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| One Faneuil Hall Square, Boston |
Boston’s One Faneuil Hall Square Under Agreement
By Joe Clements
An ornate building developed by architect Graham Gund is under agreement to a pair of New York investors, according to industry sources, with Robert Cayre and Alex Adjmi expected to pay approximately $23 million for One Faneuil Hall Square. The 7-story, 47,000-square-foot building overlooks the Hub’s Faneuil Hall Marketplace and was until last year fully occupied by trendy retailer the Limited.
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Founder Doyle Reportedly Leaving Hub Brokerage Firm
By Joe Clements
Veteran Boston commercial real estate broker Kathleen C. Doyle is stepping down from the Boston real estate services company she co-founded 15 years ago with partner Catherine H. Thompson, according to industry sources. Launched amidst the recession that lingered in the early 1990s, GVA Thompson Doyle Hennessey & Stevens survived to become among the area’s strongest independent operations, today offering a deep brokerage pool and coverage in both downtown and suburban markets.
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Longwood Towers on Sales Block, Conversion to Condos Said Likely
By Joe Clements
It has skirted the condominium craze for several cycles, but the time may have finally come for Longwood Towers in Brookline, with industry sources reporting that the 268-unit luxury apartment complex is being put up for sale in a campaign that will most likely be targeted at converters.
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Innovative Credit Scoring Adopted by MassHousing
By Jennifer Jope
In an ongoing effort to cater to consumers with nontraditional credit, MassHousing, a quasi-public agency that functions as the state’s affordable housing bank, has become the first lender nationwide to implement a new method of credit scoring. The pilot program, Anthem Score, was created by California-based First American CREDCO and is specifically designed to help mortgage lenders and investors better gauge the credit risk posed by borrowers with little or no credit history, or income and ability to repay that is difficult to assess.
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Redevelopment Is Grist for Easthampton Mills
By Aglaia Pikounis
Years of efforts to revitalize empty mill buildings and housing in Easthampton haven’t gone unnoticed. The western Massachusetts city is seeing an influx of home seekers and entrepreneurs from surrounding communities and outside of the Bay State who view it as a more affordable real estate investment alternative.
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Freddie Puts ‘Mission-Centric’ Focus on Affordable Housing
By Jennifer Jope
Getting more “mission-centric,” Freddie Mac will focus its attention on affordable housing this year. In Boston, where housing prices are high, rents continue to increase and workforce housing is hard to come by, one Freddie Mac executive assured local industry professionals that the government-sponsored enterprise will continue to support affordable housing initiatives.
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Suburban Sector in Recovery Despite Uneven Start to 2005
By Joe Clements
The suburban Boston office sector has finally “turned the corner” after three sparse years, but short-term gains will be measured, CBRE/Whittier Partners principal Michael F. Ripp told a commercial real estate gathering last week. Preceding the annual bus tour sponsored by the National Association of Industrial and Office Properties, Ripp said unsteady job growth and disappointing first-quarter results tempered a banner 2004, in which suburban leasing reached 4.6 million square feet of net absorption.
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