Newbury Street Asset Trades for $6M

BOSTON-Another long-held property on Newbury Street has changed hands, but this time, the buyers are denizens of the neighborhood. Salon owner Serge Safar and son Sacha Safar have paid $5.7 million for 267-269 Newbury St., a diverse commercial asset a few blocks from their Safar Salon at 234 Newbury St.

The former home of Davio’s Restaurant and current address of the trendy Croma eatery is a small multi-level property that has residential on the upper floors. “It’s a nice building,” says one local commercial real estate expert who cites a wider berth than similar structures on the street, plus a well-maintained façade and the substantial fit out spent on the Croma space. The building was sold by P&F Realty Trust, an entity controlled by a local family that had owned 267-269 Newbury St. as far back as the 1960s, according to real estate records. Representatives of the sellers did not return phone calls by press deadline.