Some of you may remember a few weeks ago there was an article in the Boston Courant about could the city reach a price/sq.ft. of $2,400. As many readers of this blog and those familiar with what’s happening here in the Boston real estate market know that this is the hottest housing market we’ve seen in years. As a result, I believe the question is not if we can hit $2,400, but when and furthermore can we hit $3,000?
In 2012 Penthouse B at 100 Beacon sold for just over $2,200/sqft. So far in 2013 we have already seen a unit at 3 Commonwealth Ave. trade for an even higher price per square foot with many others still on the market.
It may come as no surprise to some of you that the current high price/square foot listing is at the Mandarin Oriental. The 12th floor unit comes in at just under 5,000 square feet separated into a 3 bed 2 and half bath home with 2 parking spaces and additional storage. The home is priced at a little more than $2,700/square foot. Another unit in the building is also currently for sale for more than $2,400/square foot. (pictured below) These kinds of prices can only mean $3,000/square foot is close by.