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Clarendon PH Deal Confirms Two Boston Real Estate Trends

Everyone knows that that gobsmacking penthouse at the Clarendon, once asking $7,100,000 and featuring one of the more dictatorial terraces in Boston history, is now on the rental market for $35,000 a month (plus commensurate security deposit). Now we know, too, what it traded for on its journey toward the second-highest rental tag in town.

In a deal that closed just yesterday, the 3-BR, 3.5-BA, 3,545-square-foot penthouse on the 31st floor was bought by "a good old empty-nester moving from the suburbs to the city," according to someone with knowledge of the sale. As we've noted before, much of prime downtown Boston has become one big empty-nester playground of cultural and culinary wares enwombed in general safety with a public-transit system, though wheezing, that can get you from Point A to Point Early-Bird Special.

Moreover, the penthouse, which the new owner plans to move into in a year (thus the rental listing), sold for $600,000 off its last listing price of $7,100,000. That's been the way of things generally in higher-end Boston real estate: price-chops before closing, but tags nonetheless that give pause and spill ink (virtual or otherwise). After all, the penthouse's closing price per square foot was a stunning $1,833.57, more than twice the median for Back Bay penthouses.
· Listing: 400 Stuart Street, #PH1 [William Montero]
· That Palatial Clarendon Penthouse Just Went Rental [Curbed Boston]
· Downtown Boston Is Just One Big Empty Nest [Curbed Boston]
· Boston's Luxury Market: Hold the Champagne, Grab the Cava? [Curbed Boston]
· Why Back Bay Condos Sell For What They Sell For [Curbed Boston]