Boston Condo, Loft and Luxury Boston Real Estate Blog

What is up with that?  Mr. Palmer from the Boston Globe tore into the Goldman Properties & Archon partnership again!  Today they announced the sale of 2 buildings that were once talked about going condo…to a commercial developer.  How can you blame them when it costs so much to build here in Boston.  Sure, the market a little bit slower right now because of credit crunch…but at the end of the day thats not the reason they cant build (without loosing money).  They can’t build because of the politics in this city and the unions that are all reaching out driving costs up.  After all why spend $800 per sq/ft when you could probably get it for $600  per sq/ft without the city or unions involved.  Don’t blame Goldman its simply just economical right now because of the structure that is in place.  Mark my words….they still have another 10+ buildings they own and the SOHO of Boston will continue as promised…they just have to maneuver around things until either the market comes back in a big way or developers get a little relief from the politics. Read the article on Boston.com