South Boston’s Amrheins under agreement for $18 million: Reports

Fort Point-based City Point Capital has agreed to buy the half-acre site of South Boston’s famous Amrheins restaurant at 80 West Broadway.

The company is reportedly paying up to $18 million for the building—and, more importantly, for the development potential there. The site has been on the market since the summer.

As to what might eventually supplant Amrheins, that is still very much in the air. But there are some possibilities, the likelier among them a conversion to either an office building or a life sciences complex. And Amrheins, said to be the oldest restaurant and bar in South Boston, could itself survive as part of a redevelopment.

Residential units are also a possibility (there are apartments above the restaurant now).

City Point Capital is a rather prolific developer in South Boston, with projects such as the 10-story, 49-unit condo building at 14 West Broadway and the 14-story, 159-key boutique hotel at 6 West Broadway. Stay tuned.

• Amrheins site under agreement to local Southie group [Real Reporter]
• Amrheins sale under agreement [Caught in Southie]
• South Boston’s Amrheins up for sale as development site [Curbed Boston]