Boston Proper condo prices have barely moved, even as the sales market has slowed. Sellers are stubbornly keeping their prices high, although inventory has risen almost 50%, over the past sixteen months.
Not everyone is having trouble finding buyers.
My old friends at Coldwell Banker are the sales team behind David Goldman’s (and Peter Georgantis’) South End project, The Modern, at 255 Northampton Street (in the South End’s “Bookend” neighborhood).
There are 25 condos in the development. Ten are said to be under agreement. Prices run about $550/SF (unheard of, for that area), from the mid-$400,000s to the mid-$600,000s.
Now, the developer has actually increased prices, on some of the remaining units.
Not that uncommon, with pre-construction, but certainly a sign of good interest in this project. Perhaps the market, overall, stilll has some strength, too.
From the MLS Description:
Garage Parking. Elevator. Private terraces. Zen roof deck with kitchen & artist workspace. Dennis Duffy designed common areas, kitchens, and baths. HW floor upgrades. Sleek and flexible living spaces due for occupancy Summer 2007. 1 & 2 beds as well as lofts.
Developer’s website: The Modern