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 Cambridge condo conversion play - investor was buying a 6-unit building near Inman Square at $2.4M to convert and sell as individual units. Permits already in hand from the prior owner.
An Atlanta investor acquired a 10-unit apartment building in Midtown for $2,200,000 - aging but structurally sound, rents averaging $1,100 vs market of $1,450. Classic Midtown value-add.
A Boston-area investor was purchasing a single-family in Brookline - $925,000 purchase, tenant already in place paying $5,800/month on a two-year lease. Zero renovation needed.
