Is Charles River Park Being Hit with a $60M Special Assessment?

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Is Charles River Park being hit with a $60M special assessment?

I just spoke with one of my of my old clients and he was telling me that Charles River Park condo association is in discussion with the trustees and condo owners regarding a special assessment that could have a price tag over $60,000,000. My old clients two bedroom Charles River Park condo unit will have an assessment of approximately $129,000.

Apparently, works needs to done with interior of the buildings plumbing and electrical systems. This has been a tough couple of years for Charles River Park condo owners, they just completed one assessment in refurbishing the main entrance lobby and hallways.

If you’re thinking about purchasing a Boston condo at Charles River Park be very careful. As I tell all my clients ask for the most updated condo association meeting minute notes.

If the information that I’ve heard from a reliable source is correct, I expect we’ll see numerous Charles River Park condos being listed for sale in next couple of weeks. I also anticipate a significant drop in asking prices in the next few months as the units will linger on the market unsold for a long time.

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