Lots of changes coming to this neck of the woods!
Banker + Tradesman is reporting that a Connecticut developer has purchased the Greyhound bus garage located at 571 East First Street for $19.4 million! Wowza!
Stamford-based Twenty Lake Holdings acquired the property and received $24.5 million in mortgage financing from ConnectOne Bank on Jan. 24th.
According to the listing via Chusman + Wakefield, the 1.4 acre property was described as a “tremendous value-add and large-scale multifamily development” site and is zoned for 173,000 square feet of development by right. There is also a short-term lease with Greyhound.
The fact that this piece of property sold is really no surprise considering its location across the street from the 776 Summer St. project – aka the old Edison plant redevelopment.
Maureen Dahill is the editor of Caught in Southie and a lifelong resident of South Boston sometimes mistaken for a yuppie. Co-host of Caught Up, storyteller, lover of red wine and binge watching TV series. Mrs. Peter G. Follow her @MaureenCaught.
There goes my neighborhood as well as parking
I feel ya!