Luxury Condominiums in Concord Baptist Church Listed in the Market

October 18, 2010 / Russell Legato, Residential Property Analyst

Luxury condominiums are going to be built in the within the Concord Baptist Church on Warren Street, MA, are now on the real estate market’s list. However, the developers of projects are only testing the markets, and potential buyers for the luxury condominiums can only move-in in two years.

Luxury Condominiums in Concord Baptist Church Listed in the Market

Mimi Reilly of Coldwell Banker, the representative on-behalf of the developers said that they are testing the market for potential buyers, and has previously brought a few interested people to take a look at the church, while visualizing and explaining where the eight luxury condominiums will stand.

The developers of the luxury condominiums, N&P associates bought the Concord Baptist Church in 2008 for $3.3 million. N&P has received the approval from Boston Redevelopment Authority in 2009.

Project manager at N&P, Peter Zagorianakos said that his company has significantly slow-down because of the Boston Redevelopment Authority’s concerns.

They originally planned to construct 20 luxury condominiums in the church but the commission only approved 9, and the developers decided to build 8.

Zagorianakos also said that they want to preserve the exact look of the church, including the roof lines.

The developers have not yet started the construction of the luxury condominiums, for church-goers are still attending the church services, and because the developers still have to wait for the final authorization from the Landmarks Commission.

The prices range from $1.35 million for a three-bedroom luxury condo unit and $6.09 million for a five bedroom luxury condo unit. There would be three luxury condominiums are offered for the pre-construction deal.

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