Bargain at the Mandarin Boston: Only $5.2M for condo
By Anthony Longo 19 06 2007
Spending more than $5 million on a condo may not sound like much of a bargai
But that is just how some real estate executives are looking at a unit that just hit the market at the sold-out Mandarin Oriental, a super-deluxe condo and hotel tower set to open next year in the Back Bay.
Project executives are now marketing a $5.2 million, 11th-floor unit after the initial buyer found himself transferred by his company to New York.
And in a Boylston Street complex whose top unit fetched $14 million, some say the $5 million condo just might be a steal - literally.
“For 3,000 square feet at the Mandarin, for $5 million, it might be a bargain,” said David Costello, a top executive at ERA Boston Real Estate Group.
Bargain or no bargain, $5.2 million gets you a 3,200-square-foot, two-bedroom, two-and-half bath unit on the 11th floor, with a formal dining room, a library, a living room and an outdoor balcony.
Still, it is somewhat smaller than the typical Mandarin Oriental unit. The average, said Robin Brown, one of the project’s developers and the former general manager of the Four Seasons, is 3,600 to 3,700 square feet.
The unit has views on three sides - from the restaurants and sidewalk dining along Boylston Street to the nearby Charles River.
“You can spy on your friends eating dinner below, or look at the sailboats on the Charles by MIT,” Brown said.
We love this building.
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