CBRE/NEW ENGLAND BROKERS $20 MILLION MIDWAY STUDIOS SALE

BOSTON — CBRE/New England’s Capital Markets team has brokered the sale of Midway Studios, an 89-unit artist live/work community located in Boston’s Fort Point Channel district. Midway Studio Associates, a joint venture between the Keen Charitable Foundation and the Fort Point Cultural Coalition, sold the property for $20 million to a joint venture between New Atlantic Development LLC and the residents of Midway Studios. The property was originally built in 1912 and redeveloped into artist living space in spring 2005. The live/work studios, located on the second through sixth floors, are designed to accommodate a broad range of artists’ mediums. The first floor features two-story space with approximately 24,740 square feet of office and retail space. The property is currently home to Elevin Studios, Studio Troika, Arts & Business Council of Greater Boston and The Club of George Foreman III. Additionally, Late July Snacks will move in this fall. Simon Butler and Biria St. John of CBRE/NE represented both parties in the transaction.