Boston Real Estate

The Clarendon Back Bay is 50% Sold

The Clarendon Back Bay is 50% Sold

clarendon bostonExactly half of the condominium units at the posh Clarendon Boston development on Stuart Street in Boston are expected to be sold by the end of the week, just another sign to some that the Back Bay is downtown Boston's most sought-after neighborhood.

The development recently closed on the 50th of 102 total condominium units. The 51st unit is expected to close Friday, according to the project's sales team. In a market where other high-end condo projects have struggled to sell, The Clarendon's 50 sales should put them in a good place for future financing and gives prospective buyers more confidence in the property, said a local broker that focuses on the downtown Boston market.

Residences in the 33-story tower, which also contains rental units and a restaurant, have sold at an average of $1,150 a square-foot.

Traveling east on Stuart Street, the condos at the W Boston Hotel have experienced increased interest after the property's developers filed for bankruptcy protection. Six units are under agreement and set to close this month, and currently nine in total are scheduled to close before summer. There have been 29 condos out of 123 sold so far at the W Residences Boston, not including those under agreement.

Downtown Crossing's 45 Province has struggled to sell its condominium units, selling just 29 out of 137 residences.

Source: Banker and Tradesman.

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