Boston’s housing project have condominiums sprouting up in the hottest neighborhoods with steep price tags–and they are priced to sell. A penthouse under construction in Back Bay’s newest developing luxury condominium on One Dalton Street could have a asking price of $40 million.
And it could actually sell. If so, it would break a new record of New England’s biggest home trade in history.
The luxury condominium will be paired with the Four Seasons and will be the tallest residential building in Boston by the end of 2018. It is already visible on Boston’s skyline.
Going back to Boston’s housing project and the Mayor;s effort to add 53,000 new housing units by 2030, this is causing a rent plateau–rental prices are staying stagnant and even decreasing in some areas with new homes becoming available.
If the mortgage interest rate is capped or eliminated, it could lead of prospective home-buyers reconsidering their options and those who are renting staying put.
Boston is still a hot market for Amazon’s second headquarters. Amazon will announce it’s selection for the next headquarters in the spring.
-Allen A Garzone II, Garzone Real Estate, Inc, Boston Real Estate Agent