Four contiguous vacant Bay Village parcels sell for $13.5 million

A total of four contiguous vacant parcels located in Bay Village sold today for a combined $13.5 million as recorded in the Suffolk County Registry of Deeds. The parcels sold total approximately 7,736 square feet of land area and include the following:

• 212 Stuart Street (3,183 square feet)
  
• 222 Stuart Street (3,151 square feet)
  
• 17 Shawmut Street (702 square feet)
  
• 19 Shawmut Street (700 square feet)
  

212 Stuart Street was sold today for $6 million to Stuart Acquisition 12 LLC, a limited liability company (LLC) registered in Massachusetts. The other three parcels were sold today with a separate deed for $7.5 million to Stuart Acquisition 22 LLC, a LLC registered in Massachusetts. The registered agent for both LLCs is law firm Sherin and Lodgen. The official buyer of the four parcels has not been disclosed.

Development has been proposed for the parcels in the past. An eight-story residential building was approved for construction by the Boston Redevelopment Authority for 212 Stuart Street in 2006; the approved building was never built. 212 Stuart Street's then-owner was Metropolitan Housing Partners of New York.

Hera Development Corporation of Brighton, MA acquired the 212 Stuart Street site in 2007 for $6.5 million and had an agreement to buy the other three adjacent parcels. Hera Development Corporation proposed to construct a 10-story office building in 2008; the proposed building was never built. The following is a rendering of the proposed building:

Rendering by Hendren Associates

212 Stuart Street was sold in 2012 for $3.3 million by Hera Development Corporation to Northwood Investors, then-owner of Boston's Revere Hotel. A preexisting three-story commercial building at 212 Stuart Street was demolished in summer 2014. 212 Stuart Street changed hands again in December 2014 when it was sold for $5 million to Pebblebrook Hotel Trust, who also bought the Revere Hotel around the same time. 222 Stuart Street, 17 Shawmut Street and 19 Shawmut Street were owned by Vasilios Kotzampaltiris since 1983 and have been used as a parking lot.

The following is the deed for today's sale of 212 Stuart Street (sold for $6 million):

View 212 Stuart Street >>