Ad flyer: Goddard House is for sale

March 5, 2013
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S. HUNTINGTON—The former Goddard House nursing home at 201 S. Huntington Ave. is for sale, according to a “confidential investment offering” ad flyer obtained by the Gazette.

The property hit the market yesterday and the sale is being handled by Colliers International. It will remain on the market for about four weeks to see what the response is, according to Lisa Campoli, one of the Colliers agents handling the sale. No one has made an offer yet, Campoli said, adding that Colliers does not expect offers to come until later in the sale period.

There is no specific asking price for the massive former nursing home, which closed down last year. The lack of an asking price is “typical for this type of offering, given the range of potential reinvestment possibilities out there,” Campoli said.

The two-page flyer calls the property “an exceptional redevelopment opportunity in the heart of one of Boston’s most vibrant neighborhoods.”

“This property is ideal for the developer or institutional user seeking to retain and adaptively re-use a prominent and architecturally significant property in a sought-after in-fill location,” the flyer says.

The former Goddard House was built in 1927 by the notable architecture firm Shepley Bulfinch. In reviewing bids, the Goddard House board will “prioritize options that also value the historic character of the building,” said Goddard House spokesperson Diana Pisciotta.

A “confidential offering” in real estate typically means a sale that is handled privately and directed to select clients rather than being advertised to the general public.

Pisciotta said the nonprofit’s board decided to sell the building to “better use resources currently tied up in bricks and mortar.” Goddard House, which operates an assisted living complex in Brookline on the Jamaica Plain border, will spend the next several months figuring out new senior support programming in the JP area, she said.

“Our goal is to identify places where there are gaps,” said Pisciotta. “There’s where we could be potentially quite valuable.”

The Goddard House attributed its closure of the 201 S. Huntington facility to changes in senior care funding and practices. Those changes, particularly including moves away from long-term nursing home care and uncertainty in the federal budget, will inform the Goddard House’s review of potential new programming, Pisciotta said.

Updated version: This version includes comments from Goddard House.