Image courtesy of J.J. Manning Auctioneers
A foreclosure auction is scheduled for a 7-acre triangle of land in South Boston that’s been pursued by multiple developers in recent years.
J.J. Manning will seek offers for 10 parcels located on Dorchester Avenue, D Street and Old Colony Avenue on March 17.
The most recent team seeking to develop site was a partnership of New York City-based Extell Development and JT. Magen & Co., which teamed up with Boston-based HYM Investment Group as development advisor on the potential project.
The mortgage on the foreclosure parcels is controlled by DOT Development LLC, an affiliate of New York-based JT Magen & Co.., according to a filing at the Suffolk County Registry of Deeds submitted last week.
The parcels contain a mixture of warehouse, self-storage and light industrial buildings, but have been envisioned for redevelopment for higher-renting uses for nearly a decade. The area was designated for residential, office and lab projects under the PLAN: Dot Avenue planning study.
In 2024, the current ownership team acquired two parcels including a Dunkin’ Donuts and a commissary for franchisees, giving them control of the entire triangle of land. Those parcels – located at 370 Dorchester Ave. and 75 Old Colony Ave. – are being offered separately with an exclusive option to purchase for the buyer of the other parcels, according to a notice by J.J. Manning Auctioneers.
The auction is scheduled for 11 a.m. on March 17 at the site. All 10 foreclosure parcels will be sold in entirety.
Messages were left with Extell Development, JT Magen & Co. and HYM Investment Group. In 2024, HYM said in a statement it saw “great potential in this area of South Boston” to bring a new mix of uses to the neighborhood.
The Boston Planning & Development Agency approved several major projects in the neighborhood that have stalled in the real estate downturn.
In 2021, the BPDA approved National Development’s 1.1 million square-foot Iron Works mixed-use project. Another delayed project along the west side of Dorchester Avenue, Core Investments’ On the Dot, was approved for 11 buildings and nearly 3.8 million square feet of development.
