The Modern Phase II in the South End to be completed in July
Apr 2011 28

The first photos from The Modern Phase II project have been released. The new development, situated behind its sister, The Modern, Phase I, is located on Northampton Street between Tremont Street and Columbus Avenue in the South End. Its address is 265 Northampton Street.

The first listings from The Modern Phase II have been entered into our local MLS. The lowest-priced unit is a third floor one-bedroom, one-bathroom home with approximately 819 square feet of space. It is listed at $399,000. The highest-priced unit is a “sky-level” home on the seventh floor. It has one-bedroom and one and ½-half baths and approximately 863 square feet. It includes a ~706 square foot private balcony (!!) and a garaged parking space is included in the purchase price of $749,000. A two-bedroom, one and ½-half, third=floor unit is listed at $499,000.

Most units come without parking, which can be purchase for $23,000. Condo fees look to be in the under-$.60 per square foot range.

Phase II is to be expected to be completed this coming July.

When completed, The Modern project will have 62 units between the two buildings along with underground parking.

The Modern, Phase I was completed in 2006 with unit sales continuing to be made throughout 2007 and 2008. Coming at the end of the real estate boom, the developer had a bit of difficulty selling off the last units, although many sold for close to full asking and at prices seen in more-established sections of the South End.

This time around, the developer should have no problem finding buyers. There’s pent-up demand and the future looks brighter than it did, four years ago. I predict a fairly quick sales cycle.

The development team includes the Metric Corp., New Boston Ventures, and PEG Properties & Design. New Boston Ventures has a lot of experience with projects in and around the South End while PEG has been known in the past for ultra-quality renovations of South End, Back Bay, and Beacon Hill townhomes.

Ricardo Rodriguez of Coldwell Banker Residential Brokerage is the listing agent for all of the Phase II units.

The first open house for The Modern Phase II is this Sunday, May 1, 2011, between 11 AM and 1 PM.

Please contact me for complete details and to arrange a private showing or to arrange to meet prior to Sunday’s open house.

Below, three photos.

Development website: The Modern 2

Images above are of the model unit; finishes have not been finalized in all units.

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