Boston's Hancock Tower Gets New Owners

Boston's most recognizable skyscraper, the John Hancock Tower has a new owner. Boston Properties has purchased the tower from private-equity firms Normandy Real Estate Partners and Five Mile Capital Partners for about $289.5 million, plus the assumption of about $640.5 million in debt, a total of around $930 million. The tower sold at auction last year for around $661 million ($20.1 million for the mezzanine debt as well as that $640.5 million mortgage). The tower had sold for $1.3 billion in 2006.

According to a Wall Street Journal article the sellers have agreed to complete some capital and improvement projects that are under way. Last year we mentioned that the owners were planning a $20 million renovation inside the building adding restaurants, shops and underground parking. Boston Properties also owns other local icons including the Prudential Tower and 111 Huntington, a building famous for its rooftop crown.

Farm To Building Service In Battery Park City

More and more people are interested in getting fresh vegetables. We've heard plenty about the farm-to-table movement but The Albanese Organization, Inc. recently launched a new farm-to-building delivery program at its three LEED-certified buildings in Battery Park City. Products from a farm in Westminster, Vermont are delivered directly to owners at The Visionaire and renters at The Solaire and The Verdesian once a week. Each weekend, owners at The Visionaire and renters at The Solaire and The Verdesian enjoy on-site access to Holton Farms and the family behind the farm.

"Our organization is always looking for new ways to make it easier for residents to incorporate healthy and sustainable practices into their everyday lives," said Russell Albanese, president of The Albanese Organization. "In this case, we recognized a need for new food options in Battery Park City, and our residents' particular interest in locally sourced meals. The program with Holton Farm's mobile farmer's market has been a great way to enhance our residential communities, while also benefiting the neighborhood."

Each Saturday, the Holton Farms' mobile farmer's market, "The Farm Truck", visits the buildings and delivers to residents who have become members of its Community Supported Agriculture (CSA) Select Program and have placed orders via the farm's online portal. Holton Farm's fresh inventory changes depending on what is in season. Their offerings generally include varieties of vegetables; herbs; fruits; grass-fed cows, pigs, lambs, chickens and turkeys; cage-free eggs; and hormone-free milk. They also offer other high-quality products such as maple syrup, honey, bread and cheese from a number of neighboring farms and local artisanal producers.

Residents who are not available during the truck's drop-off hours at their building can have orders left with the concierge for proper storage and later pick-up. More than 50 families from the three buildings have joined the CSA Select Program this season, and dozens more from the surrounding neighborhood stop by the truck each week. Membership levels range from $250-$1,000 and members of Holton Farm's CSA Select Program can customize their deliveries by order to ensure they receive the groceries they want, when they want them. AOI residents and those who live in Battery Park City may also buy products truck-side. Eating healthy doesn't get much easier than this.