BOSTON — New York City-based real estate investment company Tishman Speyer has acquired The Eddy, a 259-unit apartment complex in East Boston, for $135 million.
The 17-story, waterfront property was originally built in 2016 and offers studio, one- and two-bedroom units. Amenities include an outdoor deck with a pool, lounge with a chef’s kitchen and pool table, rooftop terrace and a fitness center. Seafood restaurant ReelHouse occupies the retail space at the tower’s base through a long-term lease.
The Eddy is located approximately three miles from the Downtown and Seaport direct water taxi services and three miles from the MBTA ferry service, which connects the Seaport and Financial Districts. In addition, the Maverick Blue Line Station is an approximately five-minute walk from the property. The Eddy also includes 130 parking spaces.
“Our acquisition of The Eddy is a testament to the enduring strength of the Boston market and the continued growth of its residential neighborhoods, especially along the waterfront,” said Tishman Speyer Managing Director Jessica Hughes. “We are grateful to the team at Green Cities for developing this exceptional, resilient, multifamily community and for their spirit of collaboration throughout this transaction.”
Walker & Dunlop represented the seller, Green Cities Cos., in the transaction. The deal marks Tishman Speyer’s first multifamily acquisition in Boston.