July has been a hot month for the new 23-unit boutique luxury condo development at the northeast corner of Washington Street and Union Park Street, Penny Savings Bank. The new condo development now boasts 6 of its 23 units as sold, and two residents have moved into the circa 1917 former bank and started calling it home.

The lobby is in the process of being finished off, and units are receiving their final touches, but the building is open to residents, and a good mix of floor plans are still available, with prices ranging from the mid $600’s to north of $1 million. The two commercial units on the ground floor of the development, along the Washington Street side, have been leased out to Citibank and the October 2007 planned French Asian eatery, Banq Restaurant.

Several units in the development have private terraces, and all residents will enjoy the common roof deck, offering stellar city views. Units at Penny Savings Bank are stacked with Viking appliances throughout the kitchen, contain washer and dryer hookups only, and will offer relatively low HOA fees, ranging from $300 – $500 per month – the HOA will be managed by Boston’s Urban Property Management.

Parking spaces are available for sale in the garage directly below the building. A single space will run you $65,000, and a tandem sleeve will run you $95,000. Having a parking space would offer you the possibility to build a storage unit, should it be up to city code.

If you are interested in calling one of the landmark properties of Boston home, please contact us for more information – we have access to Penny Savings Bank, as well as every single existing condo and new condo development for sale in the city of Boston.

In the exclusive picture below, notice that the former Silver Line bus kiosk has been removed from the front sidewalk.

With just under two weeks until the July 12th grand opening of the completely redeveloped Penny Savings Bank in the South End of Boston, over 15 units remain in the 23-unit boutique condo development. Lofts start at $665,000 and prices and sizes move up from there – buyers have a large inventory to choose from at this point (somewhat of a concern to developers no doubt, especially considering other luxury properties across town have shown much higher pre-sales rates, including Madarin Oriental, Battery Wharf, and the Macallen Building, all of which have had solid reservations before opening).

Penny Savings Bank is a SOWA condo development that encompasses the redevelopment of the original 1917 two-story white marble bank building along with a new three story contemporary glass addition (see below for glass addition photo). Penny Savings Bank will definitely represent one of the more iconic properties to take residence in once it opens in July – much like the D4 Police Station Condos, you’ll be moving into a landmark property of the early 20th century.

Contact us for more information on the Penny Savings Bank condos.

Just a quick update on the Penny Savings Bank condo development in the South End of Boston. The redevelopment of the early 20th century bank into 23 luxury condominiums is progressing nicely towards its July 15, 2007 occupancy date.

Currently, only 6 units have sold, leaving a wide variety of condos available for sale (large loft spaces, one-bedrooms, two-bedrooms, and two-plus bedrooms). Deeded garage parking and outdoor space is available. For more information, or to place an offer, please contact us.