Macallen Building and Neighbors

A popular search phrase lately has been the Macallen Building, a 140-unit luxury eco-friendly development in South Boston.  Macallen opened to residents a little over a year ago, and has been well received by not only Bostonians, but the building has been the center of attention in many regards, namely for it LEED certification, the first in downtown Boston.

We predicted absorption of this large luxury development in South Boston would be slow with the (relatively) high price per square foot being demanded given the investment that a LEED certification requires.  Nonetheless, absorption has been steady, with currently only 16, both resale and developer, units for sale in the building. While sales prices at the Macallen over the past 6 months (10 units sold) have only been at 89% of list price, the price per square foot has averaged $570, which is still setting a new standard for South Boston.

Macallen’s sister development, Court Square Press, in comparison, has 5 units for sale currently, and over the past 6 months, the 7 units that sold in the building averaged $464 per square foot.  Court Square press offers more classic loft style living with exposed brick and beam, at a lower price point than Macallen, however, Court Square Press residents enjoy all of the same common amenities that Macallen residents enjoy – Macallen and Court Square Press were both built by Pappas Properties, and share a parking garage, lap pool, large deck with grills, fitness center, and viewing room with adjacent kitchen and bathroom (perfect for private parties).

Across the street, Macallen and Court Square Press have two new neighbors, the Allele building, and the Lofts at 36 A.  The Boston MLS shows that there are currently 18 condos for sale at Allele, with the average price per square foot of those sold over the past 6 months at approximately $390. The Allele is a new construction building, and boasts small outdoor balconies, yet lacks the same level of amenities that Macallen and Court Square Press can offer residents.  While the Lofts at 36 A lack some of the same amenities, it offers residents high end finishes, and a fabulous roof deck (both common and private spaces).  36 A, a boutique 26-unit development, is almost sold out, with 3 units currently available.  Over the past 6 months, the 14 units that sold averaged approximately $465 per square foot.

With all four of these developments being steps from the Red Line, they represent a viable alternative to some of the other core downtown neighborhoods, allowing your dollar to be stretched a little farther, especially in new construction.

Court Square Press Lofts

The luxury redevelopment of the Court Square Press building in South Boston continues to offer up great floorplans and spaces for those looking to make the move to a concierge building with unparalleled amenities at a great price per square foot.

The latest addition to the mix of available Court Square Press Lofts is unit 110, a 1,207 square foot one-bedroom two-bathroom spacious and open floorplan. Unit 110 boasts soaring ceilings, exposed brick and beam, and all of the amenities that you’d expect from a luxury condo development. The unit is currently listed at $529,000 ($438 per square foot), carries a condo fee of $308 (and yes, that includes pool, concierge, gym, viewing room, etc.), and one deeded garage parking space.

Unit 110 at the luxury Court Square Press condo development is our Featured Open House this week – visit this loft on Sunday, May 18, 2008 from 12:00 PM to 1:30 PM. For more information about the northern South Boston area, one of the hottest areas of the city, please contact us.

Court Square Press Unit 110

Court Square Press Unit 110

Great Floorplan at Court Square Press

Last weekend, we stopped by unit 306 at Court Square Press for an ad-hoc showing with a client. At that point, the unit had not yet officially gone into the MLS. It’s now officially on the market for sale. Unit 306 is a 1,129 square foot courtyard-facing unit that gets good sunlight throughout the day, and offers one of the best floorplans at Court Square Press.

Listed at $559,000 ($495 per square foot), Unit 306 boasts 2 bedrooms and 2 baths, an office space built into an old elevator shaft adjacent to one of the bedrooms (essentially making it a 2+), a high-end kitchen, and exposed brick and beam architecture. One deeded garage parking space is included, and HOA fees are $356 per month.

The concierge-served Court Square Press loft building sits in what we call “northern South Boston“, a part of the city that is seeing more development and attention over the past 8 years – there are some exciting things happening in the area in terms of further luxury residential buildout, more services and restaurants are in and coming, and Gillette is moving their headquarters across the street from Court Square Press.

Our Featured Open House will take place at Court Square Press (9 W. Broadway) on Sunday, April 27, 2008 from 12:00 PM to 2:00 PM. Tell the listing agent that you read about the open house here at the Boston Condo Blog. Read more about Court Square Press history.

Court Square Press Lofts

Court Square Press Unit 306

Court Square Press Unit 206

Boston Condo Development Cream of the Crop

As we draw closure to 2007, it’s time to take a look at some of the top available options for 2008 in Boston condo developments. It’s actually quite difficult to single out the cream of the crop in the downtown Boston market because there are so many options for Buyers currently as great product continues to hit the market, and let’s face it, different developments suit different needs and lifestyles. With there being truly a large number of gems in the core downtown market, we are unfortunately skipping over many top-notch properties. We’ll continue to cover the entire market with in depth features, but, here is our short all around list, with straight-forward honest talk, for 2008.

  • Court Square Press – the Court Square Press building in northern South Boston has a good historical story, but it may be the recent completion of its sister property, the Macallen, that catapults Court Square Press itself to our list. With the completion of the Macallen, the concierge-served residents of Court Square Press now have access to an absolutely gorgeous 20,000 square foot plaza with grills and a lap pool, as well as a high-end screening room with kitchen and bathroom that can be reserved by residents for private parties. Many units in Court Square Press feature loft-style brick and beam living, and recent upgrades to the in-house fitness center are stellar. Some of the only drawbacks to Court Square Press are some units receive poor light, and some residents have voiced concern over noise cancellation, however, apparent concerns have decreased significantly in this area. In the past, location may have been called a drawback to this development, however, there are multiple condo developments that are popping up adjacent to Court Square Press, and this is driving commercial entry into the area, turning northern South Boston into one of the hottest areas of the city.
  • Bryant on Columbus – we’re going out on a limb in placing the Bryant on the list, namely because it is not complete yet. Nevertheless, the Bryant will offer lauded three-bedroom floor-through units with soaring ceilings and high-end amenities. The location will put you on the border of the neighborhood feel of the South End, and the “city living” surrounding Copley Square. Good inventory remains in the building, so great choices are still available at the Bryant, with an anticipated completion date of August 2008. Potential owners still need to consider heavily the location of their unit, and the natural light that will be available – the units will have excellent southern exposure, but will be in close proximity to the large 131 Dartmouth building behind it. Outside of a lack of multiple exposure windows, the only remaining drawbacks to the Bryant could be a 5-day concierge (however, HOA fees are substantially lower than similar direct-elevator luxury buildings), and the lack of excellent city views.
  • 44 Snow Hill – this was a five-unit high-end renovation of a classic North End property. The last of the units sold in late July 2007, and we’ll need to keep our ears to the ground for a resale opportunity at this boutique development. Superb craftsmanship and exquisite finishes highlight the property. With only a two minute walk to the Waterfront, high ceilings, modern kitchens, and superb baths, 44 Snow Hill will be a diamond in the rough for a long time to come. Perhaps the only drawbacks to these units would be the laundry being communal in the basement, rather than having in-unit facilities, and parking is available for rent across the street rather than direct access.
  • Meads of Commonwealth – we’ve written a fair bit about the Meads of Commonwealth, and for good reason, it is one of the finest properties in west end of the Back Bay. The quality of these units are unparalleled, the fixtures and amenities are truly spectacular. The units at the Meads are flowing floor-throughs, many with superb entry ways, and all with direct elevator access. What’s missing, well, perhaps a concierge, which for a property of this caliber, has been overlooked. The location of this boutique high-end development could be looked at as a minus, with it being away from the hustle and bustle of Newbury Street shopping or the tranquility of the Public Garden.

No list is going to be perfect. Bottom line, the condo options available across the core of downtown Boston are stellar, all of them accommodating different needs and lifestyles through various amenity levels. For more information on the above-mentioned developments, or to discuss any of those we did not cover in this blog post, feel free to contact us.

Great Choices Hit Market at Year End

One would think that the market would bundle up for the winter and hibernate, but there have been a large handful of great listings that have hit the market over the past week, be them new, or several price reductions. The Boston real estate market is pushing to finish the year strong, despite getting snowed in this week. Let’s take a look at what we’re talking about – for more information about any of these listings, or to setup a showing, please contact us.

52 Athens Street (also known as the 80 A Street Condominiums) along the border of South Boston and the Seaport District currently has two units for sale. Unit 1, a 1,313 square foot loft-style duplex condo with soaring ceilings and bamboo floors underwent a $30K price reduction after being on the market for 38 days. The move takes this unit down to $459,000 ($349 per square foot). This particular unit is one of the higher-end condos offers one of the best spaces in the 12-unit development along A Street.

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A somewhat rare smaller unit (610 square feet) has come available at One Charles, the Midtown luxury condo development that was completed in 2004, steps to Boston Common and the Public Garden. This $584,000 condo was designed by renowned Eugene Lawrence and was recently featured in Boston Globe Magazine’s “Ultimate Bachelor Pads” issue for its unique space-defying sense of grandeur. It comes with a single deeded tandem garage parking space.

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Unit 322, at the luxury South Boston Court Square Press 130-unit condo development, just hit the market. This brings the total of available units in this building to 6. Court Square Press remains one of the classiest places to call home in northern South Boston, and with the June opening of Macallen, residents now enjoy a host of further amenities. Included in this 1,296 square foot, two-bedroom two-bathroom, $599,000 loft is one deeded garage parking space.

One gorgeous unit at the oftentimes overlooked loft-style condos at 27 Wareham Place deep in the South End took on a small price reduction, moving it to $697,000 for the two-bedroom two.five-bathroom, 1,271 square foot loft. Parking is included in this common roof deck 30-unit development that was finished in 2000. You’ll probably begin to see these units catch on a bit more, especially with the SoHa Lofts (now called the 1850) going up right down the street.

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You don’t see many units come available at the Boston Metropolitan, in Boston’s Chinatown, adjacent to the New England Medical Center, also home to Tufts University School of Dental Medicine. Unit 2209 is a penthouse unit boasting 1,325 square feet over multiple levels, and a wrap around balcony with southwest views. The Metropolitan was finished in 2004, and this unit comes with 2 garage parking spaces, and is priced at $949,000.

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The North End brings us Unit 4B at 287 Hanover Street, a renovated 2,358 square foot three-bedroom loft-style condo with soaring ceilings and high-end everything. This unit just came back on the market, and is priced at $1,199,000 ($508 per square foot), and is part of the Seaman’s House. Low condo fees for a $1 million+ property at $350 per month, however, no deeded parking with this unit – yet, definitely worth a look.

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And finally, Unit 823 at Lincoln Wharf, adjacent to the up and coming ultra luxury Battery Wharf, recently saw a $100K price reduction, moving this unit to $1,295,000 for 1,853 square feet. The renovated unit features 20′ ceilings and great water views, as well as Asian walnut floors. Parking is rented. The unit has been on the market for 58 days now. The $1,000 HOA fee includes Hot Water, Water, Sewer, Master Insurance, Security, Laundry Facilities (that’s how they do it in this particular building), Elevator, Exterior Maintenance, Landscaping, Snow Removal, Recreational Facilities, Exercise Room, Sauna/Steam, Clubroom, Extra Storage, Refuse Removal.

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Court Square Press South Boston Open House

Our Featured Open House of the week has found one of the best units at the Court Square Press building in South Boston. The pickings for open houses, given the Holiday weekend, are rather slim, but if you have not already seen this unit at the 130-unit luxury development in South Boston, it’s worth a look.

Unit 416, priced currently at $539,000 after 2 price reductions, this 936 square foot unit on the 4th floor, with excellent views and light, has the capability of being converted from a one-bedroom into a two-bedroom loft (optional floor plan included). High-end finishes through the kitchen, and two bathrooms. The exposed brick and beam give this unit character, and the amenities of the Court Square Press development (as well as the neighboring Macallen to which owners have access) boast a full fitness center, lap pool, outdoor grills, private screen room with kitchen and bath, 24-hour concierge, and deeded garage parking valued in the neighborhood of $50,000.

The open house will take place on Sunday, November 25, 2007 from 11:00 AM to 3:00 PM. For buyer representation, or more information, use the Contact Us link at the top of this page.

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Prices at Macallen Building

We’ve received a number of requests from clients interested in pricing levels at the recently opened Macallen Building, the green LEED-certified 140-unit luxury development in South Boston.

There are currently 32 units that are available in the development, with pricing starting at $475,000 (approximately $600 per square foot). Units include very high-end amenities, and access to a host of services provided by the dual-access Macallen and Court Square Press buildings (gym, heated pool, screening room with kitchen and bath, garage parking, etc.).

For more information: Macallen Building Pricing Information (PDF)

For more information on any of the individual units at the 141 Dorchester Avenue Macallen Building, or to setup a showing, please contact us. Dig a little deeper and learn more about the history of the neighboring Court Square Press building, and where the Macallen Building got its name.

Macallen Building

Luxury Boston Condos

There has been a swath of luxury Boston condos that hit the market over the Holiday weekend. These units are trend-setters as we move into the final quarter of 2007. The numbers don’t lie, high-end million dollar + properties in Boston are selling in force this year, and with a selection like the below, there’s no question as to why.

Starting at just under a million dollars, there is a new Boston Ritz Carlton condo at 1 Avery Street that hit the market for $995,000. The unit is a two-bedroom two-bathroom 1,085 square foot high-end full-service living experience. This is a corner unit with multiple-exposures, and a 270 degree view of the Financial District.

In the exclusive Folio Boston development, an 1,880 square foot three-bedroom two-bathroom penthouse unit is now available. With 12-foot floor-to-ceiling windows and multiple exposures of the Harbor and the Greenway. Valet parking included for $2,120,000. The Folio is located on Broad Street, which is turning into a very hot niche of the Financial District, with the recently sold out 65 Broad Street development, and the upcoming completion of the delayed Broadluxe project.

Folio Boston Penthouse

Folio Boston Penthouse

And perhaps the grand-daddy of them all is the recently announced 2,589 square foot developer’s (yes, Pappas himself) unit at Court Square Press in South Boston. The unit features two deeded garage parking spaces, four bedrooms and four bathrooms, and is listed at $2,495,000, including a $200,000 home theater system. This home was featured in Metropolitan Home magazine.

Court Square Press Penthouse

Court Square Press Penthouse

Court Square Press Penthouse

For further information on any of these condos, or any of the other million dollar Boston condo listings, please contact us.

The Three South Boston Amigos

If you like new developments, then the area surrounding the Broadway Red Line T-Stop is your new hot spot. 2007 has seen the completion, and near completion, of what we are calling the Three South Boston Amigos – the Lofts at 36 A, the Macallen Building, and Allele Boston.

These three condo developments are setting a new baseline for high-end living in the northern part of South Boston, with existing standards (Court Square Press) and some more to come in the upcoming years (Leachmore Point, now to be called Eleven West Broadway). Both the Macallen and 36 A opened to residents around the June 2007 timeframe, and Allele is planning for an early 2008 occupancy date. The exclusive photo below shows Allele Boston in the foreground, and the newly completed Macallen Building in the background, with the South End and Back Bay skyline to the left.

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For buyers looking for the opportunity to build short to medium term equity, this area of Boston should be of pertinent interest. With the amount of development that has already happened, and that which is planned, the neighborhood will continue to blossom. For instance, we recently announced that Tapeo Boston will open a new South Boston restaurant on the ground floor of Allele, adding to the draw of the area. Small things, like reconstruction of the median between Macallen and Allele on Dorchester Avenue and the planting of trees will, again, add to the beauty and allure of the area. Significant retail is planned for Court Square Press (an organic market complete with top choice butcher), Macallen (yoga studio, dry cleaner, cafe, and small offices), and across the street from the T-Stop, a not yet announced art / wine gallery.

The Lofts at 36 A is a 36-unit 6-story boutique development that features very high-end finishes throughout, including some of the best bathrooms in the city, and exquisite scored and stained concrete floors. The development features a common roof deck situated next to numerous private roof deck spaces, and two levels of garage parking, the lower of which is serviced by a car elevator. This is a high-end, but no frills (no concierge or fitness center) condo development. 36 A features a single retail space on the ground floor.

Allele Boston will be a 48-unit 6-story (but will sit slightly lower than the adjacent 36 A building) development that is aiming for a February / March 2008 opening. Allele, which means hybrid, offers traditional home features with loft style feel, some with terraces, and garage parking for an additional purchase price. Allele will feature a ground floor restaurant (Tapeo of Newbury Street is currently the target client).

The Macallen Building is a LEED Gold Certified (Green) 140-unit mini-mega development. Macallen represents the second phase of the Court Square Press buildout, and is a full service luxury building that is the first green residential building in the city of Boston with an outdoor heated pool on an 18,000 square foot plaza, garage parking, and a viewing / entertainment room, and fitness center (in Court Square Press).

Developers are creating a very high-end, desirable enclave just south of the city, and it’s only a ten minute walk to the South End, or a quick T ride to Downtown Crossing. Residents of other recent area developments, namely 80 A Street (also known as 52 Athens) and 125 B Street Lofts, which are seen as perhaps a lower price option to Macallen, 36 A, or even Court Square Press, will soon be enjoying the fruits of their sister developments’ labor by way of increased condo values, and augmented commercial and retail options.

For a complete look at what is available in each of the Three South Boston Amigos, or any of the other sister developments, please contact us. The exclusive photo below shows the lineup of the Three Amigos along W 4th Street (closest to farthest: Lofts at 36 A, Allele Boston, Macallen Building).

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What Can I Buy in Boston's Seaport?

So what can you get for $300,000 to $450,000 in the Boston Seaport? Actually, you get quite a bit – at around $500 per square foot, your dollar goes far in the Seaport.

There are currently four Seaport condos on the market (three immediately available) that fall into the price range. Two of the condos are part of the Court Square Press condo development (considered more South Boston than Seaport District), one deeper in the district on 2nd Street, and one being part of the May 2008 ready FP3 Boston development.

Boston Seaport Condos

The Boston Seaport District is a hot area for new developments, and only a short walk into the Financial District and an under 10-minute walk to Boston’s South Station. The Seaport is offering good value for your money, and some attractive loft and condo options.

Court Square Press Condo Development