A little more than a year ago, the developers of Parcel 39a in the Charlestown Navy Yard asked the city if they could change their plans from apartments to condos. There were tons of new apartments going up in Boston then (as now), so many that some were predicting a glut. Besides, too, the condo market showed no signs of cooling off, with prices escalating amid cartoonishly low inventory. The city obliged. Sales started last fall at what became the 54-unit Starboard Place at 45 First Avenue. There have been at least two closings.
· Unit 109 is an 848-square-foot 1-BR plus den with one bathroom. It was asking $550,500 and it got exactly that. It's rendered above.
· Unit 101 is a similar set-up, although it's a tad bigger at 862 square feet. It wanted $580,500, which is what it got.
Starboard Place will be comprised of 16 studios, four 1-BRs, 19 1-BRs with den, seven 2-BRs with one bathroom, and eight 2-BR, 2-BA suites. The development will be finished this year. Had it stayed as apartments, by the way, Starboard Place was projected to have charged between $1,800 and $3,000 a month for its studio and 1-BRs.
· Glut, Glut! '14 a Tipping Point for Boston Apt. Development? [Curbed Boston]
· Tip of the Iceberg? Charlestown Rental Project Mulls Condos [Curbed Boston]
· Boston, There Are No Condos to Buy. Get Used to It. [Curbed Boston]