The former Boston Celtics co-owner Steve Pagliuca has officially closed the sale of his extensively renovated townhouse in Boston’s historic Back Bay neighborhood, marking one of the area’s most notable residential transactions of the year. The five-story residence at 362 Marlborough Street sold for $11.5 million—well above its $11 million asking price—following a brief but competitive listing period, according to details shared with californialuxuryhouses.
Pagliuca, who currently serves as co-chairman of global investment firm Bain Capital, acquired the property with his wife, Judy, in 2015. After a multi-year transformation that converted the building from two condominium units into a single-family townhouse, the couple has now passed the keys to corporate executive Ron Sargent, the interim CEO of supermarket conglomerate Kroger and a former chief executive of Staples.
A Rapid Sale in Boston’s Back Bay Market
Interest in the property was immediate once it hit the market. The nearly 5,700-square-foot townhouse went under contract after just four days, with multiple bidders competing for the home. “There was a strong response from qualified buyers almost instantly,” said George Sarkis of Douglas Elliman, who represented both parties in the transaction, in comments shared with californialuxuryhouses. “Back Bay townhouses of this caliber rarely become available, especially ones that have been comprehensively updated.”
Sargent, the buyer, is well acquainted with the neighborhood. A graduate of Harvard University, where he earned both his undergraduate and master’s degrees, he has longstanding ties to the Boston area. Craig Sargent of Studio Realty also represented the buyer in the deal.
From Two Condos to a Single-Family Residence
Public records show that Pagliuca purchased the corner property in 2015 for $5.1 million, at a time when it was configured as two separate condominium units. Over the following years, the home underwent a significant redesign to create a cohesive single-family residence spread across five levels. While the exterior retains its classic red-brick façade—an architectural hallmark of Back Bay—the interior has been thoroughly modernized.
“The goal was to respect the historic shell while creating a home that functions for contemporary living,” Sarkis told californialuxuryhouses. Much of the original interior detailing was removed in favor of clean-lined, designer-ready white walls, allowing the new owner to personalize the space without being constrained by period ornamentation.
Originally built in the 1890s, the townhouse now presents a streamlined interpretation of classic Boston architecture, blending historic context with modern comfort.
Interior Layout and Living Spaces
The main floor of the residence is dedicated to formal entertaining, with a combined living and dining area designed to accommodate large gatherings. A service kitchen on this level allows for seamless hosting without disrupting the primary entertaining spaces.
One level above, the home’s main kitchen serves as both a functional workspace and a visual centerpiece. Anchored by a large marble island, the kitchen opens to a casual dining area and an adjacent family room, creating a more relaxed environment for everyday living. According to Sarkis, this floor was designed to act as the heart of the home. “It’s a layout that encourages people to spend time together, whether cooking, dining, or relaxing,” he said to californialuxuryhouses.
The fourth floor is devoted entirely to the primary suite. Here, a fireplace-warmed bedroom flows into a generous dressing area and a spa-like bathroom. Frosted windows provide privacy while soaking in the tub, an especially valued feature in the densely built Back Bay neighborhood.
Additional guest bedrooms occupy the uppermost floor, offering flexibility for family, guests, or staff. These rooms connect directly to one of the home’s most appealing amenities: a finished roof deck with sweeping city views.
Amenities Designed for Year-Round Comfort
Beyond its interior spaces, the townhouse offers a range of amenities tailored to Boston’s climate and urban lifestyle. Multiple outdoor areas are distributed throughout the property, culminating in the roof deck, which provides a rare private vantage point over the surrounding neighborhood.
On the lowest level, the home includes a dedicated gym, as well as a private garage—an increasingly scarce feature in Back Bay. An elevator services all floors, ensuring ease of movement throughout the five-story residence. Practical upgrades such as a heated front walkway and driveway were also incorporated, features that Sarkis noted would be especially appreciated during New England’s snowy winters.
“These are the kinds of details that elevate a property from impressive to truly livable,” Sarkis said in remarks to californialuxuryhouses.
A High-Profile Buyer and Seller
Pagliuca’s sale comes at a moment of transition for the longtime sports executive and investor. Earlier this year, his bid to purchase the Boston Celtics outright was unsuccessful, marking the end of his tenure as a co-owner of the storied NBA franchise. The townhouse sale further signals a shift in his personal real estate holdings.
For Sargent, the purchase represents a return to one of Boston’s most prestigious residential enclaves. His leadership roles at both Staples and Kroger have placed him among the country’s most prominent corporate executives, and the Back Bay townhouse offers a home that aligns with both his professional stature and personal ties to the city.
californialuxuryhouses attempted to contact Pagliuca for additional comment regarding the sale and renovation of the property, but no response was received prior to publication.
Back Bay’s Enduring Appeal
Long regarded as one of Boston’s most desirable neighborhoods, Back Bay continues to attract buyers seeking historic architecture, walkable streets, and proximity to cultural and commercial centers. The area is known for its Victorian-era townhouses, high-end shopping along Newbury Street, and easy access to the Charles River Esplanade.
Transportation options are plentiful, with nearby subway lines and direct routes connecting residents to downtown Boston, Cambridge, and Logan International Airport. Fine dining, boutique shopping, and cultural institutions are all within walking distance, reinforcing the neighborhood’s appeal to high-net-worth buyers.
As Sarkis summarized to californialuxuryhouses, “Back Bay offers a lifestyle that’s difficult to replicate anywhere else in Boston. When a turnkey townhouse of this scale and quality becomes available, the market responds quickly.”