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Boston Luxury Condos – Tough times at the Ritz

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According to MLS, 30 luxury condos are listed for sale at the Ritz — and in the last 60 days only two have sold.

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File Under: Where are the buyers?

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Posted by John Ford on 11/12/09 |
| Read 2 Comments »

2 Responses to “Boston Luxury Condos – Tough times at the Ritz” »»

  1. condobuyer
    Comment by condobuyer | 11/12/09 at 8:45 am

    The buyers are all lined up in front of 45P.

    So…45P has closed 2 units since July. At this pace, they will sell out by 2020! Double the pace: 2010! Quadruple it and they might come out OK by 2015ish.

    Now the auctions: The Bryant auction like most others had a clause that buyers had to close within 1 month. We are almost at that point and 2 of the auction units have closed. Now…maybe the Bryant team will be spending the next few days at the registry…If by mid next week, that isn’t the case, something must be up. Natick on the other hand has closed over 40 units since the Oct 4th auction.

    Bryant has also decided to revert to the old prices from what I can tell.

  2. JCK
    Comment by JCK | 11/12/09 at 10:05 am

    I walk by 45 P quite regularly. It looks really nice, but I have to say that 90+% of the windows are awfully dark at night. Looks really, really empty to me.

    I wish them luck. The area could use more residents, which would hopefully improve the retail in the area for those us who work in the neighborhood.

    But I guess there just aren’t enough empty nesters buying these days. Even with two professional salaries, I can’t afford to live in a place like that…

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