Luxury Back Bay Penthouse Reactivated

The Back Bay is no stranger to ultra luxury real estate listings, and the penthouse unit at 294 Newbury Street (known as the Providence on Newbury) sets the luxury bar high overlooking Newbury Street shopping and dining.  If the seen and be-seen oasis of the Back Bay’s Newbury Street is right for you, the direct elevator access penthouse unit at the Providence offers high-end living both inside and outside, along with adjacent alley parking.

Originally listed for $5,000,000 on April 15, 2008, the penthouse unit stayed on the market for 132 days before being canceled on August 25, 2008.  At that point, the listing was put back into the Boston MLS system at a new price point of $3,995,000.  The condo appears to be on a month-to-month listing, as it has gone expired and reactivated on the 1st of October, November, and now, December.

294 Newbury Street Dining Room

We first toured this building in the height of construction in May 2007 (see Providence on Newbury Condos), and the building, and especially the penthouse, has come a long way in fulfilling the developer’s vision.  The hot tub, grill, and audio / video capabilities on the 70+ square foot outdoor deck overlooking Newbury Street caps this unit off.

However, the penthouse unit at 294 Newbury Street currently has some stiff competition in the Back Bay luxury condo market, with nine resale units available at the recently opened Mandarin Oriental.  In fact, on a price per square foot basis, the Providence on Newbury penthouse is more expensive than the three Mandarin Oriental condos under $5 million listed below.

  • E-10H 1,437 square feet 2bed 2bath $2,200,000 (1 parking space)
  • E-9F 2,557 square feet 2bed 2.5bath $2,554,000 (1 parking space)
  • E-11F 1,830 square feet 2bed 2bath $3,050,000 (1 parking space)

Choices abound in the Back Bay, and throughout the city for that matter, allowing buyers to be quite particular about what they purchase.  As it relates to the Providence on Newbury, if a boutique feel and easy access to shopping and dining is a must, as well as the hustle and bustle of downtown life, it’s worth your consideration.

294 Newbury Street Master Bath

Recently Sold Condos at 360 Newbury

Since it was converted in 2005 to a luxury loft-style condo development, 360 Newbury in Boston’s Back Bay has been coveted as a true urban oasis.  On the southeast corner of Newbury Street and Massachusetts Avenue (above Best Buy), the 360 Newbury development greets residents with a sleek concierge-served lobby off of a Newbury Street entrance, and condos boast downtown skyline views, and high-end finishes and fixtures.

Boston 360 Newbury Lobby

In 2008, there have been two 360 Newbury condos that have sold, and there is currently one on the market for sale. Average price per square foot for the units that sold in the building was approximately $767.  Unit 405, a 1,342 square foot two-bedroom two-bathroom unit sold for $1,125,000 after 47 days on the market, and unit 603, an 847 square foot one-bedroom one-bathroom condo sold for $590,000 after 52 days on the market.  Neither of the units came with a parking space.

Turning to the present, unit 508, a 1,141 square foot one-bedroom two-bathroom unit is listed at $885,000 ($776 per square foot), and has been on the market for 21 days now.

Boston 360 Newbury Unit 508

Boston 360 Newbury Unit 508

New Listing Available at The Prince

In addition to the shopping and ice cream on Newbury Street there are several condo developments, including 360 Newbury and the Prince.  The Prince is a 36-unit development at 201 Newbury Street that does not see a tremendous amount of turnover.  However, earlier this month, unit 506 at the Prince, a 2 bedroom 2.5 bathroom condo sold for $770K after being on the market for almost 6 months – at 1,314 square feet, the unit offered a competitive $586 Back Bay price per square foot. Additionally, unit 309 at the Prince, a 1 bedroom 1 bathroom is currently Under Agreement after being listed for only 8 days at $687,500 ($700 square foot) .

The most recent listing at the Prince, unit 302, represents a rare opportunity to purchase a true Newbury Street condo (Newbury and Exeter Streets) in a concierge building.  Priced at $835,000, this is the two bedroom Back Bay condo that many are searching for, boasting 2 bedrooms and 2 bathrooms along with 1 fireplace spread over 1,097 square feet ($761 per square foot) with a common roofdeck.  The $699 monthly HOA fee includes heat, hot water, master insurance, security, elevator, landscaping, and snow removal.

For more information on the Prince condo development, and other Newbury Street condos, please contact us using the link at the top of this page.

Prince Newbury Street Condos

Prince Newbury Street Unit 302

Prince Newbury Street Common Roofdeck

The Prince on Newbury Street Open House

Newbury Street, the always good for people watching trendy shopping and eating lane of Boston, is home to the Prince condo development at 201 Newbury Street. There are 36 units in this concierge served building with a common roof deck, and Unit 506, is currently available for sale.

Unit 506, with a loft-style feel, offers 1,314 square feet spread across a duplex corner of the building with 2 bedrooms and 2.5 bathrooms. Currently listed at $959,000 after a price reduction this past Thursday, this loft-style unit in the heart of Boston’s Back Bay is worth a ride in the elevator up the the condo. One deeded parking space is included, a coveted piece of property in the Back Bay, with spots oftentimes garnering in the six figures, or close to it.

The Featured Open House will take place at 201 Newbury Street on Sunday, March 16, 2008 from 1:30 PM to 2:30 PM. For more information, or to setup an additional private appointment for a second showing, please contact us.

Prince Condos on Newbury Street

360 Newbury Penthouse Finally Sells

It was back in October 2007 that we wrote a blog post on the single remaining developer’s unit at 360 Newbury (see One Condo Left at 360 Newbury…Still). Originally priced at $1,995,000 when it hit the market in early February 2007, and after going through a significant price reduction, was finally sold on December 31, 2007 for $1,530,000.

360 Newbury, the 54-unit luxury development in Back Bay, is now completely resale as units become available. Currently, one unit is for sale in the development (see Resale Opportunity at 360 Newbury).

Resale Opportunity at 360 Newbury

With the final penthouse at 360 Newbury still languishing on the market (see One Condo Left at 360 Newbury…Still), a new resale opportunity has come along. Unit 405 at 360 Newbury is a 1,342 square foot two-bedroom, two-bathroom unit listed at $1,250,000 ($931 per square foot). For comparison, the remaining penthouse unit is priced at $870 per square foot.

360 Newbury is an iconic building built in 1918 and renovated in 2005 that sits at the southeast corner of Newbury Street and Massachusetts Avenue. Designed by Frank Gehry, the building houses luxury condominiums, a T stop, and a three floor commercial space (currently occupied by the Back Bay Best Buy).

Unit 405 was purchased just over a year ago for $1,005,000. 360 Newbury is one of the anchor condo developments in the Back Bay, however, the double digit appreciation that the Seller is striving for is bold. For more information on either of the available units at 360 Newbury, please contact us.


One Condo Left at 360 Newbury…Still

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.

360 Newbury Condos

360 Newbury Condos

360 Newbury Condos

Providence on Newbury is Shaping Up

The Providence on Newbury photo immediately below was taken in the May 2007 timeframe, when heavy construction was still ongoing at the Providence on Newbury condominium development located at 294 Newbury Street in Boston’s Back Bay.

Providence on Newbury

Fast forward to the present, and you can see by the below exclusive photo that work has progressed nicely, along with newly planted grass, and the removal of the ugly construction fencing.

Providence on Newbury

The Providence on Newbury is a 7-unit high-end condo rehab project in the heart of Back Bay’s trendy shopping and restaurant row. The grand penthouse was never available due to it being held by a family member of the development team, however, the remaining units have gone somewhat quickly, and a single two-bedroom two-bathroom 1,550 square foot unit remains. Priced at $1,430,000, the unit comes with parking, direct elevator access, subzero/wolf kitchens with an indoor grill, oak floors, marble baths, laundry in unit, central heating and air conditioning, an open floorplan, great condo association with strong initial reserve. and 9 windows on Newbury Street.

Previously sold units in the boutique development are commanding strong sales to list price ratios with Unit 3A, a one-bedroom listing for $565,000 and selling at $569,000, and Unit 2A, a two-bedroom two and a half-bathroom listing for $1,425,000 and selling at $1,400,000.

Condo fees for the remaining two-bedroom unit in this 1885 original construction building are $616. For more information, or to setup a showing, please contact us.

Below are several photos of the very tastefully done Unit 2B, note that the Providence on Newbury has indeed received their Certificate of Occupancy, so this one remaining unit is move-in ready.

Providence on Newbury

Providence on Newbury

Providence on Newbury Condos

A fair amount of the noise on Newbury Street in the Back Bay can be attributed to the progress that is being made at the seven unit luxury development at 294 Newbury Street called the Providence on Newbury. We had the opportunity to stop into the development this week, and work is steadily progressing.

Providence on Newbury Condos

The Providence on Newbury is made up of three buildings on Newbury Street. The ground floor and basement units will house at least three retail clients (no restaurants) , while the upper floors will house four one-bedroom, two two-bedroom, and one penthouse condo, all served via a central elevator.

Each condo comes with at least one parking spot, custom cabinets, marble baths, and high-end appliances. The two two-bedroom units have excellent ceiling heights, and grand views of Newbury Street.

The penthouse unit, priced not-to-sell at $5 million will boast a plasma TV in every room, ultra high-end finishes, and an 800+ square foot roof deck (one of only two Newbury Street roof decks that is right on Newbury, rather than set back off the street slightly) with an eight person hot-tub, four season ecosystem for the green thumb in all of us, full kitchen, and you guessed it, a plasma TV (yes, outside).

Units are slated to be delivered at the end of July 2007. There is only a single one-bedroom unit that remains, and both two-bedroom condos remain for sale. If you are looking to be “in the thick of things” in the Back Bay on the heart of Newbury Street, the Providence on Newbury Condos give you that experience at just over $900 per square foot.