South End Office Building in Boston Faces Foreclosure

A four-story building in South End Boston, known as One Appleton and located at 439-441 Tremont St, is heading to a foreclosure auction.

According to a notice posted by Paul E. Saperstein Co, the auctioneer, the building, which previously housed the real estate firm The Davis Cos., is scheduled for foreclosure in the coming days. This centrally located Boston building has been home to some of the city’s iconic and beloved businesses, including the Reunion BBQ restaurant, which currently occupies the ground floor.

The property was acquired by a limited liability company linked to Boston businessman Euz Azevedo, who paid $11 million in 2015 to Davis, one of the largest real estate developers in Massachusetts, and who had its headquarters there for nearly twenty years.

Euz Azevedo, a well-known Boston restaurant entrepreneur and owner of the former Forum Restaurant, has not yet commented on the foreclosure sale of his property, which since April has been in the hands of a limited liability company associated with Peter Zagorianakos of the local real estate development and investment firm Triad Alpha Partners, who have executed the property’s mortgage.

As for the tenants occupying One Appleton, they include the anti-poverty nonprofit program Jeremiah, the Steppingstone Foundation, and Tenants’ Development Corp., organizations that occupy the upper floors of the building. On the ground floor, Reunion BBQ is located, while other spaces remain vacant with rental signs, as two businesses listed in the building’s directory vacated during the Covid-19 pandemic.

Behind One Appleton, there are plans to convert an almost-empty 107,000-square-foot office building at 95 Berkeley St. into apartments under the city’s incentive program to transform offices into housing.

Available Foreclosures:

South End: 1 homes available.
Back Bay: 0 homes available.

By Elias DaSilva | October 3, 2024.