85 Devonshire | Class A Office | Approved Resi Conversion Opportunity | Boston CBD

Highlights:

• Prime Boston CBD Location: Situated in the heart of Boston’s Financial District, 85 Devonshire offers unparalleled access to major financial institutions, public transit, and premier amenities.
• Multiple Paths to Value Creation: Office Stabilization / Office-to-Residential Conversion.
• Tax Incentives for Office-to-Residential Conversion: Unique approval in place allowing conversion from office to residential use, unlocking significant value-add potential in a high-demand market.
• Historic Architecture with Modern Upgrades: Built in 1901 and thoughtfully upgraded, the property blends timeless architectural character with contemporary systems and design.
• Generous Floor Plate and Size: The offering features a 91,506 square foot office condo unit with ideally sized floor plates for both flexible office layouts and residential unit configurations.
• Strong Market Fundamentals: Located within a thriving urban core with sustained demand for both office and residential assets, supporting stable income and appreciation potential.

Description:

Auction Event: June 15-17 | Hosted By: Apex Commercial Exchange

CBRE, in partnership with Apex Commercial Exchange, is pleased to present an exceptional investment opportunity to acquire 85 Devonshire, a distinguished Class A office asset located at 85 Devonshire Street in the heart of Boston’s Financial District. The offering features an 91,506 square foot office condo that is fully vacant, presenting future ownership tremendous value-add upside with the opportunity to stabilize the office operations or look to take advantage of the City of Boston's office to residential conversion program, which provides a fast-track permitting process and significant tax incentives.

Originally constructed in 1901, 1908, 1920 and extensively renovated in 2015, 85 Devonshire is comprised of three existing and adjoining 6 to 11 story buildings, totaling 91,506 square feet of office space. The Property received approvals by the BPDA in April 2024 and ZBA in August 2024 to convert floors 2-11 into 95 residential units.

Located at the center of Boston's Financial District, the Property sits at the corner of Devonshire Street, Washington Street, and Water Street, and is surrounded by countless shopping, dining, lodging, historical landmarks, and public transportation options. As a testament to the location, 85 Devonshire has a walk score of 99 out of 100 and a transit score of 100 out of 100, providing a 24/7 urban lifestyle.

The Property is located steps away from each of the MBTA Orange Line, Red Line, Green Line, and Blue Line, and a short walk to both South Station and North Station, offering bus, Commuter Rail and Amtrak services. The Property is also well served by highway access with Interstate 90 and Interstate 93 on-ramps just 1/2 mile away and Logan International Airport within a short drive.

All bidders must register with Apex Commercial Exchange to participate in the auction event.

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