A development team’s proposal would replace a Tremont Street office building, previously owned by the developer of Millennium Tower, with a 31-unit luxury boutique condo tower.
On Monday, 171 Tremont LLC filed a letter of intent with the Boston Redevelopment Authority to build the boutique condo tower, reports the Boston Business Journal. Plans would replace the 17,752-square-foot office building that currently sits adjacent to another condo development and the AMC Loews Boston Common movie theater, on the corner of Avery Street.
The existing office building, plus the 4,400-square-foot lot it occupies, has an assessed value of $3.4 million, according to City records. Millennium Tower developer Millennium Partners, reports the BBJ, purchased 171-172 Tremont St. in 1999, for $4 million. Millennium Partners transferred the deed to another one of its entities, MP Tremont Development Co. LLC, in November 2011.
In June, the building was sold to Manhattan Development Corp. for $16.4 million, the BBJ reports
The proposed project’s principal owner and developer, who hales from Switzerland, will partner with two principals of Center Court Boston LLC. Architecture firm Elkus Manfredi, in tandem with fellow Boston-based architect David L. Rafferty, who will design the tower.
171 Tremont LLC plans to file a project notification form with the BRA in a month or so, reports the BBJ. No cost or timeline has been attached to the proposed project.
Screengrab via Google Maps
