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400 Summer St. is a 16-story laboratory building that is part of WS Development's 23-acre Boston Seaport development that is designed by Morris Adjmi Architects of New York City in collaboration with the Boston office of Stantec.
With New York City’s affordable housing crisis, the developers plan to tap into tax credits and to return more than 1,800 market-rate apartments to rent regulation.
KKR and Banyan Street Capital are planning an additional $5 million in capital improvements that they state will address enhancements to the fitness center, retail concourse, outdoor plaza and tenant elevator landings and corridors.
The purchaser was a California-based family office with extensive experience acquiring and managing trophy quality, grocery anchored shopping centers throughout the United States, Pegasus Investments states.
The Gladwyne, PA-based firm has purchased the Fox Chase Apartments, at 7922-36 Barnes St. and the Arendell Avenue Apartments, located at 4308 Arendell Ave. in Northeast Philadelphia, according to Rittenhouse Realty Advisors, which brokered the transaction.