Some 30 percent of the 82 under-construction Vita condos at Washington Street and Brookley Road in Boston’s Jamaica Plain are in contract, according to developers Back Bay Development Group and SSG Development.
The project is not expected to open until the fall of 2019. Sales started in May.
Interestingly, 38 percent of the remaining Vita units are priced between $500,000 and $699,999. A release from the developers describes this range as a “market sweet spot.”
Here’s why: JP sales in general have been averaging 103 percent of their asking prices. Homes priced from $500,000 to $599,999 have averaged 7 percent over asking, and homes listed between $600,000 to $699,999 have averaged 4 percent over asking.
In other words, per the release, there is a lot of demand in JP for homes priced just so—and Vita has them.
The complex is due to have an on-site Planet Fitness; garage parking for owners; a shared roof deck; a concierge; and electric-car-charging stations.