Chiofaro Wins Harbor Site Deal, Sources Say

BOSTON-A dream that has lingered for more than a year seems to have finally come true for developer Donald Chiofaro, with industry sources claiming that the Chiofaro Co. and Prudential Real Estate have won the rights to acquire a prized waterfront parcel, now dominated by a 1,380-space parking garage, on Boston Harbor. The partnership is said to have outlasted several nationally-known competitors for the 1.4-acre site, and will pay approximately $155 million for the property. A purchase and sale agreement has been signed, sources insist.

Chiofaro “definitely has it,” one source says of the developer’s pursuit of the nine-level Harbor Garage. At this point, the parties involved are remaining mum on the negotiations, with brokers at Cushman & Wakefield declining comment, while a call to Chiofaro’s headquarters at his International Place office complex in Boston was not returned by press deadline.