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Boston Globe Editor Martin Baron Selling His High-End Condo

The soon-to-be former editor of The Boston Globe, Martin Baron, is making news before his departure, as he recently put up his spectacular penthouse for sale.

The penthouse sits on Upton Street in Boston's South End, reports The Boston Business Journal. The penthouse condominium boasts seven rooms and is listed at $1.4 million.

The 1,831 square-foot condo is now in "pending sale" mode, only five days after it reportedly hit the market. The condo's sale price includes a parking spot, for which Baron paid $50,000 for when he originally bought the condo.

According to records obtained by the Business Journal, Baron bought the property for $965,000 back in 2001.

As many recall, 2001 was the era of the real estate boom, when prices were surging and an investment in real estate was sure to increase in value.

Little details are available on the current offer and what the condo will sell for under the proposed purchase and sale agreement. If the property sells at its listing price, then Baron can likely anticipate a gain of about $380,000.

Keep in mind that condominium ownership isn't the same as the ownership of a single family home. While a condo is a private residence owned by the purchaser, the buyer essentially pays for the air space, namely, the space between the walls.

The outer limits of the condo and the common space are owned and managed by the condo association. A condo typically comes with association dues which can run into the hundreds of dollars per month, if we're looking at a high-end condo.

While condominiums can provide luxury living, they aren't for everyone. The common area rules and restrictions, outlined in the CC&Rs (or Common Covenants and Restrictions) sometimes limit the use through rules common to all owners, such as noise restrictions, restrictions on the use of public areas and other rules.

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