We began giving coverage to the Claflin Building, a luxury boutique development on Beacon Hill, back in June of 2007. The four-unit development hit the market with some gusto, but the multi-million dollar units failed to move off the market, and were eventually canceled out of the Boston MLS in late October, along with a reshuffling of listing agents by the developer.
As of January 2, 2008 (happy new year), the units are being placed back on the market with updated pricing. Price per square foot on these units range anywhere from $887 to $1,252. The discerning Buyer who desires a classic Boston location is being targeted, and the property steps up with unparalleled views of the State House, and proximity to Boston Common.
Here’s a look at what happened to prices at the Claflin Building:
- Unit 3, at 2,310 square feet moved down from $2,395,000 to $2,050,000
- Unit 4, boasting 2,343 square feet, went from $2,495,000 to $2,225,000
- Unit 5, also with 2,343 square feet, was reduced from $2,550,000 to $2,395,000
- The 3,672 square foot penthouse unit moved in price from $4.4 million to $4.6 million
The Claflin Building (which is now also being called the Residences at Twenty Beacon) was originally built in 1873, converted to condominiums in 1980, and fully renovated in 2007. The exposure tips and tricks outlined in a recent post on Penny Savings Bank should be considered by the new marketing team for the Claflin Building (see What’s Happening at Penny Savings Bank?). For more information on this development, contact us.