John Hancock Life has acquired The HarborView at the Navy Yard, located on Boston Harbor in the historic Charlestown Navy Yard, for $149.25 million. The 11 story mixed use building features 10,000 square feet of retail along with 224 units that had originally been slated for condos. The project came online during the crash in the market in 2007. The asset is located on First Avenue on the waterfront and is a neighbor of the USS Constitution, the oldest commissioned warship in the US Navy. The seller, Prudential Financial, foreclosed on the building in 2008. “HarborView at the Navy Yard is a solid addition to the John Hancock Real Estate portfolio and brings our residential footprint in the Boston area to nearly 1 million square feet,” said Kevin Adolphe, President and CEO of John Hancock Real Estate. “We have a long history in Boston, so we are particularly pleased to make this acquisition and highlight our continued commitment to the City.”
