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JV Acquires Back Bay Building for Partial Condo Conversion

BOSTON-Gold Associates and VEF purchase 441 Stuart St. from 441 Stuart Street Realty Trust for $37.5 million. The new owners plan to convert floors five through 11 of the 141,658 sf office building to high-end residential condominiums.

By Naomi Grossman | Updated on July 08, 2004

BOSTON-Gold Associates and VEF purchased 441 Stuart St. from 441 Stuart Street Realty Trust for $37.5 million. The 141,658 sf office building is located in the heart of the city’s Back Bay neighborhood. Meredith & Grew Inc.’s Leigh L. Freudenheim, vice president and Michael S. Edward, vice president represented the seller and procured the buyer in the transaction.

The 11-story building was built in 1927 and renovated in 1989. In a move that is typical of a current trend among developers in the city, the new owners plan to convert floors five through 11 to high-end residential condominiums. Healthworks currently leases three floors in the lower part of the building and, according to local published reports, will remain in the building under the new ownership.

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