54-66 Washburn Avenue

Investment Overview

Newmark has been exclusively engaged to sell the fee simple interest in 54–66 Washburn Avenue , a vacant two-story, ±9,898 square foot office building on a ±14,670 square foot parcel in North Cambridge, together with an adjacent ±3,485 square foot parking parcel in Somerville. The building will be delivered free and clear of tenancy, allowing a purchaser to underwrite the site on its residential merits alone. Cambridge's Multifamily Housing Ordinance, adopted in February 2025, permits multifamily housing as of right in the Business B district —removing the special permit risk that has historically governed development sites of this scale and placing the property squarely in the path of the city's housing production effort. Two potential residential paths are presented herein: a nine-unit fee-simple townhome community, conceptualized in this memorandum, and a by-right multifamily rental building of approximately thirty-eight homes. The seller will entertain offers subject to approvals , allowing a purchaser to advance design and permitting before closing.