Here’s a very simple idea on how to make millions of dollars in Boston real estate.
According to LINK records Mr. Andrew Prague purchased a condo at The Mandarin #12 B on 10/8/08 for $8,700,000.00 with a $4,400,000.00 mortgage from the First Republic Bank.
Yesterday, Coldwell Banker listed Mr. Prague condo at The Mandarin for $13,700.000.00 I don’t know how much money was invested in remodeling the unit, but needless to say I think there might be a million or so left over.
What do you think? Will Mr Prague make a quick million plus on a Back Bay real estate flip?
File Under: Back Bay housing boom