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Downtown Boston Office Sells for 71% Discount on 2019 Price
An 11-story office building in downtown Boston has sold for $30 million, representing a 7% discount and a major loss for the owner that paid $103 million in 2019, the Boston Business Journal reported. Atlanta-based Jametown traded the property at 18 Tremont St., between Boston Common and City Hall, to an affiliate of locally based Mai Luo.
The sale price is the latest sign of how much office values in Boston and the suburbs have often shrunk to a fraction of previous levels, reported the Business Journal. Boston’s vacancy rate was 5% when Jamestown acquired 18 Tremont St. but ended the first quarter of 2026 at 18.5%. .
The Tremont Street sale is one of the biggest discounts in Boston in recent years. Others include 1 Lincoln St., which sold for $400 million just three years after being valued at $1 billion, and 99 Bedford St., which sold for $19 million at an auction late last year, after selling for $51 million in 2019.
- ◦Sale/Acquisition
