Boston’s newest luxury condo building gives some buyers a chance to sample downtown living at a price below many suburban single-family homes.
Brokers are marketing units starting at $575,000 at The Parker, Fortis Property Group’s 168-unit tower at 55 Lagrange St. scheduled for completion in early fall. Buyers with a budget and preference for Boston Common views can bid on two-bedroom penthouse units listed at $3 million and over.
The Sarkis Team at Douglas Elliman began marketing select units in recent weeks and will list approximately five units on the MLS system beginning this week. The property currently has over 30 percent of the units reserved, said George Sarkis, CEO of the Sarkis Team.
“You’re going to be able to find small units in other buildings, but you’re not going to able to find 168 of them at the attainable price at under $3 million,” Sarkis said.
In a densely-built-up neighborhood on the edge of the Theater District, developers placed a premium on distinctive interior designs emulating the atmosphere of a private social club, with identical finishes in all units. Building amenities include The Rose Lounge, Cue Lounge billiard room and Velvet Room screening room with banquettes.
“We’re a little edgier than the competition, if there is any competition,” Sarkis said.
New York-based Fortis Property Group originally designed the project as condos before pivoting to a rental project, then back to condos when COVID-19 battered the downtown apartment market.
The downtown condo market recovered in 2021, with 3,741 closings representing a 40 percent increase over 2020 according to Sarkis Group data.