A new, one-bedroom apartment in the South End starting at $399,000 sounds too good to be true in one of the city’s priciest neighborhoods.
Since sales began earlier this month at the Modern 2 — a chic, contemporary 37-unit building on Northampton Street — 19 condos are already reserved. Completion of construction isn’t expected until the end of July, and the project doesn’t yet have occupancy.
The reason for the demand? The price per square foot is lower than older units in the South End.
“I think it is the right combination of a very convenient location, beautiful finishes and the prices are so good,” said Ricardo Rodriguez, a broker with Coldwell Banker Residential Brokerage, who is marketing the building. “It really is the best new construction project in the neighborhood, and I think it has been reflected in the number of units we have put under reservation already. We had 150 people at the first open house.”
The Modern 2 is the second phase of a two-part project. The first 25 units, located in an adjoining building, sold out three years ago. The first building was loft units with concrete floors and exposed utilities. The Modern 2 is more polished with wood floors, custom kitchen cabinets and Italian marble bathrooms.
All of the units have outdoor space, and the pricier condos have large roof decks with sprawling Back Bay views.