At the corners of Stuart and Dartmouth streets is a very attractive, 11-story, Art Deco-style mid-rise.
Several years ago, a developer bought the building with the intent to build over 100 condos. The location was seen as prime due to its proximity to the South End and Back Bay, public transportation, and the Mass Turnpike. The developer approached Tracey Campion to market the units to upscale buyers looking for boutique homes.
It was not to be. The developer became ensconced in a legal battle, then the market turned. It was office space at one point; now, it is mostly empty with a HealthWorks for Women its only upper-floor tenant.
Banker & Tradesman reports that the property is now going up for sale for about half what it traded hands at, just five years ago.
Jones Lang LaSalle is launching a marketing campaign to sell 441 Stuart St., an 11-story Art Deco building in Boston’s Back Bay, as the building’s owner, Corus Bankshares, fights for its life.
“We have a full expectation of achieving a price in excess of million,” Mike Smith, a managing director in Jones Lang LaSalle’s capital markets group, told Banker & Tradesman.
The new owners could continue with plans for condos or convert it into a hotel.
Are you listening, Fairmont Copley Place??
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