Ten of the 25 units at The Modern, a condo development at 255 Northampton Street, in Boston’s South End, were sold before the developer chose to go the auction route. The date was set, tours were completed, bids were prepared, then the auction was canceled, due to lack of interest or “heated response”, depending on whom you ask.
Several of the remaining units were listed in MLSPIN, this morning. Meaning, they are back for sale.
I haven’t compared old prices to new, but I assume there has been at least some modification.
These are good homes for the first-time homebuyer. Even better, if you are an investor. I feel there is value in buying one and renting it out, if the math works for you.