Boston's Back Bay Fills In

"A Boston developer owns the last empty residential lot in the historic Back Bay neighborhood - and he has big plans for 161 Commonwealth Ave.

Developer Ted Raymond plans to construct a five-story luxury condominium building on the lot, which his employees currently use to park their cars. The structure will be combined with an existing town house next door at 163 Commonwealth, which he also owns. In the 1970s, Raymond paid less than $500,000 for the properties.

Each floor of the new project will have one 4,000-square-foot unit that will range in price from $6.4 million to $8 million - excluding interior finishes, which will cost extra. The prices put the project in the same league as the Residences at Mandarin Oriental Boston on Boylston Street, arguably the city's most chic address."