Boston Properties Wins Russia Wharf for $100M

BOSTON-Boston Properties beat out about a dozen other prospective buyers to take the Russia Wharf, a trophy waterfront asset that is permitted for mixed-use development. A source familiar with the sale tells GlobeSt.com the buyer will pay nearly $100 million to acquire the three-building Congress Street complex.

The property, located between the Rose Fitzgerald Kennedy Greenway and Fort Point Channel, is likely among the most expensive waterfront assets acquired in recent years, David Begelfer, head of the local chapter of the National Association of Industrial and Office Properties, tells GlobeSt.com.

“Because of the existing structures and the density that is being put on the site, this is probably among the most expensive pieces of property on the waterfront. It might even be the most expensive piece of developable land in the city’s history,” he says.