BOSTON– Colliers International has brokered the sale of 12 Hemenway Street in Boston for $4,750,000. Senior Vice President Leigh Freudenheim represented both the seller, Hostelling International Boston (HI-Boston), and the buyer, Hemenway Realty Ventures LLC.
HI-Boston, a non-profit organization that operates seven youth hostels throughout New England, will lease back the entire 22,000-square-foot building for approximately 18 months and continue to operate its hostel at the site. Hemenway Realty Ventures is currently in the process of determining the future use of the building for the period subsequent to HI-Boston’s occupancy.
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