DOUGLAS ELLIMAN OVERVIEW

Boston Condominium Report Annual 2024 + Quarter One 2025

YE 2019 - Q1 2025 | BOSTON MARKET OVERVIEW The Boston Market consists of Back Bay, Bay Village, Beacon Hill, Midtown, Downtown, Charlestown & Navy Yard, Fenway, North End, Seaport, South Boston, South End, West End, Waterfront YE 2019

YE 2020

YE 2021

YE 2022

YE 2023

BIG BUMP

YE 2024

SOFTENS

SOFTENS

Q1 2024

Q1 2025

FLAT

4.20.2025

YEAR TO DATE TRENDS

BIG BUMP

Transactions

2978

12.4%

2607

-12.5%

3656

40.2%

2945

-19.4%

2308

-21.6%

2304

-0.2%

340

407

19.7%

561

Absorption

$4,022,105,730

10.8%

$3,306,199,701

-17.8%

$4,591,515,981

38.9%

$3,987,989,693

-13.1%

$3,611,271,778

-9.4%

$3,347,016,149

-7.3%

$512,895,004

$662,642,296

29.2%

$856,074,260

Average Price

$1,350,606

-1.0%

$1,268,201

-6.1%

$1,255,885

-1.0%

$1,354,156

7.8%

$1,564,676

15.5%

$1,452,698

-7.2%

$1,508,515

$1,628,114

7.9%

$1,525,979

Median Price

$885,000

-2.6%

$860,000

-2.8%

$859,250

-0.1%

$926,000

7.8%

$1,000,000

8.0%

$999,000

-0.1%

$1,050,000

$1,050,000

0.0%

$1,012,000

SIGNIFICANT INCREASES IN ALL CATEGORIES: SALES, ABSORPTION, AVERAGE PRICE, AND MEDIAN DURING THE VERY CHALLENGING PERIOD WITH 3 RECESSIONS NEW PRICES ESTABLISHED 2019 - Q1 2025 WHICH SETS UP FOR THE INTRODUCTION OF 55 INDIA LEADING NEW DEVELOPMENT PROJECTS IN THE MARKETPLACE

One Dalton Pier 4 Echelon 50 Liberty

One Dalton Pier 4 Echelon

One Dalton Pier 4 Echelon

St Regis One Dalton Echelon

Raffles Winthrop Center St Regis One Dalton

Raffles Winthrop Center St Regis One Dalton

Raffles Winthrop Center St Regis One Dalton

Absorption

Transactions $4,500,000,000

3500

$4,000,000,000

3000

RAFFLES THE SUCCESS OF RAFFLES AND BOSTON BEING SELECTED AS THE ONLY NORTH AMERICAN CITY FOR HOTEL AND RESIDENCES

$3,500,000,000

2500

$3,000,000,000

2000

$2,500,000,000 $2,000,000,000

1500

$1,500,000,000

1000

$1,000,000,000

500

$500,000,000 $0

0 YE 2019

YE 2020

YE 2021

YE 2022

YE 2023

YE 2024

YE 2019

YTD YTD Q1 Q1 2024 2025

YE 2020

YE 2021

YE 2022

YE 2023

YE 2024

YTD YTD Q1 Q1 2024 2025

NO VOLATILITY BUT EBB & FLOW OF NEW DEVELOPMENT CLOSINGS

Average Price $1,200,000

$1,600,000

$1,000,000

$1,400,000 $1,200,000

INVENTORY TIGHT BUT RISING PARTICULARLY IN RESALE MARKET EXTENDED PERIOD OF SLOW SALES 2023 | 2024 GENERAL ACTIVITY LOW FOR A PERIOD OF UNCERTAINTY

$800,000

$1,000,000

$600,000

$800,000 $600,000

BOSTON RESALE MARKET STRONG IN BOTH LOW MAINTENANCE AND FULL SERVICE VALUES HELD AND NEW RECORD PRICES $ PER SQ' ($3000 - $4000) TRANCHES PREDOMINANTLY IN BACK BAY, BEACON HILL, SEAPORT AT PREMIER ADDRESSES THE MANDARIN, CARLTON HOUSE, HADDON HALL, 22 & 50 LIBERTY TRANSACTIONS, ABSORPTION, AND INVENTORY TIGHT FOR 13 YEARS BOSTON MARKET HELD THROUGH 3 RECESSIONS

Median Price

$1,800,000

ELECTION DEFINITELY TIED TO TRUMP AND GLOBAL MOVES FINANCIAL THE SLOW BUT SURE DROP IN INTEREST RATES

$5,000,000,000

4000

WHY THE JUMP?

$400,000

$400,000

$200,000

$200,000 $0

$0 YE 2019

YE 2020

YE 2021

YE 2022

YE 2023

YE 2024

YTD YTD Q1 Q1 2024 2025

YE 2019

YE 2020

YE 2021

YE 2022

YE 2023

YE 2024

YTD YTD Q1 Q1 2024 2025

DATA SOURCED BY LINK and/or MLSPIN

1

YTD 2000 - Q1 2025 I BOSTON PRICING + INVENTORY The Boston Market consists of Back Bay, Bay Village, Beacon Hill, Midtown, Downtown, Charlestown & Navy Yard, Fenway, North End, Seaport, South Boston, South End, West End, Waterfront 1995-2001 DOT COM RECESSION

2008 FINANCIAL CRISIS RECESSION

2019 - 2022 PANDEMIC RECESSION

2025 TARIFFS

MARKET TAKES OFF IN SALES AFTER COVID AVERAGE OVERALL 20+ YEARS OF UPWARD PRESSURE ON PRICING THE UPPER SEGMENT OF THE MARKET PERFORMANCE IS VERY STRONG BY AVERAGE AND MEDIAN. 13 YEARS OF MONTHLY INVENTORY 2013 - 2025 NEVER GETS OVERBUILT AND HOLDS PRICING RESULTING IN NO VOLATILITY APPROX 20+ YEARS OF TIGHT INVENTORY (YELLOW) 2013 DURING 3 RECESSIONS BUT INVENTORY NEVER GETS OVER BUILT WITH THE EXCEPTION OF 2006 - 2009 THEN INVERTS TO TIGHT INVENTORY AND VERY STRONG MARKET PERFORMANCE THIS IS ALL SETTING UP FOR A HUGE SPURT WHEN THE FEDERAL RESERVE STARTS CUTTING RATES

DATA SOURCED BY LINK and/or MLSPIN

2

YE 2019 - Q1 2025 | BOSTON PRICE SEGMENTATION The Boston Market consists of Back Bay, Bay Village, Beacon Hill, Midtown, Downtown, Charlestown & Navy Yard, Fenway, North End, Seaport, South Boston, South End, West End, Waterfront SEGMENTATION: DISTRIBUTION ACROSS SALE PRICES AND $/SQ' % OF MARKET SHARE SHOWS CONSISTENT GROWTH DURING 7 YEAR RUN STARTING WITH COVID IN 2019 AND CARRYING THROUGH YE 2024 THEN Q1 2025 WITH INCREASING PRESSURE ON PRICING AND $ / SQ'

YE 2019

% Share

YE 2020

% Share

YE 2021

% Share

YE 2022

% Share

YE 2023

% Share

YE 2024

% Share

Q1 2024

% Share

Q1 2025

% Share

$0 - $499k

281

9.4%

220

8.4%

361

9.9%

234

7.9%

180

7.8%

169

7.3%

23

6.8%

24

5.9%

$500k - $999k

1451

48.7%

1328

50.9%

1871

51.2%

1402

47.6%

972

42.1%

988

42.9%

139

40.9%

169

41.5%

$1M - $1.499M

556

18.7%

493

18.9%

682

18.7%

573

19.5%

465

20.1%

506

22.0%

114

33.5%

125

30.7%

$1.5M - $1.999M

242

8.1%

256

9.8%

275

7.5%

246

8.4%

241

10.4%

265

11.5%

30

8.8%

49

12.0%

$2M - $2.499M

132

4.4%

112

4.3%

158

4.3%

158

5.4%

153

6.6%

108

4.7%

15

4.4%

15

3.7%

$2.5M - $2.999M

98

3.3%

69

2.6%

94

2.6%

104

3.5%

89

3.9%

83

3.6%

9

2.6%

9

$3M - $9.999M

218

7.3%

129

4.9%

215

5.9%

228

7.7%

208

9.0%

185

8.0%

9

2.6%

10

2.5%

1

0.3%

6

1.5%

PRICE POINT

448

310

467

490

450

376

$10M+

34

40

2.2%

PRICE PER SQ' $1,000 - $1,499 Sq'

1328

44.6%

1099

42.2%

1535

42.0%

1510

51.3%

1293

56.0%

1248

54.2%

120

35.3%

154

37.8%

$1,500 - $1,999 Sq'

337

11.3%

269

10.3%

387

10.6%

384

13.0%

408

17.7%

334

14.5%

38

11.2%

46

11.3%

NEW DEVELOPMENT CLOSINGS BOTH IN PRICE AND $ PER SF "CHUGGING ALONG"

$2,000 - $2,499 Sq'

148

5.0%

82

3.1%

110

3.0%

101

3.4%

178

7.7%

131

5.7%

14

4.1%

9

2.2%

PRICING AND $ / SQ' SHOW GROWTH IN THE MARKET AND STABILITY

$2,500 - $2,999 Sq'

62

2.1%

48

1.8%

42

1.1%

40

1.4%

97

4.2%

62

2.7%

7

2.1%

7

1.7%

STRONG ABSORPTION OF MULTIPLE NEW LARGE SCALE DEVELOPMENTS (ABOVE)

$3,000 - $3,999 Sq'

18

0.6%

14

0.5%

19

0.5%

15

0.5%

33

1.4%

22

1.0%

1

0.3%

5

1.2%

SALES ABSORPTION AND HIGH END SALES HOLDING AND CREATING NEW RECORDS

$4,000+ Sq'

3

0.1%

4

0.2%

4

0.1%

1

0.0%

9

0.4%

4

0.2%

0

0.0%

2

0.5%

CONSISTENT GROWTH / DATA POINTS YEAR TO YEAR

Q1 Sales

340

407

Raffles Winthrop Center St Regis One Dalton

Raffles Winthrop Center St Regis One Dalton

YE Transactions

2978

2607

3656

2945

2308

2304

One Dalton Pier 4 Echelon 50 Liberty

One Dalton Pier 4 Echelon

One Dalton Pier 4 Echelon

St Regis One Dalton Echelon

Raffles Winthrop Center St Regis One Dalton

Raffles Winthrop Center St Regis One Dalton

VIRTUALLY NO VOLATILITY

DATA SOURCED BY LINK and/or MLSPIN

3

YE 2019 - YTD 2025 | BOSTON TRANCHES OVERVIEW The Boston Market consists of Back Bay, Bay Village, Beacon Hill, Midtown, Downtown, Charlestown & Navy Yard, Fenway, North End, Seaport, South Boston, South End, West End, Waterfront Pandemic

TRANCHES

YE 2019

YE 2020

YE 2021

YE 2022

YE 2023

YE 2024

4.20.2025

$1,650 - $1,999 / Sq' $2,000 - $2,499 / Sq' $2,500 - $2,999 / Sq' $3,000 - $3,999 / Sq' $4,000+ / Sq' YE 2019 - 4.20.2025

105 84 41 18 3 251

100 32 30 14 4 180

139 69 19 19 4 250

156 61 24 15 1 257

139 82 54 33 9 317

117 69 36 22 4 248

34 13 7 5 2 61

Pier 4 One Dalton Echelon

Pier 4 One Dalton Echelon

Raffles Winthrop Center St. Regis One Dalton

Raffles Winthrop Center St. Regis One Dalton

Pier 4 St Regis Raffles One Dalton One Dalton Winthrop Center Echelon Echelon St. Regis Haddon Hall: 29 Commonwealth Ave One Dalton 9 Units Average $ / SQ' = $3,219 Small Boutique, Limited Services, Amenities, Developer Edgerley Family

BROAD PARTICIPATION AND MARKET RECORD SALES THROUGH 3 RECESSIONS 6+ YEARS OF DIFFICULT ECONOMIC CLIMATE

TRANCHES 350 300 250 200 150 100 50 0 $1,650 - $1,999 / Sq'

DATA SOURCED BY LINK and/or MLSPIN

$2,000 - $2,499 / Sq' YE 2019

YE 2020

$2,500 - $2,999 / Sq' YE 2021

YE 2022

YE 2023

$3,000 - $3,999 / Sq' YE 2024

$4,000+ / Sq'

YE 2019 - 4.20.2025

4.20.2025

DATA SOURCED BY LINK and/or MLSPIN

4

YE 2024 | NOTABLE MARKET LEADING TRANSACTIONS RANKED BY PRICE and $ per SQ FT

SOLD PRICE $ $ $ $ $ $ $ $ $ $

25,000,000 23,512,500 20,348,000 17,000,000 15,000,000 14,250,000 12,500,000 11,575,000 10,975,000 10,600,000

SOLD PRICE $ $ $ $ $ $ $ $ $ $

7,300,000 10,400,000 17,000,000 5,200,000 7,700,000 14,250,000 12,500,000 20,348,000 25,000,000 8,899,000

TYPE Resale New Development New Development Resale Resale New Development Resale New Development Resale Resale

TYPE Resale New Development Resale New Development New Development New Development Resale New Development Resale New Development

RESIDENCE The Mandarin St. Regis St. Regis The Mandarin 35 Commonwealth Avenue One Dalton The Mandarin Winthrop Center 25 Beacon Street Haddon Hall

RESIDENCE Four Seasons On The Garden Raffles The Mandarin Raffles Raffles One Dalton The Mandarin St. Regis The Mandarin St. Regis

UNIT PH2-E GRAND PH A 19C, 19E E12-A 1,2 5701 PH1-F PH1A 3 3

UNIT 9009 35D E12-A 26J 30C 5701 PH1-F 19C, 19E PH2-E PH1C

NEIGHBORHOOD Back Bay Seaport Seaport Back Bay Back Bay Back Bay Back Bay Mid | Downtown Beacon Hill Back Bay

NEIGHBORHOOD Back Bay Back Bay Back Bay Back Bay Back Bay Back Bay Back Bay Seaport Back Bay Seaport

BED

BATH

SQ FT

$ per SQ FT

PRIVATE OUTDOOR

PARKING

4 6 7 2 4 3 3+ 3+ 3 3

4.5 8+ 8+ 3.5 4.5 3.5 2.5 4.5 1.5 4

6829 10005 5525 4174 7825 3696 3392 4030 3590 3080

$ $ $ $ $ $ $ $ $ $

Private Private Private No Private No Private Private No No

Valet and Self Park Valet Valet Valet and Self Park On Site Garage w Self Park Valet Valet and Self Park Valet On Site Garage w Valet Valet / Carousel

BED

BATH

SQ FT

$ per SQ FT

PRIVATE OUTDOOR

PARKING

2 3 2 2 3 3 3+ 7 4 3+

2 2.5 3.5 2.5 2.5 3.5 2.5 8+ 4.5 3.5

1601 2292 4174 1291 1993 3696 3392 5525 6829 2575

$ $ $ $ $ $ $ $ $ $

No Private No No No No Private Private Private Private

Valet Valet Valet and Self Park Valet Valet Valet Valet and Self Park Valet Valet and Self Park Valet

3,661 2,350 3,683 4,073 1,917 3,856 3,685 2,872 3,057 3,442

4,560 4,538 4,073 4,028 3,864 3,856 3,685 3,683 3,661 3,456

DATA SOURCED BY LINK and/or MLSPIN

5

Q1 2025 | NOTABLE MARKET LEADING TRANSACTIONS RANKED BY PRICE and $ per SQ FT

SOLD PRICE $ $ $ $ $ $ $ $ $ $

17,000,000 14,500,000 14,000,000 14,000,000 11,250,000 10,350,000 9,995,000 9,900,000 7,600,000 6,800,000

SOLD PRICE $ $ $ $ $ $ $ $ $ $

9,900,000 11,250,000 14,000,000 14,500,000 14,000,000 9,995,000 10,350,000 5,200,000 7,600,000 2,700,000

TYPE Resale New Development New Development Resale New Development Resale New Development New Development Resale Resale

TYPE New Development New Development Resale New Development New Development New Development Resale New Development Resale New Development

RESIDENCE The Mandarin One Dalton One Dalton Four Seasons On The Garden Raffles Haddon Hall St. Regis Raffles Burroughs Wharf The Harvard Club

RESIDENCE Raffles Raffles Four Seasons On The Garden One Dalton One Dalton St. Regis Haddon Hall Raffles Burroughs Wharf Raffles

UNIT E12-C 5401 5201 PH 1201 35A 4 20E 34D PH9 4

UNIT 34D 35A 1201 5401 5201 20E 4 32D PH9 26B

NEIGHBORHOOD Back Bay Back Bay Back Bay Back Bay Back Bay Back Bay Seaport Back Bay Waterfront Back Bay

NEIGHBORHOOD Back Bay Back Bay Back Bay Back Bay Back Bay Seaport Back Bay Back Bay Waterfront Back Bay

BED

BATH

SQ FT

$ per SQ FT

PRIVATE OUTDOOR

PARKING

4 4 4 3 3 3 4 3 3+ 3

5f 3h 4.5 4.5 3.5 4.5 3.5 5.5 2.5 4 1+

8360 4064 4064 3525 2738 3089 2906 2292 2618 3704

$ $ $ $ $ $ $ $ $ $

Private Private Private Private No No No No Private Private

Valet and Self Park Valet Valet Valet Valet Valet / Carousel Valet Valet Garage Self-Park Garage Self-Park

BED

BATH

SQ FT

$ per SQ FT

PRIVATE OUTDOOR

PARKING

3 3 3 4 4 4 2+ 2+ 3 1

2.5 4.5 3.5 4.5 4.5 5.5 2.5 2.5 4 1.5

2292 2738 3525 4064 4064 2906 3089 1750 2618 940

$ $ $ $ $ $ $ $ $ $

Private No Private Private Private No No No Private No

Valet Valet Valet Valet Valet Valet Valet Valet Garage Self-Park Valet

2,033 3,568 3,445 3,972 4,109 3,351 3,439 4,319 2,903 1,836

4,319 4,109 3,972 3,568 3,445 3,439 3,351 2,971 2,903 2,872

DATA SOURCED BY LINK and/or MLSPIN

6

55 India Street

14 11

10 12

55

16 15

5

6 18

17

7 8 9 12

3

4

13

2

1

55 India

55 India Street

Waterfront

2

Raffles

430 Stuart Street

Back Bay

3

The Mandarin

776 Boylston Street

Back Bay

4

One Dalton

1 Dalton Street

Back Bay

5

Winthrop Center

240 Devonshire Street

Downtown

6

22 Liberty

22 Liberty Drive

Seaport

8

Pier Four `

300 Pier 4 Boulevard

Seaport

9

St. Regis

150 Seaport Avenue

Seaport

7

50 Liberty

50 Liberty Drive

Seaport

10

The Sudbury

110 Sudbury Street

Government Center

11

Burroughs Wharf

40,50 Battery Street

Waterfront

12

The Archer

45 Temple Street

Beacon Hill

13

Echelon

133,135 Seaport Avenue

Seaport

14

Battery Wharf

2,3,4,5 Battery Wharf

Waterfront

15

Rowes Wharf

10,20 Rowes Wharf

Waterfront

16

The Boulevard

110 Broad Street

Waterfront

17

Fan Pier Parcel H

1 Harbor Shore Drive

Seaport

18

The Ritz

South Station

South Station

TIER ONE

TIER TWO

TIER THREE

UNDER CONSTRUCTION

elliman.com 7

YE 2024 + Q1 2025 | COMPETITIVE SALES DEVELOPMENT

TIER 1

TIER 2 TIER 3

Raffles The Mandarin One Dalton St Regis Pier Four 22 Liberty 50 Liberty Winthrop Center The Sudbury 55 INDIA Echelon Burroughs Wharf The Archer Rowes Wharf Battery Wharf The Boulevard

NEIGHBORHOOD Back Bay Back Bay Back Bay Seaport Seaport Seaport Seaport Midtown | Downtown Government Center Waterfront | Greenway Seaport Waterfront Beacon Hill Waterfront | Greenway Waterfront Waterfront | Greenway

HOTEL

The Ritz - South Station 2025 Fan Pier Parcel H 2026

South Station Seaport

400 Atlantic Avenue

European Investment Group, JAJ, to convert into a luxury boutique hotel

THE MANDARIN

Notable Sales: PH2-E $25,000,000 + E12-C $17,000,000 + E12-A $17,000,000

ST. REGIS

Notable Sales: Grand PH $23,512,500 + 19C/19E $20,348,000

WINTHROP CENTER

Q1 2025: Increased transactions due to the "Lease to Buy" strategy units closing

THE BOULEVARD

10 Year Old Product Double Loaded Corridors (Limits Views) and Very Different from 55 India We wanted to watch this development carefully and let them go first and make mistakes Parking: Onsite but, Residents do not like the carousel parking option

Raffles Mandarin Oriental Four Seasons

The Boston Hotel The Battery Wharf Hotel

TOTAL UNITS 146 51 234 114 106 109 120 317 55 29 733 69 62 106 104 36

YR Complete 2023 2007 2005 2023 2019 2015 2018 2023 2021 2026 2018 | 2020 1997 2020 1987 2008 2017

166 130

2025 | 2026 2026 | 2027

UNITS SOLD 33 6 20 16 10 7 7 49 7 36 3 10 8 7 1

MIN SQ' 426 1985 371 899 1046 1039 1297 781 1738 717 513 974 1187 1044 932 1898

MAX SQ' 2738 8360 4064 10005 2553 2027 2083 4030 4614 2778 1981 3738 3151 2933 2281 1898

YE 2024 + Q1 2025 AVG SQ' MIN SOLD MAX SOLD AVG SOLD 1242 $ 970,000 $11,250,000 $ 3,924,758 4491 $ 4,850,000 $25,000,000 $ 13,587,500 1911 $ 790,000 $14,500,000 $ 5,859,175 2377 $ 1,700,000 $23,512,500 $ 6,375,032 1618 $ 1,875,000 $8,500,000 $ 4,045,000 1524 $ 1,475,000 $5,900,000 $ 3,767,857 1678 $ 2,700,000 $6,500,000 $ 4,071,429 1497 $ 1,465,100 $11,575,000 $ 3,112,292 2394 $ 3,100,000 $9,250,000 $ 4,888,571 1658 $ 178,808 $7,986,250 $ 3,390,894 1002 $ 895,000 $5,195,000 $ 1,748,889 2443 $ 1,000,000 $7,600,000 $ 4,375,000 2674 $ 1,675,000 $7,700,000 $ 4,687,250 1671 $ 1,800,000 $3,995,000 $ 2,364,375 1568 $ 985,000 $3,325,000 $ 2,182,500 1898 $ 2,352,500 $ 2,352,500 $ 2,352,500

AVG $/SQ' $3,161 $3,026 $3,067 $2,682 $2,500 $2,472 $2,426 $2,079 $2,060 $2,044 $1,745 $1,791 $1,753 $1,415 $1,392 $1,239

DATA SOURCED BY LINK and/or MLSPIN

8

YE 2024 + Q1 2025 | COMPETITIVE UNIT MIX Competitive Mix Includes: Raffles, Mandarin, One Dalton, St Regis, 22 Liberty, 50 Liberty, Winthrop Center, The Sudbury, Echelon, Burroughs Wharf, The Archer, Rowes Wharf, Battery Wharf, The Boulevard Unit Mix Studio | 1 BA 1 Bed | 1 BA 1 Bed | 1.5 BA 1 Bed | 2 BA 1 Bedroom Total | Avg 1+ Study | 1.5 BA 1+ Study | 2 BA 1+ Study Total / Avg 2 Bed | 2 BA 2 Bed | 2.5 BA 2 Bedrooms Total | Avg 2+ Study | 1f + 2h BA 2+ Study | 2 BA 2+ Study | 2.5 BA 2+ Study | 3 BA 2+ Study | 3.5 BA 2+ Study Total | Avg 3 Bed | 2.5 BA 3 Bed | 3 BA 3 Bed | 3.5 BA 3 Bed | 4.5 BA 3 Bedrooms Total | Avg 3+ Study | 2.5 BA 3+ Study | 3.5 BA 3+ Study | 4.5 BA 3+ Study Total | Avg 4 Bed | 3.5 BA 4 Bed | 4.5 BA 4 Bed | 5f + 3h BA 4 Bedrooms Total | Avg 4+ Study | 5.5 BA 5+ Study | 5.5 BA 6 Bed | 8f + 2h BA 7+ Study | 8f + 2h BA GRAND TOTAL

Units Sold 21 28 6 1 35 8 12 20 29 38 67 1 6 30 3 1 41 5 3 6 1 15 5 4 1 10 3 2 1 6 2 1 1 1 220

Min SQ' 426 627 932 1044 899 996 1297 996 1011 1267 1011 2000 1478 1291 1841 4174 1291 1993 1989 1755 2738 1755 2247 2553 4030 2247 2542 3738 8360 2933 2881 4614 10005 5525 426

Max SQ' 687 1035 1187 1044 1187 1177 1379 1379 1848 2204 2204 2000 1675 3045 1981 4174 4174 2663 2618 3696 2738 2848 3392 3045 4030 4030 2956 6829 8360 8360 2906 4614 10005 5525 10005

Avg SQ' 500 836 1010 1044 309 1160 1368 1285 1311 1630 1492 2000 1642 1900 1892 4174 1920 2304 2218 2627 2738 2198 2774 2760 4030 2894 2810 5284 8360 4136 2894 4614 10005 5525 1490

$ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $

Min Price 790,000 999,000 985,000 1,800,000 970,000 1,875,000 2,450,000 1,875,000 1,575,000 2,300,000 1,575,000 2,075,000 2,050,000 2,300,000 5,195,000 17,000,000 2,050,000 3,325,000 2,600,000 4,250,000 11,250,000 2,600,000 4,137,500 4,800,000 11,575,000 4,137,500 3,995,000 4,525,000 17,000,000 3,995,000 9,000,000 9,250,000 23,512,500 20,348,000 790,000

$ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $

Max Price 1,900,000 1,950,000 2,800,000 1,800,000 2,800,000 2,375,000 2,975,000 2,975,000 5,200,000 5,375,000 5,375,000 2,075,000 3,150,000 8,500,000 5,320,000 17,000,000 17,000,000 10,400,000 7,600,000 14,250,000 11,250,000 11,250,000 12,500,000 8,899,000 11,575,000 11,575,000 5,995,000 25,000,000 17,000,000 25,000,000 9,995,000 9,250,000 23,512,500 20,348,000 23,512,500

$ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $

Avg Price 1,200,730 1,442,486 1,836,667 1,800,000 543,429 1,695,000 2,743,750 2,493,750 2,360,328 3,697,087 3,118,490 2,075,000 2,892,053 4,695,750 5,255,000 17,000,000 4,708,898 7,825,000 4,848,358 7,529,167 11,250,000 6,389,672 6,785,500 7,474,750 11,575,000 7,540,150 5,213,333 14,762,500 17,000,000 9,361,667 9,497,500 9,250,000 23,512,500 20,348,000 3,505,240

Average $ | SQ' $2,399 $1,725 $1,819 $1,724 $1,761 $1,827 $2,006 $1,941 $1,800 $2,268 $2,090 $1,038 $1,761 $2,471 $2,778 $4,073 $2,453 $3,396 $2,186 $2,867 $4,109 $2,906 $2,446 $2,708 $2,872 $2,894 $2,810 $2,794 $2,033 $2,263 $3,282 $2,005 $2,350 $3,683 $2,353

55 INDIA

2 Bed + Study | 2.5 BA Floor 4 $1880 Floor 5 $1983 Floor 6 $2042 Floor 7 $2130 Floor 8 $2218 Floor 9 $2306 Floor 10 $2418 $2,140 The Mandarin Resale $2,831 One Dalton New Raffles New The Mandarin Resale Winthrop Center New

The Mandarin Resale The Mandarin Resale

St. Regis New St. Regis New

DATA SOURCED BY LINK and/or MLSPIN

9

YE 2024 - Q1 2025 | 55 INDIA COMPETITIVE SET

FUTURE NEW DEVELOPMENT

55 India 55 India Street

The Ritz Carlton Residences South Station

Fan Pier - Parcel H 1 Harbor Shore Drive

Hotel 400 Atlantic Ave

Neighborhood

Waterfront / Greenway

South Station

Seaport

Waterfront / Greenway

Condominiums Hotel

29 Total / 24 Market Rate No Hotel

166 No Hotel

130 No Hotel

Luxury Hotel

Completion

Anticipated 2026 | 2027

Anticipated 2025 | 2026

Anticipated 2026 | 2027

Anticipated 2026 | 2027

Developer

Boston Residential Group

Hines

Fallon Company

JAJ Investment Group

Architect

Hacin

Pelli Clarke & Partners

Interiors

Hacin

Jeffrey Beers International

Stories

12

51

16

55 India 55 India Street

Raffles 430 Stuart Street

Four Seasons / One Dalton 1 Dalton

The Mandarin 776 Boylston

St Regis 150 Seaport Boulevard

Pier Four 300 Pier Four Boulevard

22 Liberty 22 Liberty Drive

50 Liberty 50 Liberty Drive

Winthrop Center 240 Devonshire Street

The Sudbury 110 Sudbury

Neighborhood

Waterfront / Greenway

Back Bay

Back Bay

Back Bay

Seaport

Seaport

Seaport

Seaport

Downtown

Government Center

Condominiums Hotel

29 Total / 24 Market Rate No Hotel

146 Raffles Hotel (147)

160 Four Seasons Hotel (215)

49 Mandarin Oriental (148)

114 No Hotel

106 No Hotel

109 No Hotel

120 No Hotel

317 No Hotel

55 No Hotel

Completion

Anticipated 2026 | 2027

2023

2019

2007

2023

2019

2015

2018

2023

2021

Developer

Boston Residential Group

Naonnet / Saunders Hotel Group

Carpenter & Company

CWB Apartments

Cronin

Tishman Speyer

Fallon Company

Fallon Company

MP Boston

HYM | National Real Estate Advisors

Architect

Hacin

The Architectural Team

Henry Cobb / Cambridge Seven

CBT

Elkus Manfredi

CBT

CBT

Elkus Manfredi

Handel + Dream

CBT

Interiors

Hacin

Rockwell

Thierry Despont

Frank Nicholson

BAMO

SHoP

Hok

Stories

12

35

61

14

22

9

14

14

53

45 | Top 11 Floors Residences

Units Sold 2024 - Q1 2025 Avg Selling Price Avg $ per SF

33 $3,924,758 $3,161

20 $5,859,175 $3,067

6 $13,587,500 $3,026 Includes: $25m +$17m + $17m

16 $6,375,032 $2,682 Includes: $23m + $20m Sales

10 $4,045,000 $2,500

7 $3,767,857 $2,472

7 $4,071,429 $2,426

49 $3,112,292 $2,079

7 $4,888,571 $2,041

MLS Active / Under Agreement Avg Listing Price Avg $/SF MLS Data as of 4.20.2025

9 $3,928,667 $3,127

22 $9,981,591 $3,190 Includes $38m listing

3 $9,366,333 $2,783

14 4633643 $2,366

6 $4,185,667 $2,447

9 $5,546,422 $2,773

2 $10,897,500 $3,712 Includes: $20m Listing

27 4592593 $2,200

4 $4,775,000 $2,077

CBT

TIER ONE COMPETITIVE SET

Handel

DATA SOURCED BY LINK and/or MLSPIN

10

YE 2024 - Q1 2025 | 55 INDIA COMPETITIVE SET

TIER TWO COMPETITIVE SET

55 India 55 India Street

Burroughs Wharf 40,50 Battery

Echelon 133,135 Seaport Boulevard

The Archer 45 Temple Street

TIER THREE COMPETITIVE SET

Rowes Wharf 10,20 Rowes Wharf

Battery Wharf 2,3,4 Battery Wharf

The Boulevard 110 Broad Street

Neighborhood

Waterfront / Greenway

The Waterfront / Greenway

Seaport

Beacon Hill

Neighborhood

Waterfront / Greenway

Waterfront

Waterfront / Greenway

Condominiums Hotel Rooms

29 Total / 24 Market Rate No Hotel

69

No Hotel

733 No Hotel

62 No Hotel

Condominiums Hotel Rooms

204 Boston Harbor Hotel (232)

104 Battery Wharf Hotel (150)

36 No Hotel

Completion

Anticipated 2026 | 2027

1992

2018 / 2020

2020

Completion

1987

2008

2017

Developer

Boston Residential Group

Kenney

Cottonwood

CCM

Developer

Norman B. Leventhal

Development Management

New Boston Ventures

Architect

Hacin

Notter, Finegold, Alexander

CBT and Kohn Pedersen Fox

The Architectural Team

Architect

Adrian Smith + Gordon Gill

The Architectural Team

Finegold Alexander

Interiors

Hacin

Jeffery Beers

LDa Architecture & Interiors

Interiors

Leslie Fine Interiors

Gauthier-Stacy

LDa Architecture

Stories

12

7

21

7

Stories

Complex 16 / Residences 10

6

12

Units Sold 2024 - Q1 2025 Avg Selling Price Avg $ per SF

3 $4,375,000 $1,791

36 $1,762,750 $1,718

10 $4,687,250 $1,732

Units Sold 2024 - Q1 2025 Avg Selling Price Avg $ per SF

8 $2,364,375 $1,415

7 $2,182,500 $1,392

1 $2,352,500 $1,239

MLS Active / Under Agreement Avg Listing Price Avg $/SF MLS Data as of 4.20.2025

1 $2,795,000 $1,896

36 $1,951,389 $1,845

7 $3,743,571 $1,597

MLS Active / Under Agreement Avg Listing Price Avg $/SF MLS Data as of 4.20.2025

2 $4,445,000 $1,896

6 $2,530,833 $1,362

1 $1,875,000 $1,372

DATA SOURCED BY LINK and/or MLSPIN

11