Archive for the 'Back Bay Condos' category
Market Shows Increase in Boston Condo Sales
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!
A Welcome Winter Party...
A Welcome Winter Party That Reminded Us That, Despite The Recession And The Terrible Weather, We Live In A World-Class City With Fabulous Cultural Institutions.
In the middle of the bleak month of February, many Boston real estate professionals were invited to an event at the Boston Public Library sponsored by First Republic Bank. This party was held in the old reading room in the original part of the BPL. There were lit candles, a live classical string quartet, four different food stations preparing delicious foods such as mushroom risotto and Asian noodles, open bar and even private tours of the library!
There were no speeches or product promotions. A bank representative simply thanked everyone for coming and stated that the event was simply a “Thank you” to those people who have worked with the bank. How refreshing! It was an uplifting time for all and we appreciate the positive reminder that Boston is a special city that will withstand the changes in the economy as easily as it has withstood the changes of many seasons. Thank you First Republic!
For your information, we at Cabot & Company particularly enjoy working with Rich Kertzman at First Republic (t: 617-478-5126 ...email: rkertzman@firstrepublic.com).
-Joseph Palermino
The Super Bowl of Boston Real Estate!
It'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 storylines. 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)
Two Boston Real Estate Closings like a Double Magnum of Dom Perignon!
Well we had a fine double closing at Cabot & Company last week…an exquisite double wide granite mansion on Commonwealth Avenue in the prime of Back Bay that can best be described as a Dom Perignon in a neighborhood with many fine champagnes!
We had two luxury condominiums close on the same day after one year of marketing. Shelagh Brennan, our listing broker, says that the serious sales activity increased as the homes neared completion. It is always easier to market a finished product, especially one that is as exceptional as The Clark Weld House at 304 Commonwealth Avenue. Please read the next issue of The Pulse Boston Real Estate Blog to enjoy a full article on this special property.
Happy Thanksgiving to all!
