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Just listing this absolutely stunning Ritz-Carlton Penthouse!

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Simply brilliant! MLS Exclusive at $2,950,000

From Curbed Boston…

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Downtown Boston
Ritz-Carlton Spread’s New Owner Will Live There Two Weeks a Year
Meet Boston’s $4.1M pied-a-terre
BY TOM ACITELLI

The 4-BR, 3.5-BA Unit 19E at the uber-influential Ritz-Carlton Residences in downtown Boston just traded for $4,100,000 after nearly eight months officially on the market. The final going tag represents a significant price-chop from the original asking of $4,350,000; but it still pencils out to one of the biggest sales in Boston so far this year. Plus! According to a source with knowledge of the deal, the new foreign owner of the 3,263-square-foot condo with two garaged parking spaces plans to use it just two weeks a year. Kathleen Cook of Atlantic Associates Real Estae Cook of listed Unit 19E at 2 Avery Street. Have a look around at what might be Boston’s priciest pied-a-terre right now.

Don’t Miss This Meeting…

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Ritz-Carlton Market Review…

As the first quarter of the new year has drawn to a finish, it is time to look at the first three months of 2013. There were  two important factors recently driving the market for condominium homes at the Ritz- Carlton Boston Residences. 

The first was the weather…which could not have been much worse. Who really wanted to be out and about sloshing around the huge snow piles and crusty salted sidewalks? Apparently not the buyers or sellers. You don’t need a weatherman to tell which way the wind blows…right down Avery Street.

The second was the incredible low inventory of available properties on the market. Typically, we would see the Spring market come into bloom just after the holidays, mid to late January.  Not this year. While the buyers have re-appeared, the sellers have not. And it is  a city-wide phenomenon, just ask any broker out there.

 

So let’s see the numbers:

 

1 Avery Street North

There were  3 sales with unit # 34C listed at $1,675,000 and 33  days of the market (DO)  before selling at $1,650,000 ( $1,097 SQFT).

Which was followed by the sale of unit 35D for $2,250,000  ($1,105 SQFT). It was listed at $2,420,000 with 176 DOM.

Unit 20B closed after 149 DOM for $2,799,000 ( $1,049 SQFT). Ask was $3,249,000.

The averages for the  3 sales were : sale price $1,084 per SQFT and 119 Days on the market.

 

Contracts are pending on 4 other North Tower units ranging from $687,000 to $1,475,000.

 

Current inventory shows  5 units on the market asking from to $1,499,000 to $4,250,000 , with an average days on market of 127. The average ask price  per SQFT is $1,249.

Meanwhile across the street:

2 Avery Street South

There was also 3 sales reported with unit  19F  the lowest price at $750,000,  with original ask of $825,000 and 49 DOM.

That was followed by unit  27 H listed at $1,675,000 and then selling for $1,535,000 ($975 per SQFT) DOM were a whopping 854.

Unit 31C asked for $3,395,000 and went out just shy of 6% off ask at  $3,200,000  (1.182 SQFT) but had to wait 268 days on the market.

The averages of the 3 sales are $1,002 per SQFT and DOM of 390.

There are currently 2 homes under agreement waiting on upcoming closings.

 Available listings being marketed as of today number 5 ,with a range in asking from $835,000   to $5,495,000  . These 5 have an average DOM of 376 and an ask of $1,473 SQFT.

 So there you have it… 6 sales closed this quarter and 1o looking for new owners. Happy Spring!

 *All data compiled from MLS

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