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HomeUncategorizedHow Moderna’s Covid Vaccine Boosted Boston’s Real-Estate Market

How Moderna’s Covid Vaccine Boosted Boston’s Real-Estate Market

The company’s hiring spree and soaring stock led to an uptick in luxury home purchases by employees during the pandemic

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In late 2021, Cathy Angelini, the sales director at the St. Regis Residences Boston, an under-construction luxury condominium, was elated to have back-to-back showings after a long sales drought.

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Things started well when a Pfizer employee agreed on the spot to purchase a 16th-floor condo with views of Boston Harbor for $4.85 million, she said. Two hours later, a Moderna executive honed in on the same unit. When she remarked on the coincidence, Ms. Angelini said, “He just looked at me, completely serious and said, ‘I want the same home, but I need to be one floor higher than Pfizer.’ ” He reserved the option to buy a 17th-floor unit for $4.95 million that day, she said.

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