Key facts
- A 100,000-square-foot office property at 400 Atlantic Ave. in Boston has been listed for sale.
- The property was acquired by JAJ Investment Group in 2024 for $30 million.
- Previous plans proposed converting the building into a 113-room boutique hotel with restaurant and bar space.
- The development plans had not yet received approval from the Boston Planning Department.
- The property is being marketed as suitable for hotel, residential, and office development.
A vacant office property on Boston's waterfront, previously slated for a hotel redevelopment, has been put up for sale by its owner, JAJ Investment Group. The Luxembourg-based firm listed the 100,000-square-foot property at 400 Atlantic Ave. through CBRE, marketing it as a "generational value-add opportunity" suitable for hotel, residential, or office developers.
JAJ Investment Group acquired the property in 2024 for $30 million, a price significantly lower than what previous owner UBS paid. The firm had filed plans in January to convert the six-story building, originally constructed in 1890 and renovated in 1984, into a 113-room boutique hotel featuring approximately 7,000 square feet for a restaurant and bar. However, these development plans had not yet received approval from the Boston Planning Department, and construction was not expected to begin as scheduled in December.
The listing highlights that the property is offered "free and clear of existing debt" and is situated within walking distance of South Station. Notably, the property is exempt from the state's Chapter 91 law, which typically protects public access to waterfronts and requires public benefits from such projects. The owner is expected to maintain a 15-foot walkway on the waterfront side. JAJ Investment Group has a history of similar redevelopments in Europe, including hotel conversions in Lisbon and Paris.