Word: casselle
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“Condos drive the real estate market,” Cassell says. “The building does need work. How do you get that work? Condo-ization would help pay for rehab.”
As manager, co-owner, and president of The Garment District, Inc., Christopher Cassell admits that the building, parts of which date back to 1891, is in dire need of rehabilitation.
The 200 Broadway St. property was assessed in 2005 at a total value of $1,901,500—of which the 14,896-square-foot lot accounted for nearly all, at $1,836,200. The City of Cambridge lists the property as having a living space of 35,502...
Cassell and Halperin are developing plans to renovate or replace the building, and Cassell said the tentative plan is for condos upstairs with retail space on the first floor.
Cassell and Halperin bought the property for $3.4 million on May 5. The business is co-owned by Cassell and partner Brooke Fletcher.