News: Front Section
Posted: May 27, 2008
Abbey Road Back Bay buys two buildings for $10 million in Boston
Abbey Road Back Bay LLC completed the $10 million acquisition of two buildings, one on Boylston St. and the other on Newbury St.
The Westport, Conn. based firm acquired 131 Newbury St. for $6.2 million and 569 Boylston St. for $3.8 million from the florist, Winston Flowers.
"This is our second acquisition on Newbury and Boylston Sts. in an area we believe to be a very solid place to invest real estate dollars on behalf of our investors," according to Abbey Road principal Mark Keeney.
The current acquisition was assisted by Westport based Tim Breda of Goedecke & Co. who helped Abbey Road in securing a $7.25 million mortgage from TD Banknorth.
Last summer, Abbey Road paid $9.5 million for the nearby 123 Newbury St. between Clarendon and Dartmouth Sts.
"We find the Boylston/Newbury Street area to have a great combination of retail, residential, restaurants, the arts and open space that attract people and business to the area" said Keeney.
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