Related Beal announced today that The Clarendon, the 33-story luxury residential tower in Boston’s Back Bay, is 100 percent sold out. The major milestone comes with the sale of Penthouse 3 for more than $6.2 million with Joshua A. Golden of Luxury Residential Group LLC representing the buyer in the transaction. As milestones go in the Boston market, this one has great significance because it makes The Clarendon the first luxury new construction high-rise condominium building in the city to achieve sold-out status. It’s also a monumental moment for Related Beal, a partnership between Related Companies and Related Beal (formerly The Beal Companies), as The Clarendon was their first joint venture. The Clarendon has continued to achieve ground breaking results and the property’s value consistently increased year-to-year. In January 2013, the property achieved its second to last major milestone with the sale of Penthouse 2 achieving a record-breaking price of $1,834 per square foot for a luxury new construction high-rise condominium at that time. This accomplishment is a testament to the reputation of the building’s developers, as well as the allure of the Downtown residential market today, and represents a preview of what the Boston market can expect from Related Beal.
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