The third-tallest building in Boston isn’t only raising Boston’s skyline—it’s raising prices, too.
The shining glass box known as Millennium Tower is one of the main reasons median condo prices in Boston have soared this year. According to the Boston Globe, condo prices in downtown Boston hit record highs in the third quarter. The median price? Just under $1 million—a whopping $913,500. The Globe reports it’s 43 percent higher than last year’s median.
The numbers were kicked into high gear thanks to the average price for a unit in Millennium Tower: $1,400 per square foot. As of late September, more than 40 units near downtown costing $2,000 per square foot or more had sold in 2016. The priciest sale of all has been Millennium Tower’s penthouse, which sold for $33 million, the highest price Boston has ever seen for a condo.
The Globe notes that even if the tower was out of the picture, prices still rose 12 percent. You can’t blame the Millennium for everything, but you can expect to pay sky-high prices to live downtown—at least for a while, anyway.
Source URL: https://www.bostonmagazine.com/property/2016/10/27/condo-prices-boston/
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