South Boston Commercial Property Sells for $15.9 Million, Signaling Market Resilience

In a notable real estate transaction, Boston Realty Advisors facilitated the sale of 416 West Broadway in South Boston for $15.9 million, marking a substantial appreciation in property value since its previous purchase in 2015.

The three-story, 25,835-square-foot building, situated in a prime commercial corridor, was sold by Core Investments to Egeria Real Estate Investments, a firm with properties across the United States and Europe. The property's sale stands out in the current real estate market, which has been experiencing significant challenges.

Originally purchased for $1.8 million in 2015, the building has undergone significant transformation. Fully renovated in 2018, the historic 1910 brick and beam structure maintains its industrial architectural character while offering modern amenities. Its strategic location on West Broadway, with proximity to popular restaurants and shops, contributes to its appeal.

The property hosts a diverse range of tenants including Ethos, Caffe Nero, Verizon, Karve Spa, and Barre Groove, indicating a robust and varied commercial ecosystem. Kevin Benzinger, Managing Director of Capital Markets for Boston Realty Advisors, highlighted the property's exceptional quality and attractive geographic positioning.

With a rich historical background, the site previously housed a residential building in the late 19th century and later served as Carey Furniture's location until 1975. Its transformation reflects South Boston's ongoing urban revitalization and commercial development.

The substantial price increase suggests potential resilience and ongoing investor confidence in South Boston's commercial real estate market, despite broader economic uncertainties. For investors and real estate professionals, this transaction provides insight into potential opportunities in strategically located, well-maintained urban properties.