REBusinessOnline

NKF Negotiates $42.4M Sale of Office, Retail Building in Boston’s Back Bay Area

8-Newbury-Street-Boston

The office and retail building at 8 Newbury St. in Boston was originally built in the 1920s as a showroom for automaker Rolls-Royce.

BOSTON — Newmark Knight Frank (NKF) has negotiated the $42.4 million sale of 8 Newbury Street, a 17,023-square-foot office and retail building located in Boston’s Back Bay area. A Rolex flagship store occupies the ground- and second-floor retail spaces of the property, which was originally built in the 1920s. Robert Griffin, Geoffrey Millerd and Paul Penman of NKF represented the seller, a joint venture between UrbanMeritage and L&B Realty Advisors, in the transaction. The trio also procured the buyer, a partnership between Chile-based family office Corso and GLL Real Estate Partners, an international real estate fund manager based in Germany.

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