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Precariously balanced Dewey Square building goes for $139 million

By adamg on Tue, 05/03/2016 - 1:55pm

Bldup reports the sale of 175 Federal St. to a German investor.

Neighborhoods: 
Downtown
Topics: 
Business
Free tagging: 
Dewey Square


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Comments

By anon on Tue, 05/03/2016 - 2:02pm.

The side of it that doesn't face the open plaza creates one of those little shaded "cranny" almost "alley" type areas that I always liked about the city but which aren't so popular now with people inclined towards wide open space, green space and everything connected to everything else.

By anon on Tue, 05/03/2016 - 2:53pm.

If it gets demolished a well thought out controlled implosion could set a world record for the largest dreidel spin ever!

By johnmcboston on Wed, 05/04/2016 - 2:46pm.

Interesting proposition. Is it worth tearing down a 17 story building to build a 40-60 story building in it's place?

By Suldog on Tue, 05/03/2016 - 4:37pm.

Is that The Pregnant Building's baby daddy?

Suldog
http://jimsuldog.blogspot.com

By Stevil on Tue, 05/03/2016 - 5:31pm.

The business community always says they are over taxed because the tax formulas make them pay a premium under a system called classification. What they don't tell you is that the assessment formulas put their values at 40-60% of their resale value while reaidential properties are assessed about 90% of resale value. Net net everyone is taxed about the same relative to actual value of their properties. Not surprisingly, this building was assessed at $63 million, almost exactly half the retail price.

Hope some city councilors or their staff are paying attention the next time the BMRB tells them how unfair the system is.

By anon on Wed, 05/04/2016 - 11:37am.

until this FY, residential property in Boston was not assessed anywhere near 90% of value. It was more like 60 to 75%.