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Article: A place where price is practically no object Mandarin's condos push up Hub average
- Article from:
- The Boston Globe (Boston, MA)
- Article date:
- October 31, 2008
- Author:
CopyrightCopyright 2008 The Boston Globe. Provided by ProQuest LLC. (Hide copyright information)
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Buyers are spending nearly $3,000 a square foot on condominiums
at the Mandarin Oriental Boston - double the amount at any other
upscale building - as the real estate slowdown barely brushes the
city's luxury market.
In the third quarter, the average price for condos - influenced
by the Mandarin's sales - jumped 29 percent, to $725,206 in 12
downtown markets, including the Back Bay, Beacon Hill, the South
End, and South Boston, according to Listing Information Network Inc.
The median, or midpoint, condo price rose by 4.9 percent, to
$460,000.
The Mandarin Oriental's hotel opened this month, but the Boylston
Street development began closing on its first condo sales in
September. The most ...