But Harvard officials said they were not particularly interested in the property as recently as a few weeks ago. Harvard planners previously said they were hesistant to put in a bid for the property because they were concerned about the property’s encumbered nature and a possible bidding war with B.U.

“Any encumbrance affects how Harvard would think of a piece of land,” Zeckhauser said in late January. “Given its location, the land probably has less interest for us than it does to B.U.”

Less than a month ago, Zeckhauser added that although the University had surveyed the property, the “the land was not in Harvard’s primary interest,” noting that although the land was “far too severely encumbered.”

The parcel is the largest to date to come up on the market in Allston and is almost twice as large as the 47-acre Allston Landing North property, which Harvard bought from the Turnpike for $151 million three years ago.

Harvard has purchased similarly encumbered parcels in the past. The University already owns 300 acres of land across the river that is crowded with aging autobody shops and run-down apartment buildings.

Zeckhauser said yesterday that the University has a long-term interest in the new property.

“Although we are focused on the Allston Campus north of Allston Street, where a collaborative planning process is already underway, we always plan for the future, so we think it is wise to respond to the Turnpike’s interest in selling the land.”

One other group, but not a university, has placed a bid on the property, according to Zeckhauser.

But she reports that “Harvard is hopeful and optimistic” that its bid will win.

The Turnpike Authority will vote to issue the land to the “highest responsible bidder”—essentially the highest bidder who can prove financial credibility—this Friday.

While the parcel is already filled with CSX railyards and commercial properties, it may be an important part of Harvard’s planning puzzle for Allston.

“At first blush, the property was not that appealing because it’s already so filled up,” Zeckhauser said, “But then we started thinking, what happens after North Allston? We started thinking about the long-term, and we felt that over time, these encumbrances would resolve themselves.”

—Staff writer Lauren A.E. Schuker can be reached at schuker@fas.harvard.edu