NGKF Capital Markets arranges $6.25 million sale of retail condominium

165 Newbury Street - Boston, MA

Boston, MA NGKF Capital Markets has completed the sale of the 165 Newbury St. retail condominium to 165 Newbury Street Owner LLC for $6.25 million. Equating to a value of $5,952 per s/f, the transaction sets a new retail pricing record for Newbury St., a globally-significant shopping and dining destination. The NGKF Boston Capital Markets team comprising U.S. head of capital markets Robert Griffin, executive managing director Geoffrey Millerd and associate director Paul Penman oversaw the transaction of the offering on behalf of Frazer Capital.

Comprising 1,050 s/f of retail space and a 350 s/f patio, the 165 Newbury St. retail condominium is net leased to premier coffeehouse Starbucks  in its entirety on a long-term basis.

“Combining a prominent, high-traffic retailer with an exclusive address along iconic Newbury Street, it is no surprise that the 165 Newbury St. retail condominium achieved record pricing,” said Penman. “Situated directly in the heart of this prestigious retail corridor, 165 Newbury St. boasts an irreplaceable location within a major gateway city.”