Let's use this 2-BR, 2-BA at 12 Mohawk Street near the Andrew T stop as a measure of what new condos in South Boston not on the waterfront go for these days—or, more to the point, how they go. The condo, Unit 1, was finished last year and hit the sales market in July for $559,000. Then the price was chopped in September to $539,000.
Then! In November, the price dropped below $500,000 to $499K. That's where it apparently stayed as the 1,355-square-foot spread went to contract. It closed for $495,000 on Jan. 31—a good $64,000 under the original asking price. And, lest you think we're picking on this puppy, No. 5, another 2-BR, 2-BA in 12 Mohawk, closed in early December for $420,000, $29K off the last listing price. To be fair, No. 3, yet another 2-BR, 2-BA, went for exactly its asking of $459,000. So under or at asking—that's how newly built Southie condos go when they're not on the waterfront.
· Our PriceChopper archive [Curbed Boston]