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The Boston Real Estate BlogI am an independent real estate broker, focused on the residential real estate market in downtown Boston. |
Boston Commercial And Office Space Is In Big Demand
This has got to be the best real estate deal of the year.
The Boston landmark building that is home to Olives Restaurant [in Charlestown] has changed ownership for the second time in a year and a half.
Last week, the 36,000-square-foot property sold to Burlington, Mass.-based Compass Realty Associates for $11.5 million.
The seller, CBE Technologies Inc., purchased the building last February from the Davis Cos. for $5.9 million.
You read that right. The company that sold the property this year for $11.5 million bought it 18-months ago, for half that amount, or $5.9 million.
"Raises for everyone, and take the rest of the summer off!" said the company's CEO.
Source: City Square landmark building changes hands - Boston Business Journal
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