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Why Did This Battery Wharf Beaut Sell for Nearly $400K Off?

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Two of the truisms of Boston real estate circa 2015 are that condos generally go for over their asking prices and when they do they tend to sell for a lot over. Generally. Tend to. Unit 4503 at 4 Battery Wharf is an exception to both. The 1,628-square-foot 2-BR, 1.5-BA with water vus hit the sales market back in mid-January for $2,395,000. Come springtime its price was plunging and rapidly: In a single day, in fact, it dropped first to $2,275,000 and then to $2,199,000. The condo finally closed on Tuesday for $2,000,000 even. Why might it have gone for $395K off in Boston's go-go condo market? Our pet theory is that the association fee of $2,220 was a turnoff. Though when you're paying $1M per bedroom, does $2,220 a month really pencil out to that much cabbage? Thoughts?
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· Extreme Over-Asks in the Hub: Where They Happen the Most [Curbed Boston]
· Our PriceChopper archive [Curbed Boston]