I had the pleasure of stopping by Avenue 152 with a client last night. For those of you who are not familiar, it is not some hot new club in Boston. It is a semi-luxury 24 unit condo development located at 152 Old Colony Avenue in South Boston. It features garage parking, a fitness center, common roof deck, and modern finishes. The condos were previously marketed by MCM Properties, but the developer, Patrick McDevitt LLC, recently re-listed the condos with Joyce Lebedew Real Estate after sales at the property had been slow.
Out of the 24 units available, MLS only shows 8 units sold with closings and occupancy that began in May 2008. Since taking on the listing last week, 5 more units have gone under agreement, in addition to the 3 that are under agreement through MCM. Buyers will notice a drastic change to the common areas. Gone are the open house banners that seemed to cover every single window of the vacant commercial/office/retail space on the 1st floor. Aesthetically, I think the building looks substantially better and I commend Joyce for doing a very nice job.
I have never been an enormous fan of this development, but it's certainly better than the hole in the ground that was there before. They could have done a better job with the exterior of the building, but the interior finishes are appointed well. The majority of the buyers are young professionals who appreciate the value, finishes, and garage parking. The views are certainly not the best, but if you can "look" past that, there are several nice units left for well under $500,000.