30
September
2014

CHRISTOPHER COLUMBUS PLAZA AVAILABILITY – As of 9/30/14

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Two Bedroom – 10/15/2014 – #414 -Commercial Wharf 009 $3,100 – Utilities Included: This residence is located on the fourth floor and has a view of the courtyard.  Galley kitchen with a pass thru has granite counters and stainless steel appliances. Hardwood floors throughout.   Residence is freshly painted, and new windows throughout. There is a total of six closets with five of them being triple width so there is plenty of storage.  All utilities including electric are included in the rent.

Two Bedroom – 10/15/2014 – #411 – $3,200 – Utilities Included: This residence is located on the fourth floor and has city and harbor views.  Kitchen with pass thru has granite counters. Hardwood floors throughout. Residence is freshly painted, and new windows throughout.  All utilities included In the rent.

One bedroom – 11/1/2014 - #335 – $2,650 – Utilities Included: This residence is located on the third floor with harbor and city views.  Galley kitchen with pass thru has granite counters; new floor to ceiling windows in living room; freshly painted; hardwood floors throughout and new windows in bedroom. Balcony.

One bedroom – 11/1/2014 – #529 – $2,650 – Utilities included: This residence is located on the fifth floor and has breathtaking views of the harbor.  Galley kitchen with pass thru has granite counters and a pantry/utility closet; living room has floor to ceiling windows; all windows are new and hardwood floors throughout.  Balcony.

One bedroom - 11/15/2014 – #134 – $2,500 – Utilities Included: This residence is located on the first floor overlooking the private courtyard.  Living Room has floor to ceiling windows and hardwood floors.  Galley kitchen with pass thru has granite counters and a two-sided closet (one side for pantry items and the other for utilities).  Bedroom has hardwood floors.  The unit new windows throughout and is freshly painted. Balcony.

14
August
2014

Market Review – Waterfront/North End

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The past few months have been especially strong for the Boston condo market and out of the downtown markets the Waterfront/North End has been the strongest. Between the two neighborhoods, North End and Waterfront, the average increase in values has jumped 5.5% in the past six month period. Essentially all of the major Waterfront and North End buildings have shown substantial increases in value.

See below for some of the interesting facts about property values in the Waterfront/North End over the last six month period:

  • Waterfront price per square foot increase 5%
  • North End price per square foot increase 6%
  • 44 Prince has seen a 20% increase in price per foot
  • Fulton Street sales have seen a 10% increase in price per foot
  • Intercontinental has seen an 8% increase in price per foot
  • The Mariner has seen a 6% increase in price per foot
  • Commercial Wharf has seen a 4% increase in price per foot
  • There are currently seven buildings in the Waterfront averaging over $900/sf.

-          Commercial Wharf - $913/sf.

-          Union Wharf - $960/sf.

-          Intercontinental – $979/sf.

-          The Mariner – $991/sf.

-          Battery Wharf - $1,087/sf.

-          Rowes Wharf - $1,241/sf.

-          Burroughs Wharf - $1,424/sf.

4
June
2014

May Sales Figures Strongest Yet

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A recent article on the popular real estate website Curbed stated that in the month of May almost 65% of all sales in downtown Boston went for over asking price. Also, in the nine major market areas throughout the city that were part of the study, 19 of these sales went for more than $100,000 over the seller’s asking price. In surrounding communities such as Cambridge and Somerville as high as 90% of sales went for asking price or above. While it is not new news it is still very clear that there is a severe shortage of available property throughout the city and in surrounding locations. The market continues to get stronger and stronger as time goes on with demand at a seemingly all-time high. For information on how to get top-dollar for your home contact CL Waterfront Properties for more information.

 

http://boston.curbed.com/archives/2014/06/boston-over-asks-bates.php

20
May
2014

Good things to know about Commercial Real Estate:

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Commercial space around the Waterfront has always been an exciting part of Real Estate.  Some rent immediately and others take a little time to find the right tenant. Commercial properties are specific in size, price, and location. They could range in various sizes, lets say 500SF to 14,000SF (This size was on the market a few years ago) and they could range vastly in price. It’s a little different from your average residential condo because of the vast specifics in differentials. Commercial space seeks a tenant for at least 3 years, while a residential condo seeks a tenant for only 12 months. The amount of time in the term is a big reason residential apartments are rented so quickly.

It is not uncommon to see a “For Lease” sign on a property for months to a few years (the latter, with larger space). The owner is seeking a particular tenant that can commit to a specific amount of money and time period. All of these factors lead us to the “net effective rent” for the property.

For instance, if the owner wants $100K in their bank account by the end of the 3 year lease, then we need to rent to the property for an average of $2777/month for the three years. At the end of the Lease, the owner is left with $100K in their bank account.  If a tenant can only spend up to $2500, then we can rent the property for the first year at $2500/month, second year is raised to $2777/month and the third year $3054/month. This increase makes up the difference and the owner is still left with $100K in the bank account.

For more information about commercial real estate, contact Travis Sachs, travis.sachs@clproperties.com

18
March
2014

The Waterfront Statistics-the Past 77 Days in 2014

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CLWP is proud to announce that in 2014 we have sold over $6.8 million in Real Estate on the Waterfront. Over $3.8M of the Real estate is sold to our own buyers- where we represent both parties in the sale. We are currently the #1 listing and selling office on the Waterfront with over 55% of the transactions sold and listed by our office. We have saved our buyers and sellers over $135,000 in fees concentrating on the market. We continue to strive to serve our clients with the best service and unsurpassable results.

14
March
2014

Boating Season is Here!

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It is that time of year again for good weather, boating and enjoying Boston’s Waterfront.  Many of our clients ask for information regarding the neighborhood marinas.  Slips are going fast so reserve your boat slip today.

Union Wharf Marina

Dan Flaherty – 617.742.1647

Seasonal Dockage (May 1 – Oct 31)

$140/Foot for Union Wharf owners

$160/Foot for Union Wharf sponsored guests

Contact Onsite Management Office for Daily/Weekend/Weekly/Monthly Dockage for rates and availability.

 

Lewis Wharf Marina

Raleigh Eastwick – 617.523.2313

Seasonal Dockage (May 1 – Oct 31)

Can have use of the pool

$165/Foot up to 35 Feet

$250-330/Foot for commercial boats

Water and electric are included

SOLD OUT

 

Burroughs Wharf Marina

Jim Richards – 617.523.8188

Seasonal Dockage (April1-Oct 31)

There is an annual charge between $4-5K for a deeded slip

 

Rowes Wharf Marina

Joe Gibbons – 617.748.5012

One slip will fit a 52’ yacht

The other slips hold boats in 40’ and smaller

$220.00/Foot + electric

 

The Boston Yacht Haven

Kevin-617-523-7352

Seasonal Dockage (May 1 – Oct 31)

$300/ft. for boats 35-60ft.

$340/ft. for boats  61-80 ft.

$370/ft. for boats 81-150 ft.

Transient slips available $6.50/ft. per day

 

Constellation Wharf Marina

617.242.2020

Slips can hold boats 25’-70’

Seasonal Dockage (May 1 – Oct 31)

$152/ft. includes electricity, water, wi-fi and access to bathrooms.

Parking is an additional fee

UNDER CONSTRUCTION

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For more information on the neighboring marinas contact Gianni DePalma.

 

30
January
2014

What to Expect in 2014

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2013 was a groundbreaking year for real estate transactions in and around Boston, but what does this mean for 2014? While many are expecting the market to remain strong there have been some important changes to the real estate landscape that will undoubtedly have their effect. For instance the average mortgage rate has jumped up a full percent since this time last year and is attributed to a slight slowdown in home sales this past December. Some economists are optimistic, since rates are still relatively low, buyers will want to lock in a rate before they creep higher. One thing nearly all economists are in agreement on is that as the general economy improves mortgage rates will continue to climb. The rise in rates seems to have the most significant effect on first time homebuyers since even the slightest increase in mortgage rates can drastically alter what property they can afford to purchase. In 2013 the real estate market experienced growth in nearly every measurable category including median sales price, volume of properties sold and the number of properties that sold for over asking price. Much of this is attributed to strong buyer demand and historically low inventory levels. Market specialists claim that had there been more inventory the figures from last year would have only been that much stronger. An increase in overall inventory would also help to balance out pricing in Boston and surrounding communities where many properties last year sold in bidding wars for well over asking price. If in 2014 we see an increase in inventory, I would expect for pricing to balance out and the market to remain strong. If inventory levels were to remain low or dip lower, the expectation would be for prices to continue to inflate due to a continued strong demand. For more information about the real estate market in 2014 contact Scott Accorsini at scott.accorsini@clproperties.com.

7
January
2014

Influx of rentals available in 2014… Good news for renters

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This year -according to MLS- The North End and The Waterfront have 52 available properties for rent; Last year at this same time, the market only had 19 properties available for rent. Landlords are not pleased with this statistic.  However, consensus in the area shows landlords are not worried. The city does have ups and downs and we realize from the calm after the storm that the market is beginning to settle. Owners in the North End and Waterfront know their property will always pull an extremely high demand.

I am not worried either.  For more information on any of these properties, or to bounce ideas about the market, please contact Travis Sachs at Travis.sachs@WPBoston.com.

2014 Available Rentals in the NE and Waterfront: 2013 Available Rentals in the NE and Waterfront:
52 Available on 1/7/2014 19 Available on 1/7/2013
   
One Bedrooms: 28 Available One Bedrooms: 8 Available
Two Bedrooms: 22 Available Two Bedrooms: 11 Available
Three Bedrooms: 2 Available Three Bedrooms: 0 Available
2
January
2014

2013 Year in Review: Waterfront/North End Sales

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Most Expensive Sales

- 500 Commercial PHC1-2  -  $4.15M

- 500 Atlantic 16K  -  $3.223M

- 20 Rowes Wharf TH8  -  $2.85M

- 20 Rowes Wharf #310  -  $2.85M

- Union Wharf TH25  -  $2.8M

 

Most Expensive Condo Sale (North End)

- 20 Tileston PH2 – $1.395M

 

Most Expensive Building Sale (North End)

- 6 Cleveland Place – $6.6M (17 Units)


Highest Price/Square Foot

- 300 Commercial Street #1003  -  $1.41M/971  =  $1,452/sf.

- 20 Rowes Wharf #310  -  $2.85M/2,068 sf. = $1,378/sf.

- 300 Commercial Street #901  -  $1.925/1,492 sf. = $1,290/sf.

- 300 Commercial Street #904  -  $1.925M/1530 sf.  =  $1,258/sf.

- Union Wharf TH25  -  $2.8M/2304 sf.  =  $1,215/sf.

- 20 Rowes Wharf TH8  – $2.8M/2349 sf. = $1,213/sf.

 

Average Price Per Sqaure Foot 2013

Waterfront Buildings

Rowes Wharf – $1,208 sf. (3 Sales)

Burroughs Wharf – $1,053/sf. (1 Sale)

Battery Wharf – $975/sf. (6 Sales)

The Mariner – $956/sf.  (10 Sales)

The Intercontinental – $898/sf. (19 Sales)

Union Wharf – $896/sf. (5 Sales)

Commercial Wharf – $882/sf. (10 Sales)

Prince Building – $830/sf. (3 Sales)

Lewis Wharf – $751/sf. (6 Sales)

The Bulfinch – $724/sf. (5 Sales)

The Folio – $701/sf. (8 Sales)

Broadluxe – $683/sf. (6 Sales)

Harbor Towers – $664/sf. (39 Sales)

The Strada – $654/sf. (7 Sales)

Lincoln Wharf – $527/sf. (4 Sales)
 

North End Buildings

20 Tileston – $863/sf. (5 Sales)

44 Prince – $767/sf. (2 Sales)

61 Prince – $647/sf. (2 Sales)

26 Stillman – $593/sf. (4 Sales)

27
December
2013

Seller’s Market Expected to Continue Through 2014

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As buyers and sellers know, 2013 was a year where the real estate market showed strong demand but inventory levels were never able to keep up. With a vast amount of new construction underway in the city it appears this imbalance will eventually figure itself out. However, many analysts see the current seller’s market continuing into the new year primarily due to the fact that much of the construction is not slated for completion for another year or two. The city proved this year that it is more than prepared to absorb additional inventory with the hugely successful completion of Millennium Place, located in Downtown Crossing. Next door to Millennium Place ground has broken on the construction of Millennium Tower which will add 450 high-end residential units to the marketplace. As for Waterfront development the Seaport will be the area where we will see the largest boost in inventory of the coming year. 22 Liberty on Fan Pier will be bringing an additional 118 units to the market which will cater to the high-end buyer as well. With major developments either planned or underway in virtually every neighborhood throughout the city it will be interesting to see how quickly property is absorbed over the coming months and years. For additional information on market conditions and new developments please contact CL Waterfront Properties, LLC.

http://bostonherald.com/business/real_estate/2013/12/boston_seller_s_market_to_continue_for_a_while

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