Ori Ron, Noam Ron And Francis J. Greenburger Acquire Retail Building In Boston For $13M

The property asset involved in this transaction is a vacant retail-and-office building located at 399 Washington Street, Boston, MA. The asset encompasses a square footage of 76,000 and has a sale price of $13,000,000, equating to a price per square foot of $171. The property is situated in the Downtown Crossing area.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $13,000,000
• Square Footage: 76,000
• Sale Price per Square Foot: $171
• Buyer: Ori Ron & Noam Ron - Hudson Group; Francis J. Greenburger - Time Equities Inc; Evan Papanastasiou
• Seller: Wells Fargo

This deal was characterized by the involvement of multiple parties, including Hudson Group, Time Equities Inc., and Evan Papanastasiou’s firm. The transaction reflects a significant decrease from its previous valuation, having sold for $63,000,000 in 2017. Following the acquisition, plans are in place to reposition the property for retail on the lower floors and offices above.