News: Front Section
Posted: March 20, 2020
The Dartmouth Co. executes $9.25 million sale in Bay Village to New Boston Ventures
Boston, MA The Dartmouth Company has completed the sale of 132 Arlington St. located in the city’s historic Bay Village neighborhood. The Dartmouth Co. team led by David Smookler and Peter Considine exclusively represented the seller to close the transaction at a sale price of $9.25 million for the 14,180 s/f of currently leased surface parking. The buyer, New Boston Ventures, is a South End based developer who pride themselves on innovative and high-quality projects including Boulevard on the Greenway, The Lucas, The Modern, and the Old Salem Jail. The seller, NAI Holdings Entertainment, LLC is an affiliate of National Amusements, Inc., which is a privately-owned theater and mass media holding company based in Norwood, Mass.
The Dartmouth team said, “Along with the National Amusements team, we had identified the potential opportunity to monetize the 132 Arlington St. which was no longer core to our client’s operations. The level of interest from high quality buyers with creative plans for the development of this site was impressive. We are excited for the New Boston Ventures team to execute a first-class project on the site.”
Supporting the efforts at 132 Arlington St., The Dartmouth Co. worked with Converge Ventures (CNVRG), an in-house multi-family real estate services team. This collaboration provided exposure, pertinent data and insight to a wide array of commercial and residential, investors, developers, and businesses operators.
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