RadioBDC Logo
Keep Fishn' | Weezer Listen Live
 
 
< Back to front page Text size +

Harbor Towers saga

Posted by Kimberly Blanton December 7, 2007 04:20 PM

E-mail this article

Invalid E-mail address
Invalid E-mail address

Sending your article

Residents of Harbor Towers, the Brutalist-era condominium building with some of the city's best views of Boston Harbor, are close to coming up with the $76 million assessment to fund badly-need maintenance.

So far, about about $68 million -- 89 percent of the total -- has been collected from residents, according to Bill Packard, a Coldwell Banker agent in downtown Boston who owns a rental property in the building. Payments were due Nov. 29. Individual unit fees range from ranging from $70,000 to a budget-busting $400,000.

"It's probably the largest building assessment on record, in Boston at least," said Packard.

As for the 11 percent outstanding? Those residents will be charged 1 percent penalty per month and will be forced into foreclosure proceedings if they fail to respond within 60 days.

Trustees are said to be dealing with hardship cases, and some residents have been able to work out payment plans.

"It's a protest. they're slow payers," Packard said.

This blog is not written or edited by Boston.com or the Boston Globe.
The author is solely responsible for the content.

E-mail this article

Invalid E-mail address
Invalid E-mail address

Sending your article

About boston real estate now
Scott Van Voorhis is a freelance writer who specializes in real estate and business issues.

Latest interest rates

SPONSORED
RE by the Numbers
Mortgage Q&A: How do I convert my primary residence to a rental?
Today's article comes to us from a question posed by one of our readers. We love answering our reader's questions whenever possible. Should you want...
archives