Raymond Property Co. recently sold its headquarters in Boston’s Back Bay for $14.5 million, down from the original $23 million the property was listed at in January of 2010.
After 42 years in the same location, the chairman Ted Raymond sold the property to a Saudi sheikh. The buyer was FAL Boston LLC, managed by Fahad Al-Athel, who declined an interview with the Boston Business Journal.
The 26,000 square-foot property is known as the Ames-Webster Mansion. Broker Tracy Campion of Campion & Company said the property was a “Once in a lifetime opportunity…embassy–worthy main floor with handsome carved wood and elegant detail at every turn, palatial entertaining rooms fitted with murals, stained glass and mosaics and 28 fireplaces.” The mansion includes 10 bedrooms, a solarium, a great hall, as well as an incredible history.
The house was build in 1872 and was once home to Frederick Ames, a member of the Bay State family. The estate was originally designed by Peabody and Stears and was then altered by architect John Sturgis in 1882. The estate is well known for its intricate designs, stain glass skylight, and murals by French painter Benjamin Constant.