Search
 

Boston Properties Wins Russia Wharf for $100M

BOSTON-Boston Properties takes title to one of the most sought after waterfront sites in the city with a nearly $100-million offer.

By Beverly Ford | Updated on March 07, 2007

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.

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.