 (2).jpg)
News: Front Section
Posted: May 15, 2014
Carucci of Group Boston Real Estate represents JC Realty Trust in $14.575 million sale
According to Group Boston Real Estate (GBRE), one of the city's premier luxury real estate agency, its president, Michael Carucci, brokered the sale of 240A Newbury St. and 41 Fairfield St. for $14.575 million.
Located in the city's Back Bay neighborhood, 240A Newbury St. is home to the iconic Daisy Buchanan's. Carucci represented the seller, JC Realty Trust, and identified the buyer, UMNV 240A Newbury LLC, a joint venture between UrbanMeritage and Novaya Real Estate Ventures, in the transaction. "Michael has brought us many blue chip Newbury Street properties over the years. We are excited to acquire another Newbury Street asset and look forward to re-energizing and re-merchandizing this prominent corner," commented Vin Norton, principal of UrbanMeritage. "This was a time sensitive transaction with many moving parts, but it got done in less than 30 days. This sale allowed the Cimino family (seller) to capitalize on their long term investment and delivered a rarely available building to the buyer, UrbanMeritage," said Carucci.
Tags:
Front Section
MORE FROM Front Section
Front Section
McEvoy of The Conrad Group brokers $2.9 million sale of industrial building
Hingham, MA The Conrad Group has brokered the sale of 55 Research Rd., South Shore Park. The property consists of a 20,340 s/f single story manufacturing building on two acres of land.
Columns and Thought Leadership
The doctor is in: How medical leases differ from retail and office spaces - by Brian Cafferty
As healthcare facilities, often referred to as “Doc in a Box” clinics, increasingly move into traditional retail spaces, landlords are more frequently leasing to medical tenants. Unlike standard retail or office leases, medical facilities come with a unique set of considerations that must be carefully addressed to ensure a successful tenancy.
It’s time to get creative with closed college campuses - by Christian Koulichkov
Facing higher costs, shrinking enrollments, reduced state funding and severe demographic headwinds, many colleges and universities in New England and the Northeast are fighting for survival. The latest to lose the battle is the 150 + year old University of the Arts in
5 Questions to ask when choosing a real estate broker - by Elizabeth Perez Barlett
>They say, “April showers bring May flowers,” but this season may bring more movement in the housing market as springtime is one of the most popular times for home buying and selling. Although spring is one of the strongest seasons for the residential market, it may not be all rosebuds and butterflies if you don’t have the right advisors.
Investing in a falling rate environment - by Harrison Klein
Long-term interest rates have fallen by 100 basis points, and the market is normalizing. In December of 2022 I wrote an article about investing in a high interest rate, high inflation market. Since then, inflation has cooled off, and the Fed has begun lowering their funds rate.
