Garage Parking Space for Sale at Boston Ritz Carlton

Perhaps one of the most unique property ownership opportunities in Boston has emerged once again with the listing for sale of a Ritz Carlton self-park secure garage parking space for $110,000.

What’s so unique about a garage parking space available for sale in the middle of downtown Boston?

Well, a lot.

Boston garage parking space B3 16 in the Ritz Carlton garage carries no real estate taxes, no HOA fees, and no expenses of any sort, in perpetuity.

Not your standard piece of land in the middle of Boston, by any stretch of the imagination!

Boston Ritz Carlton Parking Garage Entrance

The Ritz garage offers owners the ability to self-park, something nearby condominium developments like Tremont on the Common or Grandview do not allow, which creates parking spaces that trade for less than $50,000, but carry exuberant monthly expenses (as an investor, it’s really hard to make the numbers work).

The Ritz Carlton garage has no residency requirements, so while it makes sense for a building resident to marry another parking space to their condo, investors, and even commuters can get in on the action at the Ritz.

Ritz parking space B3 16 is a reserved parking spot located near the garage elevator on level B3, and is a single non-tandem space.

The secure Ritz Carlton garage is located east of the intersection of Boylston and Tremont Streets, available to enter by vehicle on the north side of Boylston Street, while also accessible by foot via elevator off Avery Street. An Orange line T stop is adjacent to the garage.

For more information regarding this Ritz Carlton parking space for sale, listing your parking space for sale, or buying a downtown Boston garage parking space, contact us today.

2 Avery Street Ritz Parking Garage

New Tremont Street Boston Parking Space for Sale

Finding a place to park your car in downtown Boston can be difficult and expensive.

First, you have to locate a space. Then you have to deal with parking tickets, street cleaning, expensive meters, drivers bumping into your car, not to mention winter weather.

This is why more and more people are investing in Boston parking spaces. Not only will you avoid all these aggravations, owning a parking space in the city center of Boston can also be a great investment opportunity.

Boston Parking Spaces on Tremont Street

If you are looking to buy a parking space located in the heart of the city, the space located at 170 Tremont Street, inside the Parkside condominium development, offers a secure designated spot with 24 hour security and valet service. Compared to other parking facilities, the valet service at 170 Tremont Street provides flexibility to retrieve your vehicle; you can either call ahead to request your car or set up a parking schedule with the valet service.

Tremont Street Boston Parking-Space for Sale

Additionally, you do not need to own a condo in the Parkside condo development to purchase this parking space. Contact us today regarding Boston parking spaces – we work with local residents looking to buy and/or sell, as well as investors all over the US and abroad who are interested in leveraging parking spaces in Boston as an income producing asset that can diversify their investment portfolio.

This space is conveniently located a short distance to the Back Bay, Financial District, Beacon Hill, Faneuil Hall, and the Theater District. This is an ideal parking space for current owners in the Parkside condominium complex, students, investors, renters / homeowners at the Tremont on the Common, Ritz Carlton Towers or The Grandview or nearby neighborhoods.

Boston Ritz Carlton Parking Space for Sale

One of downtown Boston’s most recent listings is at the Ritz Carlton Boston. Not a condo, but a parking space for sale in the exclusive Ritz Carlton Millennium Tower.

Own a piece of the highly sought after Ritz Carlton, free and clear by purchasing a Ritz Carlton garage parking space that can be for personal use or as an investment tool. Many garage spaces in Boston require that you pay a monthly HOA fee and real estate taxes, not the case here. The new parking space listing at 2 Avery Street, parking space B2-#6, does not carry any corresponding HOA fees or real estate taxes.

The garage is secure and conveniently located in downtown Boston behind the Ritz Carlton residence entrance. The Ritz Carlton space is self-park, so when it is time to leave ,no need to call ahead just drive out of the garage.

If you already own a condo residence at the Ritz Carlton this would be a great addition to your existing condominium. The list price of the Ritz parking spot is $93,000. For those looking for an investment, the space is currently rented for $375 per month, with the tenant able to vacate in 30 days.

For more information regarding the Ritz Carlton parking space for sale, listing your parking space for sale, or buying a downtown Boston garage parking space, contact us today.

Has Boston Ritz Carlton Lost its Mystique?

When it opened its doors to both residents and guests in 2001, the Ritz Carlton Hotel & Towers Boston Common offered a new level of luxury to Bostonians who sought the comforts of the condo-hotel lifestyle, the aura of the Ritz Carlton name, and some of the most prominent views in the city.  Eight years later, the development remains one of the most popular luxury buildings to call home in downtown Boston, but, have the high-end accommodations lost some of their mystique?

Turnover in the development has slowed over the past several years, while inventory is up, and the number of days it is taking to sell a unit is higher than past years.  There are over 300 luxury condominiums spread across the two Ritz Carlton Towers that sit at the junction of Avery and Washington Streets in Midtown, a stone’s throw from Boston Common.  Since the Ritz’s inception, there have been a large handful of luxury condominium developments to hit downtown Boston, but it was only recently that a large-scale luxury development, 45 Province, came online in the Ritz’s backyard.

“Luxury is not diminished by company.  The entire Boston market has moved toward full service buildings, elevators, concierge, and quality management.  Boston has become a well to do city.  Buyers are looking for and paying for the best of the best of the best,” says William Shirreff, a residential sales agent with Otis & Ahearn, who currently has multiple listings for sale at the Ritz Carlton.

Since 2006, when 56 condos sold in the development (an approximate 18% turnover rate), the number of units that have sold at the Ritz has continued to decrease year on year.  For the first six months of 2009, there has been six (6) sales at the Boston Ritz Carlton condos, significantly behind the pace of 2008 total sales of 36.  Coupled with a high inventory of 35 currently available units in the development, the numbers alone beg the question of whether the Ritz Carlton condos are beginning to lose their momentum as one of the most coveted condo developments in downtown Boston.

“For me it is the location of the Ritz Residences that is the distinguishing difference.  Every full service building has unique characteristic that attracts particular buyers.  I like  the easy access to transportation, e.g. the new ramps to the Expressway at the end of Essex Street,  four “T” transit lines within a block, and short walks to Financial District, Theater District, Charles Street and Copley Square, and the Common and Public Garden at your door,” comments Shirreff.

The median list price for the 35 currently available luxury units is $1,369,000 (while the $1,918,457 average is a much higher number than the median mainly due to the $8.5 million listing price of Manny Ramirez’s penthouse), with an average price per square foot of $980, and average days on market (DOM) of 142.  If compared against 2006 – 2009 sales data (table below), DOM may continue to rise for currently available units given a potentially inflated average price per square foot asking price.


Regardless of the numbers, the classic Ritz name and brand, along with the amenities and location of the development, will continue to drive interest in units at the Ritz Carlton Boston.

“It is the features associated with a particular unit that attracts buyers more than a particular floor plan.  Light, view and terrace or balcony are features most mentioned by buyers.  The particular units I’ve found that “wow” a buyer are the penthouse in the North Tower, the “E” units on high floors in the South Tower, and the units with terraces available in the Ritz III Residences,” says Shirreff.




Condos for Sale in Ritz Carlton Boston

In March of this year, we noticed that the inventory of available Ritz Carlton condos was growing (see Ritz Carlton Flush with Available Condos), and since that time, there has been approximately 28 units at the two building development that have either gone Under Agreement or have Sold. Today, the inventory level of condos for sale in the Ritz Carlton Boston is now sitting at 23 units, priced from $540,000 to $4,250,000.

All current Ritz Carlton Boston Listings: Ritz Carlton Condos (1.9 MB PDF)

For more information on the Ritz Carlton Boston condos, or any other luxury downtown development, please contact us using the link at the top of this page.

Ritz Carlton Boston condos

Lafayette Lofts Penthouse Open House

After a recent price reduction of $50,000, duplex penthouse unit 7F at the Lafayette Lofts development in Boston’s Midtown neighborhood is sitting at just under $800 per square foot. The unit provides outdoor space with excellent city views in a boutique like 42-unit development at the corner of Essex and Kingston Streets.

Lafayette Lofts Boston Midtown

The above photo is of the front upstairs bedroom, complete with double exposure and commanding city views. The two upstairs bedrooms have their own bathrooms, and are separated by an open and bright sitting / office area with tall ceilings and an overhead skylight.

Listed at $1,449,000 and boasting 3 bedrooms and 3.5 baths, this 1,827 square foot unit offers all the perks of Boston penthouse living (including outdoor space) in a sophisticated building. HOA fees are $759 and include Heat, Hot Water, Gas, Water, Sewer, Master Insurance, Elevator, Exterior Maintenance, Snow Removal. Perhaps the only downside to this unit is that it does not come with deeded parking – rental garage parking is available for $385 per month. Lafayette Lofts is a pet-friendly condo development, has two elevators, and offers secure keyless entry (but no concierge). Boston property taxes are estimated at $10,296.44 (not including the Boston residential tax exemption).

Our Featured Open House will take place at Lafayette Lofts (88 Kingston Street Boston, MA 02111) on Sunday, June 08, 2008 from 1:15 PM to 2:15 PM. Also, an additional open house will take place on Monday, June 09, 2008 from 5:00 PM to 6:00 PM for those of you who work in the city and can pop in after work.

For more information about this Boston midtown penthouse at Lafayette Lofts, or the other two units that are currently available in the building, contact us using the link at the top of this page.

Ritz Carlton Flush with Available Condos

The number of available condos at the Boston Ritz Carlton Towers have continued to tick up over the past several months, with 16 currently available units for sale, and another 6 currently Under Agreement – there has been a lot of action at the luxury Midtown location.

There aren’t too many developments that rival the Ritz in terms of size, and availability of units, perhaps Harbor Towers is the only one (see Interesting Week for Boston Condo Pricing for further commentary on what is happening at Harbor Towers). The Ritz, however, is a classic concierge property that has a strong brand name going for it. Price per square foot is currently all over the map at the Ritz, stretching from $570 to $1,600 (list prices from $699K – $5.295 million).

All Ritz Carlton Listings: Ritz Carlton Condos (23.9 MB PDF with photos)

Why the build up in inventory at the Ritz? Quite possibly we’re seeing such a trend because of the new ultra luxury developments that are hitting the market, be that 45 Province right nearby, the Clarendon Back Bay, Mandarin Oriental, Bryant on Columbus, Battery Wharf, or even the Intercontinental, which is quite similar in genre to the Ritz. The Ritz was built in 2000, so it is a relatively new property, but perhaps does not have the same freshness, ceiling height, amenities, or location of other new developments in downtown Boston. There are many different unit types and styles at the Ritz, yet a fair amount of the units have more of an old world type charm to them versus some of the cleaner lines of more recent developments. Nonetheless, the higher units provide commanding views of the city, the Common, the Charles River, and the Harbor.

Condos Available at Lafayette Lofts

Lafayette Lofts is a 42-unit loft-style development in Boston’s Midtown neighborhood, completed in 2005. Units seem quite rare to come by, which makes this an interesting time, as there are currently two lofts available in the building.

Also interesting is that these units represent the low and high price points at Lafayette Lofts, with a $479,000 one-bedroom in Unit 4D, to the $1,550,000 three-bedroom penthouse duplex in Unit 7F. Both units have sleek lines, and are available with rental parking, and the penthouse unit has some fabulous outdoor space which receives excellent afternoon light. The hip Midtown location puts you steps away from all corners of the city.

Unit 7F (the penthouse) will have an open house on Sunday, February 10, 2008 from 1:30 PM to 3:00 PM.

For more information about both listings: Lafayette Lofts Condo Information (PDF). To setup a showing, or obtain further details, feel free to contact us.






210 South Street Boasts Buyer Incentives

They started with 54 available condos at the 210 South Street condo development in the Leather District, and they now have 11. The development team has been coming up with new buyer incentives what seems like every quarter that the remaining units go unsold, including some significant price reductions back in August.

Currently, when you buy a 210 South Street loft-style condo, the development team will pay for one year of condo fees and one year of rental parking. Depending on what unit you are looking at, this could add up to almost $10,000 – would you rather just have the money?

The 11 remaining units at 210 South Street are priced from $575,000 to $1,450,000, and range in size from 1,119 to 2,759 square feet. The penthouse level has exquisite arched windows, with excellent views of the city. For more information on 210 South Street, or other Leather District condos and lofts, contact us using the link at the top of this page.

111 Beach Street Open House

Our Featured Open House for this week is 111 Beach Street #31, a $734,900 loft in Boston’s Leather District boasting 1,475 square feet and two bedrooms and bathrooms. This unit is one of nine (9) that are currently available at 111 Beach Street, which is a complex of 46 high-end Boston lofts with gleaming hardwoods and exposed brick and beams. Pets are allowed at 111 Beach Street, however, only one of each type of pet is allowed (i.e. one dog and one goldfish are ok, two dogs are not).

The open house is scheduled for Sunday, September 9, 2007 from 12:00 PM to 1:30 PM. For more information on this unit, or any of the other Boston lofts that are available at 111 Beach Street, please contact us – for all your Boston real estate needs.