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Folio Boston condos to go to auction

The developer of Folio Boston, a new luxury condominium project in Boston’s Financial District will be holding an auction for the 34 remaining, unsold condominiums.

Folio Boston is a 14-story, newly constructed building facing the Rose Kennedy Parkway, at 80 Broad Street.

Out of the 96 units, 63 have been sold. The remainder are a mix of one-bedroom, two-bedroom and penthouse units.

A minimum bid will be required for each unit. A one-bedroom currently offered for sale at $480,000 will be sold at or above its $325,000 minimum price. The most expensive unit to be auctioned, a $1.76 million, two-bedroom with a wraparound terrace on the 14th floor with a waterfront view, has a $1.025 million minimum price.

The interiors of these units are of high quality. The largest penthouse is jawdroppingly beautiful, with sweeping views of the parkway and harbor.

It seems to be just a matter of timing, with the developer looking to move on from the project, and seeing the auction as a way to generate business. At this time, it doesn’t look as though any other Boston projects would be considering such a move. Unless of course, it’s an overwhelming success.

Source: Going once … By Kimberly Blanton, The Boston Globe