From the Boston Condos for Sale Blog:
In what seems to be a developing trend, the Macallen Building in South Boston is beginning to offer a sizeable chunk of its remaining inventory (still owned by the developer, Pappas Properties) for rent. Certain units have been identified as rentals, however, in effect, the entire inventory also remains for-sale, and for-sale prices have been dropped substantially all the way into the $400 per square foot range – in light of the economic downturn, rentals appear to be the best option for the Macallen and their current specials show that they are serious about having them rented fast.
The developer is asking $2,200 for a studio, $2,250 of a loft/one bedroom, $3,500 for a two bedroom and $6,900 for a three bedroom.These rents seem very high for South Boston. My parting words to the developer…. Good Luck
