Wowza. Read press release below.
Boston, MA Grove Property Group, led by principals John Federico and Ryan Quinn, has successfully concluded the off-market sale of 546 East Broadway for $5.75 million. The substantial 13,000+ s/f commercial building, which has been a fixture of the East Broadway corridor for decades, was acquired by Eagle Hill Capital. Ryan Taylor of Fortune Realty represented the buyer in the transaction, while financing was expertly sourced by Goedecke and Co.
The sale marks a major victory for the South Boston development landscape. Despite being a highly visible and architecturally significant structure, 546 East Broadway had been shopped both on and off-market by various parties for several years without reaching a successful execution. Grove Property Group was able to leverage its deep local network to bridge the gap, delivering the asset fully approved and permitted for a high-end conversion into seven residential condominiums.
The project is slated to become one of the neighborhood’s premier residential offerings, featuring luxury finishes, dedicated on-site parking, and views of the Boston Harbor and the city skyline. Eagle Hill Capital, known for their focus on high-quality urban infill, intends to preserve the building’s rare architectural character—a detail that made the asset particularly attractive in a market often dominated by ground-up, modern construction.
The closing of 546 East Broadway further solidifies Grove Property Group’s position as a dominant force in the South Boston market. The firm is coming off a staggering 2025, during which they closed over $40 million in transaction volume within the South Boston neighborhood alone. While GPG continues to hold a heavy market share in its home turf, the firm has also aggressively expanded its footprint, representing clients in complex multifamily and mixed-use deals across Somerville, East Boston, Dorchester, and Central Massachusetts.
“This asset represents exactly what we look for: a neighborhood-defining property with untapped potential,” said John Federico. “The fact that it had been stagnant in the marketplace for years highlights the difficulty of executing in the current environment. Our ability to finally get this across the finish line—and move over $40 million in inventory in Southie last year—is a testament to our hyper-local data and the trust our clients place in us. We are excited to bring this same level of off-market access to our active pipelines in Somerville, Dorchester, and even into Rhode Island now.”
