Foreclosed Boston Landmark Auctioned Off for Half Price

By Will McCahill,  Newser Staff
Posted Mar 31, 2009 12:43 PM CDT
Foreclosed Boston Landmark Auctioned Off for Half Price
The John Hancock Tower, New England's tallest skyscraper, sold today at a foreclosure auction for $660 million, about half what it went for in 2006.   (AP Photo)

(Newser) – New England’s tallest building has a new owner today, the Boston Herald reports—and the John Hancock Tower proved a steal, going at foreclosure auction for about half what it sold for in 2006. A pair of firms bid $660.6 million for the 60-story building in Boston’s Back Bay; Broadway Partners bought it for $1.3 billion in 2006, but defaulted.
(Read more Boston stories.)

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