Published 1 month ago

In 2005, this downtown office tower sold for $121.7 million. It just resold for $78 million. - The Boston Globe

Summary by Ground News

Boston-based developer Synergy Investments closed on a deal to buy 101 Arch St. for $78 million. It’s another example of declining values for office buildings as pandemic-era shift towards working from home solidifies. Falling property values could have troubling implications for the city”s $4.3 billion budget, which is largely funded by property tax revenue.

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Boston Globe

In 2005, this downtown office tower sold for $121.7 million. It just resold for $78 million. - The Boston Globe

It’s another example of declining values for office buildings as pandemic-era shift towards working from home solidifies, a change that has pushed vacancy rates in downtown office towers to their highest level in decades.

1 month ago·Boston, United States

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