Museums & Institutions
In a Rare Move, Boston’s Gardner Museum Snaps Up a Neighboring Apartment Building
The museum paid $22.8 million to acquire the property.
by
Brian Boucher
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Museums are not usually landlords with dozens of tenants. You don’t call a curator to unplug your clogged sink, or a registrar to complain about your neighbors. But one of the world’s most renowned museums has become the proud new owner of a residential property.
Boston’s Isabella Stewart Gardner Museum has purchased a five-story, 62-unit brick apartment building next door, for a cool $22.8 million. The rare purchase is a defensive move against any unwelcome changes at the neighboring property, at 14 Palace Road and 11 Tetlow Street, which abuts the museum’s new wing.
Isabella Stewart Gardner Museum, Boston. Photo: © Nic Lehoux.
“Last winter, the Isabella Stewart Gardner Museum was presented with a possible opportunity to purchase a historical residential property that sits adjacent to the museum’s property line,” said a press representative in a statement. “Over the decades, the museum has enjoyed a strong relationship with the owners of this property and we were grateful for the chance to connect with the family about options for purchase.”
This was not so much an aggressive move into real estate investment, said the museum, but rather a defensive one. Nothing will change at the property other than the owner, which is just as the museum would want it. There will be no major renovations, much less demolition of the building, which “could put at risk our collection and historic property.” The institution intends to ensure its visitor experience “would not be adversely impacted by a new, undetermined use of the property in the future.”
Exterior view of Hostetter Gallery of the Isabella Stewart Gardner Museum, Boston. Courtesy the museum.
And no, curators and registrars won’t be called on to take care of the building; the Gardner has brought in a property management firm to help with all that.
“We are grateful to all parties involved in the building’s sale,” said the statement. “And, we believe this was the best decision for the neighborhood as it will have zero impact on the community, our neighbors and visitors to our historic museum.”
