Newmark sells 63 Bay State St. for $6.225 million - 7,401 s/f office asset

Boston, MA Newmark has completed the $6.225 million sale of 63 Bay State Rd., a 7,401 s/f office asset located in the Fenway-Kenmore neighborhood of the city.

Newmark co-head of U.S. capital markets Robert Griffin, executive managing director Michael Byrne, senior managing director Michael Greeley and associates Joseph Alvarado, George Demoulas and Casey Valente of the firm’s Capital Markets and Private Capital groups represented the asset’s private seller and procured its institutional buyer.

A four-story asset that was originally developed as a single-family townhome, 63 Bay State Rd. features a mix of restored historical details and modern upgrades. The property was operated as a family office for previous ownership and delivered vacant to the new owner.

“We congratulate all parties involved in this successful transaction and are proud to demonstrate the power of the Newmark platform,” said Byrne.

63 Bay State Rd. is located adjacent to graduate housing, education and research facilities for Boston University, a top-ranked private college that enrolls 33,000+ students. It is further situated within walking distance of Kenmore station, a key transit hub, and surrounded by a mixed-use environment that is anchored by Fenway Park, the home of the Boston Red Sox.