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Boston Condo Goes for Record

Posted by Scott Van Voorhis August 13, 2014 01:44 PM

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Four Seasons, luxuryboston.jpg

A condo sold at the Four Seasons came close to hitting the $3,000 a square foot mark.

That's the word from Kevin Ahearn, chief executive of one of downtown Boston's leading luxury marketing and condo sales firm.

Unit 1201 at the Four Seasons, fetched $10.5 million back in May in a quiet deal involving only a few brokers.

The final sale price weighed in at $2,908 square feet for the four-bedroom, three-and-a-half bath penthouse.

That's the highest amount paid to date, on a per-square-foot basis, for a Boston condo, Ahearn believes.

"Big jumps in pricing are occurring," Ahearn said. "We don't see any slowdown, in fact we see an acceleration."

At 3,525 square feet, the Four Seasons condo is the size of a large suburban home, but with with upper floor views of the Back Bay and Public Garden.

Given just a few months ago all the hype in the market was about a few units that managed to break the $2,000-a-square-foot mark, Boston condo prices are clearly on a tear.

The Four Season penthouse was last sold in back in the summer of 2000 for $6.3 million - some pretty decent price appreciation there.

"It is indicative of very significant upward pressure on prices," Ahearn said.

Well you can say that again.

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

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