Spectacular luxury complex, some of the best restaurants in Boston (like L'Espalier) as your neighbors, steps from the middle of the Back Bay, 8000 square feet, garage parking, multiple outdoor spaces, pretty much everything you can ask for. Well.....except for the enormous price tag. Oh, and the fact it is still "shell" space. Minor inconveniences.
Looking to set a new high water market for a condo sale in Boston, one of the penthouses in the new Mandarin Oriental hotel and condos is on the market for $16,990,000.
From the Boston Herald:
“Boston’s most awe-inspiring penthouse ever to be built!” the condo’s listing materials boast. “Fourteen stories above Back Bay, this 8,000-square-foot oasis features floor-to-ceiling windows on four sides, providing unmatched and unobstructed views.”
The unit features two private terraces and decks served by private elevator.
You’ll also get four garage parking spaces - but no kitchen, bathrooms or even flooring. That’s because the penthouse is what’s called a “shell,” a rough unit that buyers can finish to fit their own tastes (and wallets).
Will it sell and break a sales record in the process?
A quick MLS check turns up 9 attempted resales in the Mandarin (by the purchasers of the developer sales a couple years back) since the building has gotten close to completion. Ranging from $2.2M to the $16.9M above, there are currently 6 units active (2 others expired and 1 other was canceled) with an average market time of 93 days. None of the nine have gone under agreement or have sold. I suppose this doesn't bode well for the penthouse, not even taking into account the stock market and economic fluctuations lately, but we'll see.