The subsidiary of Sawyer Enterprises only recently completed the W Boston project a few months ago, and as the Boston Globe reports, the city of Boston supplied $10.5 million to finish the 28-story mixed-use tower. Reportedly, the W Boston Hotel was in trouble before it was out of the starting gate, relying too heavily on pre-sales of the condominium piece to off-set its amenity expenses. Currently, according to the Boston Globe, the 122 unit condo portion is only 10% purchased, although other reports are slightly higher.
The development cost came to roughly $243 million and the luxury brand hotel is operated by Starwood Hotels & Resorts Worldwide Inc. Room rates are listed on the W Boston Hotel's website start around $250 per night.
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