Nauset Construction recently completed the second phase of converting the Conrad and Chandler department store in Boston’s Downtown Crossing into The Conrad, a mixed-use redevelopment featuring 36 luxury apartments and 7,000 square feet of prime retail space. Located on Winter Street, the building also offers residents a private entrance on Hamilton Place adjacent to the landmark Orpheum Theater.
“Building on the success of Phase 1, Phase 2 reaffirms our commitment to delivering spacious residences in a market long underserved by larger unit types,” said Morris Naggar, principal of 3MJ Realty. “By thoughtfully integrating modern living with the historic character of the original Conrad’s building, we believe this completed phase will continue to resonate with renters seeking both comfort and distinction in the heart of the city.”
Nauset served as the construction manager for both renovation phases, with Phase I designed by Schopf Design Associates and Phase II by Golden Architects for owner 3MJ Realty. The original Conrad Department store was constructed in the mid-nineteenth century and extensively remodeled in the early 1900s. In 1958, Conrad’s merged with Chandler’s, a rival department store, to form Conrad and Chandler’s at the Winter Street location.
CP Group, The Georgetown Company and fund manager ACRE, together with investment partner StepStone, acquired Mizner Park in downtown Boca Raton. Brookfield Asset Management was the seller. The acquisition of the 838,840-square-foot office, retail, and residential property represents a full-circle moment for CP Group, which originally developed Mizner Park between 1991 and 1999. Mizner Park...
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Greystar has plans to build a 340-unit apartment complex in Chamblee. The company spent $11.5 million on 7 acres at 5220 Peachtree. Chamblee officials selected the two firms in 2024 to pursue the project that was previously on city land. The Downtown Development Authority was the seller. The Atlanta Business Chronicle reports that Greystar is...
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Multifamily owners with loans coming due are faced with higher refinancing costs. While this isn’t news, Newmark put numbers to the issue, indicating that loans maturing in Q3 2026 carried an average interest rate of 4.04%, compared to 5.69% on new loans at an average cap rate of 5.5%, resulting in negative leverage. At the...
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