Once lost between the Financial District and the Boston Common, this emerging neighborhood is making its presence known in a major way. Full service living was not always an idea that was embraced in Boston. There was a time, not long ago, when Midtown’s housing inventory could be counted by the tens. However, with its centrality, public transportation infrastructure and luxury amenities, Midtown’s residential emergence was seemingly as inevitable as any in Boston.
2021 was a remarkable, bounce-back year for Boston’s $2M+ residential sales market. Take a look at how the $2M+ sales volume compares over the years in the Midtown Market.
With its centrality, public transportation infrastructure and luxury amenities, this area’s emergence was seemingly as inevitable as any in Boston. Comprehensively, it’s an extensive area that includes Downtown Crossing (DTX), Financial District and the Theater District among other less “luxurious” residential communities like the Leather District or even the tiny sub-sub neighborhood known as the Ladder District.
Downtown Crossing is now home to the most concentrated stock of Full Service buildings. This craze began with the Ritz Carlton Residences which came out of the ground at the corner of Washington and Avery Streets in 2002 with over 200 condominium units. Since then, the following buildings have been built:
- Ritz Carlton Residences – 132 luxury condos in 2002
- 660 Washington St – 420 luxury apartments in 2006
- 45 Province Street – 137 condos in 2009
- The Kensington – 400 luxury apartments in 2013
- Millennium Place – 256 condos in 2013
- Millennium Tower – 442 condos in 2016
- The Boulevard – 36 condos in 2019
- The W – 123 condos in 2009
- The Sudbury – 55 condos in 2021
- Winthrop Center – 500 residences in 2023
- The Parker – 176 condos in 2022/2023
Future years promise additional high rise construction and a growing number of retail and dining options catering to the residents and professionals in the area.
LUXURY ($2M+) MARKET INSIGHTS
The total sales volume for $2M+ in Midtown was $131,832,500 in 2021, up over 50% from $65M in 2020. Of the 39 units that sold in this price bracket, 23 of them sold in an off-market capacity. Eight of these units were from the newly unveiled Sudbury, a 55 unit development in Bulfinch Crossing that features office space and apartments in addition to these fabulous condos. Regardless, the off-market jump is a dramatic change as last year 91% of sales were listed on MLS and sold publicly and just two sales traded in an off-market capacity that year.
$131,832,500TOTAL SALES VOLUME
$1,561AVG. PRICE PER SQ. FOOT
39NUMBER OF $2M+ PROPERTIES SOLD
10NUMBER OF $4M+ PROPERTIES SOLD
Data sourced from MLS Pin on single family and condo properties sold in 2021 over $2 million.
Chic New American bistro in the Ritz-Carlton draws a bustling crowd with a modern menu & cocktails.
10 Avery St, Boston, MA 02111
Legal Crossing is an urban neighborhood restaurant inspired by the vibrancy of Downtown Crossing, then and now. It’s a cross between all of the Legal Sea Foods concepts, evolved into a new, singular experience.
558 Washington Street, Boston, MA 02111
Chef Ken Tominaga, Chef Michael Mina and MINA GROUP bring forth PABU, a modern take on traditional Izakaya-style dining. Tucked in on the fourth floor of Millennium Tower, this hip resto feels like the place to be on any night of the week.
3 Franklin Street, Boston, MA 02110
RUKA inhabits the recently opened, swanky Godfrey Hotel in Downtown Crossing, focusing on contemporary Peruvian cuisine with a Nikkei (Japanese fusion) slant.
505 Washington St, Boston, MA 02135
Longtime family-run shop acclaimed for specialty sandwiches & only open for lunch on weekdays.
44 Province St. Boston, MA 02108
Yvonne’s is a modern reinterpretation of the supper club – a place that effortlessly flows from dinner and drinks to lounging and revelry, where every visit offers an ever-evolving experience that lets the night take the lead.
2 Winter Pl, Boston, Massachusetts 02108
Downtown Boston Theater District’s Sip offers a creative wine program offering tastes to full bottles with small plates & entrees in a modern space.
581 Washington St, Boston, MA 02111