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.
When you want the most luxurious place to live in Boston, look no farther than the waterfront area. The charming properties lining the waterfront on all sides of downtown Boston bring you the best in luxury living, top location, and a great view of the Boston harbor lit up every night. Look in a few areas to find the right property to purchase in Boston so you can enjoy the best the city has to offer in dining, neighborhood attractions and modern living.
Back Bay luxury apartments and homes are situated in a great location, just off the Charles River and near plenty of Boston attractions. Living in Back Bay, you will be just a few minutes’ walk away from historic Copley Square, which is home to Old Trinity Church, the Boston Public Library and the John Hancock Tower, which is the tallest skyscraper in New England.
If you would like to be within a stone’s throw of the Massachusetts State House, check out Beacon Hill real estate. The area is the most desirable in Boston, with a great view and plenty of shopping and entertainment. The federal-style rowhouses will charm you with their old-world character and high-end renovations.
For the best waterfront views, North End is the place to be. This neighborhood, situated just north of downtown, features the historic Paul Revere House and the Old North Church, but has all sorts of modern amenities as well. North End condos are in easy walking distance of over 100 restaurants and have a great view of several wharfs along the Boston waterfront.
Just south of North End, you will find Rowes Wharf, a strip of luxury residences, restaurants and hotels on the water just east of downtown Boston. Living here, you will have great waterfront views and access to the best that Boston has to offer, including a floating stage with concerts during the summer.
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!
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
According to a Boston Globe article* published this morning, area developers are going before city officials this evening to seek approval to build several new residential towers. The creation of these new structures would add more than 1,400 units to the city. Low interest and vacancy rates, coupled with the high lease prices brought about current market conditions, have created an outstanding opportunity for developers to capitalize on large potential profits. Luxury Boston real estate is no longer limited to brownstones and waterfront condos – rental units in luxury developments across town are a hot ticket in today’s economic climate. Developers are eager to take advantage of this opportunity to build throughout the city, and to bring in higher profits than have been possible over the past several years.
The five proposed projects include a 404-unit apartment tower on Stuart Street; 318 back bay luxury apartments in a high-rise at Copley Place; 240 units along the Greenway in rapidly up and coming Chinatown; a 236-unit tower in the Seaport district; and 210 units in prime space on Boylston Street in the Fenway.
Mayor Thomas Menino commented that he and other city officials now receive proposals for residential development projects nearly every day, something he said has not seen for several years. According to George Fantini, chairman of mortgage banking firm Fantini & Gorga, “There has never been a better time in the last 40 years to develop a multifamily project in Boston.”
For more information about luxury Boston real estate developments, please contact Scott Accorsini or CL Waterfront Properties for more information. Our team of Boston real estate experts will be happy to help.
*Source: “Building Spree” by Casey Ross, Boston Globe 11/17/2011
Represented by Carmela Laurella & Dave Costello, the Manny Ramirez family’s ultimate 4 bed, 5.5 bath penthouse on Boston Common is closing today and represents the 3rd most expensive condo sale in Boston this year.This 37th floor residence overlooks the Public Garden, Charles River, Back Bay and beyond. Oversized living room with marble floors, gas fireplace and floor-to-ceiling windows with city & park views. Formal dining room with custom built-ins & lighting and direct views down the Back Bay. Open kitchen with breakfast area leads to one of Boston’s highest private decks with over 500 sq/ft and views of Beacon Hill, Back Bay, South End & Harbor. 1,100+ sq/ft master suite with 2 bathrooms and 7 custom closets. Large guest bedroom with marble baths en-suite, custom closets and stunning views. Doorman, Valet, Concierge and world class hotel services provided by the Ritz Carlton.
Boston’s Downtown Condo Market is booming this year. The overall median price for Boston rose by 10.2 percent to $487,000 this year, while luxury building prices rose 13.1 percent to a median of $735,000. Both of these metrics are only about $15,000 shy of 2008 peak prices just before the financial crisis frightened buyers.
Although these numbers seem good, citywide home sales in Boston have declined by 10% since last year. The increase in both medians is likely due to the 26.8 percent increase in high-priced luxury condominium sales, most of which are in the downtown Boston area. Another major factor allowing prices to increase while sales decrease is that there is simply less supply, giving sellers more power in the market. Debra Taylor Blair, president of the Listing Information Network, a Boston company that tracks the city’s downtown condo market, presented the idea that “Sellers can rent their properties out and more than cover their mortgage.” This at least partially explains home-owners’ reluctance to sell, and points to positive trends in market confidence despite the sales decrease.
John Ranco, a broker with the South End’s Hammond Residential Real Estate, also pointed out that much of last year’s sales were driven by federal home buyer tax credit. These incentives mainly affect first-time home buyers, and therefore lower-priced sales. Again, this helps explain 2011’s lower sales quantities but higher prices.
To read more about Boston’s booming real estate prices, visit Boston.com’s article at http://articles.boston.com/2011-07-26/business/29817026_1_condo-market-condo-prices-debra-taylor-blair.
The Stanley Cup once again was raised high over the Boston Waterfront neighborhood with the Boston Bruins and friends. But the celebration didn’t stop here. The Cup was also paraded through the city on Saturday, starting from the Garden in the North End and through a sea of ‘black & yellow’ all the way to Copley Plaza. But while it was here on the Waterfront at the Union Wharf luxury buildings, NorthEndWaterfront.com captured these great photos.
NorthEndWaterfront.com photos, courtesy of Dan Flaherty.
Posted by: Vito Ascolillo
You may not realize it, but finding the perfect Boston luxury home is actually a lot like find the perfect mate!
Finding true love and finding a home you will truly love, both start with you looking for something that will be in your future. Like dating, when you search for a new home, you go searching for something attractive, comfortable, and even sexy. There are certain criteria or conditions to be met like size/heart, how many rooms/weight, date built/age, updated appliances/nip-tuck, missing shingles/hair loss, etc.
Each home has its upside and downside just like each date. Is it a warm place/does he have heart? Are there too many stairs/is she understanding? Can I hear the neighbors through the walls/is he listening to me?
So you keep searching and dating, then finally, you find it! The perfect Boston home and the perfect person.