-style home - 4/3, original 1970s kitchen and baths, popcorn ceilings throughout. Purchase: $695,000. Updated homes in the same streets were trading at $1.1M+.
A high-net-worth investor found a tenant-ready 4/3 in West Boca - $625,000 purchase, existing tenant paying $5,200/month on a renewable lease. Zero work needed, just close and collect.
