Archive for the ‘Boston Real Estate Trends’ Category
Tuesday, January 17th, 2012
BOSTON MAGAZINE JANUARY 2012
Living Large
Rachel Slade’s off-kilter take on Hub dwellings.
By Rachel Slade
Pahk the Cah – For $350K
Life just keeps getting tougher for Back Bay die-hards, as ex-suburbanites pour into the city with their pedigreed dogs and black BMW’s. So when circling the block for three hours after a hard day’s work loses its charm, it’s time to invest in some asphalt. But with only a handful of parking spots listed on the MLS, the Back Bay’s alleys are precious property, indeed. Case in point: Though a two-vehicle tandem space between Commonwealth Avenue and Newbury Street is exposed to all the elements – snow (BYO shovel), inebriated students – it costs about $1,000 a square foot, making it some of the priciest pavement in the world. Get a Zipcar account, you say?
That’s part of the problem–the car-sharing powerhouse has already gobbled up 107 spots around the neighborhood. Where’s teleportation when you need it?
Address: 132 Commonwealth Avenue, #5/6 Listing Price: $350,000, Listing Agent: Shelagh Brennan, Cabot and Company, 617-896-5002, cabotandcompany.com, Stats: One big, expensive slab of pavement in the Back Bay.
Tags: back bay parking, back bay parking real estate, back bay parking spots, boston parking, boston parking real estate, parking spots for sale
Posted in Back Bay, Boston Buyer Broker, Boston Investments Property, Boston Luxury Real Estate, Boston Neighborhoods, Boston Property, Boston Real Estate, Boston Real Estate Agent, Boston Real Estate Trends, Boston Realty, Cabot and Company News |
Wednesday, January 11th, 2012
January 2012
Happy New Year!
Congratulations, you have been hired! According to a recent article on Forbes.com, Boston tied for 13th of cities to be hiring this year. Overall, there is an 11% net hiring expectancy in the U.S.
What does this mean to you as a new hire and possible relocater to Boston? Consider that rental prices in Boston are already high and availability extremely low. This is before this job growth news!
5 Tips from Cabot and Company Real Estate
1. Find a reputable real estate agency. Our agents at Cabot and Company in Boston’s Back Bay are experienced professionals. Visit www.cabotandcompany.com or call 617-262-6200.
2. Begin your search as early as possible. As soon as you get the employment green light, preferably 60-90 days in advance, reach out and start your search.
3. Identify the key neighborhoods you will live in. Keep transportation and proximity to work in mind.
4. Make some transportation decisions. Boston has a great public transit system. The city has recently added many bicycle lanes. Boston is a walking city and there are many very accessible short term car rental options.
5. Organize paperwork and funds in advance of finding an apartment so you can act quickly when you see a good option. Once again, the seasoned agents at Cabot and Company real estate can assist you in your search.
Congratulations!
Tags: 2012 Boston Real Estate, 2012 Boston Relocating, 2012 real estate
Posted in Back Bay, Back Bay Apartments, Back Bay Condos, Beacon Hill, Beacon Hill Apartments, Beacon Hill Condos, Boston Apartments, Boston Buyer Agent, Boston Buyer Broker, Boston Condos, Boston Homes, Boston Luxury Condos, Boston Luxury Real Estate, Boston Neighborhoods, Boston Property, Boston Real Estate, Boston Real Estate Agent, Boston Real Estate Trends, Boston Realty |
Monday, December 12th, 2011
By Eric Shabshelowitz
Rent Rates for Boston Retail Space
Rental rates in the Boston retail market are slightly lower than last quarter (down 0.2%) and essentially flat from one year ago (down 0.07%). In the Back Bay, quoted retail rent rates for the third quarter averaged $60.87 per square foot; in the South End, $31.22 per square foot; and the Financial District, $35.00 per square foot.
Largest Lease Signings in Greater Boston
The largest lease signings of 2011 include a 60,000 square foot lease by Stop & Shop at Atlantic Plaza (Reading, MA), a 45,000 square foot lease by Whole Food Market in Lynnfield, MA, and most recently, a 43,998 square foot lease by Restoration Hardware in Boston’s Back Bay. Restoration Hardware will be moving into the former Louis Boston building.
Improvement in the Market
While rent rates are down, the Boston retail market showed improvement in the third quarter. The vacancy rate is down to 4.6% for the Boston market. In the Back Bay, which includes premier shopping destination Newbury Street, vacancy is down to 3.6%.
With the improvement of the market, now is a wise time to invest in retail properties. Single-tenant, triple-net leases, for instance, are becoming increasingly popular as investment opportunities; particularly with the recent ups-and-downs of the stock market.
Call Eric Shabshelowitz at 617-896-5010 or email him at eric@cabotandcompany.com to learn more about retail leasing and sales opportunities throughout the Greater Boston area.
Tags: Back Bay Real Estate, Boston Real Estate, Boston rental Rates, financial district real estate, Retail Renting rates in Boston, South End Real estate
Posted in Back Bay, Back Bay Apartments, Back Bay Condos, Boston Apartments, Boston Commercial Real Estate, Boston Investments Property, Boston Luxury Real Estate, Boston Neighborhoods, Boston Property, Boston Real Estate, Boston Real Estate Trends, Boston Realty, Cabot and Company News, South End, South End Apartments, South End Condos, South End Neighborhood |
Thursday, July 28th, 2011
The economy is tough these days. Maybe it’s time to start thinking about owning, instead of renting.
Despite the current state of the economy, Boston is experiencing record high rents. The Boston Globe recently reported that apartment vacancy in the Back Bay and Beacon Hill is down to 1.2 percent. According to that same report, the median price for rent in Boston hit $1,665 a month, and a two-bedroom apartment in the Back Bay is averaging $2,658 a month. From our perspective, those numbers even seem to be understated (we have not seen many two-bedroom apartments in that price range this year).
We are frequently asked why rents are so high and availability is so low. Based on our observations and the reports we’ve seen, there are a few main reasons. First, many would-be first-time homebuyers are not buying. They are continuing to rent due to concerns that home prices are still on the decline, there is uncertainty in the economy, etc. Second, though while not as prevalent in Boston as other areas, foreclosures have thrust former homeowners into renting. Finally, the population seems to be growing.
What does this all mean? Well, it’s a good time to be a landlord, for one. And if you’re not one now, it’s a great time to explore investment opportunities in residential property in Boston. It also means that it’s time to start thinking about owning, instead of renting.
If you are interested in discussing Boston real estate investment opportunities, call Eric Shabshelowitz at 617-896-5010 or email him at eric@cabotandcompany.com.
If you are currently renting but want to explore the possibility of buying, call Josh Medeiros at 617-896-5005 or email him at josh@cabotandcompany.com.
Tags: Boston High Rent, Boston Home Prices, Boston Homebuyers, Boston Real Estate market, Boston Rent Rates, Boston Residential Property
Posted in Back Bay, Back Bay Apartments, Back Bay Condos, Beacon Hill, Beacon Hill Apartments, Beacon Hill Condos, Boston Apartments, Boston Buyer Agent, Boston Buyer Broker, Boston Condos, Boston Homes, Boston Investments Property, Boston Luxury Condos, Boston Luxury Real Estate, Boston Neighborhoods, Boston Property, Boston Real Estate, Boston Real Estate Agent, Boston Real Estate Trends, Boston Realty, Fenway, Fenway Apartments, Fenway Condos, Financial District, Financial District Commercial Property, North End, North End Apartments, South End, South End Apartments, South End Condos, South End Neighborhood |
Thursday, July 7th, 2011
Back Bay Office Market Report
Commercial real estate in Boston’s Back Bay neighborhood remains highly sought after due to the area’s vibrant atmosphere and convenient location. With demand high for Class A office space, the vacancy rate is at 5.5% while the average asking rent is up to $46.51 psf, a 7.3% increase over the course of 2010. For Class B office space, however, vacancy rates are hovering around 18.9% with asking rates averaging $33.91 psf, a 10.1% decrease over the same time period.
Overall, the Back Bay commercial real estate market is continuing to make considerable headway on its path towards recovery. Experiencing its sixth consecutive quarter of occupancy growth, the area’s availability and vacancy rates for office space are at its lowest since 2008. Overall vacancy is now around 6.6%, which is six percentage points less than a year ago.
Financial District Office Market Report
As the amount of available Class A office space in the Back Bay declines, many firms will look to the Financial District as an alternative. In contrast to the Back Bay, the Financial District’s overall vacancy rate for office space has climbed to an average of 17.3%, the highest rate that it has seen in over 20 years. With 5.9 million square feet of vacancy, Class A and Class B vacancy rates are 19.1% and 24.6% respectively. In terms of average asking rents, rents in both classes are stabilizing with Class A currently at $47.29 psf and Class B at $31.44 psf.
Concluding Thoughts
The market for office space in the Back Bay is rebounding, particularly for high-end, Class A Space. It is necessary to note that while Class A rents increased in 2010, today’s rates are 37.4% lower than those in Q2 2008. It is a great opportunity for investors to buy and tenants to lock in low rents before the rent rates continue to rise. The Financial District, on the other hand, remains an area with opportunities for great deals and tenants looking to find space at a discount. Lock-in a low rent rate now before rates go up!
Call Eric Shabshelowitz at 617-896-5010 or email him at eric@cabotandcompany.com to learn more about office space available in both the Back Bay and the Financial District, as well as other areas of Boston.
http://www.cabotandcompany.com/commercial
Tags: Back Bay, Boston Commercial Real Estate, Boston Financial District, Boston Neighborhoods, Cabot and Company, Class A office space, Class B office space
Posted in Back Bay, Boston Commercial Real Estate, Boston Neighborhoods, Boston Property, Boston Real Estate, Boston Real Estate Trends, Financial District, Financial District Commercial Property |
Thursday, June 2nd, 2011
ATTENTION INVESTORS! CONDITIONS ARE PERFECT!
There couldn’t be a better time to take advantage of the low interest rates, reduced Boston condominium prices and high Boston Apartment demand!
ROI on is BETTER in Real Estate!
While current bank CD’s are only offering 1-2%, a return of 4-5% on a rented income property is very real! Keeping in mind the additional positives of potential property appreciation or tax benefits, this a a terrific opportunity to boost your income or portfolio!
Cabot and Company recommends the assistance of an experienced agent to help guide your purchase toward maximizing a profit. We can provide all the information and numbers to define your search using our database, LINK, MLS, and various other tools we have access to. There are currently excellent values in the Back Bay, South End, and Fenway areas. Our agents at Cabot can provide accurate rental prices and comparable sales reports.
We also have an in-house Property Management Department for your after-purchase needs.
Please call Cabot and Company today at 617-262-6200 for more information and assistance!
Tags: Back Bay, Back Bay Apartments, Back Bay Condos, Boston Condos, Boston Homes, Boston Real Estate, investment property, Real Estate Advice, South Boston, The Fenway
Posted in Back Bay, Back Bay Apartments, Back Bay Condos, Boston Condos, Boston Homes, Boston Investments Property, Boston Luxury Condos, Boston Luxury Real Estate, Boston Property, Boston Real Estate, Boston Real Estate Agent, Boston Real Estate Trends, Boston Realty, Fenway, Fenway Apartments, Fenway Condos, South End, South End Apartments, South End Condos |
Monday, March 21st, 2011
As with the rest of the country, the market for commercial space on Newbury Street experienced a little bit of a slow down over the past few years due to the recession. However, as reported by the Boston Globe, demand has been picking up and a number of new retail stores have opened or are opening soon.
Although a lot of the spaces that were vacant have now been filled, there are still numerous opportunities for retail and office space on Newbury Street. There is even a street-level commercial condo for sale that is ideal for either an owner-occupant or an investor. To discuss the various Boston commercial real estate opportunities that are available, contact one of our commercial brokers today!
Tags: Boston Commercial Real Estate Market, Boston Neighborhoods, Newbury Street, The Boston Globe
Posted in Boston Commercial Real Estate, Boston Neighborhoods, Boston Property, Boston Real Estate Trends |
Tuesday, November 23rd, 2010
Around this time last year, I wrote a blog asking this same question (to view it scroll back to about the seventh blog…fall of last year). Anyway, it is interesting to look back a year later with 20-20 hindsight vision and see what I saw then and to compare it to what happened and to what trends I see now.
Essentially, what I said a year ago still applies….the unemployment rate remains the key to the real estate recovery. The residential market is still stronger than the commercial market but both sectors have pockets that defy the national trends of lower prices. Back Bay condos, Beacon Hill, South End and other desirable Boston neighborhoods have held their own compared to the suburbs and Cape Cod, where prices and activity are down 20% and more…in some cases, way more. I think the recent election will prove to stanch the excessive government spending and eventually lead to more economic confidence resulting in an increase in employment in the private sector. Hopefully I am right about this.
Either way, Happy Thanksgiving everyone!
Joseph Palermino
Cabot & Company
Tel: (617)262-6200
Brokers@Cabotandcompany.com
Tags: Happy Thanksgiving, Real Estate Recovery, Unemployment Rate
Posted in Back Bay Condos, Beacon Hill, Beacon Hill Condos, Boston Commercial Real Estate, Boston Condos, Boston Homes, Boston Investments Property, Boston Luxury Condos, Boston Luxury Real Estate, Boston Neighborhoods, Boston Property, Boston Real Estate, Boston Real Estate Agent, Boston Real Estate Trends, Boston Realty, Cabot and Company News, South End Condos |
Tuesday, July 20th, 2010
A recent Boston Globe article reveals that Boston condo sales for the second quarter of 2010 have soared. The data, which is based off of comparisons with the second quarter in 2009, shows that sales from this quarter have increased by 30%. In addition, the average sale price decreased by 3.6% to $443,500.
Between the months of April and June, 849 condos were sold, compared to 653 condos during the same period in 2009.
Zeroing in on a more specific slice of the market, sales in luxury buildings increased 9%, and the median price rose to $665,000 (11.8% more than the second quarter in 2009).
The recent sales increase can most likely be attributed to low interest rates and continuing improvements in the economy. Prospective buyers have more confidence in the Boston real estate market, as this data represents the third consecutive quarter of sales growth in the downtown Boston neighborhood, which includes the Back Bay, Beacon Hill, South Boston, and the South End.
The rest of the article is here. Also be sure to view our great selection of Boston condos and luxury real estate!
Tags: Boston Globe, South Boston
Posted in Back Bay Condos, Beacon Hill Condos, Boston Condos, Boston Luxury Condos, Boston Luxury Real Estate, Boston Neighborhoods, Boston Real Estate, Boston Real Estate Trends, South End Condos |
Friday, May 28th, 2010
Welcome! Benvenuto! Bienvenue! Boa vinda! Recepcion! Willkommen! Добро пожаловать! 환영! 欢迎! 歓迎! أهلا وسهلا! Καλώς ήρθατε! Welkom!
In the last few weeks our office has witnessed a substantial increase in Boston real estate investment inquiries from international buyers. The majority have been from Europe, probably due to the Greek bailout and the fall of the euro. Despite the many economic problems in the United States, and I for one am very unhappy with the unbridled spending and borrowing of our federal government, the United States of America is still viewed as a safe refuge, particularly in times of uncertainty.
Real estate is tangible and Boston has a fabulous international image. Combined with the hyperinflation of many other international real estate markets, Boston property appears to be a bargain with prices generally under $1,000 per square foot. A client from China recently told me that Hong Kong prices are now around $4,000 per square foot. London and Moscow are even higher! So, to all of you wonderful visitors from abroad: Welcome, welcome, welcome to Boston!
Tags: International Buyers
Posted in Boston Homes, Boston Investments Property, Boston Property, Boston Real Estate, Boston Real Estate Trends |
Pahk the Cah – For $350K
