Broad Street office building across from luxury condo development sells for $14 million
125 Broad Street, a seven-story, 24,692-square-foot office building with ground-floor retail located across from the Boulevard on the Greenway luxury condominium development, has sold for $14 million. The sale amounts to $567 per square foot. 617 Luxury Properties, LLC and Freudenheim Partners brokered the sale between seller 125 Broad Street Realty Trust, who acquired the building for $1.165 million or $47 per square foot in June 1998, and buyer Six Capital, LLC. Eastern Bank provided $9.1 million in mortgage financing towards Six Capital’s acquisition.
“I am very pleased with our recent acquisition of 125 Broad Street,” said Six Capital CEO Sean Wilder in a prepared statement. “I believe strongly in the fundamentals and underlying value in the Financial District. With continued development on the Boston waterfront, and the emergence of life on the Rose Kennedy Greenway, the Financial District is enjoying a renaissance of its own, and particularly the Broad Street corridor. I am optimistic about the long-term value proposition that the Financial District offers and am thrilled to have the opportunity to acquire such a well-located asset.” Six Capital acquired 281 Franklin Street, a nearby 12,000-square-foot office and retail building, for $6.15 million or $513 per square foot in November 2017.
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