'Infamous Landlord' Buys Multifamily Buildings In Boston, Newton
An entity linked to Alpha Management Corp. has acquired two multifamily properties — one in Boston, one just outside — for nearly $25M combined.
Alpha bought 80 Gardner St. in Allston and 175 Adams St. in Newton for $13.5M and $11.2M, respectively, according to public records. The property management firm bought the properties from two separate entities linked to the family of the late Marcello Stisi and his widow, Elia.
The Allston property is near Boston University and is marketed as a “prime BU West location,” according to a Zillow listing. The property in Newton is a four-story, 34K SF apartment building with 31 units, according to the city assessor's database.
With over 140 properties and 2,000 units across Greater Boston, Alpha is one of the region's largest off-campus student housing providers, according to its website. The company has also faced a string of controversies in the last decade after news emerged, including in a feature in a 2014 Boston Globe Spotlight piece, about how the landlord managed its student and conventional multifamily properties.
The property management company’s owner, Anwar Faisal, was called “Boston's most infamous landlord” in a 2021 Boston Magazine article. Renters recounted steep rent increases while dealing with bedbugs, cockroach infestations and overflowing trash bins.
Tenants have pushed back on Faisal and Alpha. One group at 53 and 63 Fellsway West formed the Alpha Tenants Union in response to the allegedly unsanitary and unhealthy conditions at the two apartments buildings, Boston Magazine reported.
Alpha didn't respond to Bisnow's request for comment.
