Investors Grab Newbury Street Asset in $43M Buy

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BOSTON-An old schoolhouse that is now one of the city’s most exclusive retail locations has been sold for $42.6 million to a group of private international investors. The deal ranks among the most expensive acquisitions on trendy Newbury Street.

The sale of 201 Newbury St., arranged by Anglo-Irish Bank for a group of unidentified Irish-based investors, gives the new owners 24,993 sf of retail space that is more than 91% leased to a number of specialty apparel stores, including Betsy Johnson, American Eagle Outfitters, the Gap and Adriano Goldschmied. Cushman & Wakefield’s Boston office represented the seller, the Abbey Group, of Boston, which developed the five-story mixed-use building several years ago.