This isn’t breaking news, but there hasn’t been much buzz about these listings since they went on MLS last week. There was a fair about of talk in the springtime on Boston.com, The Herald and the Boston Business Journal. They were listed in MLS last week so I thought I would do a little research on the property because this is an amazing opportunity if the price is right. This portfolio is comprised of 4 different buildings and are also being sold separately. The buildings are 25 Beacon Street, 6 & 7 Mount Vernon Place and 39-41 Mount vernon Street. All together they are asking 47 Million and the total amount of square footage is around 70,000sf.
Each of the buildings are being sold individually as Well. 25 Beacon Street , which is located RIGHT next to the State House is listed at $19,000,000. 39-41 Mount Vernon Street is being listed at $15,500,000 and lastlly, 2 buildings, 6 & 7 Mount Vernon Place is listed at $12,500,000. All of these are very large buildings and I think the options for development are very vast (I say that without seeing them yet).
These buildings are all owned by Unitarian Universalist Association (UUA) and houses their 2 offices and guesthouses in these buildings. According to their website, they are planing to move their headquarters to the innovation district at 24 Farnsworth Street and are moving due to the lack of a modern environment and that it would cost nearly $10 million to do the renovations according to the BBJ.
I can’t wait to see what happens to these buildings. Rumor on the street is that the State has there eyes on 25 Beacon, which makes sense since it is literally right next to the State House. I was also talking to a friend who said 25 Beacon would make a wonderful Governor’s Mansion. I AGREE!!! John Hancock used to live at 30 Beacon and what a great way to bring back the Governor’s Mansion to that location. Do it Massachusetts!!
I hear they are doing a sealed bid offer by early October, but I am looking more into this. Not sure if these properties will end up going for 47 Mill (my guess not), but I did find it funny that one of the trustees on the UUA website quotes ” The UUA has been advised that selling its Beacon Hill properties could fetch between $20 and $30 million.” ……We will have to wait and see.
Photos are from MLS and the properties are listed with Boston Realty Advisors.