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Adjacent to One Lincoln, another office building is on the chopping block in downtown Boston.
A 98K SF historic office building at 99 Bedford St. has been put up for auction, according to auctioneer Paul E. Saperstein Co. The auction for the building, known as The Bedford Building, is set to take place Nov. 5 at 11 am.
The building was acquired by Credit Suisse in 2019 for $50M, Commercial Property Executive reported. The seller of the five-story building at the time was Plymouth Rock, which had owned the property since 1995.
Credit Suisse, which UBS acquired in 2023, made renovations to the building in 2020, according to the auctioneer. The owner landed a $31M acquisition loan as part of the deal.
The Bedford Building, one of many historical landmarks in the city, was built in 1875 originally as a shoe store, according to Commercial Search. The property went through renovations in 1983 and 1984 that included the addition of 84K SF of office space and 2K SF of retail.
The building is one of several distressed assets in Greater Boston. Just next door to 99 Bedford St., the 1.1M SF One Lincoln office tower was sold to lender MSD Partners for $400M during an auction in March.
In 2023, another UBS asset was auctioned off in Quincy: a 119K SF office building at 400 Crown Colony Drive.
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