A tale of two cities condo developments, 45 Province Street and FP3.

FP3 Boston Condo Developement:
Condos sold: 34
Avg. $: $426,778
Median $: $393,500
Avg. $/SF: $478
Last sales: Two units were recorded on December 1, 2009.

45 Province Street Condo Development
Condos sold: 15
Avg. $: $1,501,817
Median $: $1,304,000
Avg. $/SF: $1,008
Avg. DOM: 294
Last sale: September 3, 2009 purchased by Wynn Hotel Limited.

First question: How long can 45 Province Street hold out before they need to go to auction? Second question: Can FP3 actually make a profit with a selling price of $478.00 per sq ft? If so, that’s great.

One last thought: It seems if Boston developers build condo developments priced in the $400,000 range, they willl sell.

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