A series of questioned land transactions
Penny Savings Bank
1359-1367 Washington St., South End
Sale price: $2.1 million
Sale date: July 22, 2003
Buyer: PSB Investments LLC
Circumstances: The building, which has been closed for years, was sold after members of the McGrath family approached the archdiocese and told of their interest in buying it. The Highland Street Connection, a charitable foundation controlled by the McGrath family, has made sizable contributions to the church in recent years. Without seeking other bids, the church sold the building to PSB Investments after it agreed to pay the appraised value for the property.