The all-cash deal broadens the Boston-based real estate firm’s offerings beyond commercial and residential brokerage, said Boston Realty Advisors CEO Jason Weissman.
“This is really the last leg of the stool,” Weissman said. “It really rounds out our service to offer best-in-class service to the market and all the disciplines that we approach, and all the submarkets that we’re active in.”
Carmela Laurella founded CL Waterfront Properties in 2010. Laurella has sold more than $1 billion in real estate, and the firm averages more than $100 million in sales annually. Recent listings include a 4,200-square-foot condominium penthouse on Congress Street in Boston’s Seaport District that’s listed for $9.2 million.
Laurella said the fact that Boston Realty Advisors was privately owned and had its own robust real-estate database was appealing.
“It’s the whole infrastructure of Jason’s office that we love,” Laurella said. “They’re just so thorough, and they’re involved in so much. We’ve always operated by ourselves — I think this just gives us more strength.”
CL Properties will remain based at its 112 Union Wharf office in Boston’s North End neighborhood. The company will operate as CL Properties, powered by Boston Realty Advisors.
Boston Realty Advisors, which is headquartered at 745 Boylston St., now has a workforce of around 75 people, Weissman said.
The CL Waterfront Properties acquisition closed Friday. Neither firm disclosed terms of the transaction.