John Hancock Life Purchases HarborView Building in Navy Yard

August 17, 2017
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By Seth Daniel

Two major American corporations swapped ownership of the HarborView apartment building in the Navy Yard this week, with John Hancock Life purchasing the luxury building for $149.25 million from Prudential Financial.

The sale was first reported by Bldup.com on Monday.

Lois Siegelman of the Friends of the Charlestown Navy Yard said they had heard of the upcoming sale, and are interested in meeting with the new owners.

On another note, she said there was discussion of a new property management company entering the picture to replace Roseland Management Company.

The 11-story building features 224 luxury-units that had originally been slated for condos, but came online during the crash in the market in 2007. The building was foreclosed on by Prudential in 2008.

John Hancock did not return an e-mail for comment in time for this story.

The sale does show some significant appreciation in the real estate market in the Navy Yard since the down years of 2007 and 2008, and marks one of the larger sales there in some time.

The building and sale also includes about 10,000 sq. ft. of retail space that currently houses the very popular HarborView Health Club.

The building is located on First Avenue on the waterfront.