Marcus & Millichap Inc.
04/27/2026 | Press release | Archived content
Marcus & Millichap Arranges $8.675 Million Sale of the Roosevelt Apartments in New Bedford
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Marcus & Millichap Arranges $8.675 Million Sale of the Roosevelt Apartments in New Bedford
April 27, 2026
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BOSTON, April 27, 2026 - Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Roosevelt Apartments, a 73-unit apartment building in downtown New Bedford's historic district. The asset traded for $8,675,000.
"The Roosevelt Apartments has a rich history in New Bedford, and we were excited to assist the sellers with this unique assignment. The winning bidder was drawn to the property because of its location in the coveted Historic Waterfront District, which continues to undergo significant revitalization, and they are excited to do their part through building improvements," said Tony Pepdjonovic, senior managing director. "This 73-unit asset presented a compelling value-add opportunity of scale that attracted investment capital from Boston, Rhode Island, and Connecticut, many of which have no holdings in the New Bedford area," said Evan Griffith, senior managing director.
Griffith and Pepdjonovic of Marcus & Millichap exclusively marketed the property on behalf of the seller, a family office based in New Jersey, and procured the buyer.
The Roosevelt is a six-story brick apartment building built in 1924 that sits on a 0.66-acre lot and includes 26 off-street parking spaces. The unit mix consists of studio, one- and two-bedroom apartments.
The property is located at 415 County Street just one mile from the recently opened New Bedford commuter rail station with direct connection to Boston. Other nearby amenities include the Whaling Museum, New Bedford Ferry, UMass Dartmouth, and an array of dining, shopping, and entertainment options.
"The Roosevelt Apartments has a rich history in New Bedford, and we were excited to assist the sellers with this unique assignment. The winning bidder was drawn to the property because of its location in the coveted Historic Waterfront District, which continues to undergo significant revitalization, and they are excited to do their part through building improvements," said Tony Pepdjonovic, senior managing director. "This 73-unit asset presented a compelling value-add opportunity of scale that attracted investment capital from Boston, Rhode Island, and Connecticut, many of which have no holdings in the New Bedford area," said Evan Griffith, senior managing director.
Griffith and Pepdjonovic of Marcus & Millichap exclusively marketed the property on behalf of the seller, a family office based in New Jersey, and procured the buyer.
The Roosevelt is a six-story brick apartment building built in 1924 that sits on a 0.66-acre lot and includes 26 off-street parking spaces. The unit mix consists of studio, one- and two-bedroom apartments.
The property is located at 415 County Street just one mile from the recently opened New Bedford commuter rail station with direct connection to Boston. Other nearby amenities include the Whaling Museum, New Bedford Ferry, UMass Dartmouth, and an array of dining, shopping, and entertainment options.
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About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2025, the company had 1,808 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 8,818 transactions in 2025, with a sales volume of approximately $50.9 billion. For additional information, please visit https://www.MarcusMillichap.com.
Marcus & Millichap Inc. published this content on April 27, 2026, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on April 30, 2026 at 23:19 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]