Hong Kong developer acquires 4.7-acre Savin Hill property for $17 million
Morningside Group, a real estate development company led by Hong Kong billionaire investor Gerald Chan, has acquired the 4.7-acre Spire Printing Company property in Dorchester’s Savin Hill neighborhood, located adjacent to the MBTA Red Line station, for $17 million. The property, located at 65 Bay Street, is comprised primarily of surface parking and landscaping, with a two-story, 78,000-square-foot industrial building located on site. The sale amounts to $3,617,021.28 per acre of land, and $217.95 per building square foot.
Spire acquired 65 Bay Street in November 2013 for $7.1 million, amounting to $1,510,638.30 per acre and $91.03 per building square foot. Chan acquired the 2-acre property at 1200 Dorchester Avenue, located a short walk from the Spire property, for $5.25 million in May 2015. Three buildings totaling 56,224 square feet stand at 1200 Dorchester Avenue; the 2015 sale amounts to $2.625 million per acre of land and $93.38 per building square foot.
is made available under the Open Database License: http://opendatacommons.org/licenses/odbl/1.0/. Any rights in individual contents of the database are licensed under the Database Contents License: http://opendatacommons.org/licenses/dbcl/1.0/
Please confirm your credit card information to continue using BLDUP. Once it is updated you can continue to use BLDUP without interruptions. You will not be charged unless your account is overdue. Thank you.