CL Properties represented both the Buyer and Seller, bringing this Listing to Close at $1,559/sq.ft!
Tuesday, October 30th, Trinity Stuart LLC, a joint venture that includes principals of the Saunders Hotel Group, proposed a $225 Million project that would bring a 33-story hotel and residential high rise to Boston’s Back Bay. 40 Trinity Place, the proposed project, would be a 400-foot tower featuring 220 hotel rooms, 142 luxury condominiums, 100 parking spaces, two restaurants, and conference facilities. The Architectural Team of Chelsea was hired to design the exterior of the building while Stonehill & Taylor Architects will focus on the interior. The 400-foot tower is planned for the site of the former John Hancock Hotel and Conference Center on Stuart Street. The developers plan to demolish the current eight-story building
The proposed development has support from Mayor Thomas Menino. When asked about the development, Menino said: “[the tower] will be a wonderful addition…it will bring even more visitors from all over the world”. Some local residents have already voiced their concerns over potential shadows, changes in the wind, and traffic. The project will require relief in zoning regulations pertaining to height and density on the proposed site.. The growth of this project is one to monitor in the coming months. For more information contact CL Waterfront Properties.
Home sales rose nationwide in December, marking the third consecutive month of increased sales activity. According to the Boston Globe, Massachusetts experienced 10,000 home sales in the fourth quarter. This is a slight jump from the 9,461 homes sold in 2010’s fourth quarter. 2011’s strong finish has investors feeling positive about the future of Boston’s real estate market. With interest rates still low, and motivated buyers and sellers, now is a great time to purchase or sell a home. As the Waterfront’s top selling office, CL Waterfront Properties is best-positioned to help with your sale. Contact CL Waterfront Properties today for more information on Boston’s real estate market.
Carmela Laurella once again ends the year strong by making the largest home sale in Boston for the month of December. The 2,508 sq.ft. residence at The Clarendon has gorgeous Charles River and City views, 3+ bed/4.5 bath, and sold for $4,100,000 with an average price per square foot of $1,634/sq.ft.
Designed by world renowned architect Robert A.M. Stern, The Clarendon is a 33 story brick, glass & steel tower that was completed in 2009. The building features concierge, valet garage parking, expansive common roof deck, Equinox Gym & Post 390 Restaurant. Centrally located in the heart of Boston, The Clarendon is steps to shopping on Newbury Street, Boston Common & some of the finest restaurants in the South End.
For more information on the Boston real estate market, contact CL Waterfront Properties today!
The City of Boston has raised property taxes by 2% for fiscal year 2012 — which is the maximum allowable increase under Proposition 2 1/2. The 2012 tax rate rose to $13.04 per thousand valued, which is a $.25 increase from 2011. Boston Commercial Property taxes also rose 3% to $31.92 per thousand valued.
With nearly 70% of Boston’s budget funded by property taxes, the 2012 tax increase will bring the city $75 million of additional revenue. Property taxes can be raised annually by either an increase in the tax rate or increase in the assessed value. Residential tax rates have increased over the past 3 years while assessed values (for the most part) have remained the same.
Posted By: Dave Costello
A well-known Chinese newspaper, World Journal, recently reported about the Massachusetts housing market. As the newspaper stated, “…whether million dollar homes or renovation of housing investment, more than one-third of all transactions were cash.” The luxury Boston real estate market has been kept in good stead largely by these prominent cash transactions.
The paper also reported on CL Waterfront Properties, LLC’s sale of the Ritz Carlton Boston condo which belonged to former Red Sox superstar Manny Ramirez. This sale by Carmela Laurella was $5.550 million, the most expensive condo sold at The Ritz-Carlton in 3 years, and the 3rd most expensive condo sold in Boston this year. This highly sought-after penthouse closed for over $1,250 per square foot.
By Howard Chang
Posted by: Carmela Laurella
Dave Costello is named Senior Vice President of CL Waterfront Properties LLC.
With more than 9 years of real estate experience, Dave has worked to meet the needs of buyers, investors, and property sellers throughout the Boston area. Dave’s market knowledge and commitment to providing clients with top level service has helped him to build a strong referral network in the Boston Waterfront, Back Bay, Beacon Hill & Metro West.
In the past 3 years, Dave has sold more than $50 million in property sales and has been involved in 75+ transactions. In only the first few weeks of January, Dave has sold or put under agreement nearly $6 million. Dave has over $10 million in active listings.
CL Waterfront Properties is scheduled to close Mandarin Oriental unit W 10C in January, marking the only sale in the Mandarin in the past 9 months and the 1st sale of 2011. In 2010, 4 condos sold at the Mandarin with an average sale price of $5.287M ($1,516 per sq/ft).
Listed for $3.8M ($1,486 per sq/ft), this custom-built, corner home has 3 bedrooms, 2.5 baths and over 2,500 sq/ft of living space. This luxurious residence features floor-to-ceiling windows, ash floors, custom audio, lighting and window treatments. The designer kitchen has Poggenpohl cabinetry, chef’s stove, imported granite and matching island. The private master suite has marble bath with window and southern exposure, dressing area and custom closets. The condo has 2 deeded parking spaces and storage.
Owners at the Mandarin have full access to 5 star hotel services, concierge, doorman and valet parking.
Browse available Boston luxury condos for sale or rent here. You can also browse our Waterfront luxury properties, or our other Back Bay luxury properties on our website.
If you need assistance buying or selling premier Boston property, please contact CL Waterfront Properties to speak to one of our knowledgeable agents.
Fastest Growing Real Estate company and most listings on the Waterfront in the last 3 months.
With $45 Million in listings since January 1st, CL WATERFRONT PROPERTIES LLC is the fasting growing real estate company on Boston’s Waterfront.
Our beautiful new offices with over 10 windows facing Atlantic Avenue has helped “jump start” our thriving business.
Call us today at (617) 624-9700!