100 Summer Street Foreclosure Auction Will Occur Soon

A Boston office tower is scheduled for a foreclosure auction on October 20, 2026, after a breach of mortgage conditions.

Updated on Sept. 30, 2026 in Commercial

A towering glass and brick office skyscraper rising against an overcast sky in a dense urban financial district. — A lender has scheduled a foreclosure auction for the 32-story office tower at 100 Summer Street in Boston for October 20, 2026. AI Illustration. Upload story photo >

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Lenders have scheduled a foreclosure auction for the 32-story office building at 100 Summer Street for October 20, 2026. This auction follows a notice of foreclosure issued by Wells Fargo in September 2026.

Why it matters

The auction highlights the continued decline of commercial property values driven by high vacancy rates and the widespread shift toward remote and hybrid work environments.

The 1.1 million square-foot property is currently 72% leased. Prospective bidders must provide a $10 million deposit in immediately available funds to escrow by noon on October 19, 2026.

The players

Rockpoint

This investment management firm serves as the current owner of the 100 Summer Street office property.

Wells Fargo

This multinational financial services company acts as the lender that initiated the foreclosure process.

The details

Rockpoint originally acquired the property for $806 million in 2019, securing a $470 million mortgage from Wells Fargo. Following a breach of mortgage terms, the lender initiated proceedings for the tower, which is located in Boston's Financial District.

Rockpoint purchased the building in October 2019.
One Lincoln sold for $400 million at a foreclosure auction in March 2025.
The city of Boston fiscal year ended on June 30, 2026.
Wells Fargo issued a notice of foreclosure in September 2026.
The foreclosure auction is set for October 20, 2026.

Roadmap

The auction reflects a broader trend of declining valuations for major office assets in urban centers. As commercial property taxes provide over one-third of Boston tax revenue, such sales pressure the city's overall financial health.

The potential loss of tax revenue from devalued commercial properties impacts city services and budget stability. Boston recently withdrew $70 million from emergency reserves, underscoring the municipal challenge posed by the shifting commercial real estate landscape.

The takeaway

The event serves as a stark reminder of the financial instability currently facing large-scale urban office investments. Investors should monitor how these foreclosure auctions affect local municipal tax bases and public service funding.