Boston Realty Advisors successfully brokered the sale of 416 West Broadway, a three-story commercial property in South Boston, for $15.9 million to Egeria Real Estate Investments. The sale stands out in the current depressed real estate market, representing a substantial increase from the property's 2015 purchase price of $1.8 million.
The 25,835-square-foot brick and beam building, originally constructed in 1910 and fully renovated in 2018, features multiple tenants including Ethos, Caffe Nero, Verizon, Karve Spa, and Barre Groove. Its location in the heart of South Boston's main retail corridor was a key factor in attracting the buyer.
Kevin Benzinger, Managing Director of Capital Markets for Boston Realty Advisors, highlighted the property's exceptional quality, emphasizing its physical attributes, geographic positioning, and diverse tenant mix. The sale represents a notable achievement in a challenging commercial real estate environment, demonstrating potential opportunities for strategic property investments.
With a rich historical background, the property previously housed Carey Furniture and served various commercial purposes since the late 19th century. Its proximity to popular restaurants, shops, and The Mezz apartments further enhances its value and appeal in the South Boston market.
