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.
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