We’ve been receiving inquiries related to the latest sales at FP3. Over the past 6 months, according to LINK (which does a scan of the Registry of Deeds on a regular basis), the only units that have closed in the building have been the affordable housing units. Condo developers, by choice, opt-in to the affordable housing program sponsored by the Boston Redevelopment Authority (BRA). FP3 participated in the affordable housing program, and units deemed affordable went to a lottery and since have closed – no further affordable housing options are available at FP3.
On the market-rate front, list prices were lowered on several units this week. For instance, unit 311, an 850 square foot one-bedroom one-bathroom was reduced from $489,000 to $449,000, unit 205, a 1,031 square foot one-bedroom two-bathroom unit was reduced from $599,000 to $499,000, and unit 215, a 1,382 square foot two-bedroom two-bathroom unit was reduced from $719,000 to $699,000. According to LINK, 16 of the 92 loft-style condos at FP3 have sold (17%).