360 Newbury has had a storied past. Most recently, the lower three floors went from being a Tower Records store to a Virgin Records store to a Best Buy (which seems an odd fit).
Upstairs, 54 condos have taken over where there used to be office space; six units remain for sale.
Now, the owner of the lower floors is putting them up for sale.
He may end up getting as much for those lower floors as he spent for the entire building, only six years ago.
Boston Residential Group LLC is selling 46,000 square feet of retail space at 360 Newbury St., and based on recent comparable sales may draw offers between $45 million and $55 million, according to Cushman & Wakefield of Massachusetts Inc., the broker. Boston Residential bought all of 360 Newbury, one side of which is on Massachusetts Avenue, in 2004 for $47 million, and has since converted the six upper floors into 54 luxury condominiums.
Source: Part of storied building up for sale – By Thomas C Palmer, Jr., The Boston Globe
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