By a margin of just three votes, you deemed these five new townhouses at 109-123 Dresser Street in South Boston crazy for daring to ask from $929,000 to $979,000 each (or roughly $500 a square foot). The vote seemed less a referendum on the development itself and more one on the state of development, and therefore new-development pricing, in a rapidly changing Southie and a rapidly more expensive Boston.
This particular development is promising enough. Each townhouse has three bedrooms, two bathrooms and two garaged parking spaces. Each, too, is about 2,000 square feet and 25 feet wide; and comes with flourishes such as 16-foot ceilings on the top floors and landscaped patios off the ground levels as well as copious closet space. But! For some of you, the townhouses looked a little too cookie-cutter. Wrote one reader: "These buildings are completely lacking in architectural appeal. From the exterior, they look like cheap public housing." Wrote another: "Stick-built junk."
And yet: Many of you seemed to see the prices as a steal. "At 500 dollars a square foot," wrote one reader, "these appear to be variable bargains when compared to some of the buildings going up in Cambridge and Somerville at the moment. It's still a heck of a lot of money though and one would only hope that the finishes are up to par with the asking price." Another reminded us of the changes afoot in that part of Southie and that buying in now at $500/foot wasn't so mad: "This area is going to be totally different and very desirable in 3 years."
Finally, one reader saw the asking prices as par for the course in the Boston housing market circa 2014: "I agree with many of the other comments about the exterior and interior design; however, these are nearly 2,000 sq. ft. with 2 parking spots. I wouldn't spend $929K for this construction in this location, but I'm sure they will sell close to their asking prices. I think this is just the new reality." Indeed.
· On Southie Becoming South Boston [Curbed Boston]
· Only Tom Brady Posted Better October Stats Than Hub Condos [Curbed Boston]
· Manhattanization of Boston Real Estate Continues Unabated [Curbed Boston]
· Our Crazy/Not Crazy archive [Curbed Boston]