Go East, Savvy Buyer

illustration by adam avery. photograph courtesy of Randy Gross, Elevin Photography

Rental construction is booming in East Boston: Portside at East Pier, 6 New Street, and DeNormandie Wharf are just a few of the residential complexes popping up along its waterfront. But what about buyers who want in on this burgeoning  ’hood? Enter the Seville Boston Harbor, a 66-unit condo building with high-end perks and refreshingly low price tags.

As part of the area’s first brand-new large-scale construction in decades—occupancy is slated for the spring of 2016—this is a game-changing project for the neighborhood. By Boston standards, it’s affordable, too: One-bedrooms start in the upper $300s, two-bedrooms start in the mid-$400s, and two- bedrooms with a den start in the upper $600s. “The under-$500,000 condo market is disappearing in Boston, but we’re able to bring to market luxury condo inventory in that price range with amenities and views you wouldn’t expect to find so close to [downtown],” says Bill Caulder, whose 6M Development is a partner on the project with Global Property Developers.

About those amenities and views: Many of the Seville’s decks and balconies overlook the city skyline or harbor. The building also has a 2,500-square-foot roof deck with panoramic vistas, and the ground floor will house retail shops. Inside, condos feature hardwood floors and sleek European-style cabinetry; all have floor-to-ceiling windows. There’s also a fitness center and a concierge. Need to get into town? The Maverick T stop is a five-minute walk, and Boston Harbor Cruises is expected to operate a water-taxi shuttle across the street. In other words: Eastie has never looked better.

250 Meridian St., Boston, 617-686-3555, sevillebostonharbor.com.

The Smartest Steal in Boston?

$318,375
Median condo price in East Boston.

39%
Five-year change in East Boston condo prices.

$709,000
Median condo price in Chinatown/Leather District.

$475,000
Median condo price citywide.

Sources: Reis, Massachusetts Association of Realtors, and MLS Property Information Network, 2014.