Free Boston Condo Staging

September 5, 2008 By

As part of the Boston Globe’s Sunday magazine fall real estate issue that will run on October 26, 2008, the Globe is having a contest in which local Boston condo sellers can get one room of their home professionally staged for free.

Is your home for sale but not attracting the offers you’d like? Home staging often means the difference between a quick sale at top dollar and a home languishing on the market. The Boston Globe Magazine is offering two readers the chance to win a free staging of one troublesome room in their homes by a professional home stager. The stager will creatively use only the materials already found in your home — and will work miracles in the process! The results will appear in the Globe Magazine’s fall real estate issue on October 26, 2008.

For more information, visit the Boston Globe’s details page – entries are due at midnight EST, September 11, 2008.

Filed Under: Seller Advice

Recently Sold Atelier 505 Condos

September 4, 2008 By

Atelier 505 (at 505 Tremont Street in the South End) ushered in a new baseline of luxury condo living when it completed construction in 2004.  While there have been several other developments before and after it, Atelier 505 remains as perhaps the most coveted concierge building in the heart of the South End. The 103-unit building sees little turnover each year given the amenities, location, and lifestyle that the building offers residents.

Atelier 505 South End

In 2008, 5 units at Atelier have sold (408, 309, 417, 202, 506), all of which closed on or after May 30th (Sellers leverage the “hot” summer selling season). The details around the sold statistics are interesting, most notably:

  • Atelier listings commanded a 95% sales to original listing price ratio
  • Only 2 of the 5 listings underwent a price reduction during the sale process
  • Average price per square foot was $847
  • Average HOA fees were $0.77 per square foot
  • Average Days on Market was 74 (excluding unit 408, it was only 29)
  • Sale prices ranged from $700,000 to $1,375,000
  • At least one deeded parking space was included in each sale

Atelier 505 sets the bar high for other surrounding condo developments, and will continue to remain one of the premier buildings because it provides a boutique feel while leveraging its medium size (of 103 units) to offer a complete package of amenities (onsite fitness, library, outdoor space, onsite parking, and 24 hour concierge) that other smaller, and sometimes larger, luxury developments cannot boast.

Currently for sale at Atelier 505 is a 691 square foot studio with outdoor space overlooking Tremont Street, listed at $689K (one deeded parking space is included). Contact us for more information.

Filed Under: South End Condos Tagged With: , ,

Boston Ranked as Adventure Town

September 3, 2008 By

Quite often, MSN puts together various real estate related reviews of cities across the country, and their latest put Boston at the head of the class for the top 12 next great adventure towns and America’s most walkable big cities.

Boston ranked 11 out of 12 in the next great adventure towns in America survey, where MSN says just a few years ago, Bostonians were knee-deep in the $15 billion construction chaos that was the Big Dig. But these days, the new Rose Fitzgerald Kennedy Greenway has made the inner-city waterfront more accessible (and appealing) than ever, with a 15-acre strip of parks designed for everything from yoga to concerts.

Interesting to note that last year the Environmental Protection Agency gave the Charles River a B++, good enough to do the once unthinkable: backstroke alongside the scullers.

Boston ranks third on MSN’s list of most walkable US big cities, behind San Francisco and New York. One of the comments that we hear most often from clients, especially those from out of town, is how easy it is to walk across Boston.

Boston, Massachusetts real estate professionals on ActiveRain.com

Filed Under: Boston

Franklin Cafe Slated for Allele South Boston

September 2, 2008 By

Nothing official has been announced, but it appears that a Franklin Cafe will occupy the new ground floor restaurant space at Allele South Boston. Various names have been floating around this development for quite some time, including a Jae’s Cafe, and Tapeo.

The West Broadway Neighborhood Association recently reported that the Franklin Cafe’s request to acquire an alcohol license with a 2 am closing hour was approved.

Residents at the surrounding condo developments continue to enjoy commercial buildout of their neighborhood, hardening property values by bringing further amenities to bear.  Sources state that the buildout of the gourmet market on the ground floor retail space of Court Square Press will begin shortly as well.

Allele Condo Development

Filed Under: Boston Restaurants Tagged With:

Boston Sales to List Price Ratio

August 31, 2008 By

As we wind into the final months of the summer real estate season, we wanted to take a look at what happened over the past month specific to sales to list price ratio (i.e. the sales price represents what percentage of the list price). If the value is equal to 100%, a Buyer offered full asking price, if the percentage is less than 100%, than the Buyer got an accepted Offer by offering less than the full asking price.

  • 286 properties sold between July 31, 2008 and August 31, 2008 (according to the Boston MLS)
  • The sales to list price ratio was 97% (96.67%)
  • 241 sales were below list prices (84% of all sales)
  • 17 sales were at full asking prices(6% of all sales)
  • 28 sales were above list prices(10% of all sales)
  • Neighborhoods included: Back Bay, Beacon Hill, Financial District, Leather District, Midtown, North End, Seaport District, South Boston, South End, The Fenway, Theatre District, Waterfront, West End

The two condos that garnered the highest sales price related to its list prices were 10 Hanover Avenue Unit 3 in the North End, which as a short sale, was listed at $274,900, but sold at $365,000 ($529 per square foot).  And 67 Rutland Street Unit 1 in the South End, a 2 bedroom 2.5 bathroom condo that was listed at $649,000 and sold at $715,000.

On the other end of the scale, 40 Battery Street Unit 305 was listed at $2,300,000 and sold for 1,950,000 on August 1, 2008 in the North End Waterfront. And 215 Commonwealth Avenue Unit 3 in the Back Bay was listed at $2,100,000 and sold for $1,795,000.

When making an Offer on a condo, some might say “how strong of an Offer do you want to make?” with the assumption that being closer to 100% of list price is strong, obviously, this needs to be taken in context.

Several takeaways may include:

  • Short sales typically represent the “bargain” that some are looking for in a list price, at least on paper, but given that they are few and far between in the core of downtown Boston, the eventual sales price, despite all the extra hoops, may not translate into an actual bargain
  • There is a decent percentage of the market that is being accurately priced at the time of listing, and Buyers are recognizing this, and willing to compete for a property by offering full asking price or above. A comprehensive comparable market analysis (as well as other factors)  is needed to feel confident in offering above list price.
  • Of the 26 high end condos ($1 million +) that sold in the period, 5 of them sold for above asking price (Wilkes Passage and 249 Beacon Street for example) , while 21 sold for below (Burroughs Wharf, The Prince, and One Charles for example).  Perhaps there is more room to negotiate at the high end if the comparables warrant it.
Filed Under: Boston Condo Statistics Tagged With: ,

45 Province Boston

August 28, 2008 By

Following the topping off party in June 2008 at 45 Province, one of Boston’s most anticipated luxury condo development projects, the public has quickly turned its attention to the planned early 2009 opening.  The 32-story high-rise on the foot of Beacon Hill in Boston’s Midtown neighborhood (steps from Downtown Crossing) can boast as one of the most comprehensive condo developments in all of Boston.  Read on for an updated review of the development, including sample listings, and exclusive photos.

[Read more…]

Filed Under: Midtown Condos Tagged With:

Wanted: Garage Parking

August 27, 2008 By

There are occasions when the current inventory on the market (be that a condo or a parking space) has been reviewed, and nothing is exactly “right”, and that is when, in the past, we have reached out to our significant reader base to inquire if there is something out there that is not yet on the market, but the current owner would be interested in selling.

Currently, we have clients who are seeking a garage parking space for a high-end automobile. The available parking spaces across the city come up short in some aspect.  What we are looking for is the following:

  • Garage parking
  • Non valet service (i.e. owner must park their own car)
  • A corner spot or a situation that significantly limits the exposure the automobile would have to surrounding vehicles
  • Low HOA fee
  • Garage must be located in Boston proper

Should you, or someone you know, have a parking space that specifically meets the above-mentioned criteria, and would be interested in pursuing an expedited cash sale, please reach out to us using the contact us link at the top of this page – we will get back to you promptly with more information and a request for photos of the parking space.

Filed Under: Boston Parking Spaces

Unparalleled Views from Strada 234 Penthouse

August 26, 2008 By

The word “penthouse” often invokes positive thoughts, and even more so if that penthouse comes with a view. Potential Buyers at Strada 234 (234 Causeway Street), a luxury concierge building in Boston’s North End Waterfront are not left wanting with the panoramic views and amenities offered by unit 1209, a two-bedroom two-bathroom 1,233 square foot condo that has recently been listed for sale.

From Old North Church in the heart of the North End, to the Financial District and Midtown picturesque skyline, unit 1209 boasts floor to ceiling windows that allow residents to soak up every inch of the sprawling view.

“Strada 1209 is a “wow” factor view the moment you enter the penthouse home.  Walking distance to all the best restaurants of the North End / Waterfront, Strada 234 offers a great value compared to other concierge buildings,” says Patrick Cutter, the listing agent of unit 1209 and resident of Strada 234.

Unit 1209 includes one deeded valet garage parking space – one of 75 parking spots in the below grade parking garage (current value on a parking spot in the direct elevator access garage is approximately $75,000).

Offered at $1,099,000, unit 1209 at the Strada 234 condo development offers an open kitchen floorplan with Sub Zero and Viking appliances, a 24/7 concierge, and fitness center.  Monthly HOA Fee is $1,184. For more information, please use the contact us link at the top of this page.

strada-234-views-1

strada-234-views-2

Filed Under: North End Condos Tagged With: , ,

Exclusive W Boston Residences Update

August 25, 2008 By

Inquiries and interest continue to grow for the Boston W Hotel and Condos, an under construction mixed-use condo development scheduled to open in late 2009. By clicking on the ‘Boston W Hotel Condos’ tag above, you will gain access to all blog posts on the W Boston Condos – we’ve assembled some of the most exclusive photos of the condo development thus far, from panoramic views of the early construction site, to bird’s eye shots that provide unique views not seen anywhere else.

The Boston W development team is currently in the process of finalizing condominium documents, construction of a sales center that will house a model kitchen and bathroom, and preconstruction pricing for the studio, 1, 2 and 3 bedroom residences. Get more exclusive information and photos by clicking on the below hyperlink.

[Read more…]

Filed Under: Theatre District Condos Tagged With: , , ,

Boston Restaurant Week Extended

August 24, 2008 By

The success of Summer Restaurant Week has been incredible – for both visitors and residents. More than 65 of our participating restaurants are extending through the Labor Day weekend,” said Patrick Moscaritolo, President & CEO of the Greater Boston Convention & Visitors Bureau (GBCVB).

Restaurant Week Boston is sponsored and presented by the Greater Boston Convention & Visitors Bureau and American Express, in partnership with corporate sponsor, the JetBlue Card from American Express.

Diners will enjoy 3-course lunches for $20.08 and/or dinners for $33.08 at restaurants throughout Boston, Cambridge, the suburbs and beyond. Price is per person and excludes beverage, tax and gratuity.  Offer cannot be combined with any other offer or promotion.

Restaurant Week Boston is a perfect time to sample new restaurants and visit old favorites as chefs prepare delectable 3 course meals for your dining pleasure. Reservations and menus for Restaurants extending the Restaurant Promotion are on: www.BostonUSA.com/RestaurantWeek.

Filed Under: Boston Restaurants
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