February 8, 2012 | Updated 11:21am

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Monday, November 16, 2009

'Something Is Going On'

One Boston Condo Developer Didn't Panic, Found Success

Fort Point's FP3 Project Seeing Sales Increase During Downturn


By Paul McMorrow

Banker & Tradesman Staff Writer

FP3, the 92-unit condominium project in Boston’s Fort Point neighborhood, came online weeks before the bottom fell out of the city’s red-hot condo market. Last year set records for big condo deals, but an economy limping along on life support put an end to that. Transactions tumbled by upwards of 60 percent. New condo construction became un-financeable, and real estate observers took to talking about large blocks of unsold units like an albatross around developers’ necks.

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