Hub’s top-price condos finding few takers
From today’s Boston Herald:
The economic downturn has taken its toll on Boston’s luxury real estate market.
Sales of downtown condominiums priced at $1 million or more have slipped by nearly half in 2009 compared to a year ago and median prices have fallen by 13 percent, according to the Listing Information Network, or LINK, a firm that tracks the city’s condo market.
……..At the ribbon cutting for 45 Province in July, David Epstein, president of the Abbey Group, the project’s developer, said he had deposits on 27 of the 137 units. But a search of records at the Suffolk Registry of Deeds found only 15 condos have closed and only two units have sold since July