NASHUA, NH – Manchester-based Brady Sullivan Properties sold one of Downtown Nashua’s most recognized landmark properties in May. Commonly referred to as the Indian Head Bank building, 146-150 Main Street consists of over 18,000 SF and features period architecture, vaulted ceilings, and oversized windows, as well as a dedicated parking lot on site. Vacant at the time of the sale, the buyers – Massachusetts-based developers Giancarlo Tiberi and Greg Donovan of Core Development – intend to capitalize on the opportunities ahead in Downtown Nashua.
“This is a long-term buy and hold for us,” explained Tiberi. “We love the architectural details of the property and feel like these residences will be a great addition to Main Street.”
Giancarlo and his team have master-planned a residential conversion of the office property, calling for 22 apartments over the three stories. “There will be a mix of studios, one-bed lofts/flats, and two-bedroom units,” he continued. “All units will have luxury finishes with washer/dryer in unit, central AC, designer bathrooms and kitchens with stainless steel appliances and quartz counters.”
Having recently redeveloped another property in Nashua, Core Development was eagerly seeking another acquisition. The size of 146 Main Street was attractive, as well as the proximity to the group’s other properties, the latter of which presented the critical mass within the same area. “Downtown Nashua is becoming more and more vibrant.”