LuxBeat Local Real Estate Professionals discuss rumors, facts and opinions on Luxury Real Estate in Boston, MA and Providence, RI

July 29, 2008

Residences At The Ritz in Boston – Pricing Update

Filed under: Boston Real Estate — Joshua A. Golden @ 12:48 pm

The prices at the Ritz Carlton in Boston continue to climb.  Sales are being recorded at $1,500+/foot for units on high floors with premium views.  With all the new construction pricing around the city, The Ritz is becoming more and more valuable.  Construction costs have gone through the roof and therefor developers are forced to sell at prices in the $1,000 to $2000+(Mandarin Boston) price range.  This in turn pulls up the pricing in pre existing properties around the city. Condos at 3 Avery, which is the low rise portion of of the Ritz Residences, are also seeing an uptick in pricing and activity.  What was once $600 a foot two years ago is now approaching $800/foot. The best recource to see evidence of this pricing increase is to look at our sales grid.(

In my honest, professional opinion, I see prices for the premium units at The Ritz approaching $2,000/foot in the very near future(2-3 Years).

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