Fallon Company Started One Harbor Shore Closings

The 15-story residential tower at Fan Pier has officially begun finalizing unit sales for its new occupants.

Updated on Oct. 14, 2026 in Residential

Fallon Company Started One Harbor Shore Closings

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The Fallon Company has begun unit closings at the One Harbor Shore condominium project in Boston. The move marks the completion of the firm's major mixed-use development at Fan Pier.

Why it matters

The opening of these units comes as the city experiences shifts in the luxury housing market, balancing high mortgage rates with an inventory of hundreds of unsold units. Sales trends at the new tower will provide a bellwether for pricing stability in the local high-end real estate sector.

One Harbor Shore features 122 units priced between $1 million and $10 million in a 15-story tower. Approximately half of the new owners at the property are cash buyers.

The players

The Fallon Company

This is a real estate development firm responsible for the multi-year transformation of the Fan Pier site in Boston.

The details

Marketing for the project began nine months ago, with more than a third of the units sold prior to the start of closings. The development serves as the final component of the larger Fan Pier site where work first began in 2007.

Construction on the first Fan Pier building began in 2007.
The Fallon Company broke ground on One Harbor Shore in 2025.
The average 30-year fixed mortgage rate hit 7.4 percent on Oct. 8, 2026.
Closings for units at One Harbor Shore began during the week of Oct. 14, 2026.
A boutique condo project at 55 India St. is set for completion in 2027.

Culture Shift

The opening of One Harbor Shore reflects a broader trend in Boston real estate, where developers are navigating a softening luxury market. This project follows a period marked by a 1.6 percent decline in average luxury condo prices to $1,748 per square foot during the first half of the year.

Prospective buyers and local investors should note that developer pricing will be adjusted periodically to match current sales trends in the city. With mortgage rates hovering at 7.4 percent, the prevalence of cash buyers suggests a segment of the market remains insulated from current borrowing costs.

The takeaway

The successful opening of this large-scale project demonstrates continued demand in the luxury sector despite high mortgage rates. Buyers looking for property in the area should monitor ongoing pricing adjustments as developers respond to the current inventory of unsold units.