A well-known Chinese newspaper, World Journal, recently reported about the Massachusetts housing market. As the newspaper stated, “…whether million dollar homes or renovation of housing investment, more than one-third of all transactions were cash.” The luxury Boston real estate market has been kept in good stead largely by these prominent cash transactions.
The paper also reported on CL Waterfront Properties, LLC’s sale of the Ritz Carlton Boston condo which belonged to former Red Sox superstar Manny Ramirez. This sale by Carmela Laurella was $5.550 million, the most expensive condo sold at The Ritz-Carlton in 3 years, and the 3rd most expensive condo sold in Boston this year. This highly sought-after penthouse closed for over $1,250 per square foot.
By Howard Chang