Good value in new listing at the Penny Savings Bank, $479,000
Jan 2011 06

I’m not in the habit of writing about individual condo listings but I’ll make an exception on occasion to make you aware of some that I think are good values for the money.

Case in point is this new listing at the Penny Savings Bank at the corners of Union Park and Washington streets, in the South End.

Listed for $479,000, it’s a 814-square foot, 4th-floor condo with a separate bedroom area. (It can’t be considered a “real” bedroom since it doesn’t have a closet and no door, but there is a large closet in the main living room area.) There is rental parking available. (* The listing says condo fees may change, this year. Currently $238.98, my guess is this means it will go up.)

The Penny Savings Bank is a cute little condo-conversion project that came online in the mid-2000′s. They took an existing bank and added three stories of condos above the existing structure. There is street-level retail, previously the site of the “Ginger Park” restaurant. I’ve not heard of a replacement restaurant, yet. There’s also a citibank branch.

There are 23 units in the building. Several of them have weird layouts and some have limited light, so it’s best to see them in person to gauge whether or not it would work for you. For example, I think this unit, #405, only has windows in the bedroom. Big windows but you’ll still have limited light in the main living area. My advice: buy a lamp.

Dana Desimone and James Sousa of Hammond Residential RE have the listing. Please contact me for buyer’s agent representation.

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