HFF announces $144.5 million sale of 217-unit luxury apartment community in Boston

BOSTON– Holliday Fenoglio Fowler, L.P. announced the $144.5 million sale of New Boston Fund’s, The Tower at One Greenway, a newly-constructed, 217-unit luxury apartment community in downtown Boston.

The HFF team marketed the property on behalf of the seller.

Completed in 2015, The Tower at One Greenway is a LEED Silver®-certified, 21-story trophy apartment tower with 3,180 square feet of retail and a 135-space underground parking garage.  Units average 822 square feet and are offered in 23 different open-layouts with chef-style kitchens, GE stainless Energy StarTM appliances, built-in pantries, in-unit washers and dryers, walk-through closets and keyless entry.

One Greenway

Top floor units are equipped with personal balconies, floor-to-ceiling glass and GE Café series appliances.  Residents have access to a top-of-the-line amenity package that includes a rooftop terrace with fire pits; an outdoor park with deck and grills; balcony lounge with 80” TV, 11th floor resident lounge with billiards and entertainment bar; fitness center, yoga studio, K9000 Turbo Dog Wash, bike store and electric car charging stations.

Additionally, BeanTowne Coffee is situated directly off the lobby.  The property’s location at 99 Kneeland Street places it within walking distance of Boston’s major destinations and provides residents with unparalleled access to public transit at South Station, the MBTA Red and Orange Lines as well as immediate access to Interstates 93 and 90.

“The unprecedented demand for Boston residential real estate made now the opportune time for us to sell the Tower at One Greenway,” said Jim Kelleher, Chief Investment Officer at New Boston Fund. “New Boston is extremely proud of its role in transforming the former Parcel 24 site into One Greenway and we appreciate the contributions of our many partners made throughout the course of this project.”

The HFF investment advisory team included executive managing director Matthew Lawton, senior managing director Riaz Cassum, managing director Chris Phaneuf and senior director Mark Campbell.

New Boston is an independent, privately owned real estate investment manager and an industry leader in providing real estate investment, development and management services with a history of strong sponsorship and oversight of its investment funds. New Boston has developed or acquired commercial and residential properties with a cumulative market value of about $3.5 billion, including 23 million square feet of commercial real estate and 7,500 residential units.  Its investment vehicles cater to institutional and high-net worth investors by offering value-add and urban real estate investment funds with a focus on diversification and capital preservation.

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