A record-breaking $4.01 million sale at 45 Province demonstrates that the residential real estate market in 2013 is not slowing down after exceptional activity in 2012. Particularly in the high-end market, recently released market data shows that sales are up 28% from this time in 2012.
The $4.01 million sale at $1,285 per s/f, which marks 45 Province's 100th closing, already ranks as one of the top five highest condo sales in all of the city to date for the year. It is also the number one sale and price per s/f for Midtown this yeat, and the 3rd highest overall sale in Midtown since 2010. This follows 45 Province's December 2012 $3.45 million sale, the second highest-grossing sale in Midtown in 2012.
45 Province is coming off a record year in 2012. Sales at 45 Province are already up 80% over this time in 2012 and 45 Province now represents approximately 38% of the entire Midtown $1 million plus sales market in 2013.
"We are definitely seeing increased demand among buyer groups for the varied and exclusive homes at 45 Province, in particular buyers seeking larger city homes," said sales director Wayne Lopez. "As the market continues to strengthen, and as our recent high-end home sales indicate, we are seeing homebuyers taking a more particular interest in luxury homes in Midtown."
"We are so excited to mark our 100th closing with such a milestone that truly captures the emergence of the Midtown luxury condominium market," said Audrey Epstein Reny of The Abbey Group, developer of the luxury condominiums at 45 Province. "While we are now at 80% sold, 45 Province still has over 28 distinct home plans offering something that meets homebuyer's needs and diverse lifestyles."
The Abbey Group is a Boston-based real estate company founded in 1968.
From its early years redeveloping urban historic buildings into luxury residences and high quality offices, the firm has evolved into a prominent force in real estate and resort development. The Abbey Group has developed over 100 buildings used for commercial, retail, residential, laboratory, and parking uses, including 45 PROVINCE, Riverside Technology Center, Landmark Center, Lafayette City Center, Landmark Square Apartments, and St. Germain St. Apartments. In 2003, the Abbey Group became Co-Owners and Managing Partners of the fabled Boston Celtics, bringing a lifetime love and enthusiasm for the team to the partnership.