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Lendlease’s debut Boston development is a testament to just how hot the city’s condo market has become.
The developer announced Tuesday all 80 of the condos at its Slip65 development in East Boston have either sold or are under agreement.
“Selling out pre-construction, in just eight weeks, affirms our faith in this neighborhood, and reflects our commitment to creating a unique lifestyle,” Lendlease General Manager of Development Nick Iselin said in a prepared statement.
Slip65 had a successful start earlier in the summer when an initial round of 40 condos were released and sold in just 36 hours. Prices ranged from $700/SF to $1,200/SF. Slip65 is the first phase of Lendlease’s greater Clippership Wharf development on the East Boston waterfront. When complete, the development will feature four buildings with condos, apartments and retail space.
While the $225M Eastie development is Lendlease’s first Boston project, the developer previously tried to boost its local portfolio. It was one of eight developers that tried to get the rights to build on a city-owned Winthrop Square parking garage. Its 750-foot mixed-use tower proposal lost to a Millennium Partners proposal in 2016.
Other developers have noticed a limited supply of condos in Boston and have looked to seize upon the opportunity. HYM Investment Group announced in July it was converting 118 apartments into 55 condos at its Bulfinch Crossing residential tower under construction near Government Center.
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