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City Realty Buys Downtown Office Building at Half Price
City Realty has acquired its second building in Boston’s Leather District, purchasing 201-207 South St. from an MC Real Estate Partners affiliate for $13 million. The six-story, 72,000-square-foot building, located next to South Street Diner and near South Station, was bought by the affiliate in 2016 for $27.5 million.
This deal follows City Realty’s purchase of 186 Lincoln St., another similarly sized office building, eight months ago at just over half its 2015 sale price. MCRE’s website lists three other Boston-area properties in its portfolio, all similarly sized offices: 11 Avenue de Lafayette and 110 Chauncy St. in Boston, and 485 Massachusetts Ave. in Cambridge.
- ◦Sale/Acquisition