Charlesbank Gardens Lists for $95M

by Chris Wangler

October 13, 2022

Last week, 206 units in a sprawling family-owned apartment complex near Brandeis were listed for nearly $100 million. Meanwhile, bids are coming due for an adjacent high-ticket property.

The Charlesbank Garden Apartments, first built in the mid-1960s, are spread out across 13 buildings on 9.85 acres. They were listed on October 6 for $95 million.

“We’ve been buried with interest,” said Jeremy Cyrier, president of Andover-based Mansard Commercial Properties. 

He said “high net-worth individuals” and institutions are among those who have inquired after the property.

Mansard is responsible only for Charlesbank Gardens, while another commercial real estate broker, Cushman & Wakefield, is handling the abutting Charlesbank Estates listing. 

There is no price for the Charlesbank Estates, which involves 218 units on 10 acres, built between 1960 and 1987. Bids from interested parties are due by October 13.

Both listings aired the possibility of renovating existing one- and two-bedroom units, which are 100% market-rate, to bring them in line with current prices.

Charlesbank Gardens and Charlesbank Estates offer access to a beautiful section of the Charles River, as well as proximity to Moody Street and Mass Pike / 128. 

 

Antico Legacy 

The Charlesbank properties were developed by the Anticos, a prominent Waltham family which evolved from immigrant laborers into successful landowners during the 20th century.

Patriarch Antonio Antico bought property in the Roberts area of Waltham and dug a gravel pit that came to serve most of the Boston area. 

 

With sons Louis J. and “Junie,” the Anticos developed Charlesbank Estates and Charlesbank Garden Apartments as the need for suburban housing near Boston exploded in the 1960s.

Louis J. Antico ran Charlesbank Gardens for decades before he passed away in 2020 in Florida.

“His personal interest in tenant satisfaction is reflected in superb maintenance, attention to detail and of quality service,” said the company website. 

 

While the brick buildings reveal their age, the grounds remain immaculately landscaped, with green lawns and carefully pruned evergreens.

As similar Waltham housing developments (GardenCrest) have come under corporate control, Charlesbank has remained family-owned and operated. “It’s an amazing story,” said Charlesbank Gardens broker Cyrier.

No one in the company’s office would comment on the listings Wednesday.