South Boston Apartments

Million Dollar Condos Are The New Reality

What was once a neighborhood characterized by its affordable property values and family-run restaurants has transformed into a rapidly-developing market filled with million-dollar homes. In 2018, the average sale price in South Boston skyrocketed to $803,513, up 10% from 2017 and 86% from 2008. South Boston’s housing market is booming, with 55 transactions currently under agreement and average days-to-offer at just 20 days.

South Boston’s housing market is shifting out of reach for working-class adults and into the territory of elite young-professionals. Ten years ago, only 3% of the 419 condominiums sold were priced between $700,000 – $1,000,000. Almost all condos were selling under $699,000, with a huge portion under $349,000. Last year, 278 condos, or 45% of all inventory was listed within the 700,000-1,000,000 range. These exorbitant prices keep condominiums as a distant aspiration for young adults looking to establish themselves.

In 2008, a $429,500 investment could get someone a new construction two-bedroom condominium with a private roof deck and other state-of-the-art amenities. For the same price in today’s market, buyers won’t even be able to find a single listing.

While the condominium market is certainly experiencing dramatic growth rates, it may be nearing a cooling point in price growth. For the first time since 2013, listing prices have surpassed the asking prices, indicating that there is less competition in bidding for these coveted condominiums. Given its proximity to the Seaport and the surplus of upcoming housing in Washington Village, South Boston will remain a highly demanded sub-market for young-professionals.

As prices continually to rise, it may seem unlikely one will be able to find a reasonable priced condominium for sale, but there are still affordable options out there. Like Charlestown, the average price per square foot is markedly more affordable when purchasing a 3-bedroom condominium. These three-bedroom spaces have nearly double the average living area when compared to one-bedroom listings, with the 24 active three-bedroom spaces having an average living area of 1,553 and the 12 one-bedroom listings having an average of 873.

Neighborhood Spotlight: South Boston

South Boston Map neighborhood spotlight

This neighborhood spotlight focuses on South Boston as it is becoming one of Boston’s top markets after transforming from a gritty neighborhood to an area booming with home sales and new construction projects.

There are many factors contributing to Southie’s newfound popularity, but we’ve summed up some of the highlights thanks to Boston Agent Magazine.

In July, South Boston was the top-selling neighborhood in the city, and the condo market was amongst the best selling in the whole of Greater Boston.

south boston neighborhood spotlight

The only neighborhoods to pass it in transactions were Brookline and Cambridge.

As with much of the rest of Boston, the neighborhood’s sales have been continually strong and prices are high and rising. So far this year, the median price for single family homes is $699,500, which is 24.2% higher than in 2015.

Construction in all of Boston has been booming and much of this has been in South Boston.

A RealtyTrac report covering the city’s housing boom said that the BRA has approved 52 projects alone in South Boston,  as well as 36 along the waterfront.

The neighborhood is much more than just the housing boom, with rich cultural and culinary scenes.

The St Patrick’s Day Parade is the second largest in the country and many of the popular Boston dining options are situated in the neighborhood.

Contact our advisors for more information about buying your new home in South Boston.

488 Dot Luxury Condos Opening in Southie

488 Dot luxury condos

488 Dot luxury condos in Southie are scheduled to open to residents this September, emphasizing even more how the neighborhood is drastically changing.

The 33-unit building is not quite a high-rise, but is much different than what was originally found in the area.

The standout features of this new development lie in the phenomenal views, luxury amenities and prime location.

The fourth floor penthouses come complete with private roof decks and all of the units have features to brag about. These include, in-ceiling speakers, soaking tubs, gas fireplaces, heated parking, a fitness center and it is pet friendly.

The location is ideal, right in the center of the evolving Southie neighborhood, within close walking distance to both Broadway and Andrew T stops and surrounded by plenty of dining and bar options.

Southie has undergone a huge transformation in the last decade and Dorchester Ave. is convenient and seeing a ton of new and redevelopment.

The 488 Dot luxury condos are spacious and open, each offering two bedrooms and two bathrooms.

Price for the units range from $650,000 to just over $1 million.

Contact our advisors for more information on these and other new developments throughout Boston.

Washington Village Set to Transform South Boston

Washington Village

A transformative project has been approved by the Boston Redevelopment Authority to transform a five-acre area of South Boston.

Washington Village has been in the works for over a year and will bring over 650 housing units and 99,000 SF of retail space to the area.

The developers, DJ Properties LLC, have proposed a project that spans eight buildings bounded by Dorchester Avenue, Dorchester Street and Old Colony Avenue.

The huge new development is hoping to transform the area, with convenient Red Line access at Andrew Station and by offering a community for residents. The project is among the largest residential developments recently approved by the BRA.

Washington Village

While there will be rental and ownership options within the residential units, there will be more for sale than for rent. There will be options ranging from studios to three-bedroom units available within the development.

The eight buildings will range from three stories to 21 stories and construction will be carried out across three phases.

Along with the residential and retail space will be 42,500 SF of new open space, including pedestrian plazas and landscaped areas and a new roadway network hoping to compliment the surrounding neighborhood.

Within the retail development there is expected to be a grocery store, a pharmacy, restaurants and cafes.

Contact our advisors for more information about Washington Village and other new developments around Boston!

99 D Street Luxury Condos Complete

99 D Street Interior

The luxury condo project at 99 D Street is complete and ready for residents.99 D Street

The small development has four units across four floors, each complete with four bedrooms and three baths and their own private balcony.

99 D Street is finished with high-end luxury touches including built-in speakers, open layouts, walnut flooring, gas fireplaces, video intercom and direct elevator access.

Residents will also have access to a shared rooftop space, providing unobstructed views of Boston and a large outdoor space.

The development is conveniently located in South Boston, with easy access to the Broadway Station, Andrew Square and the beach.

The units range from $999,000 to $1.299 million and are each 1,960 square feet with a garage parking space.

Contact our advisors for more information about 99 D Street or any other new developments in Boston. 

Fuji Brings Asian Fare to Ink Block

Fuji at Ink Block

Ink Block is not only one of the most exciting new residential developments this year, but it has continued to bring with it a huge range of new restaurants and exciting retail space.

Fuji at Ink Block Map

One of the newest additions is Fuji at Ink Block, scheduled to open on August 1st.

Fuji brings with it a fleet of sushi boats, fine Asian fare, Sichuan entrees, soups, salads, dumplings and even more.

The JP Fuji Group ventured into the Boston restaurant world almost 20 years ago and this is an exciting addition coming to the South End.

The group began in Quincy and now have nine restaurants throughout the area, with this new addition at Ink Block making it 10.

Once the restaurant opens you can experience all of the delicious food from 11am to 1am seven days a week.

Contact us for more information about making Ink Block your new home!

Luxury Condos Coming to 14 West Broadway

14 West Broadway

A new luxury development is under construction in South Boston and scheduled to open in 2017.

14 West located at 14 West Broadway will have 49 residential condos ranging from one bedroom to four bedrooms and plenty of luxury amenities.

The units will have open concept layouts, floor-to-ceiling windows, stunning city views and high-end finishes throughout.

There are plenty of community amenities included in the building, hoping to offer residents everything they need right on their doorstep.

14 West Rooftop

These include a communal rooftop deck, a fitness center, a 24-hour concierge, a ground floor restaurant and cafe, underground parking and 24-hour valet service.

Residents will have access to both ZipCar services and Hubway bikes onsite.

Pre-sales of the condos have begun and it is scheduled to be complete by the end of 2017.

Contact us for more information about 14 West Broadway!

Look Out for These Properties Along the South Boston St. Patrick’s Day Parade Route

Corned beef and hash and green beer are taking over Boston this St. Patrick’s Day. Irish pubs are getting ready for festive celebrations and Kelly green is sweeping the city streets.

With all of this, it’s no wonder Boston was deemed the number 1 city in the United States to celebrate St. Patrick’s Day. St. Patty’s traditions, cost, weather, and safety and accessibility were factored in to determine the overall winner. These qualities also make this area a great place to live.

With its abundance of Irish pubs dotting the sidewalks of almost every neighborhood in Boston, bagpipes and the annual St. Patrick’s Day parade in the South End, Boston embraces its Irish heritage every March 17th through the weekend.

As you make plans this weekend to partake in the St. Patty’s Day traditions, here are a few properties to look out for as you walk along the South Boston St. Patrick’s Day Parade Route in South Boston.

  1. 901 East Broadway

901 East Broadway South Boston

  1. 525 East First

525 East First South Boston

  1. 794 East 6th

794 East 6th South Boston

  1. 881 East 2nd

881 East 2nd South Boston

  1. 893 East 2nd

893 East 2nd South Boston

Find these luxury condominiums and more in South Boston. Email us at contact@advisorsliving.com for more information.

Ink Block Home to New Turnstyle Cycle Studio

Ink Block, South End’s newest and arguably swankiest modern luxury apartment complex at 300 Harrison Avenue, will be home to the newest cycle studio. Turnstyle Cycle is joining forces with Velo-City to become one boutique fitness company. The two studios made the announcement in a press release and on the Velo-City blog last week and tweeted about the new relationship. Ink Block welcomed them with open arms adding the cycling studio to its ShrINK classes and fitness amenities. Velo-City will take on Turnstyle’s name, bringing the instructor count to 30 instructors and sporting the most bikes of any boutique fitness company in the area at 130 stationary bikes spread across 3 studio locations.

March 30th from 7:30pm-10:30pm, Turnstyle in partnership with Pan Mass Challenge will co-host a launch party in the posh main lobby of “1 INK” at the Ink Block luxury developments. There will be an open bar and sneak peek tours of the new studio. Tickets are $15 and available for purchase. 50% of the proceeds will be donated to the Dana-Farber Cancer Institute’s Pan Mass Challenge.

Ink Block isn’t stopping at adding cycling studios to its residences. Also coming to the neighborhood around the complex is Core Power Yoga, Sweet Green, Bar Mezzana, and a cocktail bar from Ken Casey Dropkick Murphys guitarist.

Want to learn more about the South End’s most talked about luxury apartment developments at Ink Block? Email us at contact@advisorsliving.com for more information.