Quick post about a commercial building transaction that just took place down in the Fort Point Channel neighborhood:
Brickman Associates has nabbed 51 Sleeper St. from the Mayo Group for $45 million in an off-market transaction.
Why is this worthy of note?
Mayo Group bought the property for $16 million … just two years ago! (That translates out to buying it for $100 per square foot and selling it for $300 per square foot.)
The office space market in Boston is on fire.
As is the Fort Point Channel district.
Source: Brickman to buy Sleeper Street building – By Michelle Hillman, The Boston Business Journal