It would appear that one of the surest ways to build some buzz for your new condo development in Boston is to sell the units without listing brokers. That is exactly what the Fallon Co. did for its Twenty Two Liberty, the first new residential development to go on sale in the Seaport. The complex's 111 units sold out before the summer ended, touching off fervent gossip re: what they sold for and surely inspiring other developers to take the Seaport plunge. More than 50 closings at Twenty Two Liberty have just hit public records, giving us the sharpest picture yet of prices in the gabbed-about project.
The most expensive close so far by both total and per square foot has been for Penthouse 1A, which traded for $8,300,650 or $2,486 a square foot. Interestingly, the same buyer bought two other units at Twenty Two Liberty, according to an analysis by David Bates: Penthouse 1C for $2,945,572, or $1,754 a square foot; and Unit 11A for $5,145,025, or $1,867.
Related: Fan Pier's Fifty Liberty Hurrying Along Toward Likely Sellout
The next priciest trade in terms of both total and per square foot was for Penthouse 2F, which went for $6,914,000, or $2,343 a foot. Penthouse 1F has been the only other $6M-plus sale so far: $6,820,668, or $2,311 a foot, to be exact. Three other condos at Twenty Two Liberty have topped $5,000,000; and a further five have topped $4,000,000. The cheapest deal so far? $535,025 for Unit 2L (about $1,000 a square foot). Oh, and one more thing re: recent sales at Twenty Two Liberty: Bates found that only about 40 percent of buyers have taken out a mortgage, suggesting that the majority have paid cash.
· Numbers From the First Sales at 22 Liberty [Bates]
· Check Out the First Rendering of Fan Pier's 50 Liberty [Curbed Boston]
· Our complete Twenty Two Liberty coverage [Curbed Boston]
· Our Big Deals archive [Curbed Boston]