Private Swiss Investor and Center Court Boston Plan Luxury Condo Tower for Tremont Street
- Jan 12, 2015
A new luxury condominium tower could replace a vacant office building located at 171 Tremont Street in Boston’s Midtown Cultural District.
Maurice Dabbah, a private real estate investor from Switzerland, teamed up with Center Court Boston LLC to redevelop the 17,750-square-foot building and recently filed a letter of intent with the Boston Redevelopment Authority. As reported by the Boston Business Journal, the developers plan to build a 355-foot tall tower that will include 31 luxury condominium units.
According to Banker & Tradesman, the luxury residential tower would rise at least 31 stories above ground, with each condominium unit taking up an entire floor.
The proposed development—which is next to Parkside Condominiums, a movie theater operated by AMC and a MBTA station—will be designed by Boston-based Elkus Manfredi Architects. Vanasse Hangen Brustlin, Inc. (VHB) will serve as civil engineer for the condominium tower.
The 4,400-square-foot lot and the existing building are valued at a combined $3.4 million, the Journal reports quoting Boston city records.
The existing four-story office building was constructed by Millennium Partners in the early 2000s as sales offices for the company’s various properties across Boston. Reportedly, Millennium acquired the property for $4 million in 1999 from Millennium Music LLC, an entity affiliated with Hammerstein Music & Theatre Company, Inc. In November 2011 the office property was transferred to MP Tremont Development Co. LLC, one of the companies under the Millennium Partners umbrella. In mid-2014, 171 Tremont Street was sold to Manhattan Development Corp. for $16.4 million.
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