156 State Street, Boston

Services Provided:    Investment Sales Services
Project:   Office Condominium
Offered for Lease with an option to buy- Entire Fifth floor
Lease Price $42.05/SF for a 5 yr. term- Sales price $735,000, or $420.48/SF
The Challenge:
An investor with limited experience in commercial real estate purchased this 5th floor penthouse unit at 156 State Street, Boston, for a price well below its market value. The existing configuration of the space was heavily built-out with private offices, and the space was tired looking and it had not been renovated in a few years. The space had recently been vacated. The investor’s objectives were to either hold and collect a steady cash stream on the investment or to sell the property and reinvest the profit.