SOLD $720,000 | 509 The Mariner | Waterfront | 1 Bed | 1 Bath | 1 Balcony | 739 Sq. Ft. | Seller & Buyer Representation | Newly Renovated, one plus Bedroom
Waterfront Side Residence with Brick & Beam
2015 was a great year for the economy not only locally but nationally as well. The country added 2.3 million jobs and unemployment has fallen below 5%. Here in Massachusetts, we saw an economic surge not seen since the 1990’s. Especially in Eastern Massachusetts we have seen first-hand how strong the economy has become. Anyone driving in or around Boston will notice a skyline filled with cranes and new luxury towers being built all throughout the City. With the job rate steadily growing here in Boston, developers are in a competitive environment to grab land wherever available and start building. In the City, we have witnessed the price of real estate continually rise and, in many cases, prices have reached or exceeded the high water mark just prior to the recession of 2008. The strength of the economy was no stranger to the Waterfront in 2015 with the average sales price of a home being just under $1.2M. The average price per foot in 2015 was $890/sf. in comparison to $844/sf. is 2014 and $760/sf. in 2013. This is a pretty impressive jump in only two years to see the average price per foot increase by more than 10%. In 2015 many of the luxury Waterfront buildings, including Rowes Wharf, Burroughs Wharf and Battery Wharf, saw properties selling for as high at $1,800/sf.
|Property||Avg. Sale $/Sq.Ft. (past 12
North End Buildings:
|Property||Avg. Sale $/Sq.Ft. (past 12 months)|
Waterfront average $/Sq.Ft. : $693/Sq.Ft.
North End average $/Sq.Ft.: $615/Sq.Ft.
Multi-family buildings are in high demand along the Waterfront and North End. This past week an auction was held for a historically significant five story, eight-unit building located on Charter Street in the North End. The building was the former home of the Saint Joseph Society which has since relocated to Hanover Street. The Charter Street building was sold in the auction to a local resident and business man for the price of $2.4M, after dozens of bidders vied for the property. The building is currently assessed at $831,000 which shows the high demand for investors to buy income generating properties in the North End/Waterfront neighborhood.
The City of Boston has acquired the North Bennet Street School buildings, and will give them to the Boston Public Schools to be used to expand the Eliot School. Expanding the Eliot K-8 School into the existing North Bennet Street School properties will allow NBSS to grow its trade and craft school in the North End. Through a cash and real estate swap valued at $11.4 million, NBSS will relocate to the former police station and printing facility on North and Richmond Streets.
The move to North Street will allow the Eliot school to unite all of their programs in one building, expand their continuing ed program, provide meeting spaces, and enhance their presence as a cultural organization in the North End. The printing facility will be used to house educational programs, and the adjacent police station will be converted into office and meeting spaces.
Both the city and the respective schools released glowing statements praising the move, with Mayor Menino publicly commending all involved this past Tuesday in person at the Eliot School. To find out more about this transaction, the North End, and any of the amazing North End Boston real estate on the market today, contact the local experts at CL Waterfront Properties.
Great news for families and community members in the North End, the Eliot elementary school is getting closer than ever before to some much needed expansion in their bid to acquire the North and Richmond Street buildings up for sale.
After spending some time in a marketing period and having two-dozen developers attend property tours of the real estate, no interest has been shown for housing purposes by any of the developers. This is a good sign for those in favor of purchasing the property in the school’s best interest.
Acquiring the buildings would greatly improve the Eliot’s capacity to accommodate an ever-expansive community, especially with a waiting list larger than its current student body.
The school expansion will also benefit the community as a whole, giving more families a reason to stay in the city, not to mention Eliot has a great reputation of being one of the best public schools in Boston.
Much credit is given to Principal, Traci Walker Griffith, for bringing the school’s academic level and achievements to where it is today. During her tenure, the school has turned around and test scores have only gone up, while other schools in the Boston public school system have closed. With more seats available to children at the Eliot can only mean good things for the North End and Boston.
If you are interested finding your new home in or around the Boston area, please contact CL Waterfront Properties today.
Scaffolding has finally come down on the side of Saint Leonard’s church facing the Peace Garden – showing a new red Catholic cross. Excellent visibility from Hanover Street makes this new addition to the area an instant landmark, sure to boost the already high value of North End real estate. Repairs to the wall and the addition of the cross are part of a larger renovation project for the garden; the new cross sits across from the mural painted by local artist Nathan Swain.
The mural, featuring verdant greenery in keeping with the Peace Garden overlook came first in the sprucing up of the area. Artist Swain explains: “I approached the church and I also talked to Frank the owner of Assagio. They both liked the idea of covering the blank ugly wall with something green. I had Boston Building Wraps print and install the banner.”
St. Leonard’s was the first Roman Catholic Church in New England built by immigrants from Italy, in 1873. It is located at the corner of Hanover and Prince Streets in the heart of the historic North End, just steps from the finest Boston waterfront properties. St. Leonard’s is known for its Saint Anthony shrine in the downstairs church, the oldest shrine to the saint in Boston. The Peace Garden is known to all in the neighborhood and beyond as a peaceful retreat from the busy streets of the North End. To find out more about living in this historic part of Boston, contact CL Waterfront Properties today.
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.