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.
Keith Munsell 
How is the quality of the management in this building – is it still off site? Does the concept of just having a concierge work out well for a building of this type?
Hi Sue. Just my two cents, and to be upfront about it, I haven’t actually looked at units at 360 (a little too pricey for me when you consider the fact that there is no parking onsite). However, I don’t really think that onsite management is necessary in a building of that size. I have seen a bunch of units over at 21 Wormwood street in the Seaport District. The building has around 120 units if I remember correctly, and the management is offsite. They do have a full time superintendent and an outsourced cleaning crew and the building seems to be really well maintained. In my experiences, I haven’t seen many buildings with a hundred or so units that have on-site management. The Brook House in Brookline on the other hand has a full time staff onsite but you are talking about a 700 unit compound.
The grounds at 360 are pretty scarce, and there really isn’t a lot to maintain in that type of a building. I would think that management is going to be pretty exceptional there, as that is what a management company might consider to be their ‘marquee’ property (when bidding for other management gigs, I am sure that 360 is at the top of their resume). The nice thing about it though is that if at any point the residents feel they can do better elsewhere, they can always drop the current management and bring in another company that they feel will better meet their needs.
Note: I have also seen it happen the other way around. I used to live in a building in Allston that the management company actually dropped, as they claimed that the tenants complained too much!