Stuart Shiff Of DivcoWest Acquires Office Building From Stephen A. Schwarzman Of Blackstone For $125M

The office building located at 399 Boylston Street in Boston, MA, spans 200,000 square feet. It was sold for $125,000,000, resulting in a price per square foot of $625. This 13-story asset is situated in Boston’s Back Bay, a notable area in the city's office market.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $125,000,000
• Buyer: Stuart Shiff - DivcoWest
• Seller: Stephen A. Schwarzman - Blackstone
• Market: Boston, MA
• Square Footage: 200,000
• Price per Square Foot: $625

This transaction represents a significant activity in the Boston office market, as Blackstone has sold the property for slightly above its previous acquisition price of $117,000,000 in 2014. The deal highlights the involvement of key figures in the commercial real estate industry, particularly Stuart Shiff, who leads DivcoWest, and Stephen A. Schwarzman, the CEO of Blackstone.