Synergy Investments has acquired the leasehold interest rights of Boston’s Old City Hall for $30.1 million. The 83,700 square foot mixed use building is located in the heart of downtown Boston at 45 School Street. Designed by Gridley J. F. Bryant & Arthur Gilman, the building was constructed in 1865. The property was vacated by the City of Boston in the mid-1960s, avoiding demolition when it was completely renovated in 1970. CBRE/NE’s Capital Markets experts Dave Pergola and Brian Doherty represented the seller, Architectural Heritage Foundation. The building receives over 500,000 visitors a year.
“Synergy Investments is pleased and proud to add one of the finest and most historically significant assets in the City of Boston to our portfolio,” noted Dave Greaney, President of Synergy Investments. “We appreciate the importance of the property to the residents of the City of Boston, and look forward to enhancing both our tenants’ and the public’s experience.”
