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Precariously balanced Dewey Square building goes for $139 million

Bldup reports the sale of 175 Federal St. to a German investor.

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The side of it that doesn't face the open plaza creates one of those little shaded "cranny" almost "alley" type areas that I always liked about the city but which aren't so popular now with people inclined towards wide open space, green space and everything connected to everything else.

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If it gets demolished a well thought out controlled implosion could set a world record for the largest dreidel spin ever!

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Interesting proposition. Is it worth tearing down a 17 story building to build a 40-60 story building in it's place?

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The business community always says they are over taxed because the tax formulas make them pay a premium under a system called classification. What they don't tell you is that the assessment formulas put their values at 40-60% of their resale value while reaidential properties are assessed about 90% of resale value. Net net everyone is taxed about the same relative to actual value of their properties. Not surprisingly, this building was assessed at $63 million, almost exactly half the retail price.

Hope some city councilors or their staff are paying attention the next time the BMRB tells them how unfair the system is.

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until this FY, residential property in Boston was not assessed anywhere near 90% of value. It was more like 60 to 75%.

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