Back Bay Open House on Marlborough Street

If you’ve ever moved from the hustle and bustle of Newbury Street in the Back Bay towards the esplanade and the Charles River, you know that once you cross Commonwealth Avenue heading north, the pace of life and city sounds all tend to slow down.  Essentially, that is Marlborough Street, a wide, one-way, tree-lined street in the heart of the Back Bay that puts you moments from everything the city has to offer, but also in a serene setting.

A new listing this week hit the market on Marlborough Street, specifically, unit 1 at 347 Marlborough Street.  The condo is a 605 square foot unit that is accompanied by one deeded tandem parking space, exceptional in-unit and common area storage, and a common washer and dryer that is close enough that you would think it was part of the unit itself.  Listed at $499,000, there is an additional 120 square foot sun room that is not factored into the 605 square foot calculation, which brings the effective per square foot price to approximately $688.

Back Bay location on one of Boston’s most desirable streets! This garden-level home features hardwood floors, exposed brick, and a wood-burning stove. Unique 120 square foot sun room (not included in square footage calculation) floods the unit with light and serves as a great dining area. The galley kitchen offers ample storage and everything a modern cook needs. The spacious bedroom boasts large closets and great built-ins. Common laundry and one deeded tandem parking space included.

An open house will be held at 347 Marlborough Street unit 1 on Sunday, March 15, 2009 from 12:30 PM to 2:30 PM.

347 Marlborough Street Living Room

347 Marlborough Street Sun Room

Audubon Park Condos Turn Rental

Audubon Park in the Audubon Circle area of Boston (near the border of Brookline) has recently switched gears from for-sale condos to apartment rentals. Condo sales have been slow at the completed development where 12 of the 53 condos have sold, with an average price of $563,000 ($592 per square foot), a median price of $617,500, and average days on market of 119.

Located in West Fenway and Boston University’s South Campus area at 16 Miner Street, Audubon Park is a pet-friendly luxury development.  The only other comparable pet-friendly rental building in the area is 1330 Boylston, but with its smaller size and quieter setting, Audubon Park offers a more private escape than 1330 Boylston.  All 53 units at Audubon Park have been built out with contemporary finishes from bamboo floors to granite counter tops – finishes that you don’t consistently see in rental properties.  Also, unlike most apartment communities in Boston, management has decided to allow undergraduate students rent in the building – everyone who moves in must interview with the developer.

Rental prices at Audubon Park start at $2,200 for studios, $2,600 for one-bedroom condos, and $3,200 for two-bedroom units – underground parking is offered for an additional fee. The community currently employs a concierge on weekdays and Saturday evenings, and is considering expansion of concierge hours given the number of residents now in the building. For the time being, renters can get up to one month free if they move in before September 1, 2009.  Management has also considered offering rent-to-own options for those considering a purchase in the next year – it’s likely that these units will be back on the market for sale as soon as the economy picks up.

– Jay Alberino is the Founder & CEO of Eleven Park Realty, and has recently launched myCityApartment, a guide to houses and apartments for rent in Boston, Brookline, and Cambridge. Jay can be contacted to stay up to date with prices and offers, or to take a tour of Audubon Park or other apartments in Boston.

Audubon Park Rental Apartments

Meads of Commonwealth Price Reductions

Following multiple price reductions in 2007, the Meads of Commonwealth lowered prices by roughly 3% on several units in mid-February, putting many of the boutique luxury units below the $1,000 per square foot threshold. Click on the below exclusive panoramic photo of the Meads o Commonwealth to get a feel for the grandeur of the development.

Meads of Commonwealth Condos

Seven units remain at the boutique 13-unit redevelopment, including the grand penthouse listed at $5.5 million. These are stunning residences that we have written about many times before (see Meads of Commonwealth Blog Posts). Given the pricing inconsistencies, these units may have been passed up before, but they are absolutely worth a look if you are in the $2 million +/- property range.

1330 Boylston Mixed-Use Rental Development

Boylston Street is seeing a lot of development this year, with the Boston Mandarin Oriental, and now, the Samuel & Associates mixed-use development at 1330 Boylston.

1330 Boylston is a 200+ unit upscale rental development, which will also offer commercial and retail space. Leasing of units at 1330 Boylston will begin in April 2008, and the tentative move-in date for the 200+ apartments is August 2008. We have confirmed with Samuel & Associates that the entire development will be rental, no condos for sale.

1330 Boylston will feature a Fitness Center, Club Room, WIFI, Concierge services, garage parking, and spectacular skyline views. Rental units will boast stainless steel appliances, granite countertops, in-unit washers & dryers, walk-in closets, and individually controlled heat and central air.

Something interesting that 1330 Boylston has done is provide a live construction cam to see up-to-the-minute development progress from a neighboring building. Condo developments (rather than rentals) should take note of this unique feature moving forward – some developments (Battery Wharf, and FP3 Boston for instance) have picked up on this as something that potential buyers want to see, as well as buyers who have already made reservations for units, but it needs to be leveraged more going forward as buyers want access to real time high-quality information.

Prices Slashed at Meads of Commonwealth

All eight of the remaining units at the ultra luxury Meads of Commonwealth have undergone a price reduction over the past month, the most recent move saw 6 of the 8 units cut in price by as much as $200,000.

Remaining 2-bedroom 2.5-bathroom units are approximately 1,800 square feet, and range in price from $1,699,000 to $1,950,000. 3-bedroom 2.5-bathroom units are approximately 2,400 to 3,100 square feet, and are priced from $2,550,00 to $2,615,000. The 3,800 square foot 3-bedroom 3.5-bathroom grand penthouse with vast outdoor space is priced at $5,500,000.

For more information, or to setup a showing, feel free to contact us.

Meads of Commonwealth