20 Hrs
Source:
The Boston Globe
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Motor Mart, once largest garage, now sold at discount
The Motor Mart Garage in Boston, once the world's largest parking structure, was sold for $89 million, a 45% discount from its previous sale price. The property, owned by CIM Group and approved for a future 20-story condo tower that was never built, was acquired by Related Beal and Freeport Equity. The sale highlights a trend of significant discounts in Boston real estate amid rising mortgage maturities and market adjustments.
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