BOSTON–Harvard Medical School is in final negotiations to sell part of its property at 4 Blackfan Circle in Boston, and it will likely close the sale in May or June, the Harvard Crimson reported Wednesday.
The building, located between Vanderbilt Hall and the New Research Building on the school’s Longwood campus, has been on the market for at least five months, according to the newspaper.
Quoting Medical School Dean George Q. Daley, the Harvard Crimson said that more than 90 firms requested information in this manner, about 40 of which sent representatives to the building to tour it.
At least 12 firms made bids on the building, according to Daley as reported by the Harvard Crimson.
“We selected what we thought would be the best partners because these are folks that we’re going to be working with in our community,” Daley said of the vetting process for bids on the property, according to the Harvard Crimson.
“The entire property is not for sale — just eight of the building’s 11 floors. The deal will be organized as a 99-year unsubordinated leasehold interest, which means that Harvard will still own the building in name, but will give up all other rights to the purchaser,” the Harvard Crimson said.