You have more than likely seen the advertisements, walked by and/or stopped into Tower Records Virgin Megastore Best Buy on the ground floor of this loft-style condo development, you guessed it, 360 Newbury, at the intersection of Massachusetts Avenue and Newbury Street.
There is currently one unit remaining in this luxury development of 54 high-end condos with soaring ceilings, huge windows, high-end finishes, and a sophisticated loft feel. 360 Newbury, a Frank Gehry design, renovated in 2005, and the remaining unit, penthouse number 7, has been on the market for well over 200 days. It’s a 2,062 square foot, one-bedroom two-bathroom $1.795 million unit that does not come with parking, and has gone through a $200K price drop this year alone.
What’s keeping this unit from selling? The $870 price per square foot is somewhat typical of high-end concierge buildings in the Back Bay. The HOA fee of approximately $1,000 a month sounds relatively high, but 50 cents a square foot is a fair price given the amenities. The views, amenities, and craftsmanship are stellar in the unit. What’s missing? Parking – we hear repeatedly from buyers that they have no desire to drive around the neighborhood looking for a parking spot when they come home at night (especially if they are paying more than $1 million).
The Listing Brokerages, Otis & Ahearn, are currently offering the brokerage who represents the Buyer on the unit a $25K gift certificate to Best Buy. Boston Condo Guy would be committed to putting those funds towards the purchase or rental of a parking spot in the Back Bay area, please contact us more details about penthouse number 7, and the possibility of including parking in the purchase.
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Tim Ryan 
