The Boston Herald has a story today regarding the luxury Back Bay condo development the Clarendon. According to the Boston Herald only 25 buyers have signed a purchase-and-sale agreement for the 103 unit high rise.
From the Boston Herald:
Barbara Cusack, the Clarendon’s sales director, acknowledged that she has not put a unit under agreement since mid-September.
“It’s not the building and it’s not the location – it’s the economic climate,” she said. “People are looking but they’re afraid to put money down, because everyone is nervous.”
Units at the Clarendon are competing with 45 Province, 150 luxury condominiums in Downtown Crossing priced from $750,000 to $5 million, and Battery Wharf, where waterfront units fetch from $1 million to $5 million.
When completed next October, the Clarendon will feature condominiums priced from $695,000 for a studio to $4 million for four-bedroom units with sweeping city views. The 32-story complex will also be home to 178 apartments.
Source: Boston Herald