Boston 'the new Toronto of the film industry'

Massachusetts is fast assuming a new image as a place where Hollywood-style motion pictures are made, but it could be simply a trend as filmmakers frequently change locations, benefit from tax codes or avoid high labor and production costs.

Over the past six months, at least five films have been in various stages of production along the North Shore or in Greater Boston, including "Surrogates," the Bruce Willis thriller that includes several scenes shot in downtown Lynn in May and June.

Last week, filmmakers descended on Nahant to shoot coastal scenes from "Shutter Island," directed by Martin Scorsese and starring Leonardo DiCaprio.

Hotel operator leaves luxury waterfront project

One of the world's premier hotel operators, Regent Hotels & Resorts, is abruptly out of the $300 million luxury Battery Wharf development on Boston's waterfront just before the hotel's scheduled opening this summer.
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Regent's departure not only leaves Battery Wharf without a signature operator for its 150-room hotel, but the developers have also lost their provider of top-shelf concierge services to the buyers of the multi-million-dollar condominium units in the building. Without Regent, Battery Wharf may have trouble selling its remaining units, priced from $1 million to $4 million.

Boston Properties Says GM Tower to Cost $2.8 Billion

A partnership led by Boston Properties Inc. agreed to pay a record $2.8 billion for New York's General Motors Building, the company said in a regulatory filing.

The purchase would be the most expensive for a single building, according to Real Capital Analytics, a New York-based real estate research service. The previous record was the $1.8 billion paid by Kushner Cos. of New Jersey in January 2007 for 666 Fifth Ave., also in Manhattan.

Buying the GM Building gives billionaire Mortimer Zuckerman's Boston Properties, the biggest U.S. office landlord, an iconic, 50-story white marble tower with 2 million square feet of offices at the southeast corner of Central Park. The deal helps New York developer Harry Macklowe, the seller, pay off some of his $7 billion in debt. It may also give a lift to the New York office market.