BOSTON-Now they have the end piece. Continuing an aggressive development and investment campaign near Fenway Park that has already dramatically changed the district this decade, Samuels & Associates has closed on a package of conjoined buildings where Boylston Street and Brookline Avenue converge. The $8.5 million purchase gives Samuels control of a key triangular site, having previously secured several connecting buildings on the parcel that abuts the firm’s signature Trilogy residential high-rise.

Fueled by an $11.2 million loan from KayBank, Samuels affiliate Fenway Ventures Point Properties LLC purchased 186-200 Brookline Ave. and the adjoining 1395-1399 Boylston St. The Brookline Avenue asset is home to D’Angelo’s Sandwich Shop, and fronts a major intersection at Park Drive leading into the Longwood Medical Area and onto the Jamaicaway. The acquired properties are across from the former Sears warehouse, a hulking art-deco building that now features a Best Buy and other shops, plus 450,000 sf of office space.

The seller of the Fenway buildings is Riverside Properties Inc. of Wellesley, whose faded sign on Brookline Avenue still advertises available space for lease in the low-slung structures. Riverside President Mark Levy did not return a phone call by press deadline. Levy’s firm paid $955,000 for the assets in June 1994.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.