Archive for the ‘South End Apartments’ Category

Commercial Update – Boston Retail Market Report: Q3 2011

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.

 

Boston Rents Hit Record High

Thursday, July 28th, 2011
Rent rates are rising in Boston. Now might be the time to buy.

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.

 

Back Bay, South End & Fenway Condominiums FOR SALE!

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!

 

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!

Boston Spring Rental Market! Cabot Rentals Sends You a Daily Dose of Apartments

Tuesday, March 22nd, 2011

boston apartments for rentSpring is here at Cabot and Company Real Estate on Newbury Street, Back Bay! Monday, March 21st is the official beginning of Spring, but here at Cabot Rentals we have been busy for the last few wintry months working on upgrades to our website.

We are excited to announce a new and improved  website and an excellent Boston rentals feature that allows us to send all of our Back Bay Apartments, South End and Fenway, etc. apartment searchers the very latest updated listings on a daily basis!

For many years, Boston condos and Boston commercial real estate shoppers have had the convenience of perusing available listings on our website via listing information services like LINK and MLS.  Now apartment shoppers can receive daily updates as new listings come rolling in this busy season.

Pictured below are two beautiful featured listings. The top image is a living room shot pulled from one of our Boston Fenway apartment listings. Below that one of our spacious Back Bay apartments that has gorgeous light.

Simply contact a Cabot and Company rental agent today at 617-262-6200 to sign up to receive daily listing updates, to schedule a showing for one of these featured apartments!

Boston luxury apartments

boston luxury apartments

Allan Rohan Crite Open House

Tuesday, June 15th, 2010

Allan Rohan Crite House Condominium
Ribbon Cutting by Mayor Menino

OPEN HOUSE SUNDAY JUNE 20th 2:00-4:00 PM
410 COLUMBUS AVENUE    SOUTH END

On June 20th from 2:00 – 4:00 p.m., Cabot & Company will be hosting an OPEN HOUSE
and special exhibition of Allan Rohan Crite’s artwork, sponsored by Citibank (South End Financial Center: 1365 Washington Street Boston, MA 02118)

The late artist lived for over 90 years in the South End of Boston. He spent 40 illustrious years in the brownstone at 410 Columbus Avenue. This home is exemplary of South end condos, as it has been completely restored to its original Victorian splendor. It now consists of 3 luxury condominiums with 2011 amenities including Chef’s kitchens with islands, granite and marble baths, designer lighting, Cat 6 wiring, surround sound and I-POD docks, eco-friendly cabinetry and Porcelanosa tile, soaking tubs, Elfa closet systems,and decks and terraces overlooking Carleton Park – a luscious urban oasis.

The developer, Webb Place Development, Cabot & Company, and the Allan Rohan Crite Research Institute will be offering refreshments, music, and beverages and invite our guests to preview the fabulous Boston luxury real estate residences.The building has great local and historical significance as the Rainbow Coalition was formed in the storefront. The street level also served as a meeting place for the Black Panthers, and a salon for artists, neighbors, philosophers, art enthusiasts and friends. Enjoy ART AND THE NEIGHBORHOOD!


Allan Rohan Crite
1910-2007

Master Visual Artist, Painter, Printmaker, Author, Lecturer, Historian & Good Neighbor

“As a Visual Artist, I am in the communication business….I am a part of that tradition, a storyteller of my part of the story of man..that collective memory we call ‘history’. It is the memory of the past which shapes the present and gives guidance to the future. I am a storyteller of my view of the African American experience: in a local sense the neighborhood; and in a larger sense, a part of the total human experience.”

Shelagh Brennan

617-896-5002

Unda Standing The Bawstin Neighborhoods

Tuesday, March 30th, 2010

Moving to Boston?

Welcome! Apartment hunting can be stressful especially when you’re not familiar with city or neighborhoods.  Newcomers to Boston might realize they need a little help communicating with the indigenous folk. So to help you find an apartment as quickly as possible while still understanding the language of the locals, here are a few tips to make your rental process in your new hometown of Boston a little easier:

Select a Neighborhood.
Finding a neighborhood & community you love is important.

Back Bay: With its classic, elegant brownstones Back Bay competes with Beacon Hill for the title of most prestigious Boston address. This is definitely a place to consider if you want to be in the center of it all. Take a stroll down the Commonwealth Avenue mall to the Public Gahden. Shop at Copley Square,Prudential Center malls  or Newbury St.

Commute & Pahking: Back Bay is pretty much in the center of things. You can easily walk to downtown. There are plenty of green lines, Amtrack at Back Bay Station, entrance to the Mass Turnpike, or access to Storrow. If you’re bringing your cah, you might want to consider renting a parking space…expect $200-$400/month.

Beacon Hill: One of Boston’s smallest neighborhoods and most prestigious. Stately brownstones on narrow cobblestone streets are illuminated by gaslight lamps. Shopping along Charles St you’ll find intimate restaurants and a variety of unique decorating and antique shops.

Commute & Pahking: Like Back Bay, living in Beacon Hill allows you to easily walk to work downtown. Also a plus, it’s convenient to many schools, such as Suffolk and Emerson, and convenient to Mass General Hospital. Easy access to red and green T lines too! Finding cah pahking can be a bit taxing, however.

The North End: The streets are narrow and lined with apartment buildings. It feels a lot like a small town in Italy. Find plenty of local Italian restaurants…stop in and odda the veal pahm! Sip espresso or grab a cuppa cawfee from one of the many delicious pastry shops. Famous for Hanover St and The Old North Church, this charming neighborhood brings a different saint’s festival almost every weekend in the summah-time. Great Waterfront pahks as well!!

Commute & Pahking: If you in the Financial District, you can walk to work. Subway access is via the Haymarket stop on the orange & green lines. Good option for Suffolk, Tufts, or Emerson students. If you have to bring your cah….good luck, miracles can sometimes happen.

The South End: Think of a livelier, more multicultural Back Bay.The South End is full of Victorian-era brick row houses or brownstones on tree-lined streets. Aht galleries, such as the Boston Center for the Arts, sponsor a variety of cultural programs, from theater to art exhibits. Trendy restaurants are lined up along Tremont Street and Columbus Avenue. Bonuses include outdoor space (often patios, decks, roof decks) and a dog park at Peters Park.

Commute & Pahking: The neighborhood has the orange line subway, Amtrack at Back Bay Station and Back Bay entrance to Mass Turnpike. Not as challenging as North End or Beacon Hill for pahking the cah, as long as you get a resident sticker.

The Fenway : If living near one of the last original remaining ballparks isn’t enough for you, the Fenway neighborhoods is ultra convenient for students attending Berklee, Northeastern, Simmons, or Boston University, to name a few. A less expensive neighborhood, it can serve as a relief to students with roommates who are looking to save on cash by taking advantage of one bedroom and two bedroom splits.
Commute & Pahking: Not too bad, unless the Red Sox are playing. Easy access to green line T, Cambridge, Massachusetts Avenue, and most importantly (you knew I’d say it) The Green Monstah.

There are many incredible neighborhoods I haven’t even mentioned (Bay Village, Charlestown, Cambridge, Financial District, Seaport District, South Boston, Waterfront, just to name a few) but hopefully these little insights will help you to find the “Bawstin” apartment and home of your dreams.

The South End -15 Minutes on Two Blocks of Shawmut Avenue

Thursday, February 18th, 2010

South End Neighborhood Hot SpotsI finally managed to get into Coppa (www.coppaboston.com) for dinner last Thursday night, on my third try.  Ken Orringer’s newest restaurant serves tapas style, locally sourced, Italian food.  They do not accept reservations, and they reach capacity at 30 diners, so landing a table in this hot spot is no small feat.  Previous attempts to dine there resulted in 2.5-3 hour wait times – no thanks.  This time, I arrived with my dining companion at 5:10.  They open daily for dinner at 5:30, and begin taking names at 5:25PM.

With 15 minutes to kill, I strolled down Shawmut Avenue, past some really great little sole proprietorships, like the Polka Dog Bakery (www.polkadog.com) which was selling homemade Valentine’s treats for the local pet population.  Next door, I came upon South End Formaggio (www.southendformaggio.com) singled out by Oprah Winfrey as one of the best gourmet grocers in the country.  You can pick up artisinal cheese and chocolates, French wine and Champagne, and anything else you need to whip up a Barefoot Contessa worthy feast to impress and indulge your guests.  There’s also the Syrian Grocery, an institution for 75 years selling exotic spices, dried fruits, and South End lore.

With 5 more minutes to kill, I stopped into my friend Jill Goldberg’s fine home furnishings shop called HUDSON (www.hudsonboston.com).  Situated right next to the best cupcake bakery in town, The Buttery (www.southendbuttery.com), HUDSON has claimed numerous of my paychecks over the last three years as I’ve furnished and accessorized many rooms of my home with her well edited collection.

Rushing back down Shawmut to claim my spot at Coppa, I was reminded of the importance of small independent businesses to the vitality of a community.  I passed a jeweler’s shop, dry cleaners, kitchen design studio, and two or three more small and wonderful restaurants.  What distinguishes Boston and its neighborhoods from other cities (besides the beautiful architecture) is the careful non-proliferation of chain stores, strip malls, and neon-lit fast food restaurants.  Here in the South End, the shops are often staffed by their owners.  These owners all live and shop in the same community.  They care deeply about the health and well-being of the neighborhood.  Perhaps that is why the South End weathered the national downturn in the housing market, and emerged stronger, more vital, and in demand by buyers and renters.

Coppa was delicious.  I was given a prime seat in the front window to watch the parade of South End residents coming to and fro.  If you go, try the hand made pasta dishes, hangar steak a-la-plancha, faro salad, arancini stuffed with fontina, and the pizza margherita.  You are likely to see Ken Orringer himself manning the grill, pouring drinks and chatting up diners.  Say hi, and think how great it would be to find your own spot to call home in the South End.

The Super Bowl of Boston Real Estate!

Thursday, February 4th, 2010

Boston Real Estate Super BowlIt’s early February, and anyone with a pulse knows that it’s time for the Super Bowl! As usual, the Super Bowl this year is full of all kinds of story lines. The heartwarming story of the New Orleans Saints reinvigorating a city once devastated by Hurricane Katrina. The half human, half machine Peyton Manning making his case for the greatest player in NFL history. The stories are endless.

At Cabot and Company, we have the occasional debate on football, but most of our conversation revolves around what great deals we have in the office. Having said that (any Curb Your Enthusiasm fans here?), what better way to explain how incredible our Boston apartment rental deals are than in NFL football terms?

Lets go straight to the action:

THE HEARTBREAKER: I grew up in St. Louis and naturally became a Rams fan. We had a great run for a few years and even got a Super Bowl ring in ’99, but the loss to the Patriots in Super Bowl XXXVI crushed me. Not only were we favored, we were favored BIG. I’ve never forgotten about that game and hold a grudge against the Patriots to this day. We have these buildings on Beacon St. that always seem to break the hearts of clients who rush to fill out an application on an apartment only to find out it has been rented. This has happened all too often. Well, we have one of those studios available right now! Don’t get your heartbroken like me…search our rentals now!

THE KREM DE LA KREM: I am by no means a Colts fan nor am I really a Peyton Manning fan, and I know how much you New Englanders are going to disagree/hate me for this but Peyton will end up being the best quarterback and perhaps best player in the history of the NFL. He has completely revolutionized the quarterback position almost to the point where his offensive coordinator can take a nap during the game. He is that good at reading defenses and calling audibles accordingly. If Peyton Manning was 2 bedroom/2 bathroom apartment in Boston, he would be this unreal apartment we have on Newbury at the Prince building. At $3600, this place boasts of incredible sunlight with floor to ceiling windows, tons of space, in unit laundry not to mention the amenities of a concierge and gorgeous roof deck that the Prince building offers! This, folks, is the Peyton Manning of apartment rentals in Boston.

YOUR REHAB PROJECT SURE NOT TO DISAPPOINT: The St. Louis Rams win/loss record over the last three seasons is 6-42 yet I am still a Rams fan. In fact, as cruel joke, one of my friends bought me a Rams jersey for my birthday with the number 1 on it and where the last name of the player usually is, he had “I Believe” printed on the jersey. What a wiseguy. Anyways, I still wear the jersey with a little bit of sarcasm and a little bit of hope. The Rams have to get better at some point, right? With a healthy amount of draft picks coming in next year’s NFL draft and a fresh batch of guys in the Rams front office who actually understand how to evaluate talent, the Rams are sure to rebound in the next couple of years. Behold an apartment on Beacon St. that has retooled and reloaded with the pizazz that it once possessed long ago. A stunning floor thru 1 bedroom on Beacon for $2100 with a brand new kitchen and bathroom, in unit laundry and great front to rear sunlight. The Rams can only hope to look as good as this apartment looks now.

I’ll end this blog segment with the my prediction for the big game: While Drew Brees leads an inspired Saints squad, Peyton Manning torches the Saints defense. Colts win 27-23. Manning becomes MVP of the Super Bowl dethroning Tom Brady as the best QB in football. Sorry Pats fans. It’s true.

That just about does it for your lesson in how NFL football relates to Boston real estate (first lesson ever taught on the subject?). Snatch one of these apartments up and sit back, relax and enjoy the game.

(Photo credit: http://www.orlandowelcomecenter.com/images/dolphins-stadium-photo.jpg)

Best Wine Shops in Boston by Neighborhood

Tuesday, July 28th, 2009

Before completely leaving the discussion of Boston real estate and wine, some people have asked me to recommend some wine shops in the various Boston neighborhoods that we have been blogging about.  Boston does have a plethora of good wine shops.  Furthermore, perhaps due to Boston’s cosmopolitan flair, the wine shop vendors are extremely knowledgeable and passionate about wine.

Boston Neighborhood Wine Shops

For the Back Bay, I would recommend seeing Howie Rubin at Bauer Wines on Newbury Street.  For the South End, I would recommend seeing Daniel Edwards at Brix Wine shop on Washington Street.  On Charles Street, on the flat of Beacon Hill, I recommend seeing Bob Bacco at DeLucas Market.  In the North End, I suggest speaking with owners, Jeff or Lisa, of V. Cirace & Sons on North Street.  In the Fenway, you can speak with Kevin, the Store Manager, at the Fenway Wine gallery in the Hotel Commonwealth on Commonwealth Avenue in Kenmore Square.

Lastly, for South Boston and the Waterfront, I recommend seeing Len Rothenberg at Federal Wine and Spirits located at 29 State Street.  This is my favorite shop in Boston and Len is an encyclopedia of wine knowledge.  This is also the favorite Boston wine shop of Dottie and John, the couple that writes those interesting wine articles in the Wall Street Journal.