The 0.7-acre site has already sparked the interest of at least10 potential buyers who view it as the future site of a hotel orresidential development, Yanni Tsipis, a vice presidentwithMeredith and Grew, tells "It represents one of theonly bite-size development opportunities on the waterfront." Tsipisand brokerage president Thomas J. Hynes Jr. are marketing thesite.

Although there is no asking price, Donald Annastasia, assistanttreasurer of NStar, estimated that the land was worth about $10million in 2003. "Given the volume of interest," notes one sourcefamiliar with the land sale, "I would expect it to command apremium."

The site also sits near several large scale developments plannedfor the South Boston waterfront. "It's a small development parcelwithin these mega blocks," notes Tsipis, explaining that theproperty is three blocks from the 21-acre Fan Pier site and closeto several other waterfront properties currently under development.An end date for bidding on the site has not been set.

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