You probably read today about the church’s plans for leasing out a couple of its buildings in the Back Bay, as well as selling two of Mary Baker Eddy’s homes, in Newton and Lynn.
In my opinion, they’re missing the chance to make some serious cash. They own the Midtown Hotel (it’s actually kind of a motel, wouldn’t you say?) at 220 Huntington Ave. It has an assessed value of $8.8 million, but I think it could bring in substantially more, if sold to a developer. I think its location is prime for a hotel, condos, or a mixture of both. Of course, being Boston, any building(s) of significance would face extreme neighborhood opposition, but I think it could work.
Of course, if they’re bringing in good money on the place, there’s no reason to sell, right?
More details: Christian Science church sets deep cuts – By Thomas C. Palmer Jr., The Boston Globe