This has got to be the best real estate deal of the year.
The Boston landmark building that is home to Olives Restaurant [in Charlestown] has changed ownership for the second time in a year and a half.
Last week, the 36,000-square-foot property sold to Burlington, Mass.-based Compass Realty Associates for $11.5 million.
The seller, CBE Technologies Inc., purchased the building last February from the Davis Cos. for $5.9 million.
You read that right. The company that sold the property this year for $11.5 million bought it 18-months ago, for half that amount, or $5.9 million.
“Raises for everyone, and take the rest of the summer off!” said the company’s CEO.
City Square landmark building changes hands – Boston Business Journal
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