Newmark Completes $76.5 Million Loan Transfer and Sale of 179 Lincoln Street in Boston, Massachusetts

April 2, 2024 9:00 AM

Newmark announces the $76.5 million loan transfer and sale of 179 Lincoln Street, a newly repositioned, 221-474-square-foot office building that offers an unparalleled “gateway” location in Downtown Boston, Massachusetts. Newmark Co-Head of U.S. Capital Markets Robert Griffin, Executive Vice Chairman Edward Maher, Vice Chairmen David Douvadjian Sr. and Matthew Pullen, Executive Managing Directors James Tribble and Timothy O’Donnell, Senior Managing Director Samantha Hallowell and Associate Director William Sleeper of the firm’s Boston Capital Markets Group represented the undisclosed seller and procured the buyer, Synergy.

David Greaney, CEO of Synergy, commented, “179 Lincoln Street offers a strategic location, combined with its rich history and modern amenities, making it an exceptional asset regarding the tenant experience. As we continue to expand our Boston portfolio, we look forward to continuing to deliver outstanding value to our tenants and stakeholders through this acquisition.”

179 Lincoln Street’s first-class repositioning merges its historical Beaux-Arts exterior and brick-and-beam interior with fully modernized tenant spaces, common areas and on-site amenities. Some of its most notable features include its reconstructed lobby and five-story atrium, expanded common areas, fitness center, 53 below-grade valet parking spaces and generous bicycle storage.

“179 Lincoln Street offers a unique environment as a first-class boutique brick-and-beam asset in a submarket dominated by high-rise towers,” said Maher. “Furthermore, its high-quality creative office profile is virtually unrivaled among Downtown Boston’s already-limited brick-and-beam sector.”

179 Lincoln Street offers a premier “gateway” location in Downtown Boston. Comprising an entire city block along The Rose Fitzgerald Kennedy Greenway, the asset is situated steps from South Station and directly across from on/off ramps for Interstates 90 and 93.

About Newmark
Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries (“Newmark”), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Newmark’s comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform’s global reach with market intelligence in both established and emerging property markets, Newmark provides superior service to clients across the industry spectrum. For the year ending December 31, 2023, Newmark generated revenues of approximately $2.5 billion. Newmark’s company-owned offices, together with its business partners, operated from approximately 170 offices with 7,400 professionals around the world. To learn more, visit nmrk.com or follow @newmark.

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