Boston & New England CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Newmark’s Sale of Chinatown Properties Aims to Prevent Worker Displacement
Newmark has completed the sale of 64 Beach Street and 72 Kneeland Street, two mixed-use assets located in the Chinatown district of Boston, MA.
A Newmark team of Robert Griffin, Joseph Alvarado, George Demoulas and Casey Valente represented the seller, the Lau family, and procured two separate buyers. 64 Beach Street was acquired by Asian Community Development Corporation and 72 Kneeland Street was acquired by Kendall Capital.
“Chinatown buildings like 64 Beach Street are home to local restaurant employee and other low-wage workers,” said Angie Liou, executive director of ACDC. “We hope to do more projects like this to prevent displacement in Chinatown.”
Totaling 13,374 square feet and presently 89% leased, 64 Beach Street encompasses 14 residential units and 1,953 square feet of retail space. Totaling 18,620 square feet and presently 81% leased, 72 Kneeland Street encompasses six residential units, four floors of office space and 1,864 square feet of retail space.
- ◦Sale/Acquisition
