As the Boston winter begins to crack and Spring weather and warmer temperatures become more the norm, one of the first things on the minds of Bostonians is getting outside. And while roof decks across downtown Boston neighborhoods are not ubiquitous, there appears to be a growing number of buyers who will only consider purchasing a condo if it has a private outdoor living area.

“I won’t look at a condo unless it has outdoor space,” says one South End condo buyer.

The merits of a private roof deck run deep, anywhere from taking in great city views, to increasing the size of livable space and square footage of a condo. Case in point is Unit 4 at 167 Warren Avenue in the South End, a 614 square foot one-bedroom penthouse condo, where owners added a 160 square foot private roof deck in 2009, in effect, increasing the square footage of the unit by almost a third. The Warren Avenue condo was recently listed for sale with an asking price of $439,000.

“The roof deck at this South End penthouse condo is gorgeous, with stunning views. The use of the composite redwood decking material for low maintenance, and the incorporation of extra storage via an innovative bench, was very thoughtful,” says John Keith, listing agent for the Warren Avenue condo.

In addition to the views and practical uses of a roof deck, some of the added value that a private roof deck brings to a unit is the result of the effort expended by a unit owner to construct a deck that is fully permitted, up to code, and approved by the city of Boston. This process can be arduous, and includes numerous application and approval processes from various city of Boston governing entities, rounds of plans and engineering documents from licensed architects and/or structural engineers, at least two inspections by Boston’s Inspectional Service Department, and a sizeable investment of time to shepherd the process through.. As a buyer, the ideal situation is that you walk into a unit not with deck rights or plans to build a deck, which both imply hope and a dream of a deck but a long runway ahead, but rather, an actual constructed and city approved deck that can be enjoyed immediately upon purchase.

With the green building movement in full swing it’s no surprise that Boston’s condo developers are starting to roll out some high end energy efficient buildings. While there are many developers and construction firms taking steps to “green” their projects, only a few select buildings have gone all the way to be certified with a Leadership in Energy and Environmental Design (LEED) designation.  Put simply, to be LEED certified is to develop and operate in the highest environmentally friendly way possible, and in this article, I’ll take a closer look at the Boston condo market and discuss the area’s top 3 greenest Boston condo developments.

Boston’s Top 3 Greenest Condo Developments

The Leadership in Energy and Environmental Design (LEED) green building and rating system was developed by the US Green Building council in 1998 to standardize what constitutes a green building. The system has gone though many iterations and its current form, version 3.0, consists of a point rating system covering all areas of development and operation, including sustainability, water efficiency, energy and atmosphere, materials and resources, indoor environmental quality, innovation in design, and regional priority. The rating system is setup to encourage developers to use and embrace building techniques that will benefit the environment and community as well as enhance the marketability of their projects.

The Macallen Building – Boston’s Greenest

The Macallen Building has a very unique triangular silhouette that is very prominent on the skyline of South Boston. When it was completed in 2007, the building earned LEED Gold certification and was the first residential building in Boston to do so. The building consists of 140 luxury condos with high-end finishes and all the amenities you would expect from a luxury condo building. The development team at Papas Properties went all out using all the latest eco friendly building techniques and sustainable building materials. Much of the building was constructed with recycled and non-toxic materials and all of the fixtures, appliances, and building systems are energy star rated. The most notable and unique eco friendly feature is the Macallen’s green roof system, which consists of grass like sedum that does not store solar energy, and also provides insulation and facilitates rain water collection. This was a very innovative solution and was the first large scale implementation of such a system in the Boston area. The best part about the Macallen is that when you enter the residences you really have no idea that it was designed to be eco friendly. It appears to be just another luxury downtown condo building, but it is so much more. The Macallen set the standard a high-end consumer friendly luxury lifestyle and sustainable living. I can only hope that other developers look at this shining example of how striving to be environmentally friendly can enhance a project’s overall appeal.

Clarendon Back Bay – Silver LEED Certification

The next, and newest, green condo project in Boston is the Clarendon. Built by Related, a nationwide developer, the Clarendon seamlessly melds top-end luxury city living with a holistic approach to healthy living. The development team encourages making green a way of life and went to great lengths to provide a “healthy” building for not only the environment, but its residents.

The construction of the building used at least 10% recycled content and over 50% of the waste created during the construction was recycled. Over 20% of the materials used in the building were sourced within 500 miles of its Back Bay construction site, thus reducing transportation impacts and supporting the local economy. Included in the choice of construction materials was a myriad of green products and solutions, most notably; low voc paint, energy star appliances, high efficiency HVAC units, and use of a landscaped roof top to minimize heat gain and absorb storm water. Additionally, the Clarendon strives to encourage a healthy lifestyle by adding several features such as exclusive use of green cleaning products in common areas, offering a 24-hour fitness room, open roof top terrace, lots of natural light and easy access to the area’s recreational facilities.

Related is hoping to achieve LEED silver certification on the building and things are shaping up very well in their favor. Related had a third party consultant oversee the construction of the building systems to be sure that it would meet LEED standards and sources report that the Clarendon is right on track to meet the silver standards. I am confident that they will meet their goal.

Bostonians Green Their Own Condos

The third, and perhaps most shocking green development, is your condo. There are hundreds of condo associations and complexes all over the city striving to “greenify” their residences and I challenge you to make your complex among the leaders! In a previous article of mine (see Top 3 Condo Energy Upgrades), I outlined a plan that will get you started on becoming a greener condo owner. If you are truly passionate about the environment and being a better neighbor, I challenge you to spearhead a movement in your complex, get some changes made, and let me know about it so we can feature the change in a future article of mine. Remember, it all starts with an energy audit!

These examples of Boston eco friendly developments are just the tip of the iceberg. More and more developers and Bostonians are realizing that to go green does not mean you have to make sacrifices in your quality of life. As more and more people become aware of this, green features will start to have a greater impact on the decision process of home buying. Keep an eye out for future projects and keep in mind, small changes can have huge impacts!

As the nation continues to rebound from recession, it is perhaps no great surprise that Boston’s three latest ultra luxury condo developments, 45 Province, the Clarendon Back Bay, and the Boston W Hotel & Condos, are struggling to drive sales velocity.  No condominium developer has a crystal ball, but those behind 45 Province, the Clarendon Back Bay, and the Boston W Hotel & Condos entered the market during an inopportune time in the natural ebb and flow of real estate cycles.  While overbuilding in Boston proper is not the culprit, vacancy is, with paltry building percentage sold numbers, almost all of which under 10%, facing the three developments that have arguably set a new baseline for luxury living in downtown Boston and have been a positive addition to the neighborhoods they occupy.

Aside from Atlantic Wharf (formerly Russia Wharf), a Boston Properties development that is scheduled to come online sometime in 2011, that carries with it some projected residential component, large-scale condo development in downtown Boston is halted.  The inherent goal of the underlying real estate cycle is to now consume the available inventory in the market, and financiers and developers, of a certain size, will theoretically not re-enter Boston until they see vacancy levels significantly drop.

While 45 Province, the Clarendon Back Bay, and the Boston W Hotel & Condos have all been marketed for more than a year, the Clarendon and W Boston only recently received their certificate of occupancy and opened to residents, and thus, 45 Province has had somewhat of a head start on its rivals, yet, the percentage of units sold in each building (according to LINK, one of two Boston MLS systems) struggles to break 10%.  The current statistics for the three luxury condo developments include:

45 Province
Condos Sold: 15
Average Sales Price: $1,501,817
Median Sales Price: $1,304,000
Average Price per Square Foot: $1,008
Percentage of Building Sold: 15 / 138 = 11%

Clarendon Back Bay
Condos Sold: 9
Average Sales Price: $1,131,333
Median Sales Price: $1,060,000
Average Price per Square Foot: $1,063
Percentage of Building Sold: 9 / 103 = 9%

Boston W Hotel & Condos
Condos Sold: 8
Average Sales Price: $581,250
Median Sales Price: $560,000
Average Price per Square Foot: $807
Percentage of Building Sold: 8 / 123 = 7%

These three titans of luxury living face different challenges than other recently built large-scale Boston condo developments.  Take the Macallen Building, Boston’s first large-scale 140-unit LEED certified (green) condo development, located in South Boston, which had a relatively slow absorption rate given its price point and unique characteristics.  45 Province, the Clarendon Back Bay, and the Boston W Hotel & Condos face a different challenge than educating buyers on the merits of green living and why a South Boston development warrants a relatively high price point, instead, the baseline of luxury living is tangling with the economy and overall consumer confidence, regardless of price point, and regardless of how insulated downtown Boston is to pan-US economic conditions, it will simply take time to make significant strides forward in occupancy or building percentage sold rates.

After several years of construction, and a redefining of multiple blocks of downtown Boston, both the Boston W Condos and the Clarendon Back Bay began closing on units located on lower floors of each building earlier this month.  The W and Clarendon join the Mandarin Oriental, 45 Province, and Battery Wharf as the newest flock of ultra-luxury large scale Boston condominium developments that were delivered in late 2008 and 2009.

Sales figures for both the W Boston and Clarendon Back Bay have been kept relatively quiet during pre-construction and finishing, and as time unfolds and the registry of deeds is updated, Bostonians will begin to see what price points are being paid to inhabit Boston’s latest luxury living accommodations.

What can be seen thus far, with approximately 5 units in each development being recorded as sold, is that average price points at a price per square foot level in the W and Clarendon at $820 and $990 respectively are significantly lower than the Mandarin Oriental fetched, and well off the average of units currently advertised in each building of $1,090 and $1,150 respectively.

Comparing early sales with other fully sold out buildings (such as the Mandarin) or other currently available units in the same building, may not be a fair comparison given that the majority of units recorded in each building thus far have been on lower floors of each development.  It has been relatively standard that prices typically rise $15K-$20K per floor as you climb towards the penthouse of a large-scale condo development.

With the sudden boost in market closing activity due to closings at the W Boston and Clarendon Back Bay during December 2009, and further closings expected during January, those watching statistics of the Boston condo market over the next several months should look at the numbers knowing that averages can be significantly and easily impacted by injecting just a few high-end price points into a sample.

Amid speculation of whether the upper class is being impacted as much as other socioeconomic classes during the world’s economic downturn, luxury million dollar real estate in downtown Boston points to a slowdown.  From 2008 to 2009, sales activity in the $1 million + downtown Boston condo market fell approximately 22%.

While the rich may be buying again in certain product areas (see Rich Buying Again, But Middle Class Still Hurting), luxury housing in Boston is not yet one of them.  Year-to-date in 2009, 198 condos priced at or above $1 million have sold in downtown Boston, down from 255 during the same time period in 2008 according to MLSpin.  The amount of time, or days on market, that those units are sitting on the market for sale has decreased from 164 during 2008 to 139 during 2009, a sign that what is being listed for sale is selling at a faster pace.  However, the sale price to original listing price ratio, a measure of how well units are being priced in the eyes of the market, has fallen, from 105% in 2008 to 90% in 2009.

The $4 million to $10 million market has been hit hardest, with sales down approximately 71% from 2008 to 2009.

Trying to “time the market”? Why not buy or sell now – and move on with your life instead? Don’t perpetually wait until tomorrow. If you do, you’re likely to end up with a pile of unfulfilled yesterdays!

Sellers: If you currently own a home, you are fortunate to be in the market and “treading water” with every other home owner. In other words, even though the value of your home has taken a hit in the past few years, so have the prices of other homes you may wish to consider buying – whether you plan to “buy up” to a more expensive property, or downsize to simplify your life. Conversely, if you wait until the value of your home increases again (and it will, according to historic real state trends, albeit slowly over the next 10 years according to many economists), the price of a home you may wish to purchase will likely have increased commensurately. Everything is relative. So, confidently sell and buy again in today’s market – since you’re lucky enough to be “in the game”.

Buyers: Home affordability is substantially greater than it has been in many years. This has been reflected in the uptick of sales throughout the summer. Sales of existing homes rose 7.2% nationally between June and July 2009, and 5% compared to July 2008 – the largest monthly increase in sales since 1999.

Locally, home prices are hitting or have hit bottom in some Boston neighborhoods, and have already started to rebound in others. Let’s take a close look at two of the most popular “upscale” neighborhoods where my practice is largely concentrated: the Back Bay and the South End.

Back Bay prices never really dropped substantially, and the average sales price is – remarkably – higher than it has ever been. A comparison between the second quarter of 2008 and the second quarter of 2009 reveals that the average sale price rose nearly 2%. A similar comparison in the South End shows that the average sales price remained virtually flat. In other words, the South End has “bottomed out”. My hunch is that the Q3 2009 results will be even more stellar.

If you are a prospective first-time home buyer, jump in now! If you’ve been sitting on the fence regarding a home purchase, now is the time. Smart buyers have bought during the spring and summer, and more are buying now. These folks are not waiting until they are completely satisfied that it’s “safe” to buy because “everyone else” is buying – because by then prices will have likely increased in the South End and other desirable sought-after neighborhoods. The problem with timing the market is that changes have often already occurred by the time one is satisfied that they have, and one can end up being left behind. Don’t follow the pack, be a leader instead. Unless you believe your job security is in jeopardy, you’ll be glad you did.

Current 30-year fixed rates are hovering in the 5 percent range – an excellent value. Can you predict what interest rates will look like six months to a year from now? If you can, clue us all in! That said, the current challenge lies in getting a mortgage in the first place. I advise my buyers to first check their credit reports from all three services: Experian, Equifax and Transunion, because it is not uncommon to find that each has different data. Checking all three ensures that inaccuracies are addressed in full, and should be done prior to applying for a mortgage. A credit score in the mid to upper 600’s is no longer acceptable to obtain a mortgage, or a mortgage at an attractive interest rate.

My next piece of advice is to avoid doing business in the near future with national banks and other national lenders if at all possible. There is nothing wrong with these fine institutions per se. The problem is that, in its infinite wisdom, the Federal Government went a bit overboard in trying to protect us from the predatory lending practices of the past that lead to the current housing foreclosure crisis (rarely found in the Back Bay or South End, by the way). The “new rules” now require national lenders to have homes appraised by folks who are not local, and therefore simply do not know or understand property values in our unique downtown Boston market.

Unfortunately, I’ve recently seen potential buyers (over whom I have no control if they are working with another Buyer’s Agent) have their closings outrageously delayed because several appraisals were necessary until one was finally accurate. In the worst case scenario, some properties do not appraise at fair market value at all due to this complete lack of local market knowledge. Until this situation changes, I believe buyers are better off working with local banks or local non-bank direct lenders that are allowed to use local appraisers, and have more control over the mortgages they issue because they have their own funds to lend to qualified buyers, as well as their own in-house underwriters. These lenders are less apt to sell their mortgages to Fanny Mae or Freddie Mac, which is the most frequent trigger for the required use of out-of-area appraisers for national lenders.

If you are contemplating the sale or purchase of a home and you’d like a complimentary market report showing the prices of homes that have recently sold or are currently on the market in your neighborhood, I’ve created a website dedicated to this purpose at www.homevaluesinmybackyard.info.

In response to a recent inquiry from a reader.

“Hello, I’m hoping you’ll be able to offer some insight regarding the state of new condo sales in Boston. I live in Phoenix where we are over saturated with new developments and sales have slowed dramatically over the past year. Are new sales slow in Boston as well? Thank you for your time!”

Boston is in somewhat of a unique position when it comes to the onboarding of new condo developments and the inventory they create. While Boston underwent rapid buildout of a host of new condo developments over the past 5 years, the building trend has slowed, and the city now has only a small handful of new buildings that are in the pipeline – the Boston W Hotel & Condos slated to open later this year was the final large-scale condo development to receive financing prior to the global economic crisis that began to hit the institutional lending markets in 2007 (see Boston W Hotel & Condos Readying).  That said, the market is what it is for the next 2-4 years, meaning, all of the inventory and potential choice is known by both Buyers and Sellers.

With that visibility, there are certain new (and recently built) developments that have a higher sales velocity than others, however, the wide breadth of choice in both building style and neighborhood has not stifled any one area of the downtown market, thus allowing for most new developments to be successful.  Some more so than others obviously, and the market is responding appropriately via supply and demand, with for instance an auction at the South End’s 1850 recently to clear remaining inventory, to recent price drops at FP3 to stimulate further absorption of remaining units in the new Seaport District development.

The one result of absorbing new condo developments into the market that is implicitly obvious but was not explicitly predicted is the abundance, perhaps overabundance, of resale listings at existing premier buildings that aren’t accustomed to seeing higher levels of available inventory and turnover.  As Bostonians make the “upgrade” to newer and slicker condo developments, they are leaving vacancies at a host of buildings that don’t typically have a host of for sale signs in front of them.  For instance, there are 18 units currently available for sale in One Charles that are priced from $495,000 for a 610 square foot studio to $3,990,000 for a 2,420 square foot penthouse.  One Charles opened its doors to residents only a few years ago, and was considered to be the new contemporary full-service place to call home on the edge of the Back Bay.  Strada 234, the North End / Waterfront luxury building, with 8 units currently for sale is matching some of its highest inventory levels for the past several years, with condos priced from $649,000 for a 1,088 square foot 1 bedroom 1 bathroom to $1,199,000 for a Dennis Duffy designed 2+ bedroom 2 bathroom unit.  And Four Seasons Place, the exclusive place to call home at 220 Boylston Street overlooking the Public Garden, currently has 6 units available for sale at the same time, perhaps 2 times higher than typical inventory levels, with units priced from $997,000 for a 972 square foot 1 bedroom 1 bathroom unit to $8,950,000 for a 4,022 square foot 3 bedroom 3 bathroom penthouse unit.

With new development delivery slowing, the downtown Boston market is absorbing the options with an “out with the old, in with the new” type attitude in some circles, yet the availability of inventory in existing buildings that is being created may very well provide the opening that others have been looking for to make a move of their own.  Regardless, because there is now visibility into what the market entirely has to offer, for at least the next 2-4 years as it relates to the addition of new large-scale condo developments, a premium will be placed on those with the ability to comprehensively and accurately compare and contrast downtown Boston properties so that Buyers and Sellers can make informed and educated decisions about what condo, and condo development, most appropriately matches their lifestyle.

Whether you believe in global warming or not, there is no mistaking the fact that humans make an impact on the Earth. In an effort to maintain a healthy planet, it’s imperative that we take steps now to help preserve our environment for future generations. Though there are many ways this can be achieved, it’s best to start off small with simple steps to help reduce our carbon footprint, conserve energy, and lower utility bills. One of the easiest ways to make these things happen is by making small changes to your condo through the use of eco friendly home lighting.

There are a number of benefits to utilizing eco friendly lighting, and it’s rather simple to get started. The easiest method is to replace standard light bulbs with Compact Fluorescent Lights or CFL’s – these are the light bulbs featuring a distinctive swirly design. Not only do CFL bulbs last up to 10 times longer than standard bulbs, but they also use roughly 25% less energy. Over time, CFLs can lead to a sizeable reduction in monthly electric bills – reducing energy consumption cuts down on the amount of fossil fuels, coal, and natural gasses used to power homes.

Once actual light bulbs have been switched out, focus can be shifted to light fixtures themselves. Modern lighting fixtures that feature the Energy Star seal of approval have been extensively tested and certified as environmentally friendly. Energy Star is a government-backed program helping businesses and individuals protect the environment through superior energy efficiency. You can find the Energy Star logo on a wide variety of products, many of which are home light fixtures. When a product like a lamp, pendant, or overhead light features the Energy Star logo, the product meets all the requirements set forth by the EPA and the US Department of Energy. Today many Realtors use the presence of Energy Star products as a major selling point in the context of a green home. Condo buyers are focusing more heavily on environmentally friendly amenities and they also know that more efficient products in the home equates to lower energy bills and more money in their (and potential buyer’s) pockets.

Eco friendly lighting initiatives play a big part in Boston’s green building projects. The addition of eco friendly light fixtures is one of the many steps taken to help produce new energy efficient homes for today’s marketplace. The Macallen Building, for instance, has used a vast array of green practices in the design and development of 140 high-end environmentally friendly condos. While lighting is but a small part in the overall scheme of the eco friendly home, it is certainly an important part of the city’s goal of building towards a brighter future.

Over 900,000 USA households are in the foreclosure process, up 71% from a year ago, according to a survey by the Mortgage Bankers Association. That pan-USA figure represents 2.04% of all mortgages in the USA, the highest rate in the report’s quarterly, 36-year history.  What does that mean for those looking to buy downtown Boston real estate, especially a foreclosure “deal”?  Not much.

Ultimately, USA foreclosure statistics have little applicability to downtown Boston for two reasons, the first revolves around the fact that the number of foreclosures in downtown Boston is quite low, and second, simple supply and demand economic forces in the city center prevent  any foreclosure pricing “deal” opportunities – these forces erode any price point differentials between market and foreclosure prices.  Foreclosed homes stay at their foreclosure list prices because of supply gluts, and the economics of Boston’s real estate market prevent the surges in supply of “cheap” homes to support the market dynamics that are being seen in the hardest hit housing markets in the USA.

A compilation of 2008 (January – October) Boston foreclosures by the Boston Globe shows that there was one foreclosure sale in downtown Boston during the first 10 months of 2008 – yes, many more outside the city center, but the downtown market demonstrates significant insulation to foreclosure pressure.  The single unit was a Leather District loft-style condo that sold for $443 per square foot, more than $100 more per square foot than current high-end units at the newly renovated Beach Street Lofts are selling for.

Case in point for the economic forces of the downtown market on a bank-owned unit offered to the public was 10 Hanover Street unit 3, a one-bedroom one-bathroom 690 square foot condo in the North End.   In June 2008,  the condo hit the market for sale, and was listed at $274,900 ($395 per square foot), a very attractive price for the unit and the neighborhood. We worked with clients to move quickly on the property, despite this, there were over 20 offers on the unit, and it closed two months later for almost $100,000 more than the list price at $365,000 ($529 per square foot).  In the end, the short sale property didn’t really end up offering the value for which Buyers were clamoring. In 2008, the average price per square foot in the North End was approximately $600.  This example highlights that simply supply and demand in downtown Boston prevent foreclosure “deals” from occurring.

Unit 809 at the Ritz Carlton will be an interesting condo to follow to see if the theory checks out.  Unit 809 is a 1+ bedroom 1.5 bathroom 1,357 square foot unit in the Ritz Carlton Millennium Towers that is a bank-owned property recently listed for sale at $679,900 ($501 per square foot), and represents almost a 50% discount on the average price per square foot in the building – granted, the average price per square foot is being inflated substantially by several other recently listed properties in the development, including Manny Ramirez’s Ritz Carlton condo. Unit 809 is being sold as is, and is competing against 8 other units that are priced under $700 per square foot, the others at “market prices”.

The economics of supply and demand in downtown Boston trumps any “deal” that a Buyer assumes can be had by finding a foreclosure.  The first hurdle lies in the absolute number of foreclosures in the city center, there really are none, and when coupled with the supply and demand forces present in the city, the idea of a “deal” on a downtown Boston condo quickly becomes elusive.

In 2008, the Boston Condo Blog grew into one of the most popular real estate news sources in Boston.  Some innovative new ideas are planned for 2009, but it’s worthwhile to take a look back at the most popular articles that generated reader interest in 2008. Here are the top 10 most read articles from 2008 here at the Boston Condo Blog.

1. Boston W Hotel and Condos – we have put together some of the most exclusive photos and content surrounding the luxury Starwood brand hotel and resort that will launch in late 2009, going all the way back to the transition of the property from a parking lot to a large hole in the ground.
2. Boston Parking Spaces – our downtown Boston parking spots page has become a top destination for those who want to buy and/or sell a parking spot in Boston.
3. Banq Restaurant to Open at Penny Savings Bank – few restaurants in the city generated as much buzz as Banq did.  The historic Penny Savings Bank deep in the South End was completely renovated in 2007, and is now home to luxury condos, as well as commercial space, which includes a bank (how appropriate), and the new upscale Banq restaurant.
4. The 1850 New South End Condo Development – along the southern border of the South End, a new loft-style condo development called the 1850 launched, we were one of the first to bring you exclusive photos and a comprehensive overview of the property.
5. Broadluxe Condo Auction Results – we were the only news source that stayed with the Broadluxe condo development as it changed ownership hands through foreclosure, as well as pre and post auction.  With the last Purchase and Sale Agreement at Broadluxe was recently signed, (tentatively) marking the end of a successful, and rather short, sales cycle.
6. Prices at Macallen Building – being the first green condo development in Boston, the Macallen Building has received a lot of attention even before its opening in the summer of 2007.  Approximately 50 units in the building remain unsold, and pricing at the development is of interest to many who want to call the green building home.
7. 285 Columbus Lofts Buck Downtown Boston Trend – 285 Columbus Lofts, a new loft-style condo development at the northwest corner of Columbus Avenue and Clarendon Street surprised many with the sales velocity that the developer established in pre and post construction.  The development offers a combination of highly desirable amenities, in a superb location, and Buyers to notice.
8. $100K Price Changes at D4 Condos – one of two historical landmark buildings in the South End (and the city for that matter) that have been converted into luxury condo developments, the Philippe Starck designed D4 Condos are approaching sold out status, but only after undergoing several price reductions.
9. Nothing Standard About Standard Purchase and Sale Agreement – one of our guest bloggers, Rich Rosa, a real estate attorney in Massachusetts, put together an excellent article about one of the most important documents in the real estate transaction process, the Purchase and Sale Agreement.
10. Warm Welcome from the Clarendon Back Bay – the sales staff for the Clarendon Back Bay, one of the city’s latest ultra luxury condo developments, hosted us immediately following the opening of the official sales center on Newbury Street.  Despite a slowing luxury market, the combination of amenities and location at the Clarendon continue to drive Buyer interest.

We look forward to another exciting year in Boston real estate, and a whole new set of top 10 articles in 2009.  Happy New Year!