111 Beach Street Open House

September 9, 2007 By

Our Featured Open House for this week is 111 Beach Street #31, a $734,900 loft in Boston’s Leather District boasting 1,475 square feet and two bedrooms and bathrooms. This unit is one of nine (9) that are currently available at 111 Beach Street, which is a complex of 46 high-end Boston lofts with gleaming hardwoods and exposed brick and beams. Pets are allowed at 111 Beach Street, however, only one of each type of pet is allowed (i.e. one dog and one goldfish are ok, two dogs are not).

The open house is scheduled for Sunday, September 9, 2007 from 12:00 PM to 1:30 PM. For more information on this unit, or any of the other Boston lofts that are available at 111 Beach Street, please contact us – for all your Boston real estate needs.

Filed Under: Boston Open Houses Tagged With: , ,

Channel Center Seaport District Condos & Lofts

September 8, 2007 By

Channel Center, a two-building condo loft development in Boston’s Seaport District, is seeing a lot of market action right now, with price changes and new units hitting the market over the past several days, there are now a total of ten available units across the development. The Channel Center development is steps from Fort Point Place at 21 Wormwood Street, and less than half a mile down the street from the new FP3 Boston development.

According to John Keith, around 2004, the Channel Center condominiums at 25-35 Channel Street opened. They did pretty well with sales (although a couple of units stayed on the market, for years). There were two buildings – a converted loft building and a brand-new, modern-looking one, next door. Many of the units in the new building were duplexes with great 20-foot high ceilings. The original developer, Beacon Capital Partners, had grand plans to redesign the entire street, currently made up of a mixture of low-rise industrial and office buildings (with a smattering of artist space, spaced intermittently along the street). They bailed out, last year. The residential sales market cooled (although prices did not), so they decided to pocket their profit and move on.

As reported on August 15, 2007, Commonwealth Center Holdings VAF secured $67 million, and is taking on the second phase of the 1.6 million square foot Channel Center project originally conceived by Beacon Capital Partners, rehabbing the remainder of the area with new housing, office, and retail. Work will commence immediately on renovating three brick buildings lining A Street known as 10, 20, and 30 Channel Center.

As mentioned, there are currently 10 available units (click on link to see listing details for all 10), and what we like about Channel Center in the Fort Point Channel area is the projected $67 million project that will lead to the completion of what was started back in 2004. What does this mean for current residents and potential buyers? Short to medium-term (as well as long-term) gains in equity.

Given the amount of development, money, infrastructure, and attention that the Seaport District is getting these days, this can only lead to positive things as it relates to condo and loft values.

Contact us for more information on any of the Channel Center units, as well as anything else across the city. We have access to every condo in Boston, and enjoy representing buyers.

The below photos were taken of 35 Channel Center Unit 301, which is now priced at $879,000 after a $20,000 price reduction.

35 Channel Center Condos

35 Channel Center Lofts

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

Bostonians Paid Too Much for iPhone

September 7, 2007 By

If you were one of the iPhone early adopters, reported by our friends at condoDomain back in late June, you are probably quite disgruntled by Apple slashing $200 off the price of their new gadget earlier this week. The Wall Street Journal reports today that Steve Jobs, Apple CEO, will be providing a $100 credit to “give something back” to the early adopter crowd (i.e. those who spent $599 on the higher end 8 GB iPhone).

Responding to a flood of emails complaining about a surprise iPhone price cut, Mr. Jobs apologized publicly and said Apple will offer a $100 credit at Apple stores to all iPhone users who paid the original price.

If you purchased your iPhone at the original $599 price within 14 days of Wednesday’s price cut, you are eligible to receive a $200 cash refund. Also note that Apple announced they will be discontinuing the lower end iPhone with 4 GB of memory.

Back to actual condo news later 🙂

Filed Under: Boston

South End Warren Avenue Condos for Sale

September 6, 2007 By

You may be familiar with the D4 Police Station condos that anchor the east end of Warren Avenue, but what else is available currently on this peaceful, well-lit, tree-lined street in the South End? In addition to the 8 remaining units at D4, one other Warren Avenue condo is on the market right now: 173 Warren Avenue Unit 3 (see South End Warren Avenue Condos).

A 1,080 square foot three-bedroom one-bath unit, 173 Warren Avenue hit the market in early June for $729,000, has gone through three price reductions, and is now priced at $629,000 – a whopping $100,000 off the original asking price. Priced at $582 per square foot for a sunny duplex in the northern part of the South End, it’s a a fair deal, bordering on quite good given the comparable sales over the past 6 months on Warren Avenue. If it’s so fair, or quite good, why is it still sitting there after its third price reduction? What happens quite often with properties like this, that are overpriced out of the gate, is that they get one look by agents and buyers and are passed over because they are, you guessed it, overpriced, never to be seen again (note to listing agents, oftentimes you only get one chance, don’t blow it).

173 Warren Avenue has southern exposure, and overlooks the private Carlton Park. A bonus (provided by the seller) to any buyer that comes to the table is the selection of new appliances to your preference, if that means a total Bosch kitchen, we don’t know, but, it’s always worth a shot, we’ll write it into an offer for you. To setup a showing (on 173 Warren Avenue, or the D4 Condos), please contact us.

173 Warren Avenue Boston, MA 02116

173 Warren Avenue Boston, MA 02116

Filed Under: South End Condos Tagged With: ,

Harborview Navy Yard Fails, Now Luxury Rental

September 5, 2007 By

The phone is dead at the sales office, and the plug has been pulled on what was slated to be a hot new condo development in the Charlestown Navy Yard. Thank you to the Boston Biz Journal for recently reporting that Harborview at the Navy Yard, which was to be a 224-unit condo development scheduled for a September 10, 2007 opening, has completely changed direction from being a for-sale development, and now will become a luxury rental property.

With mortgage markets tightening nationwide and local housing sales continuing their slowdown, we determined that the best direction for the project is to reposition the property as an upscale rental building,” said Joseph Torg, a principal with Trammell Crow Residential (the project’s lead developer), in a statement.

We spoke with the Sales Director at the Harborview sales office in mid-June, and we received the thumbs up that everything was progressing nicely, hard-hat tours were taking place with prospective clients, they were on track for a September 10, 2007 opening, and 20% of the units were under reservation. As of today, the sales office main phone number is no longer in service, and any and all mention of Harborview has been pulled from the Boston MLS.

Harborview Navy Yard Condos

Other recent Boston condo development projects with similar reservation levels around the 20% mark have not experienced the same”luxury rental fate” – take Penny Savings Bank for instance, which is well past its July opening, and still, only 6 of its 23 units are sold and there is no mention of changing course.

One of the significant difference between Harborview and other developments that are willing to stick it out in the current market is size (number of units). Harborview at the Navy Yard is a 224-unit monster of a development, nothing else that has hit the market over the past year (or let’s say after the “credit crunch” that is being stoked at every opportunity) compares to it.

However, larger Boston developments have thrived in the past several years, even those that are in Charlestown. The 2005-built Parris Landing, just a stone’s throw from Harborview, boasts 367 units – 21 resale units are on the market currently, ranging in price from $289,000 to $920,000. One Charles (Back Bay / Midtown area), with 232 units, built in 2004, currently has 8 resale units available priced between $795,000 and $2,395,000.

Ultimately, it’s a case of development size and market timing that has given Trammell Crow cold feet about moving forward with Harborview as a for-sale property. Simply put, they had little confidence that they could sell the 180 units that remained in a reasonable timeframe given their impression of the Boston (Charlestown) real estate market (or perhaps that is their real problem, they too have bought into the idea that city center condos are akin to residential suburbs and pan-US housing, which is wrong in theory and when looking at the numbers).

The fate of Harborview does, unfortunately, put into question upcoming “super” developments such as Avenir Boston and The Clarendon Back Bay, two large-scale projects with 241 and 400 residential units respectively, with construction already started, they are both poised to hit the market with occupancy by 2010.

Filed Under: Charlestown Condos Tagged With: ,

New South Boston Condos at Leachmore Point

September 3, 2007 By

South Boston will have a new gateway building breaking ground in 2008. The makers of Court Square Press and the Macallen Building, Pappas Enterprises, has obtained approval from the Boston Redevelopment Authority to move forward on a 64-unit condo development that will sit above the existing Broadway Red-Line T-Stop at the entrance to South Boston after crossing the Broadway Bridge. The new South Boston development will be called Leachmore Point.

Sitting at 11 West Broadway, Leachmore Point will be architected as a brick and glass eight-story structure, a creation of Margulies & Associates, a Boston-based architecture and design firm. The new Leachmore Point building will sit at the corner of Broadway and Dorchester Avenue across from the existing 2004 Court Square Press condo development, and the recently opened Macallen Building – Phase I and II of Pappas’ vision for the Broadway T-Stop area.

Leachmore Point Condos

The project will consist of 64 residential units, including 4,700 square feet of first floor retail (3 retail spaces), along with 69 underground parking spaces.

Sources estimate that ground will break on Leachmore Point sometime during the spring of 2008, and they will shoot for an 18 month construction cycle, which puts an anticipated occupancy date into late 2009. Leachmore Point will offer one, two, and three-bedroom units, with a range of 850 to 1,400 square feet, as well as four penthouse condos that will boast stunning views of downtown Boston, the Fort Point Channel in the Seaport District, and Boston Harbor.

Leachmore Point will be entirely green, everything that Pappas does moving forward will be green construction. Leachmore will be a boutique luxury development, with a fabulous redesign of the Broadway T-Stop,” says Marsha Yamaykina of Pappas Enterprises.

Similar to the Macallen Building (Boston’s first LEED certified condo development), the roof at Leachmore Point will be green – in plan is a 2,000 square foot pocket park, creating a green view for the neighbors living in the condominiums carved out of the old St. Peter and Paul’s Church, which sits across a small parking lot from the anticipated site of Leachmore Point. Other green features of the new development will include cisterns that collect rainwater runoff for irrigating the roof-level park, Zipcars, bicycle racks, and LED lighting that uses a photovoltaic energy system.

Leachmore Point will join the Lofts at 36 A, Allele Boston, Macallen Building, 125 B Street Lofts, 80 A Street, and Court Square Press in a complete redevelopment of the northern side of South Boston. The Broadway T-Stop area of South Boston now joins its sister neighborhood, the Seaport District, as one of the hottest areas of Boston real estate.

Filed Under: South Boston Condos Tagged With: , ,

Boston Residential Tax Exemption – Apply Now

September 2, 2007 By

Every taxpayer in the city of Boston who owns residential property and occupies the property as his or her principal residence on January 1, 2007 may be eligible for the residential tax exemption for Fiscal Year 2008. For the purpose of this exemption, the principal residence is the address from which your Massachusetts income tax return is filed.

Since 1983, the city of Boston has elected to apply a residential exemption to residential property that serves as a principal residence of its owner. The value of the exemption is subtracted from the total full tax valuation. For fiscal year 2007, the residential exemption was 30% of the average value of all residential property in the City. The residential exemption value was $138,767 – equating to residential taxpayers who qualified saving $1,525.05 on their tax bill.

If you have not already, you should soon receive your Residential Exemption Application in the mail at your home address. Applicants are being asked to respond by October 1, 2007. For more information, to file an application in person, or if you have not received your application, please see the City of Boston’s website on residential tax exemption.

*Learn more about how Boston Property Taxes are calculated. 

Filed Under: Boston

One Condo Remains at 65 Broad Street Lofts

September 1, 2007 By

We have received several email inquiries lately (unfortunately with incorrect email addresses, so if you have contacted us, please do so again with your verified email address) about the 65 Broad Street Lofts in the Financial District. Only one unit remains (Unit 5) in this development. Priced at $399K, Unit 5 is a direct elevator access unit with exposed brick, renovated hardwoods, and a completely remodeled bathroom. Contact us (with a valid email address) to setup a showing.

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

Lofts at 36 A

September 1, 2007 By

High-end boutique living with some of the finest Italian finishes in a loft-style setting with the most beautiful stained and scored concrete floors on the market, this is the essence of the Lofts at 36 A. We have spent a lot of time at the development over the past several months, and have really enjoyed the building.

The South Boston neighborhood surrounding the Red Line Broadway T-Stop is absolutely exploding with stunning new developments that each have their own individual focus and feel, catering to particular lifestyles and living standards. The 36 A Lofts is a small, 26-unit, boutique development that is targeted towards a discerning condo buyer who appreciates high-end amenities within the living space, but does not need/want a concierge or fitness center.

Ceiling heights are just under 10 feet, and the south wall of each unit is covered in a bank of floor-to-ceiling windows. Located at 36 A Street (Google Map), the newly constructed development stands six stories high. There are two levels of garage parking, one underground (served by a car elevator), and another on the ground floor accompanied by a commercial space (no restaurants). There are five levels of living space, topped off by a huge roof deck, with a common area and private stalls that are either deeded with a unit, or can be purchased separately (only 2 remaining).

HOA fees include master insurance, water, elevator, and maintenance, and are no more than $300 per month in any given unit. Heating and cooling is high-velocity, and the latest in water heating technology is installed in each unit. Over half of the units are sold or are under agreement currently, however, there are still excellent floor plans and units on all levels of the building that remain.

By far, the most outstanding features of the units are the stained and scored concrete floors, the high-end Fisher-Paykel kitchens, and the Italian bathrooms. You can tell that each unit is well-done, with excellent craftsmanship.

The inside story behind the quality at 36 A is that the developer was going to personally live in the building, so he built it to live up to the high standards of himself and his family – given some recent changes in the developer’s family (good things), he will no longer own within the building, but the high-end finishes and craftsmanship have stayed.

We are providing buyer representation for those interested in the Lofts at 36 A, please contact us for more information, to setup a showing, or to provide assistance in writing an offer.

Lofts at 36 A

Lofts at 36 A

Lofts at 36 A

Filed Under: South Boston Condos Tagged With: , ,

Fire Sale at 210 South Street Lofts

August 31, 2007 By

Perhaps the developer thinks that the Labor Day weekend will bring out hungry buyers, as prices for the lofts at 210 South Street were slashed this morning, some units seeing up to $100,000 markdowns. With the return of college students and hordes of families in town this weekend, it might make sense to throw all caution to the wind and hope for the best in selling the last nine units at the new 54-unit concierge Leather District building.

Price per square foot on remaining units hovers at, and below, $500. 210 South Street (Google Map) currently has one-bedroom, two-bathroom units, some of which could facilitate being turned into a two-bedroom by adding a wall (which we can work into an offer for you). Current prices run between $575,000 to $750,000 depending on size and floor level within the building (penthouse units, with the beautiful arched windows, still remain). All units remaining are over 1,000 square feet, with the majority around the 1,300 square foot mark (a single unit remains that is 1,700 square feet).

210 South Street loft condo fees currently run between 40 and 60 cents per square foot, and include heat, water, sewer, master insurance, security, elevator, exterior maintenance, snow removal, exercise room, and extra storage.

Please contact us for more details and to setup a showing.

210 South Street Lofts

Filed Under: Leather District Condos Tagged With: , ,
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