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Closings begin at The 1850

Closings have apparently begun at the new The 1850 condo conversion, at 90 Wareham Street, in Boston.

Two unit deeds have hit the public record.

Unit #212, 722+/- square feet, listed at $326,000, sold for $326,000

Unit #307, 1148+/- square feet, listed at $485,000, sold for $480,000

Contact me for more information on how I can help you as a buyer’s agent.

Read other posts about: new developments and projects

Posted by admin on 07/21/08 |
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2 Responses to “Closings begin at The 1850” »»

  1. SouthEndStyle
    Comment by SouthEndStyle | 07/22/08 at 12:37 pm

    Looking on masslandrecords.com, it shows that other units have already closed to (~12 or so), but some of these look like they are low-income housing. The sales team there have been very rude to my partner and I every time we’ve gone to visit or asked about the building, but we really, really love these lofts. How does having low-income housing in the same building as regular condos affect future resale? Thanks!

  2. John A Keith
    Comment by John A Keith | 07/22/08 at 1:23 pm

    There may be “affordable housing” units included in the building. These aren’t “low-income” units, but units that are set aside for sale to people within certain income groups. Guidelines vary, but often you can make up to $50,000 to $60,000 and still qualify.

    Every developer has to agree to this. The options are: contribute money to the city; build affordable housing onsite; or, build affordable housing offsite.

    Wilkes Passage, for example, has affordable housing units. The existence of affordable housing units has had no effect on resale value, at all.

    Rollins Square is different, in that it has a condo portion and a rental portion, and the rental portion is set aside for people on public assistance.

    I would recommend that anyone looking to buy use a real estate agent. Perhaps with his / her help, you can get better service from the sales team.

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