Roosevelt Apartments, a 73-unit apartment building in downtown New Bedford’s historic waterfront district, traded hands for $8,675,000.

The 1920s-era brick building features studio, one- and two-bedroom units across six stories. The property also includes 26 off-street parking spaces.

Evan Griffith and Tony Pepdjonovic of Marcus & Millichap procured the buyer and represented the seller, a family office based in New Jersey.

“The Roosevelt Apartments has a rich history in New Bedford, and we were excited to assist the sellers with this unique assignment. The winning bidder was drawn to the property because of its location in the coveted historic waterfront district, which continues to undergo significant revitalization, and they are excited to do their part through building improvements,” said Pepdjonovic.

“This 73-unit asset presented a compelling value-add opportunity of scale that attracted investment capital from Boston, Rhode Island and Connecticut, many of which have no holdings in the New Bedford area,” said Griffith.