City Realty has recently acquired its second building in the bustling Leather District of Boston. The six-story, 72,000-square-foot property located on South Street was purchased for $13 million from an affiliate of MC Real Estate Partners. This marks a significant decrease in price compared to its previous sale for $27.5 million back in 2016.
This acquisition is just one example of City Realty’s strategic investments within the Boston area. In fact, they had previously purchased another office building on Lincoln Street eight months ago at a significantly reduced price compared to its original sale value in 2015.
MCRE currently holds three other similarly sized office properties within their portfolio: two located on Avenue de Lafayette and Chauncy Street respectively and one situated on Massachusetts Avenue in Cambridge.
Overall, this recent transaction showcases City Realty’s expertise and success as they continue to expand their presence within the downtown market at competitive prices.
