Boston W Hotel & Condos Readying

The pedigree of Boston’s luxury condo-hotels began in the 1980s, with the launch of condos linked to the Ritz (now the Taj), Four Seasons, and Boston Harbor Hotel’s Residences at Rowes Wharf.

The Boston W Hotel & Condos was the last major condo construction project in Boston to be fully financed before the global economic downturn hit, and when it launches at the end of this year, it will be the final large-scale condo development that hits the market for the next 2-4 years,  With the mystique of the global W brand, it is one of the most highly anticipated projects the city has seen.

Some quick facts about the Boston W Hotel & Condo development being built at 100 Stuart Street in Boston’s Theatre District include:

  • The Hotel (on the lower floors of the building) is scheduled to open in the September / October 2009 timeframe.
  • Buyers will begin to move into the Boston W condos in approximately 5-6 months.
  • Condo openings will take place in two phases, with lower floors opening first, spread out over the December 2009 / January 2010 timeframe.
  • Percentage of units Under Agreement (including penthouses) is relatively strong, especially in light of the building being marketed for just six months.
  • Current preconstruction prices range approximately from $430,000 for a studio to $4,550,000 for one of the largest penthouses, with price per square foot ranging from $700 to $1,400 depending on floor level, unit type, and location within the building’s footprint.
  • Studio units and smaller one-bedrooms are not accompanied by a deeded parking space in the onsite underground garage.

Condos at the W will begin on the 16th floor, and top out at the 28th floor penthouse. The approximate 235 hotel rooms will be on lower floors, which garners condo residents preferential city views. Floors 16 through 27 will house 9 to 10 condos per floor, including an occasional 520 square foot studio unit, while the penthouse level will be home to 5 generously sized condos.

Interior condo buildout is presently underway, and customizations, including the combining of units, is being entertained – something that would be much more difficult (and costly) as the building is completed.

Boston W Hotel

Comments

  1. thanks for the update.

    what does ‘strong’ mean exactly, for the % of units currently under agreement. it would be very helpful to know.

    thank you! 🙂

  2. realeobserver says:

    “Percentage of units Under Agreement (including penthouses) is relatively strong”…what defines “strong” and how come they won’t give a percentage? 45 Province misled everyone by claiming “strong” sales..e.g. On 3/25/09 their sales director said she had NON-refundable deposits for 30% only to be corrected three months later by the chief developer…oops actually 20%…and now that the building has people moving in the most recent article indicates that the number may be closer to 10%.

  3. Anthony Longo says:

    15% Under Agreement – with more reservations being negotiated currently (I was just in there last week with a client). Hope that helps.

  4. realeobserver says:

    thanks Anthony. My experience is that if they say “15%” it’s probably generously rounded up from some smaller figure. Whenever developers have told me that reservations are being negotiated, more then half fall through and a small percentage go forward. Time will tell if they are indeed giving 100% accurate numbers…lets see.

  5. bostonian says:

    I think the real story here, or at least the more interesting angle, is the idea that after multiple years of numerous big condo buildings coming online, the W Boston will be the “final large-scale condo development that hits the market for the next 2-4 years”. Very interesting.