Auction: Boston, MA - Investment/Development Opportunity: Prime Back Bay Office/Retail Building
Boston, MA (PRWEB) April 12, 2009 -- JJManning Auctioneers is proud to offer this 163,770+/-sf, 11-story landmark property known as the "New England Power Building." It was originally designed and the foundation engineered for a much taller structure, offering rare potential for upward expansion. The Art Deco building features 12,500+/- sf. of prime grade-level retail space, 5 elevators and a parking garage for 45+/- cars. Floors 5-11 and half of floor 4 are gutted to facilitate new tenants or redevelopment for residential, hotel or other uses. The building is in a prime location next to The Copley Plaza and close to I-90, I-93 and all Copley Square amenities.
AUCTION: Tuesday, April 28th at 11am on-site
SITE AREA: .46+/- ac. (20,101+/- sf.)
YEAR OPENED: 1937
RENOVATIONS: 1989 with all new double-glazed windows, HVAC system & facade work in 1999
EXTERIOR: Granite/limestone (street level), Art Deco raised concrete & metal panels (floors 2-3), Brick above
FOUNDATION: Concrete wall with 2 level slab construction & reinforced steel columns
LEVEL 1 - 14,888+/- sf.
LEVEL 2 - 18,334+/- sf.
LEVEL 3 - 18,337+/- sf.
LEVELS 4 to 11 - 13,903+/- sf. ea.
LOWER LEVEL - Includes 987+/- sf. storage
PARKING: 2-level, 45-space underground garage
ELEVATORS: (5) 2,500 lb. - (4) high rise passenger & (1) freight
FIRE: Multi-zone panel, hard-wired smoke & heat detectors, full-coverage wet sprinkler system
Terms of Sale: 5% certified deposit of which $200,000 in certified or bank check at auction & remainder within 5 days. Balance in 45 days. Other terms, if any, announced at the sale. All information from reliable sources believed correct, but not guaranteed. Buyers shall rely entirely on their own judgment. JJManning Auctioneers is acting exclusively on behalf of Seller in this transaction.
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