BOSTON– Cushman & Wakefield announced that the real estate services firm has arranged the sale of 37-43 Temple Place, a 20,025-square-foot boutique mixed-use building in Boston. The final sale price was $20,000,000, equating to more than $998 per square foot and $1,250,000 per unit.
Cushman & Wakefield’s Bruce Lusa, Chris Sower, Jon Bryant, John Flaherty, Kevin Jones, Mary VanNatta and Julie Regan represented the seller, 3MJ Realty LLC, in the transaction. The property was acquired by SC Alpha, Inc.
“We are thrilled to have arranged the sale of this exceptional downtown property, presenting a rare opportunity to acquire a high-quality jewel box of a building in a prime location,” said Lusa. “With large units, high ceilings and exposed brick, we had strong interest from a wide variety of domestic and foreign investors.”
37-43 Temple Place consists of 16 residential units with a mix of two-, three- and four-bedroom floorplans, as well as 4,950 square feet of retail space on the first floor. Fully gut renovated and reconstructed in 2008, the well-maintained building features modern unit finishes and newer base building systems, including heating/cooling equipment, windows and roof. The five-story property is 100% leased with retail tenants including The Crossing Wine & Spirits and Victoria’s Jewelry.
The property is located in the core of Downtown Crossing, a dynamic mixed-use destination in the heart of Downtown Boston. Boasting a central location with access to multiple subway stations, the neighborhood features an abundance of shopping, dining, entertainment and cultural amenities.