- Strategy Repositioning/Development
- Role Sponsor
- Location Brookline, MA
- Acquisition Year 2020
In June of 2020, Odessit Capital purchased a historic two-family on the edge of Aspinwall Hill in close proximity to Beacon Street. The operating plan called for both the preservation of the existing structure along with a by-right subdivision. The ownership team collaborated with the Preservation Department in Brookline to lift the property from its existing orientation, turn it, and move it onto the subdivided portion of the lot. The property was relocated in September 2022, and the subdivided portion was sold two months later. Construction of the ground-up two-unit condo on the remaining parcel was completed in the Fall of 2024, and the two condo sales closed in January and April of 2025, respectively. While market conditions changed dramatically from the onset of the project to the final sellout, conservative deal analysis on the front end combined with a high quality product ensured that this project remained profitable for all of our investors.
