Special to the Transcript
The Procopio Companies (Procopio), a fourth-generation, full- service real estate development and construction management firm, announced that The Somerset, the firm’s newest mixed-use development in Winthrop, has already reached 80-percent occupancy since its opening in September 2022.
The boutique multifamily development, located at 10 Somerset Avenue, is a 22,000SF, zero lot-line, mixed-use property that brings 29 residentials units and 1,119SF of ground-level retail space to downtown Winthrop. It offers studios and one- and two-bedroom units ranging from 500-1300 square feet.
“The success of The Somerset is a testament to Greater Boston’s continued appetite for multifamily development close to the city,” stated Bryan Vitale, SVP of Strategy & Investments. “The property’s desirability and location in downtown Winthrop demonstrates the continued desire from residents to enjoy the conveniences of city amenities, with the benefits of a suburban location and lifestyle.”
Procopio developed Somerset in concert with Khalsa Design (architect of record), North Shore Bank (lender), and a syndication (equity source). The Somerset was designed for residents who want to live in one of Boston’s most desirable beach communities with convenient access to both the Atlantic Ocean and downtown Boston. The building is now professionally managed by Charlesgate.