By picking a public battle with him.

Does Don Chiofaro really think he’s going to influence Mayor Meninio this way? Does he think a judge or jury will overturn the BRA’s decision on his proposed waterfront tower? There are a lot of things to get upset about when it comes to development projects in Boston. It’s always been a tough (too tough) place to build. The same goes for all of Massachusetts.

But this isn’t going to help.

File under: Boomerang.

Boston luxury Waterfront condo sales from 1/1/08 – 5/14/08
Number of Boston luxury condo sales – 62
Average Boston luxury condo sales price – $1,289,748.00
Median Boston luuxry condo sales price – $1.062,500.00
Average days on the market for a Boston Waterfront condo -104

The numbers above compared to Boston luxury Waterfront from 1/1/09 -5/14/09
Number of Boston luxury condo sales – 24
Average Boston luxury condo sale – $1,000,083.00
Median Boston luxury condo sale price – $807,500.00
Average days on the market for a Boston Waterfront condo -162

Click here to view Boston luxury condos for sale

With most of the heavy lifting of a 2007-2009 systems renovation project completed, Harbor Towers has become a haven for Boston Waterfront renters. Whether it was the cost of the special condo fee assessments, the state of the real estate market, or a mixture of both, there is no doubt that more condos are available for rent at Harbor Towers now than ever before. According to MLS only 7 condos were rented in 2006, in 2007 that number was pushed up to 19, and in 2008 to 25. While these numbers are imperfect -not all rentals are reported through MLS – they are indicative of a trend.

Currently there are 25 rental apartments on the market at Harbor Towers. Apart from the two large penthouse units available for $10,000 and $11,000 per month – most units are 1 or 2 bedrooms and range between $1,700 and $4,500. The units are most closely comparable to those at Emerson and Longfellow Place at the West End Apartments in that they generally offer parquet floors, galley kitchens and lots of space. However, at Harbor Towers every unit has its own personal touches added to it by unit owners – some have granite counters or an open kitchen. What brings most renters and buyers to Harbor Towers are the panoramic views of the harbor and the city from two of Boston’s tallest residential buildings. The harbor side pool certainly adds to the appeal for renters, and with the additional supply of available units, the prices have become more affordable.

Source: The Boston Condo Blog

1st Q 2008 Waterfront condo sales:
Number of sales – 31
Avg sales price – $1,079,303.00
Median sales price – $950,000
Avg price per sq ft – $686.00
Days on the market – 110

1st Q 2009 Waterfront condo sales:
Number of sales – 22
Avg sales price – $910,909
Median sales price – $768,520
Avg. price per sq ft – $620
Days on the market – 178

Source: LINK

The following information was obtained by LINK:

January Sales:

Jan ‘07 median price Boston Waterfront condo – $1,100,000.00

Jan ‘08 median price Boston Waterfront condo – $567,500.00

Jan ‘09 median price Boston Waterfront condo – $768,500.00

I know you can’t read too much into this since it’s been based only on one month. I still thought it was interesting.

How does that saying go: What goes up must come down What goes down must go up