FP3, a large-scale new construction and redevelopment building in the heart of Boston’s Seaport District, has seen a spike in sales during the month of July. Three units have sold in July, practically doubling the total 2009 unit sold count to 7. Sales statistics for the 3 condos represent a trending upward in average sales price and price per square foot.
Average Sales Price: $455,547
Median Sales Price: $426,640
Average $/SF: $472
The spike in sales may have been attributed to several price adjustments that took place in the April 2009 timeframe Furthermore, the increase in average sales prices and price per square foot in the face of price reductions can mainly be attributed to previous statistics being heavily influenced by the recording of affordable housing sales in the building.
LINK, one of Boston’s two MLS systems, shows that 20 units have sold at FP3 Boston, which represents approximately 22% of the building. In addition to FP3, there are approximately 10 other condos for sale in the Seaport District, priced from $589,000 to $3,100,000 in Channel Center, Fort Point Place, and Dockside Place, all of which are loft-style condo buildings.