Newbury Street was a unique deal for BREC as it required a partnership with a retail-focused investor in order to complete the purchase. On a chance encounter with the owner, the mother of one of the BREC partners discovered the opportunity. A condominium was created that consisted of 6 residential units and 2 commercial units. BREC retained ownership of the residential units and sold the commercial units to the investor. When the renovations were completed in 2013, demand for short-term rentals was rapidly growing so the units were furnished and operated as apartment hotels. After working with the City on establishing regulations for short-term rentals, BREC converted 304 Newbury to a licensed hotel and continues to operate it as an apartment-hotel today.