Archive for the 'Back Bay Condo' category

(Photo Credit: avaloncommunities.com)

AvalonBay Communities Inc. is at it again! The luxury apartment developer is currently hard at work putting up the Avalon Exeter, at 88 Exeter Street in the Back Bay neighborhood of downtown Boston.  The sleek new construction project is underway, and expected to deliver an additional 187 rental units to the Boston market in the fall of 2013.  The residential tower will be an impressive 28 stories, and will offer studios, one-bedroom, two-bedroom, three-bedroom, and penthouse floor plan units.

Avalon Exeter boasts the state-of-the-art resort-style amenities that clients have come to expect from the Avalon brand name:

    •    Fitness center
    •    Swimming pool
    •    Lounging decks
    •    Clubhouse
    •    Playgrounds
    •    Garage parking
    •    Concierge
    •    LEED certification

The Avalon Exeter will also include high-end finishes, typical of the Avalon name, floor to ceiling windows, and panoramic views of Cambridge, Back Bay, and downtown Boston. 

As if these luxury amenities weren’t enough, Avalon Exeter, along with all AvalonBay luxury rental communities offers its tenants its prestigious Avalon Access website portal; where tenants can make maintenance requests, set up utilities, and make rent payments online.

The future luxury building will be located on Exeter Street next to the Lenox Hotel and opposite the Prudential and Copley Malls; which, given the immediate location, tenants will enjoy open access to the malls. 

As noted, this luxury building is scheduled for availability starting in fall 2013. Alternatively, if you or need housing immediately please call me, Jonathan at 617-320-6548 or jgoldman@bradvisors.com.

The Avalon at Prudential is a luxury apartment complex located just down the block from this project, and the amenities and units are not only very comparable, but practically identical.
 

No. 6 Newbury, designed by architects Peter Marino and Richard Bertman, is intended to resemble Coco Chanel’s Paris apartment and first store. Above left, a rendering of No. 6 Newbury; above right, the exterior of 31 Rue Cambon, Paris.

A new luxury building is coming to 4-6 Newbury Street, which currently houses a garage. Construction on No. 6 Newbury will begin in late spring, with units expected to be ready in Feburary of next year.

The first two floors will be home to a 10,000 square foot Chanel store, and the exterior is intended to be reminiscent of Coco Chanel’s Paris apartment and first boutique. The four floors above the store will contain six luxurious residences.

These two and three bedroom condos, ranging from 3,000 to 4,500 square feet, will feature finishes customized to their respective owner’s style requests.

The price? If you have to ask, you can’t afford it. These units are expected to sell for between $3.5 and $6 million, depending on size and specifications.

 • New Luxury housing, two-story Chanel planned for Newbury Street [Boston.com]

• Chanel No. 6: Details On New Newbury Street Condos [Curbed]

Citybizlist.com recently featured Boston Realty Advisors (BRA) in an article about the realty company's announcement that the owners of the historic Brownstone at 86 Commonwealth Avenue have decided to use BRA to sell the property.

One really could not ask for a more beautiful building in downtown Boston.  86 Commonwealth is a four-story (including the basement) French, Academic style, brick brownstone with tandem parking for six cars. Designed and constructed by acclaimed architect T.P. Briggs in 1877, this building is rich with historic detailing that is difficult to find and gives residents and visitors a feeling of deep, historic luxury.  How often do you come across hand carved marble mantels, wainscoting, mahogany staircases, and ornamental crown molding all in one home? You'll find all of that and even more ornate touches at 86 Commonwealth.  

According to Jason Weissman, BRA Principal and Founder, "86 Commonwealth has so many potential uses, it could be an incredible condominium conversion, or potentially a single family."  Boston Realty Advisors is currently offering tours of the property by appointment to qualified buyers.  If you would like to schedule an appointment, contact Boston Realty Advisors.

View the original article on citybizlist.com

Why do they call these the dog days of summer I wonder? Could it have anything to do with consuming hot dogs perhaps? 

I read somewhere or maybe heard it on a radio talk show Howie Carr or NPR or somewhere that in 2009, consumers spent more than $1.6 billion that's BILLION with a B on hot dogs and sausages in U.S. supermarkets. Gosh if you think about it that's alot of dogs! Or could it be they call it dog days of summer simply because someone once noticed a correlation between a hot day and their lazy dog just laying around in the shade doing nothing.  Just resting.  Could it be that simple I wonder? Interesting. 

Well it seems we sure are experiencing some pretty serious dog days so far this month!  100-105 degrees oh my! And I'll tell you it affects me. Not just the way the heat makes me feel slow but it affects work. While I can lay in the shade and rest any time I want in the type of work I do...that would be real estate sales.... unfortunately I can't do it for long.  As a REALTOR I'm pretty much self employed and often host open houses on Sunday's to meet prospective buyers (a small part of the marketing I do to reach out to prospective clients).  In the Real Estate world Sundays it seems is the traditional day to host open houses.  It sounds logical because most work from Monday to Friday however is it really practical? Does it make sense to host open houses on a weekend in the summer time? The dog days of summer time.

Hosting open houses hasn't been so much fun these past few weeks.  I assume if you're a sales agent or know one (and most of us know someone who is one) you know what I mean.  I really don't mind giving up a hot day at the beach or laying by my brother's pool to stand instead in a beautiful air conditioned home for a few hours.  Especially these days it's more important to me that I build my business and a future retirement.  God knows I've done enough bathing, lounging and BBQing to last a life time. As I said it's not so bad hosting an open house during these hot dog days. So I do it for myself and for others I work with at my company.  I stand there in the comfort of an air conditioned unit with iced coffee in one hand and listing sheet in the other.  Then someone enters!!!  And I've got to say how exciting it is when that sweaty, drained and tired home seeker happens to finally come through my door! Can you imagine how excited I am?.!?# I smile at them and offer a hand shake.  Some catch their breath while kindly shewing me away with a grin not interested in talking with me and others engage in a little kabitzing then off they go.  These days it seems there are fewer and fewer visitors.  Maybe I should consider offering lemonade or something thirst quenching...hmmm...

Seems many a Sunday has passed with only a few to none pay me a visit at my air conditioned listing.  Other than offering an iced beverage we're doing all the right things. Advertising. Marketing. Could they all be enjoying themselves at the beach on these dog days of summer? Or perhaps basking in the shade under a tree drinking their ice tea?  Yeah I'll bet they are hanging out being handed a beer and a grilled dog somewhere fun. 

Well we all work hard and deserve to enjoy dog days off especially on the weekend when all of our freinds are doing the same thing.  Enjoying themselves that is..  And who really wants to walk around 105 degree Boston touring open houses sweating bullets all over the place when they could be sprawled out with their face planted in a blanket on Carson Beach in Southie or sailing the Boston Harbor with friends or throwing a fishing line out to hook one of the many thousands of yummy striped bass swimming our waters right now!!

But isn't touring open houses important to some of you who recognize property values and interest rates are at the lowest they have ever been in a LONG time?  Touring open houses gives buyers AND sellers a better perspective of what a certain square footage can buy them in a particular neighborhood of interest.  It's an opportunity to investigate, talk to the agent and learn details they wouldn't if they just read about the unit.

So how about attending an open house on a weekday?  Perhaps after work when the sun is going down and it's more convenient for you?  Attending an open house on a week night for example promises not to interrupt your dog day summer afternoons especially the weekends!  And if you happen to spot a home that isn't open on a week night BUT wish to see it you can always call a qualified experienced AND helpful person like myself to set up a showing for you!  Happy Dog Days of Summer!

Vivian Zottola # 617-721-8025  617-721-8025 vzottola@bradvisors.com 

Boston Realty Advisors www.bradvisors.com

The American Brewery Lofts, located in Jamaica Plain, are auctioning off 21 loft-style units on June 26th. Prices have been dramatically reduced -up to 57% off of pricing. Units range from $195,000 to $295,000 and financing with downpayments of as little as 3.5% is available!

The American Brewery Lofts has reached out to the Boston Lofts Team in an effort to further promote this auction and welcomes all of our clients to be involved in this opportunity. As exciting and advantageous as the prospect of purchasing a unit such as these at auction is, there are many different facets to this procedure - including financing, inspections, bidding and documentation - that are very different from a standard purchase. The Boston Lofts Team will guide you through this process - it is imperative that you are represented by the most qualified loft buyer agents in Boston!

Email us at paul@bostonlofts.com or call 617-694-0004 for more information and a personal tour.

The Boston Metro had asked me to comment on the latest activity in the Back Bay, based on the notion that it has been "hot". Well, it has. According to MLS, in the first quarter of 2009, there were 38 condo sales in the Back Bay. As of today (with 2 weeks left of sales to go in the first quarter), there are 73 condo sales (the article states 69 condo sales, because the data was gathered a few days ago). Of that 73, 17 sales have been at The Clarendon, Boston's first luxury high-rise condo building. This is a huge factor because last year, the luxury market was sluggish. I believe it is not directly due to better "deals" in luxury land, however, buyers have a better grip on how they view real estate as an investment and what they are willing to spend for a home. Looks to me like consumers are saying that Back Bay is considered a wise investment. Here's the article:



Boston real estate brokers are saying the Back Bay market is “on fire,” with 69 sales since January with an average price of $1.4 million. “Many buyers feel the recession is ancient history,” says John Ford, owner of Ford Realty on Charles and Tremont streets. “Last year at this time, peoples’ investment portfolios were losing money. They’ve gained the losses from 2009. Now they are using their recouped losses, and have more confidence in purchasing luxury condos.”

During the same time period last year, only 29 units sold in the Back Bay area with an average sale price of $1.3 million. The high-end market in Back Bay was also driven up by two luxury properties that just received occupancy permits — the W Residences and The Clarendon, both on Stuart Street.

Many of these condos were put under agreement in ’08 and ’09, but closings on about 28 units occurred this quarter.

There are currently 42 properties under agreement in Back Bay with 26 valued at $800,000 or more, and 21 at $1 million or more, according to Multiple Listings Service.

“Activity in the entire Boston market has really picked up and the momentum in Back Bay is excellent right now,” says Paul Santucci, a broker with Boston Realty Advisors. “Although there are hotter neighborhoods in Boston at the moment, the Back Bay still embodies the characteristic of luxury and perfect Boston location, continuing to attract buyers.”

For more information on Back Bay home sales and data, contact me at: 617-694-0004 or PSantucci@bradvisors.com

Here is a real estate conundrum:  I don't know if you've received one yet but I just got a shocking "Revaluation Assessment Notice" from the City of Boston Assessing Department which informs me that the Assessed Value of my property has decreased by approximately $100,000!

The notice explains that, due to a downturn in the real estate market, the city has reevaluated property values to reflect a decrease in the real estate market.  The notice states that the city reached its numbers by looking at sales of properties "comparable in location, style, age, size and condition."  Ironically, the notice also states that to offset the tax losses that the city will realize as a result of decrease in property values, the city is increasing real estate taxes to the maximum 2.5% allowed by law (meaning that some of us will actually pay more taxes on a less valuable property).
 
The notice goes on to explain that the Assessing Department is available to review one’s FY 2010 Preliminary Assessment during this Public Disclosure period (Monday, November 16 through Wednesday, November 25). But given that the notices were only recently issued and the review period covers a mere 8 days, with tomorrow being the last day for a review session, it seems like less than adequate conciliation.

So I ask you, how does the city arrive at these assessments? If it were based purely on the properties’ market value the table below, with data collected on a typical brownstone in the South End, illustrates that this is far from the case. And further more do you feel when the property assessment value is dramatically reduced, as we are seeing with 20-25% decreases, that this will effect the resale value of your property?

Send me your comments and any similar experiences you have had with the Enigmatic Assessing Department!

Figures sourced from City of Boston Assessing Deptartment and Link Boston, Listing Information Network, for a South End Brownstone on Chandler Street.

Wondering where the motivated sellers are in the Boston condo market?

Check the luxury high-rises and you’ll see slow sales giving developers and owners a wake-up call. According the Listing Information Network (LINK), the first 10 months of 2009 saw 206 condos sales above $1 million in Boston. That same time period in ’08 saw 408 sales.
 
Boston has also recently been introduced to three new luxury high-rise condo buildings – The W Hotel, 45 Province, and the Clarendon. All of these offer white-gloved service and immensely luxurious living, however, the sales at all three buildings are slow. The total available units for all three buildings give the buyers hunting in this market about 350 to choose from. Most of the action for units in this price range was seen at the recent auction at Bryant on Columbus, where 3 bed condos were sold at dramatically lower prices – as much as 41% off the listing price.
 
Where does that leave the buyer looking for luxury condos in Boston? In a position to choose from a fantastic array of options.

Interested in touring the luxury condominiums in Boston? – contact Paul Santucci.

Fantastic unit at even better address!

This unit is offered by Rob Cohen for $349,900. The unit includes 550 square feet of well appointed living space. the building was built in Boston's Back Bay in 1880 and is located in the heart of downtown, closte to the T, and steps to shopping and great entertainment.

For more information please click here: back bay condo

To schedule a showing, please contact Rob Cohen.

Boston Realty Advisors provides residentil and commercial real estate services in Boston and New York. This exclusive listing is a fine example of our residential sales practice here in Boston. Work with the Boston Real Estate market's leading team, call us today.