A Denver real estate investment firm is the new owner of a parcel overlooking Boston’s Rose Kennedy Greenway that was marketed as a luxury condominium development site.
Northwood Investors paid just under $5 million for 149-151 Pearl St., which contains a 5-story, 7,500-square-foot office and retail building on a 1,807-square-foot parcel.
Up to 18,000 square feet of new development could be built on the site under existing zoning, according to marketing materials by Colliers International in Boston. The seller was a family estate that paid $170,000 for the property in 1980.
A message was left with Northwood seeking details on their plans.
Northwood also owns 230 Congress St., a 154,540-square-foot office building in the Financial District, and last year acquired the 120,000-square-foot Sears store at the CambridgeSide mall for $55 million.