Back Bay Real Estate
is alive and well as it has seemingly always been. Perhaps one of
more recognizable buildings in all of Boston, the Apple Store
location at 815-825 Boylston Street in Bostons illustrious Back Bay
neighborhood just sold for a staggering $27.5 Million. The new
owner, Tribeca APL Boston LLC out of London displays just how
important showcasing ones Commercial Real
Estate property to the International Real
Estate community truly is. Rockland Trust also, it must be
shared, provided $18 Million in financing for the purchase of the
building.
At 21,348 square feet, this facility located directly across the
street from the Prudential Tower was now formally owned by Heritage
Legacy LLC. Astonishingly enough, the actual assessed value of this
distinctive glass facade building only came back with a value of
$7.1 Million, far less than the purchase price.
Back in 2006 a two story building formerly existed at this given
site which now no longer exists. However soon after and Apple set
up shop when at the time it was known as the largest Apple store
Worldwide back in 2008. Prior to the firm establishing themselves
here in the city, this building had to be initially approved by the
Boston Redevelopment Authority and the Back Bay Architectural
Commission to completely redesign the exterior to the contemporary
and open concept state that one can find it in today. On a final
note, the sale of the building of course by no means signifies that
Apple will no longer be a tenant at 815-825 Boylston Street, just
that the legal ownership of the address has now changed hands.
More Information: Boston Business
Journal