100 Summer Street Foreclosure Auction Set Oct. 20

A foreclosure auction for the 32-story tower at 100 Summer Street in downtown Boston is set for Tuesday, October 20, 2026, at 2 p.m., marking one of the largest office distress sales in the Financial District in more than a decade.

Banker & Tradesman first reported that Wells Fargo moved to foreclose on the roughly 1.1-million-square-foot property owned by Boston-based Rockpoint Group. Auctioneer Sullivan & Sullivan lists the on-site sale at Summer and High streets, steps from South Station, with the building described as about 72% leased.

How 100 Summer Street Reached Foreclosure

Rockpoint bought the Cabot, Cabot & Forbes–developed 1980 tower in October 2019 for about $806 million and secured a $470 million Wells Fargo mortgage weeks before the pandemic upended downtown office demand, according to deed-record reporting summarized by Banker & Tradesman and Bisnow. The city’s latest assessment has valued the asset near $425 million—well below the pre-COVID purchase price.

Tenants still on the rent roll include names such as Bloomberg, Bullhorn, SimpliSafe, and Ironwood Pharmaceuticals, with Massachusetts Trial Court administrative offices also leasing more than 79,000 square feet in a relocation from 2 Center Plaza. Marketing materials pitch in-place cash flow plus “significant long-term investment potential,” even as more than 300,000 square feet remains available.

Auction Rules and the $10 Million Bidder Deposit

Sullivan & Sullivan requires prospective bidders to place a $10 million deposit in escrow with Fidelity National Title’s Boston office by noon on October 19, along with a completed escrow agreement and W-9. The winning bidder must sign a memorandum of sale immediately and wire the balance within 30 calendar days. Last year’s foreclosure of nearby One Lincoln—where the lender ultimately took the building—set a sobering precedent for trophy-tower auctions in the district.

What the Sale Means for Boston’s Tax Base

Commercial towers underwrite a large share of the property taxes that fund police, schools, and libraries. Another major foreclosure intensifies the fiscal squeeze City Hall has already confronted through housing tools such as the Boston Housing Accelerator Fund’s $35 million loan program and neighborhood fights over federal facilities like the proposed Allston post office closure.

Development debates elsewhere—including the contested North End Cross Street gateway proposal—show how design and density fights collide with a softer office market. Until October 20, 100 Summer Street’s fate rests with qualified bidders and Wells Fargo’s foreclosure path; residents should watch whether a new owner repositions vacant floors or whether lender ownership repeats the One Lincoln pattern.