The deal, which involves 44 industrial buildings, first reported in the Boston Globe, was confirmed for GlobeSt.com by a city representative and by Vivian Li, executive director of the Boston Harbor Association. A local representative of Tishman & Speyer declined to comment on the deal. Robert Kenney, who runs Boston Wharf, did not return calls by deadline. The firm is owned by UK-based Peninsular & Oriental Steam Navigation Co.
Li tells GlobeSt.com that the selling price is purported to be $500 million, a figure that has been reported in local publications.
The city representative notes that the mayor's office was informed of the deal and she emphasizes that that the city is confident that "Tishman will continue in Boston Wharf's tradition and ensure that the city's goals are met." There has been some concern expressed as word of the deal leaked out over the future of the artist's residences in the area. But the city representative emphasizes that while the property is privately owned they believe that Tishman will be willing to continue having a "dialogue with us."
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