Executive Summary

903 Boylston Street is a 7,471 square foot, single-tenant urban retail gem in Boston’s Back Bay. It’s positioned on one of the Back Bay’s most exclusive thoroughfares and at the core of the recent developments and remodels that connect everything this dynamic neighborhood has to offer. This 100% occupied asset is leased at significant discount to market and lends itself well to all of the qualities and attributes of an institutional quality asset: quality, stability, financial growth, accessibility and area amenities.

The quaint Victorian style architecture is well demonstrated throughout this asset, allowing for a visually appealing building with an open and airy entrance and ornate interior design. The building was originally constructed as a five-story brownstone, presenting investors the potential to add additional levels to the property. 903 Boylston Street has been home to Lir Restaurant since 2003 on a below market lease expiring in 2018, with one 5-year option to renew at fair market value.

903 Boylston Street represents an ideal opportunity for investors to acquire a quality asset located within one of the most desirable retail destinations in the country.

Investment Highlights

Value-Add Investment Opportunity

With the current below market lease expiring in 2018, the property offers investors significant upside through net operating income growth in leasing to a single tenant at below market rent. The new owner will be able to take advantage of a 120% NOI increase in re-leasing the space at market rent.


High Barriers-to-Entry

Boston is one of the strongest real estate markets in the country. Retail sales on Boylston Street and Newbury Street have consistently supported the retail rental rates that compare to similar markets. Located in one of the most supply-constrained markets, 903 Boylston Street benefits from the unique retail synergy created by its position between high-end Newbury Street and the Prudential Center which creates a stable and desirable investment.


Rare Single Tenant Asset

As area retailers struggle to find flagship store space, 903 Boylston Street is ideally positioned to take advantage of the lack of single tenant options in the Back Bay. The building’s street level access and sizable floor plates allow the new ownership to capitalize on the opportunity to attract a high-quality single tenant retailer or restaurant.


Unmatched Location

903 Boylston Street is located on the latter end of Boylston Street and directly across from the Shops at Prudential Center and the Hynes Convention Center, which has close to 200,000 attendees per year. The MBTA designates three separate T stops that service the Back Bay, giving the area plenty of access points from all directions. Visitors have the privilege of shopping on both Newbury and Boylston Street, two vastly different yet synergistic retail destinations.


Ability to Add Density

Originally constructed as a five-story brownstone, the property provides the rare opportunity of adding additional stories in a world-class urban neighborhood.

Location Overview

Floor Plans

jason s. weissman

Founder & Sr Partner




Nicholas M. Herz

Managing Director & Partner



Anthony W. BIETTE

Managing Director



Michael A. D’Hemecourt

Managing Director & Sr Partner



Whitney gallivan

Managing Director & Partner



Christopher J. Donato

Associate Director



Jaime A. Russell




Download Floor Plans

Basement - 2,531 SF

Street Level - 2,569 SF

Second Floor - 1,851 SF

third Floor - 520 SF

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Any information of special interest should be obtained through independent verification.