Renew Worcester, a 92-unit apartment building in Worcester, has been sold for $25.73 million to The Micozzi Cos., a Boston-based firm with a growing presence in Central Massachusetts.
Micozzi Cos. purchased Renew Worcester in a deal finalized on Wednesday from an entity belonging to FPA Multifamily, according to Worcester District Registry of Deeds records. FPA is a private real estate investment firm based in San Francisco.
Constructed in 1965, Renew Worcester is an eight-story apartment building located at 5 Suburban Drive, near Doherty Memorial High School. Amenities at the site include balconies, a business center, and walk-in closets. The building contains 63 one-bedroom units and 29 two-bedroom units, according to CoStar.
FPA Multifamily had purchased the site for $22.4 million in 2021.
Micozzi Cos. owns nearly 100 properties across Massachusetts and Rhode Island. This transaction is the company’s fourth multi-family purchase in Central Massachusetts since 2020: Micozzi Cos. purchased Littleton Lyne Apartments in Ayer for $12.1 million in 2020, the Oak Apartments in Worcester for $2.65 million in 2020, and a three-story apartment building at 124 Vernon St. in Worcester for $1.77 million in 2024, according to CoStar.
The 2.51-acre site of the Renew Worcester apartment building received a 2025 tax assessment value of $17.58 million, according to City of Worcester property records.
Eric Casey is the managing editor at Worcester Business Journal, who primarily covers the manufacturing and real estate industries.
