Approved South Boston development, first acquired for $7.8M, sold for $17.25M to new developer

Local general contracting and development firm Metric Corporation has acquired the approved development site at 45 West 3rd Street in South Boston for $17.25 million. Former owner Spaulding & Slye Investments purchased the site for $7.8 million. Spaulding & Slye Investments guided the site through approval of a new-construction mixed-use building. Ground has not yet been broken on the new building, which was approved for construction in July 2015.

Metric Corporation is owned by builder and developer Geoffrey S. Caraboolad. The 45 West 3rd Street site is located steps to the Seaport District and Broadway Station on the MBTA Red Line. The following is the deed for the sale of the site to Metric Corporation (E & T LLC) for $17.25 million on Friday, April 15th, 2016:

Spaulding & Slye Investments also closed on its' acquisition of the 45 West 3rd Street site on Friday, the same day the site was sold to Metric Corporation. The main parcel, 41 West 3rd Street, was acquired for $7 million. An adjacent home at 68 Athens Street was acquired for a total of $800,000. A single deed, posted above, subsequently transferred ownership of both parcels to Metric Corporation. The following are the deeds for former owner Spaulding & Slye Investments' (SSI West Third Boston LLC) acquisition of the site for a total of $7.8 million:

More information about the approved 45 West 3rd Street project is posted below.

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