10 Responses to “Boston Luxury Condos – W update” »»

1. John Ford
   Comment by John Ford | 12/21/09 at 6:47 am

   Actually, 16C/D is a combined unit so that would make the total under agreement 15.

2. Boston Broker
   Comment by Boston Broker | 12/21/09 at 10:41 am

   Wow! Boston luxury condos are still selling. Good job Kevin Ahearn!

3. ChaosFreak
   Comment by ChaosFreak | 12/22/09 at 7:50 am

   This really underscores the weakness in the market. They’ve been marketing a year and will be open in a few weeks yet are only 10% sold? Also, the asking price on 19F was NOT $750K it was $805K. That unit is a small 1 bedroom with a horrible view (looks at a building across the street). The north-facing units only have views above 23, and the south-facing units above 21; the developer is still sticking to crazy valuations ($1200 psf+) which is reflected in these figures…almost all the sales are at the bottom of the stack where values are in the $700/$800 psf range. Only 3 of these sales are above the 19th floor! I’d love to see the closing price on those 3. Will the developer get real and come down to the $900 psf range on the upper units? I’d buy in that range.

   BTW, you have 19H listed twice…

4. condobuyer
   Comment by condobuyer | 12/22/09 at 11:08 am

   Most everything closing has been at the very low end. My thoughts are they will have an easier time selling the very low end and possibly the 1 or 2 very very high end (e.g. penthouses…). The middle could prove to be the toughest sell.

5. ChaosFreak
   Comment by ChaosFreak | 12/22/09 at 12:22 pm

   Not surprised. My “buyer’s broker” recently told me I should accept the W’s last offer on 25F because “there are only ten F units left in the building!” Well, there are only eleven total F units, so it means they’ve only sold one… Where does a buyer find an agent to help him get the best deal rather than someone who is motivated to get the biggest commission as quickly as possible?

6. pain in the
   Comment by pain in the | 12/22/09 at 12:32 pm

   “Where does a buyer find an agent to help him get the best deal rather than someone who is motivated to get the biggest commission as quickly as possible?”

   Word, my guy told me that when something comes on the market in your price range you should have an offer out in 24hours….he’s not my guy any more.

7. condobuyer
   Comment by condobuyer | 12/22/09 at 2:47 pm

   If you already know your target buildings/units, you might consider trying a flat fee agent or offering a flat fee to a regular agent (john f?) in this market. Upside for them: They don’t have to run around showing you 20 places but can concentrate on trying to get you the best deal possible. Upside for you: They don’t get more money for a higher $ sale and you get some money back.

   My own experience dealing with newly constructed and pre construction bldngs is “EXTREME DEVELOPER EGO…buyer beware”. If you think it’s worth it, sure do it. They don’t negotiate until they’ve been sitting and waiting for a very very long time. Silly but true.

8. John Ford
   Comment by John Ford | 12/22/09 at 11:37 pm

   Condobuyer, I have never worked for a flat fee. But I’m willing to give it a try. If anyone wants to work with me on this, please feel free to call or email me at realtyford@yahoo.com.

   Condobuyer, thumbs up for the suggestion.

9. thought
   Comment by thought | 12/23/09 at 1:02 pm

   I think it is rare but there are brokers out there who fight for their clients and that are truthful it just takes time to find them. I think people should start interviewing their brokers instead of just going with someone after one conversation. It is a big transaction and I think there has to be more up front work on both ends.

10. JohnF
    Comment by JohnF | 12/23/09 at 2:54 pm

    Thought, good point.

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