Search
 

20-Acre Fan Pier Finally Hits the Market

BOSTON-Fan Pier, the 20-acre mixed use development site located on South Boston's waterfront, is officially on the market. Chicago-based developer Nicholas Pritzker spent nearly three years getting the $1.2-billion hotel, office and residential complex permitted, but never managed to secure the necessary financing.

By Naomi Grossman | Updated on May 13, 2004

BOSTON-Fan Pier, the 20-acre mixed use development site located on South Boston’s waterfront, is officially on the market. The city was stunned when Nicholas Pritzker, the Chicago-based developer who spent nearly three years getting the $1.2-billion hotel, office and residential complex permitted, announced a few months ago that he would be selling the property. Pritzker never managed to secure the necessary financing to move the project forward.

Holliday Fenoglio Fowler LP’s New York City and Boston-based team are being retained to market the site. HFF is not listing an asking price, but a source involved in the deal tells GlobeSt.com that the firm is expecting the property to bring in somewhere around $200 million.

Among those involved in the project are managing directors Joe Morningstar and Glenn Whitmore, managing director Andrew Scandalios, executive managing director John Fowler, managing director Sarah Leggat and senior real estate analyst Coleman Benedict. Pritzker’s company, the Hyatt Development Corp., owns Fan Pier.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.