Most Expensive Boston Condo Sold (October)

Would it be surprising to know that there have been ten (10) Boston condos that have sold in the last two (2) months for more than $2,000,000 a piece?  As Boston enters the fall market, the most expensive condo sold in the month of October sets a high bar.  Penthouse unit 21K at the Intercontinental Boston Condo Development sold on October 28, 2011 for $6,000,000

After being on the market for 295 days, with a starting listing price of $6,450,000, the 4,752 square foot duplex broke the $1,200+ price per square foot mark in the Waterfront neighborhood of Boston.

Intercontinental Boston Condo Development

Listed for sale by Jeffrey Goldman of Otis & Ahearn, Goldman describes the listing:

Walking into the 1100 square foot living/dining room of this magnificent four bedroom plus study Penthouse is breathtaking! The spectacular vews of Boston Harbor, 10′ high ceilings, gas fireplace and 500 square foot private roof terrace, make this a rare offering on The Waterfront! Each bedroom, has an en-suite bath and the kind of closet space one can only dream about! With the best concierge services in the city and all the amenities of The InterContinental Hotel at your fingertips!

Interested in making the ultra luxury condo-hotel development home, there are currently 4 units for sale in the building – search all Intercontinental Boston condos for sale.

Intercontinental Living Room Boston

Intercontinental Boston Kitchen

Boston Condo Hotels: Intercontinental

Condo hotel developments, where a single development houses a hotel as well as condo residences, continue to leave their mark on the Boston skyline.  Forerunners in the Boston condo hotel space include the residences at the Ritz Carlton, the Four Seasons, and Rowes Wharf, when in the 1980s, they brought five-star hotel living amenities to downtown residential condos in a tidy and sleek package.  The Boston Intercontinental hit the scene in 2006 with 130 condos that sit above 424 contemporary hotel rooms, enclosed in modern shiny glass along Boston’s Waterfront, approximately 200 yards from the Fort Point Channel’s Boston Tea Party site.

Almost 90% of the Boston Intercontinental residences at 500 Atlantic Avenue have been sold since opening to residents in 2006, and a large handful of developer units, as well as some resales, are currently available for sale.  Construction began on the Intercontinental in late 2004, when there was only a handful of condo hotel developments in Boston. Since that time, we’ve seen several more announced to the market and/or delivered, including, the Mandarin Oriental, Battery Wharf, and the Boston W Hotel.  The Intercontinental boasts a unique location along the Fort Point Channel nestled up against the newly opened Greenway and the bustling Financial District – both the hotel and residences make for an excellent home base for business travelers and financial services workers respectively.

Boston Intercontinental Residences

While some selective slowdowns have occurred in the Boston ultra luxury market, the Intercontinental has held a steady course, and has demonstrated signs of resiliency from a price per square foot perspective over the past 6 months. Over the past twelve months, 16 condos have sold at the Intercontinental:

Condos Sold (Past 12 Months): 16
Average Sales Price: $1,843,418
Median Sales Price: $1,597,000
Average Price per Square Foot: $922
Average Days on Market: 170

Over the past three months, units seem to be lingering longer on the market, but price per square foot in the building has edged up – this may be a function of the fact that the 3 units that did sell were some of the largest and most prestigious units in the building.

Condos Sold (Past 3 Months): 3
Average Sales Price: $2,978,333
Median Sales Price: $2,935,000
Average Price per Square Foot: $982
Average Days on Market: 290

Part of the approximate $1,000 price per square foot values that the Intercontinental is commanding is attributable to the level of service that residents enjoy.  Luxury services include a 24-hour concierge, spa, fitness center, room service, pet-care, and valet parking – as a resident, many of these services are paid for on a continuing basis through monthly HOA fees that average approximately $1.28 per square foot.

There are currently 22 condos for sale at the Intercontinental, with the following statistics:

Condos for Sale: 22
Average Sales Price: $1,633,036
Median Sales Price: $1,175,000
Average Price per Square Foot: $971
Average Days on Market: 178

The least expensive condo for sale in the development is a 421 square foot studio priced at $369,900, and the most expensive currently is the 4,700+ square foot 4+ bedroom penthouse listed at $6.45 million.  8 of the 22 units for sale are under $1 million, while the remainder are over.

Exclusive Russia Wharf Renderings

While the majority of Russia Wharf will be office space, Boston Properties (the current developer) is making approximately 240 residential condo units available to a residential developer.  The condos will be spread across floors 2-7 of multiple buildings, the Russia Building, and the Graphic Arts/Tufts Building – providing a total of approximately 298,723 square feet.  Included in the residential component of the project will be 240 parking spaces.  The building is slated for a 2011 completion, however, the residential units may finish after the office building. Below, the Boston Condo Blog brings you exclusive renderings of the updated design for Russia Wharf – stay tuned for other changes that are slated for this mixed-use Fort Point Channel development.

Russia Wharf

Russia Wharf

Russia Wharf Boston

Fronting the new Rose Fitzgerald Kennedy Greenway, Russia Wharf has had several owners thus far, but regardless, the building is still pressing forward in construction. Russia Wharf will be a mixed use development that will house financial juggernaut Wellington Management, as well as offer approximately 200 residential condo units.

Situated next to the rather new Boston Intercontinental, Russia Wharf will be in good company, and will add to the live-work mix that is developing in the Waterfront area of the city adjacent to the Financial District. With the exclusive photos below, you get a feel for the preservation of historic building exteriors that will be part of the project slated for 2011 completion.

Russia Wharf Construction

Russia Wharf Construction

Russia Wharf Construction

Battery Wharf Condo Pricing

We have been receiving multiple inquiries lately from clients who are in the market to buy at, or are currently looking to sell their current downtown Boston condo and make a move to, Battery Wharf, along Boston’s Waterfront in the North End.

The question that we most often receive is something along the lines of “we have a budget of $X, can you share with us what is available in this range at Battery Wharf and help arrange a tour”. It’s well known that units at this new high-end development command a high price per square foot, with price tags starting in the high six figures. Here’s a rundown of units that are remaining at the (now open) Battery Wharf condo development according to the Boston MLS:

  • Unit 2305, 933 square feet, $825,000, 1 bed 1.5 baths
  • Unit 2303, 923 square feet, $825,000, 1 bed 1.5 baths
  • Unit 2403, 923 square feet, $825,000, 1 bed 1.5 baths
  • Unit 2405, 952 square feet, $825,000, 1 bed 1.5 baths
  • Unit 2307, 959 square feet, $825,000, 1 bed 1.5 baths
  • Unit 2301, 923 square feet, $825,000, 1 bed 1.5 baths
  • Unit 3306, 977 square feet, $1,150,000, 1 beds 1.5 baths
  • Unit 3601, 1,130 square feet, $1,295,000, 1 beds 1.5 baths
  • Unit 4409, 1,375 square feet, $1,650,000, 1 beds 1.5 baths
  • Unit 4503, 1,620 square feet, $1,795,000, 2 beds 2.5 baths
  • Unit 3403, 1,625 square feet, $1,850,000, 2 beds 2.5 baths
  • Unit PH4609, 1,400 square feet, $1,925,000, 2 beds 2 baths
  • Unit 4603, 1,802 square feet, $2,500,000, 2 beds 2.5 baths
  • Unit 3610, 1,745 square feet, $3,000,000, 2 beds 2.5 baths
  • Unit 3311, 2,039 square feet, $3,695,000, 3 beds 2.5 baths

Over the past several months, sales to list price ratios have average close to 98%, a very strong number. For a complete listing package of information on the above-mentioned luxury units at Battery Wharf, including photos, HOA fees, and parking information, please contact us.

Regent Hotel Splits from Battery Wharf

In a rather quiet fashion, the new ultra luxury Battery Wharf condo development had its grand opening, and has seen approximately 60% of its Waterfront inventory sell (more to come on available units). Perhaps in an even less publicized manner, the once planned Boston Regent Hotel will no longer occupy the onsite hotel space at the Battery Wharf development.

It is said that due to “philosophical differences” on strategies for the project, RBW LLC, the owner of the Battery Wharf development, and Carlson Hotels Management Corporation (Carlson owns and manages the Regent brand, as well as Park Plaza and Radisson), have gone their separate ways. RBW is now in negotiations with other hotel operators to manage the new hotel space.

Battery Wharf has raised the bar in the North End Waterfront area with $1,000+ price pre square foot homes, and all of the amenities that come with such a price point. Stay tuned for more news on what hotel brand will join the luxury condos.

Luxury Intercontinental Condo-Hotel Residences

We had the opportunity to tour Waterfront and Midtown properties with John Keith yesterday. Of specific interest was the luxury condo-hotel Boston Intercontinental Residences nestled in between the Rose Kennedy Greenway and the Fort Point Channel.


There are currently 17 units available at the ultra-luxury Intercontinental condo development, built in 2006 – the development houses 130 residences with their own separate (from the hotel) multi-room lobby and 24 hour concierge. Residents are pampered with calm sophistication throughout the development, and the views of both the now green Rose Kennedy Greenway, and the Fort Point Channel, complement the units nicely (see the exclusive photos below).

View from Boston Intercontinental Residences

For Point Channel View from Boston Intercontinental Residences

The 17 units currently available at the Boston Intercontinental are priced from $369,900 to $3,950,000, and range in size from a 421 square foot studio to a 3,020 square foot 3-bedroom 4.5 bathroom duplex. Deeded parking (a coveted asset in the Waterfront / Financial District area) is included with most units, except the studio, and HOA fees run approximately $1.15 per square foot – bear in mind that condo residents have full access to all hotel amenities, including room service, the pool, etc.

For a full listing of units: Current Boston Intercontinental Listings (13.4 MB PDF)

Views are commanding in most units, offering residents either a city center skyline view, or the more calm Fort Point Channel and Seaport District view. For those who want a second home steps from the Financial District, to empty nesters who want every need pampered, the Boston Intercontinental has a lot to offer every demographic. For more information about buying or selling at the Intercontinental, please contact us.


Strada 234 Waterfront Luxury Condos

First it was Wilkes Passage in the South End (see Mass Exodus from Wilkes Passage), then it was the Ritz Carlton towers in Midtown (see Ritz Carlton Flush with Available Condos), now, the 108-unit Strada 234 building adjacent to the North End along Boston’s Waterfront currently has a large inventory of 7 units available for sale. This could be related to the ramp up in the Spring / Summer selling season that is a typical cyclical pattern – this also falls in line with the strong percentage of Boston condo owners who plan to sell within the next several months that was evidenced in our latest Seller reader poll (see Boston Condo Blog Reader Poll).

Strada 234 is a 2004 development that features 24 hour concierge, a fitness room, and garage parking. Current units range in price from $449,000 to $1,259,000, and in size from 675 to 1,468 square feet. Price per square foot on these listings ranges from $506 to $857, with much of the variance coming from unit level and views. See listing details for all currently available Strada 234 condos (Listing Details 11.2 MB PDF).

For more information about these units, or other North End Waterfront condos, feel free to contact us using the link at the top of this page.

When Will Battery Wharf Open?

You’ve seen the ads in various magazines and newspapers, the one looking out over Boston Harbor with a caption alluding to “this view is taken”, you guessed it, none other than Battery Wharf. An update regarding the opening of these luxury condos along the Waterfront is that the first residential units are scheduled to close late February or early March. There is an existing inventory of 44 units, starting at just over a million dollars (60 units are Under Agreement).


Several Options at Luxury Strada 234 Condos

A luxury development that oftentimes does not get its due, Strada 234 in the North End along the Waterfront, now has two units available as we approach year end. Strada 234 is a 108-unit development that was completed in . A new unit on the 8th floor just hit the market today, a 1+ bedroom 1,125 square foot unit with floor to ceiling windows that faces the city with southern exposure – priced at $729K ($648 per square foot) and does include one deeded garage parking space. The $1,013 condo fee includes Heat, Hot Water, Water, Sewer, Elevator, Exterior Maintenance, Landscaping, Snow Removal, Exercise Room, and Valet Parking.

There’s currently one other unit in the building that is also available, rather than just hitting the Boston MLS today, it has been sitting on the market for 317 days. Also on the 8th floor, unit 802 is a 940 square foot 1 bedroom that was priced at $519,000, and through various price reductions, is now priced at $429,000, and the listing agent states that the “owner needs to sell”.  HOA fee for this unit is $521 per month.  At $450 per square foot, this may be one of the better buys in the Waterfront area, especially with the amenities available at Strada 234.

For more information on either unit, or other North End / Waterfront Boston condos, please contact us.

Strada 234 Boston Condos