In a recently released special report, Boston Realtor and real estate writer David Bates analyzes the first 425 sales in Boston’s 442-unit, Millennium Tower from every angle, resulting in a compelling report that shows just how different that project is from any other development in the city.
The report tells you financed their purchase with a mortgage and who didn’t. Everyone knows what the most expensive unit was, but what was the least expensive? What was the average cost per square foot and how did it change as you move up toward the penthouse? And why is there no 44th floor?
There’s no end of commentary about this building. Bates’ take is based on interviews with Millennium Partners, two decades of experience in the Boston condo market and a whole lot of number crunching – and it illuminates the building in interesting ways.
“Millennium Tower established the top end of Boston luxury market,” Bates wrote in an email. “Not only with a 60-story residential building, the tallest ever, but perhaps more importantly with a $35 million sale, a price that didn’t just one-up the price of the most impressive condos in the city’s best luxury developments, but beat their prices by multiples.”
Will they repeat that performance in Winthrop Square? I’m sure they’d like to, but Bates is doubtful.
Download the report here.