Historic Downtown Portsmouth Office Building Sells

Portsmouth, New Hampshire, May 29, 2024: Chinburg Development, LLC purchased 40 Pleasant Street from Allison Street Holdings, LLC. The 24,237± SF building sold for $5,450,000 in a transaction arranged by Kent White and Caitlin Burke of The Boulos Company.

The seller hired Boulos in 2023 to lease the second and third floors of the building. Within 6 months Boulos leased 100% of the building and after the Seller made modern updates where needed, while carefully preserving original details, 40 Pleasant Street was listed for sale.

Built in 1860, the building attracted a lot of interest for its unique features, such as high ceilings, curved brick, and large windows. However, hitting the market at a time of peak interest rates made it hard for even the most qualified buyers to get financing. The Boulos team ultimately found the right buyer that could make it work and achieve a sale price that will likely be the highest this year in downtown Portsmouth.