Boston Luxury Condo

Boston Globe, “Everybody wins with luxury development in Boston” by Jason S. Weissman

Jason Opinion Article

A recent Institute for Policy Studies report offers a decidedly negative view of both the city’s luxury residential market and the homebuyers who support it. The study’s argument that the luxury buildings are populated by faceless corporate entities and international buyers seeking to park their money ignores a larger and exceptionally positive outcome for the city. (Full disclosure: As the principal of a full-service residential and commercial real estate brokerage firm in the Boston market, I represent many real estate owners and developers.)

First, the burgeoning community of luxury condos in Boston is, in economic terms, a net positive for the city — providing significant tax dollars and job opportunities. Contrary to the study’s one-sided viewpoint, luxury development in Boston provides new residential opportunities for those who are looking to move into the city.

In addition, the report seems to view ownership by international buyers as an inherently nefarious undertaking, calling one tower a “classic wealth storage” property. The study’s authors seem to have a decidedly dim view of international real estate transactions — perhaps based on data from other markets such as New York City and Miami, which have experienced an influx of problematic transactions and slow city reaction.

Boston is on the world stage for many respectable reasons — education, medical, life science, technology, and finance. As such, the Boston real estate market has and always will attract local investors, as well as equity from throughout the United States and around the globe.

I’ve worked with many types of investors and home buyers throughout my more than 20 years of working in Boston real estate. My experience is that the majority of the international buyers in Boston are connected to Boston in a variety of positive ways. They buy a home here because their child is attending a Boston university, or they want to be near our world-class medical care, or they are relocating to here for a well-paying job in the tech, medical, life science, or financial services fields.

One of the study’s primary negative data points is that 64 percent of luxury condo owners in the sample do not claim their residential exemption, which the study calls “a clear indication that the condo owners are not using their units as their primary residence.” However, this point is superfluous. The requirements to obtain the exemption are time consuming and unwieldy for an annual exemption that amounts to only a few hundred dollars for most homeowners. As such, many people who purchase luxury units will not spend the time on something with such a small benefit.

Instead of depending on subsidies and rent control like other cities, Boston’s affordable housing policies create a virtuous cycle wherein the more projects that are approved, the more affordable units are delivered — thereby creating a robust workforce with the buying power to fill them. Moreover, every new residential development increases Boston’s property tax base – which helps the city become socioeconomically appealing to all – thereby attracting more and more residents.

While decrying projects like Millennium Tower in Downtown Crossing, the study ignores the fact that annual real estate taxes generated from Millennium Tower singlehandedly exceeds $12.6 million —  equal to paying the annual salaries for 303 teachers or 168 police or 136 firefighters. Yet the number of police and fire calls to this building was four and the number of children using public schools is de minimis.

By Jason S. Weissman

Founder & Senior Partner – Boston Realty Advisors

These Are the Eight Most Expensive Homes for Sale in Boston

by Madeline Bilis, Boston Magazine

 

The Archer Residences

 

1. 45 Temple Street #1, Boston
Price: $18,000,000
Size: 5,998 square feet
Bedrooms: 4
Baths: 5

Meet the Archer Residences, 67 very fancy units coming to Beacon Hill in the near future. The Archer’s penthouse, which is currently the most expensive home for sale in the city at a whopping $18 million, is poised to be architectural marvel when it’s completed. Both levels of the home are connected by a floating wood-and-steel staircase enclosed by glass—and the shiny glass accents don’t stop there. Floor-to-ceiling sliding glass doors in the main living area open directly to a rooftop terrace, where there’s a Jacuzzi and an infinity-edge pool.

Introducing The Archer Residences

The ArcherAdvisors Living is proud to announce the exclusive sales and marketing of The Archer Residences in Beacon Hill. The Archer Residences, a boutique collection of beautifully designed condominium homes, offers individualized details and a full-service concierge experience in Beacon Hill, one of Boston’s most desirable neighborhoods. From the magnificent roof terrace to the state-of-the-art fitness and wellness center, valet service, and exclusive indoor parking, The Archer Residences are designed to make life easier.

From The Archer Residences, many of Boston’s greatest attractions are just a short walk away. Feeling the team spirit? Enjoy the Celtics and the Bruins, two of America’s most successful and historic teams, at TD Garden. Or maybe you just want to take a relaxing stroll around the historic neighborhood? The Boston Public Garden, built in 1837, is a beautiful public park that offers boat rides around its swan-filled lagoon. Louisburg Square, a quiet, historic green near The Archer Residences, was once home to many famous 19th century figures, including architect Charles Bulfinch, painter John Singleton Copley, and author Louisa May Alcott.

The Archer Fitness Center

The Archer Residences features 67 unique residences ranging in size from one to four bedrooms. Each residence has been thoughtfully designed, blending the historic character of Beacon Hill with an elegant hand-selection of materials and finishes.

The Archer Bathroom

Click here to schedule an appointment or call us today at 888-749-4805 to visit our sales center today at 20 Ashburton Place. We look forward to showing you what makes The Archer Residences the most exciting residential new construction project in Boston.

Pierce Boston Begins to Grow in Fenway

Pierce Boston with Sky Cabanas

The initial construction phase of Pierce Boston has been completed and residents and visitors to Fenway can now watch the tower grow.

The triangular intersection of Brookline Avenue and Boylston Street has been transformed to create the foundation for the 30-story luxury building.

Pierce Boston will feature 109 luxury condos, 240 luxury rentals and 20,000 square feet of ground floor retail space.

This luxury space is looking to really stand out and add contemporary sophistication to such an iconic area.

Now that the foundation is complete and the concrete has been poured the next phase promises quick and noticeable developments.

John Moriarty & Associates is behind the construction and say they anticipate a new floor will be added every seven days.

To stay up to date with the project you can watch it from above, from a live webcam feed.

Press has been calling Pierce Boston one of the hottest new properties in the world and it should be open by 2018.

Find full details about Pierce Boston and all of the luxury amenities here. To find your new home today email us at contact@advisorsliving.com.

Fort Point Condo Development Starting June

10 Farnsworth Fort Point Condo

Development on the long-awaited 10 Farnsworth Street luxury Fort Point condo building is expected to start this June, according to Boston Business Journal.

Developers TCR Development and JB Ventures were approved for construction on the project in January 2014 and announced that construction will begin within the next two months and pre-sales of the units will begin shortly, starting at $2.5 million.

This Fort Point condo development will bring 9 luxury apartments to an already vibrant and developing real estate market within the area. The units include luxury amenities such as roof gardens, floor to ceiling windows, chef kitchens and spa-like bathrooms.

There will be retail space at the corner of Farnsworth and Congress on the ground floor, however what exactly will occupy that space is still undecided.

Completion of construction of the building is expected for October 2017.

Full information about 10 Farnsworth Street is available here. To find your new luxury condo today email us at contact@advisorsliving.com.

Transforming Boston Train Stations

Back Bay Station

Three major real estate developments are set to transform three of the biggest Boston train stations: North Station, Back Bay Station and South Station.

The Boston Globe reported that these complex projects will bring with them residential towers, retail complexes, parking garages, improved train stations and even potentially one of the tallest buildings in the city. To keep up to date on the latest information regarding all of these new developments as they happen click here.

Developer Boston Properties has created a vision for the transformation of Back Bay Station, including three towers of 26, 28 and 34 stories rising above the station. Not far from the One Dalton luxury residences, this trio would include approximately 600 residences, retail and office space. The whole area would total around 1.26 million square feet and would reconnect Back Bay and the South End.

While the ambitious Back Bay project may be a few years away, Boston Properties along with Delaware North have already begun the project planned for North Station. The Hub at Causeway includes a 38-story residential tower, a large retail complex, restaurants, offices, hotels and an improved station.

South Station is also facing exciting change and could finally see one of the city’s biggest towers from the Houston developer Hines. The two tower project could reach 677-feet and is being developed to include more housing while also including office space and hotels.

Follow these new developments as they happen with Advisors Living. Email us at contact@advisorsliving.com.

Ink Block Series: 3 Ink

[This is a 3-part series on each of the Ink Pads located at 300 Harrison Avenue in the South End. Read about 1 Ink and 2 Ink.]

Ink Block is the newest and arguably swankiest new luxury apartment complex in the South End. Home to a Whole Foods in the building, the SoWa Market just beyond its doors and boutique cycle studio Turnstyle Cycle, Ink Block caters to the vibrant, young, artistic vibe of the South End. The most interesting part about the Ink Block is its division into three main complexes that compose it. 1 INK, 2 INK, and 3 INK were each designed with a unique style in mind, encouraging residents to Think Ink and find the style that most suits their personality.

3 Ink offers more refined finishes with warm light wood cabinets and quartz countertops. It’s warm, flexible and functional!

3 INK is located just past an area of parking from 1 INK and 2 INK with an urban style all its own. More refined finishes compliment these units, cozied with a warm color palette, these units feature light wood cabinets and functional spaces. Chic and sophisticated over the edgy modern designs of its two counterparts (1 INK and 2 INK), these units provide a quiet retreat on the outer edges of Boston’s city. Gato eatery and Joe’s are tucked under the residences, giving South End city dwellers access to all of the luxury amenities in this vibrant neighborhood.

To learn more about living at Ink Block or finding your home in the South End, email us at contact@advisorsliving.com.

Ink Block Series: 2 Ink

[This is a 3-part series on each of the Ink Pads located at 300 Harrison Avenue in the South End. Read about 1 Ink and 3 Ink.]

Ink Block is the newest and arguably swankiest new luxury apartment complex in the South End. Home to a Whole Foods in the building, the SoWa Market just beyond its doors and boutique cycle studio Turnstyle Cycle, Ink Block caters to the vibrant, young, artistic vibe of the South End. The most interesting part about the Ink Block is its division into three main complexes that compose it. 1 INK, 2 INK, and 3 INK were each designed with a unique style in mind, encouraging residents to Think Ink and find the style that most suits their personality.

2 INK

2 Ink is our edgiest building with open floor plans and industrial chic designs that feature artsy, streamlined finishes with bold black cabinets and highly contrasting colors.

Similar to that of 1 Ink, its counterpart 2 Ink connects residents with a skyline pool and outdoor entertainment lounge. The distinguishing features of this block are the open floor plans and edgy designs. Industrial chic with streamlined finishes and bold black cabinets accent these units. Painted with contrasting colors and featuring artsy, streamlined finishes, 2 Ink brings edgy, sophistication indoors.

Nestled just below these units, Whole Foods sees residents and local shoppers milling in and out of its doors and the local retail space neighboring it.

To learn more about living at Ink Block or finding your home in the South End, email us at contact@advisorsliving.com.

Ink Block Series: 1 Ink

[This is a 3-part series on each of the Ink Pads located at 300 Harrison Avenue in the South End. Read about 2 Ink and 3 Ink.]

Ink Block is the newest and arguably swankiest new luxury apartment complex in the South End. Home to a Whole Foods in the building, the SoWa Market just beyond its doors and boutique cycle studio Turnstyle Cycle, Ink Block caters to the vibrant, young, artistic vibe of the South End. The most interesting part about the Ink Block is its division into three main complexes that compose it. 1 INK, 2 INK, and 3 INK were each designed with a unique style in mind, encouraging residents to Think Ink and find the style that most suits their personality.


1 INK

1 Ink offers upscale, spacious floor plans, sleek modern kitchens and floor to ceiling windows with wide open views of the downtown skyline.

1 Ink is the main complex of units at Ink Block. Accenting these spaces are floor-to-ceiling windows with breathtaking views of the Boston skyline from sunset to sunrise. Sleek modern kitchens and upscale, spacious open floor plans bring modern touches to this historic neighborhood.

Steps from the SoWa market and ShrINK fitness classes are the beginning of the amenities offered by Ink Block. Galleries and studio spaces for local artists paint the sidewalks of this South End neighborhood. SoWa market draws residents from all neighborhoods of Boston to find local artistry, food trucks and antiques are part of the charm of this neighborhood. Available on site car detailing, apartment cleaning, dry cleaning and grocery delivery are just a few of the luxury amenities offered to residents. A skyline pool and outdoor entertainment lounge are located on this block.

To learn more about living at Ink Block or finding your home in the South End, email us at contact@advisorsliving.com.

Real Estate Along the Boston Marathon Route

Boston Copley Square

The third Monday of April is nearing which means the world’s oldest annual marathon is just around the corner. The Boston Marathon, one of the world’s best-known road racing events, takes place on Patriots Day. The event has been in existence since 1897, and this year marks the 120th race. For those new to the Boston area, the 120th Boston Marathon will be held on Monday, April 18th and will begin a little before 9:00am. The historic course starts on Main Street in the rural New England town of Hopkinton and runs through numerous other towns ultimately ending on bustling Boylston Street near the John Hancock Tower in Copley Square (and right by the Advisors Living headquarters!)

Along the marathon course, rowdy fans and elite runners have the chance to take in the new and under construction development projects that are coming to fruition. Ashland Woods, located at 277 West Union Street in Ashland, MA is the first development site near the marathon. Access to the race cannot get simpler if you live in the new 60-unit apartment complex developed by Trask. Ashland Woods is in the Highway Commerce Zone and includes two 32,000-square-foot buildings both holding 30 units.

From Ashland the runner will travel next into Framingham where Brendon Homes is quickly selling through the new construction development with detached, single-family style condos as well as attached homes. They also offer a single level living plan (ideal to go home to after a long run); so there is truly something for everyone. They have sold over 80 homes in the last year with Phase 1 completely sold out and Phase II nearing 80%. Phase III won’t be far behind.

On to Natick from there, home to one of the more unique properties on the route, Nouvelle at Natick. These luxury condos are attached to the Natick Mall and provide both luxury and convenience to its homeowners. This community sold out back in 2012 but re-sales do pop up now and then so keep an eye out!

The next of many miles lead runners through the beautiful homes of Wellesley, Newton and Brookline. These are some of the most affluent suburbs that Massachusetts has to offer. Spectators young and old line the streets in front of spectacular, single family homes and wonderful brownstones depending on what part of the course they are on. Brookline is also home to the Longwood Medical Area where Mosaic on the Riverway is being constructed. This 10-story building will have 42 luxury condos when complete later this summer. They are nearing 75% sold but there are great 1 and 2 bedroom options still remaining.

The home stretch will of course lead runners into the heart of the city. Veteran runners who ran last year will probably notice even more high-rise buildings like Millennium Tower and One Dalton or even 22 Liberty in the Seaport. All of these buildings have been rapidly growing into the Boston skyline.

If you’re looking for real estate along the Boston Marathon route, there are plenty of options and quite the variety. Prices will range in any of these towns but if you are looking to save a few dollars, you should run outside of the city, not in it!

View luxury condominium and apartment listings with Advisors Living. Email us at contact@advisorsliving.com.