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BOSTON-A Goldman Sachs subsidiary is set to sign a $93-million deal that would give it ownership of the last 17 buildings along the Boston waterfront owned by Boston Wharf, the firm that developed the properties in the 1800s. The Archon Group has offered to buy the properties in the Fort Point Channel area which is quickly being developed as part of the city’s Seaport District. The pending sale would give Archon control of the 17 buildings and a vacant lot with approximately 1.2 million sf of space. About 80% to 85% of the space is leased.

Robert Kenney, president of Boston Wharf, says the firm is in the process of negotiating the purchase and sale of the properties and expects to close on the deal within the next few days. Boston Wharf, which once owned a portfolio of 79 buildings and more than a dozen other pieces of land, developed the properties in the 1800s after filling in the area around Fort Point Channel.

Representatives from Archon at both the company’s corporate headquarters in Irvine, TX and its Boston office did not return phone calls seeking comment. Real estate insiders, however, tell GlobeSt.com that the property is set to be sold to Archon for $93 million. Boston Wharf has been trying to find a partner to redevelop the property for several years and had negotiated with both Lehman Brothers Inc. and the Rockport Group in an effort to take ownership of the buildings.

Boston Wharf tried to sell about 55 buildings to Tishman Speyer Properties of New York City for about $400 million in 2003 but that deal fell through. Portions of the properties have since been sold for a total of $220 million.

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