Columbus Center Now Stalled

May 25, 2008 By

As you know, developers of Columbus Center requested an 18-month moratorium on construction earlier this year, effectively leaving the state of the entire project in limbo. Developers met with officials from the Boston Redevelopment Authority (BRA) on May 1, 2008 to discuss the developers’ attempts to get the project back on track.

Information flowing from the South End News earlier this month paints a somewhat positive picture that parties are moving towards a resolution.

Jessica Shumaker, a spokeswoman for the BRA, said that “nothing really was settled from the meeting.” After filling the agency in on their current situation, the developers, represented by the local Winn Development Company, told the BRA that they’re still exploring their options. “We’re still very much working hard to see if this project can move forward and how we can get it to move forward,” said Shumaker. As for the developers, she said, “They were very committed, they weren’t trying to say to us that they were stepping away at all.”

Last week, the South End News reported that the construction on the Columbus Center site would continue at a slower pace over the next 18 months, according to Alan Eisner, a spokesman for the developers. Eisner said that the developers would be doing “minimal work there” so as to “keep the site in play.”

“If it keeps them going until they can get things finalized and fully move forward, I would say that further proves that they’re committed to finding a solution so that they can move forward,” said Shumaker. “I would say that’s a positive that they’re doing everything they can to get this up and running.”

Given the significant ups and downs that the Columbus Center project has experienced over the years, the only thing that is clear now is that Winn Developers (in business with California Public Employees’ Retirement System (CalPERS) and MacFarlane Partners on this deal) will continue to search for financing to make the development happen – the timeline, however, is uncertain.

Filed Under: South End Condos Tagged With:

285 Columbus Lofts Open for Business

May 23, 2008 By

We had the opportunity stop into the 285 Columbus Lofts development this week. Closings began last week at the development after receiving its certificate of occupancy (ahead of the originally proposed June 2008 opening, which puts them well ahead of the Mandarin, FP3, and the Bryant), and some residents have already moved in and have begun customizing their units. We have to say, 285 Columbus Lofts is slick, the finishes are excellent, and it just feels “plush” and has an aura of calm luxury.

Upon entering the development from the Columbus Avenue main entrance, you’re greeted by the 285 Columbus Lofts Concierge who is on duty Monday – Friday 8 am to 6pm and Saturday and Sunday Noon to 5pm. With only 19 units remaining, nearly 70% of the building is sold – phenomenal pace and numbers that are setting the new baseline for success in the luxury market.

An exclusive video below of the 285 Columbus Lofts lobby and concierge:

If there are any drawbacks to this development, the list is short, namely, lack of views in some units on the north side of the building and no direct access parking. Unit floor plans 01, 02, and 03, which overlook the Back Bay Orange Line T Stop, do not offer great views – you really need to get on floor 7 and 8 (penthouse) before you get above the adjacent parking garage (see exclusive photos below). Parking is, unfortunately, not direct access – garage parking is a 25 year deeded lease at $320 per month (which is on top of monthly HOA fees at approximately 60 cents per square foot).

Interested Buyers can contact us to learn more about available units – the development is move in ready.

The below exclusive photos provide views from floors 2, 4, and 8 respectively of the north facing views overlooking the Back Bay transit station. 285 Columbus has done a superior job of insulating both interior noise, as well as exterior noise.

285 Columbus Lofts - 2nd Floor

285 Columbus Lofts - 4th Floor

285 Columbus Lofts - 8th Floor

Filed Under: Back Bay Condos Tagged With: , , , ,

Wall Street Journal Gets a Clue

May 21, 2008 By

The Wall Street Journal gave some press yesterday to “downtown” real estate markets, Boston included. Some comparisons were drawn between the 2005 market (which some say is the height of the market over the past 10 years) and today’s market conditions. Some of the statistics included in the article reference single family homes, which there are little of in the core of downtown, but the “press” is perhaps finally starting to realize that there is a difference between core downtown Boston real estate and the suburbs or pan-US housing.

Prices in the city’s core (Boston) are off less than 1% over the past year, according to first-quarter data from Listing Information Network, (one of) Boston’s MLS system. The real difference today is that homes are staying on the market for 111 days on average, up from 85 days in 2005.

Prices in key neighborhoods, such as Back Bay, the South End, Fenway and the Waterfront, are all up between 3% and 10%. Beacon Hill and the North End, however, are down sharply, as much as 33%. That’s partly the result of a slew of high-end properties that hit the market in 2006 and 2007 that were priced as high as $1.5 million, skewing the price data upward. Even without those sales, however, the median price would be down by double-digit amounts.

“No one is taking prices higher these days just to see if they can get it, like they used to,” Michael DiMella says of Boston’s downtown core. “But you have to come with realistic expectations. This is a highly desirable area, and you’re not going to find a steal.”

Given the supply and demand principles that are present in the city center of Boston, “deals” on real estate are truly few and far between – more to come soon on setting realistic expectations when it comes to downtown Boston real estate.

Filed Under: Boston Condos

Ritz Carlton Garage Parking Spaces

May 20, 2008 By

If you are in search of a Midtown parking spot, or are a resident of the Ritz Carlton towers, you may be interested to know that two deeded garage parking spaces have recently come available. For more information about these two new spots, see our Boston parking spaces page.

For an up to date view of available condos for sale in the Ritz Carlton Boston, contact us using the link at the top of this page.

Also recently available is a garage parking space at 168 Camden Street in the South End / Roxbury area for $29,000, located adjacent to Carter Park.

Filed Under: Boston Parking Spaces Tagged With:

Condo Sales Strong at 285 Columbus Lofts

May 19, 2008 By

Sales continue to be strong as closings begin at the Back Bay’s (on the border of the South End) newest luxury condo development, 285 Columbus Lofts. Many higher floor units still remain for sale, as well as some of the lower priced one-bedrooms (starting at $525K), but the building is now over 60% sold – a very strong showing in comparison to other developments around the city when comparing sales cycles.

285 Columbus Lofts is being developed by the same team that brought you 360 Newbury, another boutique luxury development in an iconic building. You’ll notice similarities in entrances to the buildings of all things with the exclusive photos below. For more information on 285 Columbus Lofts, or any other luxury Boston condo development, please contact us using the link at the top of this page.

285 Columbus Lofts Entrance

 

Filed Under: Back Bay Condos Tagged With: , , , ,

Court Square Press Lofts

May 18, 2008 By

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

Filed Under: Boston Open Houses Tagged With: , , ,

Modern South End Auction Canceled

May 17, 2008 By

It has not been terribly clear what is happening with the Modern South End. An auction was planned for Sunday May 18th at the Colonnade Hotel to unload the remaining 10 units in the building, however, the auction has been canceled.

The 10 units are still for sale, but the developer received enough inquiries and subsequent interest in submitting early bids, that they plan to not hold the actual auction event, and instead, solicit offers via a sealed bid process on the units up through 7pm on Sunday May 18, 2008, at which time the developer will review all of the offers. 3 of the units have already gone Under Agreement.

Several major takeaways from this information:

  1. Do not show up at the Colonnade Hotel trying to attend the now canceled auction on Sunday May 18, 2008.
  2. If you are interested in submitting an offer on one of the remaining units at the Modern, please contact us, we will work with you to submit an offer before the 7pm deadline on Sunday May 18, 2008.
Filed Under: South End Condos Tagged With: , , ,

South End Concord Baptist Church Condos

May 17, 2008 By

You may have heard about the recent rumblings in the community and on other prominent blogs regarding the Concord Baptist Church in the South End at the southeast corner of Warren Avenue and W Brookline Street.

South End Concord Baptist Church

Peter Zagorianakos, a Boston developer, has purchased the church as the congregation plans its move to another location to accommodate their growing size. Local residents have been concerned about Zagorianakos changing the structure of the building, adding further windows, and what the parking situation will mean.

Much of the acute attention on the situation is naturally the result of nearby residents raising concerns. However, will this be a bad thing for the community? Prefaced by the idea that the congregation is voluntarily moving to a location that better suits their needs, the building’s roof could use some work (the exclusive photo below shows a current view of the roof), windows in the building overlooking neighbors’ outdoor space does not infringe on privacy any more than other nearby South End residents experience, and underground parking for the limited number of potential residents combined with church service parking not overwhelming the center line of Warren Avenue multiple times per week will reduce noise and congestion in the area.

Is this good or bad for the South End, what are your thoughts?

concord-baptist-church

Filed Under: South End Condos Tagged With: ,

Bryant on Columbus From Near and Far

May 14, 2008 By

If you’ve been along the border of the Back Bay and the South End over the past several months, you have more than likely seen the significant progress that has been made on the buildout of the Bryant on Columbus, a 50-unit luxury boutique condo development, that by the looks of it, will finish late this year if it continues at the same pace it’s on now. For a time series photo set, visit our Bryant on Columbus page.

The latest up close construction shot of the development is below. As well, we have an exclusive photo of the Bryant’s construction progress taken from the rooftop of the D4 condos several blocks away (you can see the crane rising above the completed floors at the Bryant, just in front of the 131 Dartmouth building – D4 opened to residents last year, and they are down to only 3 available units in the 25-unit boutique Philippe Starck condo redevelopment of the 1932 D4 Police Station.

bryant-on-columbus-condos

bryant-from-d4-roof-deck

Filed Under: Back Bay Condos Tagged With: , , ,

Boston MLS Status Codes

May 13, 2008 By

If you have taken the opportunity to sign up for email property updates from the Boston MLS (giving you access to address information, taxes, and other pertinent property details not readily available in generic MLS access levels), you have probably seen the various three letter codes that are used to designate the status of a listing in the Multiple Listing Service (MLS) system – ACT, PCG, etc.

We’ve received several inquiries lately as to what each code stands for, and wanted to provide a quick punch list with this information for your reference.

ACT: Active
NEW: New*
PCG: Price Change*
BOM: Back on Market*
EXT: Extended*
RAC: Re-activated*
WDN: Withdrawn (temporarily)
BUP: Offer to Purchase Accepted, back-up offers welcomed

* reverts to Active status after 3 days

UAG: Under Agreement
SLD: Sold
EXP: Expired
CAN: Canceled

To gain access to listings that match your search criteria (neighborhood, price, square footage), sign up for Boston MLS updates.

Filed Under: Buyer Advice
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