The Metropolitan Condo for Sale in Boston: $399,000 First-Come Listing
The Metropolitan condo for sale at 1 Nassau Street #1002 in Boston is currently available on a first-come, first-served basis for $399,000. The one-bedroom, one-bath income-restricted resale condo is listed at 100% of Area Median Income. Boston.gov currently shows an application deadline of August 30, 2026 at 11:45 p.m. Because this is a first-come opportunity, eligible buyers should not wait for the deadline if they are ready to begin screening.
This is an affordable homeownership resale, not a housing lottery and not a rental apartment. The City of Boston directs applicants to the current sales listing, and the purchase remains subject to income screening and final eligibility certification. Buyers comparing other current ownership opportunities can also review the 104–108 Norwell Street affordable homes and the 27 James Road homeownership opportunity, which have different prices and qualification rules.
The Current Price Is $399,000, Not $424,900
The current Boston.gov unit page and the live sales listing now show a $399,000 price for Unit #1002. The condo was previously listed at $424,900, but the current sales listing identifies a price reduction. Applicants should therefore use $399,000 as the current published price unless the City or listing agent changes it again.
The $399,000 figure is the condo's current sale price, not an estimate of the buyer's complete monthly housing cost. Mortgage principal and interest, condominium fees, property taxes, insurance, closing costs, and other ownership expenses still matter when the buyer and lender evaluate affordability.
What Is Included at 1 Nassau Street #1002?
The available income-restricted home is a 510-square-foot condo on the 10th floor of The Metropolitan in Boston's Chinatown neighborhood. The current listing identifies one bedroom and one full bathroom, along with in-unit laundry, air conditioning, bicycle storage, an elevator, concierge service, and common outdoor space.
- Address: 1 Nassau Street #1002, Boston, MA 02111.
- Home type: income-restricted resale condominium.
- Bedrooms: one.
- Bathrooms: one.
- Living area: approximately 510 square feet.
- Current price: $399,000.
- Income category: 100% AMI.
- Application type: first come, first served.
- Posted deadline: August 30, 2026 at 11:45 p.m.
Boston.gov identifies The Metropolitan as a wheelchair-accessible building. The City record does not, however, identify Unit #1002 as a unit specifically built out for mobility impairments, vision impairments, or Deaf or Hard of Hearing occupants. Buyers who need an accommodation should confirm the unit's actual features during the application and viewing process.
Income Limits for The Metropolitan Condo for Sale
The current sales listing linked through Boston Metrolist gives specific income ceilings for buyers of Unit #1002. A one-person household must earn under $120,000, a two-person household must earn under $137,200, and a three-person household must earn under $154,300. Applicants with larger households are directed to request the applicable limit.
These are the income figures currently published with this specific resale listing. They should not be replaced with an older or generic Boston AMI table. The property's Mayor's Office of Housing eligibility review ultimately determines which income limit applies to the household and whether the household qualifies.
The Area Median Income eligibility guide explains what a 100% AMI category means, while the Boston Metrolist guide explains why project-specific listings and final certification control an application.
First-Time Homebuyer and Asset Rules Apply
The current sales listing states that the buyer must be a first-time homebuyer or someone who has not owned property during the previous three years. It also states that the buyer must have less than $100,000 in countable assets.
The listing explains that many retirement accounts and education savings accounts are excluded from the countable-asset limit. Applicants should still disclose financial information as required rather than deciding on their own that an account does not count.
Income eligibility and asset eligibility are separate tests. A household can fall below the applicable income ceiling and still need additional review because of assets, financing, household composition, or another requirement of the income-restricted resale program.
The Mortgage Must Meet the Resale Program Rules
The current Unit #1002 listing states that the buyer must obtain a 30-year fixed-rate mortgage that conforms to Fannie Mae guidelines. It also specifies a loan-to-value ratio of no more than 97% of the maximum resale price.
Those requirements do not guarantee mortgage approval. A buyer still has to satisfy the lender's underwriting standards and the Mayor's Office of Housing eligibility process. Income qualification for the affordable condo is therefore different from lender approval for the mortgage.
Before treating the home as financially workable, buyers should confirm the required down payment, closing costs, mortgage terms, insurance, cash reserves, and all other costs required by the lender and purchase transaction.
The Current Condo Fee Is About $521 Per Month
The live sales listing currently reports a condominium association fee of approximately $521 per month. It identifies heat, gas, water, sewer, insurance, security, structural maintenance, grounds maintenance, snow removal, trash, air conditioning, and reserve funding among the items included in the association charge.
That amount is useful when evaluating the current opportunity, but buyers should verify the final condominium fee and association budget before signing a purchase agreement. Condo fees can change, and a listing is not a substitute for reviewing the condominium documents.
The current listing also reports estimated annual property taxes of approximately $839. Buyers should verify the tax treatment applicable to them rather than assuming the seller's or listing's current figure will remain their exact future tax bill.
How First-Come, First-Served Screening Works
The Metropolitan condo for sale is not awarded through a random drawing. Boston Metrolist classifies Unit #1002 as first come, first served and currently identifies the unit as available.
- Check current availability. Confirm that Unit #1002 remains available before relying on the posted August 30 deadline.
- Contact the agent through the current listing. Boston Metrolist directs interested buyers to the active sales listing for this unit.
- Complete initial income screening. The agent may request proof of income before allowing the applicant to move forward.
- View the property if selected to proceed. Screening can occur before the applicant advances further in the purchase process.
- Prepare full financial documentation. Initial screening is not the final eligibility review.
- Complete final certification. Compliance officers must certify eligibility before the affordable-home purchase can be completed.
The distinction from a lottery is important. A housing lottery normally uses a later drawing or randomized ranking after the application period closes. Unit #1002 is instead being marketed as an available first-come income-restricted resale.
Why You Should Not Wait Until August 30
The listing has a posted deadline of August 30, 2026, but first-come status changes how a buyer should treat that date. This is an available-now condo, so an eligible applicant who begins screening earlier may move forward while another person is still waiting to apply.
The deadline is therefore not evidence that the condo will remain available until the final day. Buyers should verify current availability before making financial or moving plans based on Unit #1002.
This is different from deadline-based opportunities such as the 174–184 Norfolk Street affordable homes, where the application process follows the project's own selection schedule.
Initial Income Screening Is Not Final Certification
Boston Metrolist separates first-come applications into initial screening and final certification. During screening, the agent requests proof of income to determine whether an applicant appears able to proceed.
If the buyer advances, complete financial information must later be submitted. Compliance officers then determine whether the household satisfies the applicable income-restricted housing requirements before the purchase can be completed.
A successful viewing, contact with the agent, mortgage pre-approval, or initial income match does not guarantee final certification. The City compliance review remains a separate step.
What the $399,000 Price Does Not Include
The restricted sale price alone does not show the buyer's full monthly cost. A household should consider the mortgage payment, condominium fee, property taxes, homeowners insurance, closing costs, and other lender or association obligations.
This is particularly important when comparing an affordable homeownership listing with a rental opportunity. A restricted purchase price may be below the unrestricted market price, but the buyer remains responsible for the costs associated with owning and financing the home.
For broader background, the below-market-rate housing guide explains why an income-restricted home is different from an unrestricted market-rate property.
This Is an MOH Income-Restricted Resale Condo
The current sales listing describes Unit #1002 as a Mayor's Office of Housing income-restricted resale condominium. The buyer is therefore not simply purchasing an unrestricted condo from a private seller. MOH approval of the buyer's eligibility application remains part of the transaction.
The affordable restriction also means buyers should review the resale and owner-occupancy requirements that apply to the condo before closing. Do not assume that future resale, renting the unit, refinancing, or other ownership decisions operate exactly like an unrestricted condominium.
What to Verify Before Applying
- Availability: confirm that Unit #1002 is still listed as available.
- Price: use the current $399,000 price rather than the earlier $424,900 listing.
- Income: compare household income with the current unit-specific limits.
- Assets: confirm that countable assets comply with the current $100,000 cap.
- Homebuyer status: be prepared to document first-time homebuyer eligibility.
- Mortgage: discuss the required 30-year fixed-rate structure and maximum LTV with the lender.
- Condo fee: verify the current association charge and what it includes.
- Accessibility: confirm the exact features of Unit #1002 if an accommodation is needed.
- Deadline: do not wait for August 30 if you are ready sooner because the listing is first come, first served.
- Certification: keep financial records ready for final Mayor's Office of Housing compliance review.
The Metropolitan condo for sale at 1 Nassau Street #1002 is currently a $399,000 first-come affordable homeownership opportunity for a buyer who can meet the unit's 100% AMI income limits, asset and first-time homebuyer rules, mortgage requirements, and final City certification. Because the condo is available first come, first served, qualified buyers should verify availability and begin screening promptly instead of assuming the home will remain open through the August 30 deadline.