December 17, 2021 8:30 AM
Newmark announces the $5.6 million sale of 50-52 Broad Street, a 9,947-square-foot office asset located in Boston, Massachusetts. Newmark Co-Head of U.S. Capital Markets Robert Griffin, Senior Managing Director Michael Greeley and Associates Joseph Alvarado, George Demoulas and Casey Valente of the firm’s Boston Private Capital Group represented the asset’s private seller and Senior Managing Director Matthew George of the firm’s Downtown Boston leasing team procured the buyer, an owner-user.
Originally constructed in 1853 and known as “The Architectural Building,” 50-52 Broad Street comprises upper-level office space and street-level retail space. It features modern buildouts highlighted by open ceilings, generous clear heights and exposed timber beams.
“We congratulate all parties involved in this successful transaction, which achieved record pricing, and are proud to demonstrate the power of the Newmark platform,” said Valente.
By virtue of its positioning at the corner of Broad and Milk Streets in the heart of Downtown Boston, 50-52 Broad Street is situated just steps from four MBTA subway stations, the city’s South Station transit hub and the MBTA commuter ferry at Rowes Wharf.
Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries (“Newmark”), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Newmark’s comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform’s global reach with market intelligence in both established and emerging property markets, Newmark provides superior service to clients across the industry spectrum. Newmark generated revenues in excess of $2.5 billion for the trailing twelve months ending September 30, 2021. Newmark’s company-owned offices, together with its business partners, operate from over 160 offices with approximately 6,200 professionals around the world. To learn more, visit nmrk.com or follow @newmark.
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