The seller, a Wharton equity company, acquired the property in early 2017 in an off-market transaction from the original developer and thereafter undertook significant renovations at the property that produced dividends.

The recently completed property was acquired by Hudson Capital Properties, a New York-based company headed by the family that runs Hudson Media, the leading magazine distributor in the Northeastern U.S., as well as the nation's largest airport news and concessionaire.

"According to data by Climate Central, a quarter of Boston could be underwater by 2045. Additionally, catastrophic flooding in New York City may become more common over the next few decades, as pointed out in a 2017 study by Rutgers."