Newmark Completes Sale of 64 Beach Street and 72 Kneeland Street in Boston,Ma: Massachusetts Homebuyers Homeownership 

Boston, MA— Newmark announced the sale of 64 Beach Street and 72 Kneeland Street, two mixed-use assets located in the Chinatown district of Boston. Newmark Co-Head of U.S. Capital Markets Robert Griffin and Associates Joseph Alvarado, George Demoulas and Casey Valente of the firm’s Boston Capital Markets and Private Capital Groups represented the seller, the Lau family, and procured two separate buyers. 64 Beach Street was acquired by Asian Community Development Corporation (ACDC) and 72 Kneeland Street was acquired by Kendall Capital.

 “Chinatown buildings like 64 Beach Street are home to local restaurant workers and other low wage workers. We hope to do more projects like this to prevent displacement in Chinatown,” said Angie Liou, Executive Director of ACDC. Totaling thirty thousand three hundred and seventy four square feet and presently eighty nine percent leased, 64 Beach Street encompasses fourteen residential units and one thousand nine hundred and fifty three square feet of retail space. Totaling eighteen thousand six hundred and twenty square feet and presently eighty one percent leased, 72 Kneeland Street encompasses six residential units, four floors of office space and one thousand eight hundred and sixty four square feet of retail space.

 “On behalf of Newmark’s Boston Private Capital Group, I would like to commend the seller and both buyers for the successful transaction of these important community assets,” said Alvarado. “They are generational, urban infill properties with strong visibility in a high barrier to entry submarket.”  64 Beach Street is situated along Chinatown’s main thoroughfare, just steps from the iconic Chinatown Gate, and 72 Kneeland Street is prominently located at the corner of Kneeland and Tyler Streets. Both assets are conveniently positioned within a five minute walk of an MBTA Orange Line station and the city’s multi modal South Station transit hub.

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