Fallon Companies Break Ground on New Seaport Tower

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The Fallon Co. on Wednesday broke ground on 50 Liberty, a 14-story, 120-unit luxury condominium building in the Seaport.  The project is adjacent to 22 Liberty, another 14-story luxury condo tower that has already sold out.  The project was designed by Elkus Manfredi Architects.

The 50 Liberty project will feature amenities including Babbo Pizzeria e Enoteca, a new restaurant concept from famed chef Mario Batali, as well as Committee, a Mediterranean restaurant from George Aboujaoude.

The two condominium towers are the first residential components of The Fallon Co.’s Fan Pier development, which spans 21 acres and nine city blocks along the South Boston waterfront. Joseph Fallon, president and CEO of The Fallon Co., sold the development’s office components, the two Vertex Pharmaceutical buildings, last year for a combined $1.125 billion.

The prices for some 50 Liberty condo units are likely to exceed $2,000 per square foot — a rare but growing phenomenon in the city’s high-end housing market.  “We’re in a growth cycle, and there are a lot of people who are looking to take advantage of this cycle themselves,” Fallon said in July. “We don’t see that slowing down in the near term at all.”