Two-story Back Bay bar sells for $8.8 million to developer owner of building next door
Yesterday (September 26th, 2016), local real estate developer and investor C. Talanian Realty Company acquired 903 Boylston Street, a two-story, 7,471 square foot building located on a 2,800 square foot Back Bay parcel, for $8.8 million as recorded in the Suffolk County Registry of Deeds. C. Talanian Realty Company also owns 907 Boylston Street, a three-story, 7,925 square foot building located on a 2,800 square foot parcel adjacent to 903 Boylston Street, presenting a significant development opportunity. Together, the two properties stand on a 5,600 square foot parcel located in the heart of the Back Bay across from the Prudential Center steps to the MBTA Green Line.
903 Boylston Street last sold in March 1978 for $135,000. The building historically had three additional floors, presenting an opportunity to build a vertical addition to the existing structure. 903 Boylston Street is 100% occupied by the Lir bar and restaurant, which has leased the building through 2018 with a 5-year option to renew. Boston Realty Advisors represented 903 Boylston Street's seller; visit 903boylston.com for additional information about the building. The following is the deed for C. Talanian Realty Company's acquisition of 903 Boylston Street: