Three units are currently on the market at the ultra luxurious Mandarin Oriental Condominium on Boylston Street in Boston’s Back Bay neighborhood with prices that continue the trend we are seeing with pricing in the high end / new construction / full gut rehab condo conversion markets.
$4,295,000 Unit W - 10C 2683 square feet ( $1,601/sq ft) 2 + bedrooms, 2.5 baths, 10th floor rear, 2 parking, condo fee $3,600 / month
$4,500,000 Unit E - 9B 2580 square feet ($1,744/sq ft) 2 bedroom, 2.5 bath, 9th floor front, 1 parking
$7,000,000 Unit W - 10B 3564 square feet ($1,964/sq ft) 3+ bedrooms, 3.5 baths, 10th floor corner unit, condo fee $4,000 / month 2 parking
In addition to these units, there are more than 20 other condominiums on the market in the Back Bay listed at over 3 milion dollars, the average asking price is $4,649,043 which is on average, a price per square foot ( $/SF) : $1,429
Read more about the Mandarin Oriental Condominiums and Robin Brown
Mandarin Oriental Condominiums and Hotel in Boston
The Mandarin Oriental Hotel in Boston will open in June 2008 after numerous years of designing and decision making. The years of work will in the end be worth while, multiple condominiums in the upper levels of the hotel have sold from upwards of $2million all the way up to $15million, raising the median home price in the Back Bay area considerably. Once the hotel finally opens it will be recognized as one of the most prestigious and luxurious hotels in the world, and will raise the standard of luxury in the world city of Boston.
Robin Brown contributes his expertise in the Mandarin
Well-heeled Bostonians have always sought the city’s hottest new address, dating to the the filling of the Back Bay in the 19th century. More recently, in the 1980s, it was the Four Seasons and Heritage on the Garden. In the 1990s, it was Trinity Place at Copley Square. Recently, the torch passed to the Ritz-Carlton Towers, Boston Common — Red Sox slugger Manny Ramirez’s home — and Atelier|505 in the South End, where Channel 5 news celebrity Natalie Jacobson lives.
The Mandarin will fill a gap in a scruffy section of Boylston Street in front of the Prudential Center. Its affiliation with Mandarin Oriental Hotel Group, which operates hotels from Bangkok to London and will manage the Boston hotel, enhanced the complex’s snob appeal. Its 15,000-square-foot spa will be similar to Mandarin Oriental, New York’s, which has “relaxation lounges” and VIP suites outfitted with fireplace and sauna. Room rates there exceed $700 a night.
Preparation for construction in Boston began late last year for the underground parking garage; the building is slated for completion in late 2007.
Mandarin Boston “will without a doubt be the nicest, most beautiful hotel and residential development the city has ever seen,” said Paul Palandjian, president of Intercontinental Real Estate, which developed the Nine Zero boutique hotel.
To sell the condos, on the floors above the hotel, Brown and Weiner relied on word-of-mouth and their contacts in charitable organizations, downtown businesses, and at the Four Seasons.
Brown, 50, moves in rarefied circles but was not born to wealth. He grew up comfortably, an executive’s son in Grantham, England. His first exposure to luxury came as a teenager, washing dishes at a chic hotel. He has an ownership stake in the Mandarin partnership, CWB Boylston LLC, but he put up no money into the project. Weiner and Cohen brought financing and engineering know-how; Brown contributed the idea and his expertise in service.
Brown sports Hermes ties and oozes elegance. At the Four Seasons, he won over the upper crust who might need a window table at the hotel’s Aujourd’hui restaurant. Star Market heir and former Channel 7 owner David Mugar threw business and family parties at the hotel, including for his 60th birthday and a retirement party for his longtime secretary. Mugar and Weiner have done real estate development projects together.
When Mugar learned about the Mandarin, he bought a unit and invested in the project. His primary residence is in Cotuit on Cape Cod, but he keeps a place at the Belvedere condominiums, a new development on the Huntington Avenue side of Prudential Center. “Mandarin is a better location,” with views of the Charles River and downtown, Mugar said. Buyers said they like its proximity to stores at Copley Place and on Newbury Street, and to Symphony Hall.
