January 6, 2022 10:00 AM
Newmark announces the $6.225 million sale of 63 Bay State Road, a 7,401-square-foot office asset located in the Fenway-Kenmore neighborhood of Boston, Massachusetts. Newmark Co-Head of U.S. Capital Markets Robert Griffin, Executive Managing Director Michael Byrne, Senior Managing Director Michael Greeley and Associates Joseph Alvarado, George Demoulas and Casey Valente of the firm’s Boston Capital Markets and Private Capital groups represented the asset’s private seller and procured its institutional buyer.
A four-story asset that was originally developed as a single-family townhome, 63 Bay State Road features a mix of restored historical details and modern upgrades. The property was operated as a family office for previous ownership and delivered vacant to the new owner.
“We congratulate all parties involved in this successful transaction and are proud to demonstrate the power of the Newmark platform,” said Byrne.
63 Bay State Road is located directly adjacent to graduate housing, education and research facilities for Boston University, a top-ranked private college that enrolls 33,000+ students. It is further situated within walking distance of Kenmore station, a key transit hub, and surrounded by a vibrant mixed-use environment that is anchored by Fenway Park, the home of the Boston Red Sox.
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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