14
June
2012

Waterfront Properties in Boston Market Update!

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2012 Real Estate Stats for Waterfront Luxury Buildings

The local real estate market has been very active during the past six months. Much of this action has taken place here on Boston’s Waterfront. Below, find a table that displays the average price per square foot for some of the more popular buildings along the Waterfront:

PropertyAvg. Sale $/sq.ft. (past 6 months)
Battery Wharf915
Burroughs Wharf1,115
Commercial Wharf783
Harbor Towers513
Lewis Wharf731
Lincoln Wharf540
Prince Building657
Rowes Wharf896
The Mariner882
Union Wharf780

 

 

 

 

 

 

 

 

Here are some details on our beloved Waterfront buildings:

Battery Wharf:The Residences at Battery Wharf consist of 104  apartments. Battery Wharf is the home of the Luxury

Battery Wharf

Battery Wharf

Fairmont Hotel and enjoys full services, a fitness center, fine dining and Exhale Spa. This property is located on Boston’s Harbor, steps to the historic North End and minutes to Downtown Boston, Faneuil Hall, The Garden and all major transportation points. Battery Wharf, which got its certificate of occupancy in 2008, has only four original units left to be sold.

Burroughs Wharf: Burroughs Wharf, built between 1989 and 1993, is conveniently located at the edge of Boston’s harbor, steps from the historic North End and adjacent to the new Fairmont Hotel. Burroughs Wharf has 69 apartments located in two buildings. Amenities include at least one garage parking space and 24 Hour Concierge. Marina slips are available as well as a water shuttle to the airport. Burroughs Wharf, with its ceiling-to-floor glass windows, is known for its spectacular views of Boston’s harbor and skyline. Burroughs Wharf’s price per square foot currently sits at $1,115/sq.ft., but this does not include a 1573 square foot totally renovated home that is currently under agreement for approximately $1,400/sq.ft.

Commercial Wharf: Commercial Wharf is a five-story granite building consisting of 94 units. Built in 1832 for warehousing to and from the Far East, this property was converted into condominiums in 1978. This property is best known for its purest views of Boston’s skyline and harbor. There is Exclusive-Rights parking. It is also the home for the Boston Yacht Haven, and marina slips are available. Two stunning penthouses recently sold for over $980/sq.ft. This strong activity, coupled with the newly upgraded hallways, has made Commercial Wharf one of the hottest buildings on the Waterfront.

Harbor Towers: Harbor Towers I and II were designed by I.M. Pei in 1972 with an eye toward capturing the finest views of Boston Harbor and the city skyline from each unit. There are 312 units in each of these 40-story buildings with eight units on each floor. Services include 24-hour gated security and concierge, seasonal harbor-side swimming pool, renovated and furnished lobbies and on-site management. Harbor Towers has multiple units that are currently under agreement. When these homes close, the average price per square foot for these towers should experience an encouraging jump.

Lewis Wharf:  Lewis Wharf was built in the 1830’s as a major shipping warehouse and converted to condominiums in 1973. There are 90 residential units on four floors and 41 commercial units on the first two floors. These apartments, reminiscent of their historic beginning, have high ceilings, bricks and beams, and most have fireplaces. Building amenities include 24-hour concierge and security, two elevators, a luxurious swimming pool, beautiful gardens and the only rooftop common laundry room in the city with panoramic views of Boston. Rental parking is available. Lewis Wharf, the first building to be condominiumized along The Waterfront, continues to be a desirable building for any buyer. 

Lincoln Wharf

Lincoln Wharf

Lincoln Wharf: Formerly the MBTA Power Station, this Historic brick Waterfront building was built in 1901 and converted to condominiums in 1987. This lovely elevator building’s amenities include a 24-hour Concierge, a Fitness Center, an interior Atrium, a lending Library, a Function Room and a Harbor-side Garden. Lincoln Wharf, known for its spacious residences and Harbor views, is located on the primary footpath of the Waterfront between Battery Wharf and Union Wharf, adjacent to Burroughs Wharf, and is just a few steps from The Historic North End, Downtown Boston, and all major transportation points. Lincoln Wharf had 16 sales last year and was recently featured on Chronicle for its role as a “recycled” and revitalized building along Boston’s Waterfront.

The Prince Building: Converted to condominiums in 1974, The Prince Building in an elevator building with 42 condominium units with garage parking. This Historic Building was originally built in 1917 and was the site of The Prince Macaroni Company pasta factory. The Prince Building, known for its dazzling views, is situated on the primary footpath of the Waterfront across the street from Commercial Wharf East and Lewis Wharf and just steps from The Historic North End, Downtown Boston, Faneuil Hall and all major transportation points. This dynamic location is also close to the Christopher Columbus Park and The Rose Kennedy Greenway. Many of the East facing homes at the Prince Building feature spectacular Harbor views. Recently, a corner East facing penthouse sold for $668/sq.ft.

Rowes Wharf: The Residences at Rowes Wharf consist of 100 apartments and were built in 1987. They are a unique combination of quality craftsmanship, expansive water views and superb luxury hotel amenities. There is 24-hour concierge services, valet or self-parking, access to the Rowes Wharf health club and pool, and a marina. For the record, the price per square foot last year was $1,063/sq.ft. and was the highest on The Waterfront.

The Mariner: Converted to condominiums in 1984, The Mariner is a concierge building with 105 residential condominiums with garage parking. Formerly one of the waterfront warehouses, this building was meticulously renovated to showcase its maritime history. This property, known for its fabulous views, greenhouse windows and some of the largest decks on Boston’s Waterfront, also has a fabulous common roof deck with 360 degree views of the Boston Harbor and City Skyline. The Mariner is located on the primary footpath of the Waterfront and is across the street from Union Wharf and steps from the newly developed Battery Wharf and The Fairmont Hotel. It is also steps from the historic North End, downtown Boston, the Financial District, Faneuil Hall and all major transportation points. The Mariner features a spectacular home with one of the largest deck/garden on The Waterfront which recently sold for $1,269/sq.ft.

Union Wharf: Union Wharf is considered one of the most prestigious addresses on The Waterfront. These beautiful granite buildings were built in the 1830’s as warehouses and were converted into condominiums in 1978. This prestigious property is best known for its loft-like, brick-and-beam apartments, beautiful landscaping and “residential-like” feeling. This wharf is comprised of two granite buildings and 23 three-level townhouses. It consists of 89 units, of which 71 are residential and the remaining 18 are commercial/residential. These high-end buildings have 24-hour gated parking, full-time, on-site maintenance, a sea-side heated swimming pool, guest parking and marina slips. Union Wharf features a breathtaking penthouse that recently sold for $1,053/sq.ft.

5
March
2012

How Much House Does A Million Dollars Buy You?

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63 Atlantic Ave. #11-E

MSN Real Estate recently posed this question, along with a slideshow of some million dollar properties nationwide – you can read the article here. Carmela Laurella was featured along with her exclusive penthouse listing in the Prince building, listed at $979,000. “(With) the combination of realistically priced homes, all-time-low interest rates and improving unemployment, consumers once again have confidence and feel that it is a good time to invest in property,” Laurella said. “Additionally, we have limited inventory on the waterfront and tremendous buyer demand.”

A million dollars buys you a lot of Prince Building condo in this case. A corner penthouse with a large private balcony facing the Harbor, this is a real value among Boston waterfront properties. Inside, cathedral ceilings and maple floors await, along with floor to ceiling windows, a large kitchen with skylight, and a master bedroom with en-suite bath and breathtaking views of the Zakim bridge and historic North End.

To find out more about this amazing penthouse or any of our other fine Boston luxury condos, contact CL waterfront today.

7
July
2011

“Old Ironsides” Annual Fourth of July Turnaround

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In part of a 4th of July tradition, the U.S.S. Constitution raised its colors, hoisted its sails and left port from the Charlestown Navy Yard for its annual turnaround.  “Old Ironsides” is the oldest vessel still commissioned in the United States Naval fleet.

In the Boston Harbor last Monday, the warship sailed along the Boston Waterfront until it reached Castle Island where its crew conducted a 21-gun salute from its battery of canons before turning around and returning to its home for another year.  Here’s a video of this year’s event.  Doesn’t get any more patriotic than this… Happy Birthday, America.

USS Constitution sets sail along the Boston Waterfront during the Fourth of July Celebrations

 

 

31
May
2011

Boston Waterfront Sales Report for May

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Real estate sales on the Boston Waterfront and in the North End were hot, hot, hot, throughout the month of May.  Luxury homes and condos are becoming more desirable than ever. Now that summer is in full swing with plenty of barbecues, beach days and Red Sox games ahead, there’s no better time than to find that perfect dream home in Boston.  Here are the latest success stories sold along the Boston Waterfront and North End.

50 Battery St. #PH5
A Glamorous waterfront penthouse in the Burroughs Wharf with 3 bedrooms and 3.5 bathroom at 2,322 sq/ft, was sold by Carmela Laurella, CL Waterfront Properties’ President, at a whopping $2,595,000.

3 Battery Wharf #3506
A spacious south facing duplex home located at the Battery Wharf with 2 bedrooms and 2.5 bath at 1,916 sq/ft, was sold by Carmela Laurella, CL Waterfront Properties’ President, at a generous price tag of $1,662,500.

2 Battery Wharf #2308
Another spacious luxury home located at the Battery Wharf with a huge open floor plan, 2 bedrooms and 2.5 bath at 2,162 sq/ft, was sold by Carmela Laurella, CL Waterfront Properties’ President, at $1,575,000.

85 E. India Row #12H
Also sold along the waterfront by CL Waterfront Properties’ President, Carmela Laurella, is a lovely 1 bedroom, 1 bathroom luxury condo with 876 sq/ft of space at an easy $410,000.

Other luxury homes sold in the last month along the Boston Waterfront are 90 Salem St. #9 luxury condo with 1 bedroom, 1 bath at 635 sq/ft for $318,000.

The luxury studio located in the Intercontinental Wharf at 500 Atlantic #14T with 1 bath at 426 sq/ft for $312,500.

Located in the Commercial Wharf at 328 Commercial St. #3 sold a beautiful 1 bedroom, 1 bath home at 631 sq/ft for $372,500.

At 136 Prince St. #6 a lovely 2 bedroom, 1 bath home at 630 sq/ft went off the market for $370,650.

Located in the Harbor Towers at 65 E. India Row #14D was a gorgeous 1 bed, 1 bath condo at 747 sq/ft for $425,000.

Also not to far from the last home is 85 E. India Row #29H, a 1 bedroom, 1 bath, 881 sq/ft condo sold for $505,000.

19 Cooper St. #4.  A wonderful 816 sq/ft home with 2 bedroom, 1 bath at $522,000.

And last, but not least, located on the Union Wharf at 343 Commercial St. #101, is the 2,552 sq/ft residential/commercial space at $706,000.

 

15
November
2010

When is the Right Time to Invest?

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Posted By:  Carmela Laurella

Real estate tends to run inverse to both interest rates and availability of credit.

With today’s mortgage rates at historic lows and following a correction of historical magnitude, at this point in time, I would suggest that real estate represents a fair value.

Time & Money Balance

I would further suggest that with both mortgage rates and prices down, that investing in a new home is as affordable as it’s ever been in the U.S.

One final thought would be that the primary footpath of Boston’s Waterfront is basically built.  They won’t be making any more and there is scarcity value in that alone…

CL Waterfront Properties has the market expertise to help you find the perfect new luxury home in Boston; whether you want to live in one of the full service Boston Waterfront buildings, or a luxury home in Back Bay or Bay Village, we can help find a home to fit your lifestyle.