News: Front Section
Posted: June 12, 2008
Samuels & Assoc. closes on $8.5 million conjoined buildings in Fenway
Samuels & Associates has closed on a package of conjoined buildings where Boylston St. and Brookline Ave. meet. The $8.5 million purchase gives Samuels control of a triangular site, having previously secured several connecting buildings on the parcel that abuts the firm's Trilogy residential high-rise.
Fueled by an $11.2 million loan from KeyBank, Samuels affiliate Fenway Ventures Point Properties LLC purchased 186-200 Brookline Ave. and the adjoining 1395-1399 Boylston St. The Brookline Avenue asset is home to D'Angelo's Sandwich Shop, and fronts a major intersection at Park Dr. leading into the Longwood Medical Area and onto the Jamaicaway. The acquired properties are across from the former Sears warehouse.
The seller of the Fenway buildings is Riverside Properties Inc. of Wellesley.
The $200 million Trilogy was the company's first major undertaking in the Fenway, as Samuels acquired the site for $8 million in 1999 and constructed 581 high-end residential units in three towers of 12, 15 and 17 stories. Samuels sold 171 of the units to Harvard University for graduate students.
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