The Park Lane Seaport apartment complex just hit the market and should fetch a big number, probably in the $120-$140 Million range. Park Lane has 465 apartments and was built in 2006. According to my sources at Park Lane, they will be at 99.7% occupancy come September 1, 2010 and are close to that number now. They have many different apartment sizes, but the price range for a two bedroom and two bath apartment is $2,600-$3,500/Month. Parking is additional.

Until recently, the Seaport District has been pretty quiet, but is really turning into a lively neighborhood and is probably the hottest area in Boston. Unfortunately there are only a couple residential condo buildings in FP3 on Congress Street and the Channel Center. In the next several years there will be many developments including retail, commercial, condos, apartments, shopping, restaurants, etc. My estimate is that 5-10 years from now the Seaport District will be fully developed and command prices of $700/sq. ft. and up for a residential condo.

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