W Boston Hotel Sells For $89.5M
Boston W Hotel is sold for an estimated $89.5 million. According to Court documents, the buyer is an investment firm from Maryland by the name of Pepplebrook Hotel Trust, and the seller is the developer of the property, SW Hotel Venture LLC. However, it is important to mention that only the hotel part of the property is sold. The Hotel will keep the name: W Hotel Boston, and takes the first 15 floors of the iconic glass tower at 110 Stuart Street. The W hotel Boston has 235 hotel rooms, a restaurant, a lounge, and a spa.
The Condos will remain under the ownership of the developer’s branch SW Boston. There are 123 Luxury condos and residences starting from the 16th floor. The Luxury condos have their private entry and concierge, but share many of the hotel’ s amenities and services. A few weeks ago, a bankruptcy judge ruled in favor of SW Boston (and against Prudential Insurance who provided $192 million to build the project) allowing them more time to reorganize their finances.
The W Boston Luxury Condos and Residences have experienced a sizable increase in the sale of their luxury condos in the last few months. Thus, with this new influx of cash, buyers can rest assured that the W Boston Residences are here to sell by the developer and now is the time to scoop up some great deals in the building before prices go up, as the Boston luxury real estate market is showing healthy signs across the Back Bay.
Should you need more information about the W Boston luxury Condos, or want to schedule a private viewing, please contact Boston Luxury Residential or call C.H. Naamad at 617-407-9740.
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