A developer that bought a vacant Boston office building last fall for $30 million is proposing to convert the waterfront property into a hotel.
The 400 Atlantic Ave. property includes a 6-story, nearly 100,000-square-foot office building that’s been vacant since 2023, when law firm Goulston & Storrs relocated to One Post Office Square.
Chahine Investment Corp. plans to renovate the building to accommodate a hotel and restaurant, including a waterfront deck, according to a notification letter submitted by Chahine Investment Corp. to the Boston Planning Department.
A Pinecrest, Florida real estate corporation managed by investors Jacques and Agathe Chahine bought the vacant property in September for $30 million.
Chahine Investment Corp. has converted buildings in France and Portugal into luxury hotels, according to a Boston Business Journal report.
Goulston & Storrs occupied the entire building for decades before opting to relocate its headquarters in 2023.
The hotel project complies with zoning regulations, according to a letter submitted by attorney Jared Eigerman of Reuben, Junius & Rose LLP, and will comply with the requirements of Boston’s coastal flood resilience overlay district enacted in 2021 to reflect climate change’s effects on waterfront properties.