The luxury condo market is poised for another record-breaking year. With an unprecedented number of high-profile new developments in the pipeline, buyers are snapping up the ultra-luxury inventory as soon as it hits the market.
Today the Boston Globe reported that ‘Boston can’t build ultra-luxury condos fast enough.’ The excerpt below highlights some of the projects at the forefront of the new luxury landscape.
While the new Millennium Tower won’t open until this summer, most of the skyscraper’s 422 condos are already reserved by buyers, with the recent announcement of the sale of the tower-topping penthouse, which had been on the market for $37.5 million, the icing on the cake.
The new Four Seasons tower (One Dalton) has opened sales office, with its 180 “ultra high-end” condos, some of which have the potential to break the $20 million mark, expected to go fast as well. Brokers representing the developer have already been quietly marketing the uber-luxury condos to “family and friends.”
On the Seaport/Innovation District waterfront, a trio of new super luxury condos high-rises is getting teed up. After selling out 22 Liberty, a 120-unit condo tower at Fan Pier, longtime waterfront developer Joe Fallon has begun work on his next project, 50 Liberty.
Next door at Pier 4, New York developer Tishman Speyer is hoping to break ground soon on a curved, glass 9-story super luxury condo building with 100 units.
Over in the Fenway, work is well underway on the Pierce, a 30-story tower with a mix of condos and apartments, while in the Back Bay, plans for a new condo tower that would soar over the Copley Place Mall and Copley Square have been in the works for years.