News: Front Section
Posted: November 3, 2023
Benzinger, McDonald and Weissman of Boston Realty Advisors represent buyer in $57 million sale of Whitney Hotel
Boston, MA Boston Realty Advisors (BRA), represented the buyer of the renovated Whitney Hotel on Charles St. in Beacon Hill in an off-market sale for $57 million. The hotel, located at 170 Charles St., closed at a price that represented $876,000 per key.
“We have established a vast network of owners and investors that stretches globally and that includes Egeria Group, a private equity group based in Amsterdam,” said Kevin Benzinger, director of the capital markets group of BRA. “This asset represents a tremendous addition to Egeria’s U.S. real estate portfolio. We are excited to have represented them in this acquisition.”
The Whitney Hotel is a five-story, 65-room luxury boutique hotel at the Cambridge Circle entrance to Charles St. The seller was The Related Companies, which purchased the Whitney in 2016 and completed the first phase of renovation in 2019, reopening then. Work completed, and final finishes were completed this year.
The Whitney was revitalized and expanded from an existing hotel, at the Corner of Charles St. and Cambridge St.
The sale was handled by Benzinger, Ryan McDonald, leader of the hospitality division, and Jason Weissman, founder and senior partner of Boston Realty Advisors.
The hotel is named for Henry Melville Whitney, who was born in 1839 and founded the West End Street Railway Co., which preceded the Metropolitan Transit Authority and today’s MBTA. Whitney also founded the Dominion Coal Co. Ltd. and the Dominion Iron and Steel Co. of Sydney, Nova Scotia, according to a Wikipedia history. He was president of the Metropolitan Steamship Co., which linked Boston and New York City.
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