BOSTON – Boston Realty Advisors, the largest independent real estate brokerage in Massachusetts, represented the buyer of the recently and beautifully renovated Whitney Hotel on Charles Street in Beacon Hill in an off-market sale for $57 million.
The sale of the hotel, at 170 Charles St., closed last week. The sale price represented $876,000 per key.
"We have established a vast network of owners and investors that stretches globally and that includes Egeria Group, a private equity group based in Amsterdam," said Kevin Benzinger, Director of the Capital Markets Group of Boston Realty Advisors. “This asset represents a tremendous addition to Egeria’s U.S. real estate portfolio. We are excited to have represented them in this acquisition.”
The Whitney Hotel is a five-story, 65-room luxury boutique hotel at the Cambridge Circle entrance to Charles Street. The seller was Related Companies, which purchased the Whitney in 2016 and completed the first phase of renovation in 2019, reopening then. Work completed, and final finishes were completed this year.
The Whitney was revitalized and expanded from an existing hotel, at the Corner of Charles Street and Cambridge Street.
The sale was handled by Benzinger, Ryan McDonald, Leader of the Hospitality Division, and Jason S. Weissman, Founder and Senior Partner of Boston Realty Advisors.
The hotel is named for Henry Melville Whitney, who was born in 1839 and founded the West End Street Railway Company, which preceded the Metropolitan Transit Authority and today's MBTA. Whitney also founded the Dominion Coal Company Ltd. and the Dominion Iron and Steel Company of Sydney, Nova Scotia, according to a Wikipedia history. He was president of the Metropolitan Steamship Company, which linked Boston and New York City.