Group Boston Real Estate (GBRE) brokered the sale of 240A Newbury Street

April 24, 2014 News

BOSTON, MA (GLOBE NEWSWIRE) — Group Boston Real Estate (GBRE), Boston’s premier luxury real estate agency, announced today that its president, Michael Carucci, brokered the sale of 240A Newbury Street and 41 Fairfield Street in Boston, Massachusetts for $14,575,000.

Located in Boston’s prestigious Back Bay neighborhood, 240A Newbury Street is home to the iconic Daisy Buchanan’s. Mr. Carucci represented the seller, JC Realty Trust, and identified the buyer, UMNV 240A Newbury LLC, a joint venture between UrbanMeritage and Novaya Real Estate Ventures, in the transaction.

“Michael has brought us many blue chip Newbury Street properties over the years. We are excited to acquire another Newbury Street asset and look forward to re-energizing and re-merchandizing this prominent corner,” commented Vin Norton, principal of UrbanMeritage.

“This was a time sensitive transaction with many moving parts, but it got done in less than 30 days,” said Mr. Carucci. “This sale allowed the Cimino family (seller) to capitalize on their long term investment and delivered a rarely available building to the buyer, UrbanMeritage,” commented Mr. Carucci.