
Out of the Box, Luxury Living in Somerville
The Offering
Berkadia has been exclusively retained to sell Union 346, a newly constructed, 153 unit, core apartment community in the vibrant Union Square neighborhood of Somerville, Massachusetts. This premier residential community is transit-oriented, offering convenient access to key employment hubs in Boston’s urban core, as well as renowned universities like Harvard, MIT, and Tufts.
Comprising two buildings delivered in phases, Phase I includes 94 residential units and 1,968 square feet of occupied commercial space, delivered in late May 2023. Phase II consists of 59 residential units, delivered in mid-September 2024. The development features a diverse mix of studio, one-bedroom, two-bedroom, and three-bedroom apartments, with 29 of the units (19%) designated as affordable, catering to income levels from 50% to 110% of the Area Median Income (AMI).
Each residence is thoughtfully designed with modern comforts, featuring in-unit washers and dryers and keyless entry. Interiors boast nine-foot ceilings, luxury vinyl flooring, quartz countertops, stainless steel appliances, oversized windows, high-efficiency plumbing fixtures, Juliette balconies in select units, and trash valet service. The community offers an impressive array of amenities designed to enhance the resident experience. These include a state-of-the-art fitness center, a rooftop deck with breathtaking views of the Boston skyline, and an on-site green park. Butterfly MX access control, smart package room, business center with work-from-home stations, community room, BBQ picnic area with grills, pet grooming station, and garage parking to provide convenience and comfort.
Union 346 is well positioned to capitalize on the high demand for quality housing in Somerville, known for its cultural vibrancy and proximity to major educational and employment hubs. The property’s strategic location and comprehensive amenity offerings make it an attractive option for residents and investors seeking stable returns and growth potential.

- Property Name
- Address
- City, State, Zip Code
- Units
- Built
Property
Snapshot
153
Units
19%
Affordable
LEED Gold/LEED Platinum & Passive House
Phase I/Phase II
2023-2024
Year Built: Phase I / Phase II
93%
Occupancy
$2,844 / $5.86 SF*
In-Place Rent / ($/SF)
*Market-Rate Units
INVESTMENT HIGHLIGHTS

High-Quality Urban Core Community
Experience premier city living at Union 346, a LEED-certified community with Phase I achieving LEED Gold and Phase II earning Passive House and LEED Platinum certifications. Enjoy upscale in-unit features like quartz countertops, stainless steel appliances, and in-unit laundry. Community amenities include a fitness center, a rooftop deck in each building with skyline views of Boston, a green park, smart package room, business center, BBQ area, pet grooming station, and garage parking. Designed for modern comfort and convenience.
Seamless City Connectivity
Union 346 boasts a prime transit-oriented location, less than a 10-minute walk from the MBTA Union Square Station. This provides convenient access via the MBTA Green Line Extension to key destinations: Boston’s North Station (20 minutes), Downtown (27 minutes), Back Bay (33 minutes), the Longwood Medical Area (48 minutes), and Tufts University (21 minutes). Additionally, two nearby bus stops provide quick connections to Harvard (16 minutes), Kendall Square (20 minutes), and MIT (26 minutes).
Live, Work & Unwind
Union 346 is ideally situated in Somerville’s Union Square, offering easy access to diverse lifestyle, entertainment, and recreational amenities. Somerville was ranked No. 3 Best Suburb for Young Professionals in America (Niche, 2025), and Union Square made Time Out’s 2024 list of coolest neighborhoods. Known for its vibrant dining and bar scene, unique festivals, and strong local pride, the area is set to expand with the upcoming USQ mixed-use development, adding 3.8 million square feet, including over 150,000 square feet of new restaurants and shops, plus 4.7 acres of open spaces.
High Barriers, Strong Demand
Somerville’s strict regulations and affordable housing requirements are limiting new multifamily development, with only 156 new units projected through 2026. The city is nearing its 10% affordable housing inventory, which will further slow approvals and reduce future supply. With nearly 900 units delivered since 2023 — including landmark projects like Prospect Union Square, Arris, and Union 346 — availability is rapidly tightening. Union 346 stands out as a prime option for renters amid rising demand and constrained new supply in Somerville.
Unmatched Monthly Savings for Renters
Union 346 offers substantial savings compared to condo ownership in Somerville and rentals in nearby neighborhoods within Boston’s Urban Core. Renters can save up to $2,548 monthly compared to owning a condo, excluding the cost of a down payment, and up to 59% compared to other rental options, making high-quality, transit-accessible living more attainable. This rent-versus-own advantage is fueling strong demand, establishing Union 346 as a compelling value proposition.
Surrounded by Top Meds, Eds and Biotech
Union 346 is strategically located in Boston’s “Brainpower Triangle,” anchored by MIT, Harvard, and Tufts University. It’s also near leading hospitals including Massachusetts General, Boston Children’s, and Brigham Women’s, as well as Kendall Square, the global life-science hub. The area attracts top talent from these institutions, with thousands of graduates and medical professionals driving demand for luxury rentals. Union 346 is poised to benefit from this highly educated, well-compensated workforce as the demand for premier urban living grows.
Photo Gallery
Contact
US
Boston Office
125 High Street, Suite 1712
Boston, MA 02110
INVESTMENT SALES
Adam Dunn
617.648.4192
[email protected]
MA RE Broker Lic #9553106
Chris Phaneuf
617.648.4191
[email protected]
MA Principal Broker Lic #9032841
Adam Marzilli
617.648.4181
[email protected]
MA Salesperson Lic #9586683
Mortgage Banking
Jackie Meagher
781.990.0159
[email protected]

Out of the Box, Luxury Living in Somerville
Berkadia®, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is an industry leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties. Berkadia® is amongst the largest, highest rated and most respected primary, master and special servicers in the industry. This advertisement is not intended to solicit commercial mortgage company business in Nevada.
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