New Boston Fund Sells 217-Unit Luxury Apartment Tower in Boston for $144.5M
BOSTON — New Boston Fund has sold The Tower at One Greenway in Boston for $144.5 million. The 217-unit luxury apartment tower is located at 99 Kneeland St.
Completed in 2015, the property is 21 stories tall, featuring 3,180 square feet of retail space and a 135-space underground parking garage. Apartment units average 822 square feet in size.
Amenities include a rooftop terrace with fire pits; an outdoor park with deck and grills; balcony lounge; resident lounge with billiards and entertainment bar; fitness center; yoga studio; dog wash; bike store; electric car charging stations; and BeanTowne Coffee shop.
The unprecedented demand for Boston residential real estate was cited as the reason for selling the property, according to Jim Kelleher, CIO at New Boston Fund.
Matthew Lawton, Riaz Cassum, Chris Phaneuf and Mark Campbell of HFF marketed the property on behalf of the seller. PGIM Real Estate purchased the property.
New Boston Fund is a privately owned real estate investment manager. The company 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.
— Kristin Hiller