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Millennium Place condominium hits resale market, potential $100K profit

The Millennium Place condominium project has been a resounding success. The new 256-unit project was just completed this fall and most buyers paid prices unheard of for the Downtown Crossing neighborhood, although for less than what their neighbors in the Ritz-Carlton Towers across the street paid.

Now, just a month after closing, one of the original owners in the Millennium Place project has listed her condo for sale. Unit #1014 hit the market just a month ago and has already found a buyer.

This is a one-bedroom, one-bathroom home with approximately 799-square feet of space. The owner paid $675,000 according to the Suffolk Deeds website and the list price on the resale was $775,000.

The sale will close in January 2014 at which time we’ll be able to see how well the owner did. My guess is that the sales price, and the price per square foot, will be close to what the original buyer paid – Millennium Place condos hit the market just a year ago. Still, a $75,000-$100,000 gross profit in under a year (as much as 14%) is pretty damn good.

(Parking for this unit was sold separately and the unit is listed on the resale market without parking included.)

Marcus Rashotsky of Estate Residential Group LLC is the listing agent.

Author: John Keith

John A Keith is a licensed real estate broker in Boston, Massachusetts. He helps buyers and sellers of condos and single-family homes in all of Boston’s neighborhoods.

He is also a writer whose work has appeared in South End News, Boston Courant, Back Bay Patch, and Boston Herald.