Availability in several downtown Boston condo developments remains somewhat elusive, and in the Back Bay, that would include two-bedroom units in the Belvedere, Trinity Place, and at times, 360 Newbury. On August 17, 2009, a two-bedroom unit in 360 Newbury sold for $1,085,000 ($709 per square foot), it had been since February of 2008 that another two-bedroom unit had been available in the contemporary large-window high-ceiling building that sits at the southeast corner of Massachusetts Avenue and Newbury Street.
It’s now down to a single condo available at the 54-unit 360 Newbury development, a 1,626 square foot two-bedroom unit that has a host of high-end upgrades, but that has been somewhat slow to sell possibly due to the custom upgrades and the upper echelon price per square foot into which the unit has been placed.
Unit 511 at 360 Newbury is currently listed for sale at $1,499,000 ($922 per square foot) and offers two-bedrooms two-bathrooms and boasts double exposure as a corner unit. Arclinea cabinetry, Bosch, Miele, and Sub-Zero appliances adorn the kitchen, and a custom sculptural wood wall and custom foyer built-ins add uniqueness to the already award-winning 360 Newbury building architecture.
The custom upgrades abound, along with practical ones like electric window shades, but where unit 511 seems to be getting hung up is on the price point. The three units that have sold in the building over the past 12 months have an average price per square foot of $741, while unit 511 is currently (after a price reduction in July) at $922.
Regardless of the exquisite upgrades and custom finishes in the unit, which do deserve a price premium over other units in the building, it’s no surprise that the sale of this particular unit is undergoing additional scrutiny by potential Buyers.