Boston — Newmark announced the $5.6 million sale of 50-52 Broad Street, a 9,947-square-foot office asset located in Boston.
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.
