Cambridge, MA — In a rare transaction in the heart of Harvard Square, Marcus & Millichap announced the $6.65 million sale of Ellery Apartments, a 14-unit multifamily property located at 84-86 Ellery Street in Cambridge, MA. This marks the first time the property has changed hands in over four decades.
Built in 1880, the historic three-story brick building features a mix of 10 one-bedroom units and four studios, spanning a total of 12,574 square feet on a 0.25-acre lot. The property also includes nine coveted off-street parking spaces—an uncommon amenity in the dense and highly walkable Harvard Square neighborhood.
“This trophy asset sold for the first time in over 40 years and represents a rare investment opportunity in one of Cambridge’s most prestigious neighborhoods,” said Evan Griffith, Senior Managing Director of Investments at Marcus & Millichap. “We continue to see strong investor demand in prime locations with high barriers to entry.”
Griffith and fellow Senior Managing Director Tony Pepdjonovic represented the seller, a private family, and secured the buyer. According to Pepdjonovic, the new owner plans to capitalize on recent zoning changes in Cambridge by expanding the structure and converting the site into 20 high-end condominiums.
“We’re excited to watch the transformation of this building and parcel,” said Pepdjonovic. “This is a perfect example of smart reinvestment in a core location.”
Ellery Apartments is ideally located within walking distance of Harvard University, the Harvard MBTA Red Line station, and a vibrant mix of restaurants, shops, and cultural institutions. The sale highlights ongoing investor interest in centrally located properties that offer both long-term potential and redevelopment opportunities.
The transaction reflects both the enduring appeal of Cambridge real estate and the shifting development landscape as zoning reforms open the door to more intensive residential uses in historically low-density neighborhoods.
