High-ranking corporate executives in the financial, tech, real estate and health care industries are well-represented in the initial round of buyers at 50 Liberty, the newly opened 120-unit luxury condo tower on Boston’s Fan Pier.
Executives at Alexion Pharmaceuticals, General Electric and Boston Properties are among those who have purchased multimillion-dollar units in the 14-story waterfront tower designed by Elkus Manfredi Architects and developed by The Fallon Co. of Boston.
Recent relocations of corporate headquarters to the Seaport District appear to have prompted several high-ticket purchases.
A legal entity listing Alexion Pharmaceuticals CEO Ludwig Hantson as an officer bought three units for a combined $8.5 million, along with a 12th-floor unit for $1.7 million. Alexion is moving its headquarters this year from New Haven, Connecticut to 121 Seaport, a new office building nearing completion just four blocks from 50 Liberty. A former Baxalta CEO, Hantson was named to the top job at Alexion in March 2017.
Former General Electric executive Jeffrey S. Bornstein closed on unit 8B on March 19 for $4.9 million and sold it on March 22 for nearly $5.3 million to SPBBR LLC, a corporation that lists San Francisco-based Seven Square Management as its manager. Seven Square shares the same San Francisco address as Iconiq Capital, whose clients include Facebook CEO Mark Zuckerberg and which recently bought an interest in Boston’s Taj Hotel.
Borenstein left his CFO position at GE in October, two months after John Flannery replaced Jeffrey Immelt as CEO. Another top GE executive, vice president Ann Klee, closed on a $2.2 million unit April 4.
Local real estate industry figures are well-represented among the first round of buyers, including Boston Properties’ regional market leader Bryan Koop, Davis Cos. Senior Vice President Gary Hofstetter and Gosder Cherilus, a former NFL lineman and managing partner for Eagle Development Partners. TV producers Tara Sandler and Jennifer Davidson, behind such shows as “House Hunters” and “Flip or Flop,” purchased a $3.2 million unit last week.
The heavy local presence echoes the buying patterns at the Fan Pier’s first condo tower, Twenty-Two Liberty, which opened in December 2015. New England Patriots owner Robert Kraft, Vertex Pharmaceuticals founder Joshua Boger and tech entrepreneur Paul English bought condos in the 109-unit complex.