We have new exclusive photos of the Bryant on Columbus condo development along the northern side of Columbus Avenue on our new featured development page for the Bryant. We’ll be keeping a chronicle of the time series photos showing the construction of this luxury boutique development as it steams towards its currently anticipated completion date of August 2008. Visit the Bryant on Columbus page here on the Boston Condo Blog to see the new photos!
Featured Open House at 125 B Street Lofts
February 17, 2008 By
Back in September, we featured an open house at the lofts at 125 B Street, and this week again, our Featured Open House is the 125 B Street Lofts in South Boston / Seaport District. We love this building for its tall ceilings, exposed brick and beam, and modern and clean finishes.
Originally a schoolhouse, 125 B Street has been converted into 16 luxury lofts, featuring onsite parking in an adjacent lot. Two lofts now remain, all corner facing with double exposures, right around 1,100 square feet, listed at $534K and $544K,
The 125 B Street Lofts Open House will take place on Sunday, February 17, 2008 from 1:00 PM to 2:30 PM . When stopping in, let Julie Holenport, the listing agent, know that you read about the open house on the Boston Condo Blog. For more details, or to submit an offer, please contact us.
Exclusive 45 Province Boston Condo Development Photos
February 15, 2008 By
Boston’s latest Midtown luxury condo development, 45 Province, is steaming towards completion – target completion is April / May 2009. We’re excited to bring you the below exclusive time-series photos provided by one of our readers, Peter Carpi. You’ll see in the first photo below the crane rising over the soon-to-be structure of 45 Province, while the second photo displays significant progress made on the core of the 45 Province structure.
Check out these 45 Province Boston condos for sale to get a feel for unit pricing, square footage, and amenities – you can also request more information about condos for sale or rent at 45 Province and setup a tour of the ultra-luxury building in Boston’s Beacon Hill Midtown area.
Boston Real Estate Market Talking Points
February 14, 2008 By
The Greater Boston Real Estate Board (GBREB) recently published seven talking points regarding the Boston (specifically “greater” Boston, which involves suburbs outside the core downtown) real estate market. All of them are quite interesting, and could be approached and/or discussed from many angles. Here they are:
- The past year was the fifth best on record for residential home sales in Greater Boston with more than 20,000 detached single-family homes and condos sold in 2007. After declining in 2006, sales of detached homes and condos each rose modestly last year in Greater Boston, making it the only region of the state to report an increase in sales activity over the prior year, according to Boston MLS data.
- While home prices declined nationally in 2007 and have fallen in much of Massachusetts for the past two years, home values have stabilized in Greater Boston as the median selling price for detached single-family homes was unchanged at $480,000 in 2007 from one year earlier. Meanwhile, in the condo market, the median price for sold units rose a modest 4 ½ percent to $356,000 in 2007.
- Despite the recent correction in home prices, housing is a solid long-term investment. In fact, median home prices in Greater Boston have increased an average of 6.5% per year over the past decade, and remain 20% higher than they were just five years ago ($480,000 in 2007 vs. $400,400 in 2002).
- The inventory of unsold homes remains plentiful at many price points, but the supply of single-family homes and condos has shrunk substantially in the past year by 14 percent. At the end of 2007, there was a 6 ½ month supply of homes and condos for sale in greater Boston real estate compared to a nearly 8 months in 2006, indicating the market has become more balanced between buyers and sellers over the past year.
- Massachusetts ranks among the bottom five states nationally for annual housing permits per capita, largely due to strict zoning regulations that limits new housing production. This fact, along with strong housing demand from a large immigrant population locally and much more modest real estate investor activity in Greater Boston in recent years should insulate the region from any severe price correction.
- When looking to buy, it’s virtually impossible to time the market. With mortgage rates having declined and now averaging near 6 percent for a 30-year fixed loan, home prices having stabilized locally, and many homeowners motivated to sell, this spring should be a good time to buy.
- Although mortgage lenders have tightened lending standards, financing remains readily available for creditworthy borrowers. Importantly, however, consumers with credit scores under 680 can expect to pay higher rates and points this spring following pricing changes that Fannie Mae and Freddie Mac will impose in March. Thus, those currently in the market may wish to act sooner rather than later to buy.
South End Concord Baptist Church Update
February 13, 2008 By
Back in late January, we reported that the Concord Baptist Church in the South End would be converted into condos (see Concord Baptist Church to be South End Condos). A South End Landmarks Commission meeting took place on February 5, 2008 to review plans for the condos by developer Peter Zagorianakos. Below are the meeting minutes.
Peter Zagorianakos presented conceptual drawings of his plans for developing the church. Parking in basement, accessed either through alley or by curb cut on Warren where present door on east end of Warren Ave façade. Peter contended that there exists an 8 foot easement to church from back alley. This was strenuously disputed by the Pelletiers. Further, Jeanne Pelletier referred to the need to protect the 150 year old oak that grows on the side of the alley. Peter also claimed that the church has a 2 foot easement along the rear of the properties located at 174-182 West Canton.
Then, 4 levels of condominiums, yielding 16 units in all. First floor would use present window line on Warren Ave, wrapped around to façade facing West Canton. Second floor would have high ceilings, utilizing next level of existing windows, wrapped around as first level. The third and fourth levels would be under the cupola, whose height would not be raised. Substantial fenestration in the present roof line was shown, on the third and fourth levels. Windows would be placed in the arches facing West Canton.
Peter contends that the repairs done in 1975 where done badly and that the north and south walls (facing Warren Ave and facing Tremont) are in danger of immediate collapse. Jeanne disputed this, stating that the engineer has a high reputation for historical renovation, which was collaborated by a Commission member.
Views of the Commission members included the notion that this building is of the highest historic value possible and that any changes to the exterior would be done only as a last resort. This was supported by Jeanne’s documentation that the building influenced Frank Lloyd Wright. She also pointed out that the architect consciously protected the privacy of the back yards on the West Canton side by significantly reducing the windows on that side. This seemed to resonate to several Commission members.
The Commission chair asked the community to consider what other usages might be made of the building, if residential usage was not acceptable. And he asked if the community could raise the funds to prevent collapse.
Letters were read by Steve Wolfe and Paul Schmid. Susan Park spoke forcefully about the need for preservation.
The discussion started an hour behind schedule and took an hour. Next step for Peter is to come back with plans to address the issues raised.
It will be interesting to follow this South End condo development as it moves through approval and permitting process, there’s a long way to go at this point.
Boston Restaurant Week
February 12, 2008 By
If you’re like us, Boston’s Restaurant Week always sneaks up on you, and you rarely have an opportunity to grab a table at that new restaurant that you have yet to try. Well, Restaurant Week has been announced for a little while now (scheduled for March 9 – 14 & 16 – 21), but there are still many great tables to grab. For more information, see the Boston Restaurant Week Official Site, and to make reservations, head directly to the Boston Restaurant Week Reservations page on Open Table. Bon Appétit.
Cambridge NorthPoint Fate Unclear
February 11, 2008 By
We receive at least one inquiry every week regarding the status of the mega Cambridge NorthPoint condos project across the river in Cambridge. The ups and downs of the Cambridge NorthPoint project over the past 2 years have been a roller coaster ride for Buyers and the market in general. Based on the most recent Boston Herald article covering the Cambridge NorthPoint project, the development itself is giving earnest money and deposits back to Buyers because there is no clear closing date in sight.
As of February 13, 2008, new updates are also available at Wicked Local Cambridge.
Laconia Lofts South End Open House
February 10, 2008 By
A 1,200 square foot sleek and modern space at the South End’s elevator served Laconia Lofts is our Featured Open House of the week. Recently listed at $499,900, this open loft space features cork floors, a custom designed kitchen with maple cabinets, stainless appliances, Bosch dishwasher, gas cooking, and a Franke sink. The full bath features a Bosch-Poscher sink and water closet, and Grohe fixtures. This loft-style condo is priced below $450 per square foot, and carries a $413 HOA fee.
Sounds like an excellent living space, but the pictures below tell a different story, as it is currently being used as a work space. Look past this however, and see what this Boston loft has to offer you at the open house taking place on Sunday, February 10, 2008 from 12:30 PM to 2:30 PM, located at 1200 Washington Street.
Condos Available at Lafayette Lofts
February 9, 2008 By
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.
The 1850 New South End Condo Development
February 5, 2008 By
Looking for 1850 auction information? Read the latest on the 1850 Boston condo auction for the most up to date information.
It’s a piano factory, it’s a general warehouse, it’s a bolt and screw company’s headquarters…wait, no, it’s The 1850, the South End’s newest SoWa condo development! The five-story building bordering Wareham , Albany, and Malden Streets on the southern tip of Boston’s South End will soon be home to 60 unique condos, many with a loft-style feel, including exposed brick and beams, as well as concrete floors.
It was approximately two weeks ago that VIP tours began at the 1850 building, and of the 60 units available, upwards of 13 units are already under reservation, beating out the fast start that the 285 Columbus Lofts enjoyed several months ago (see 285 Columbus Lofts Buck Downtown Boston Trend).
There are 53 market-rate condominiums available at the 1850, along with 7 affordable units. Market rate condos start at $326K for 722 square feet, and move upwards to $575K for 1,148 square feet. The new loft-style development offers a host of different floor plans and options in the $300’s, along with some very unique spaces. The majority of the units are loft-style single rooms, but many units are accompanied by floorplans, and are configured correctly for, the buildout of bedroom walls.
Where do they get the name ‘The 1850’? 1850 is the year that the South Bay tidal flats began being filled in, thus creating the land where the condo development sits. The development formerly had the name ‘SoHa Lofts’, but the new name, The 1850, holds a nice hint of seductive meaning.
Parking spaces in an adjacent lot number in the high 30’s, and are available for purchase separately (they run around $35K each +/-). HOA fees will be approximately 47 cents per square foot, and parking will be $30 per month should you have a spot. Kitchens are electric, include granite counters, and stainless appliances (including a Fisher Paykel refrigerator). The building is served by one elevator, and two staircases, and is wired for Comcast cable and Internet. Fifth floor (penthouse) residents will have roof rights, but would have to pursue access and buildout of a deck (and all necessary permitting) on their own (i.e. there is no current roof access for residents, but owners will have roof rights).
For a limited time, before the first official open house (which is approaching quickly) at the 1850, there will be a $3K Wells Fargo financing incentive available to Buyers should they finance through Wells Fargo. Occupancy is tentatively scheduled for early summer.
This is a unique 1887 building, with a lot of character, and a really cool story behind it. It’s in the southern most part of the South End, but a very quick walk away from Harrison, Washington, and Tremont. Closet space is somewhat limited in various units, but this is easily remedied, especially if you plan on building out bedroom walls. They did an excellent job of sound proofing the exterior of the building, and some of the views are very nice. For more information, feel free to contact us.
Keith Munsell 
