boston luxury condominiums

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.

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.

One Bromfield Tower in Downtown Could Rise Above Millennium

One Bromfield downtown

New York-based Midwood Management Corporation proposed a 419-unit residential tower in Downtown Boston to join the Millennium Tower.

This is not the first time Midwood Management has looked into developing a tower at One Bromfield. In 2008, they proposed a similar project for this space. However, the recession halted that development. This time Midwood has sought the help of architects Adrian Smith and Gordon Gill to design the structure and is looking to add a few more levels, rivaling the height of its would-be close neighbor, the Millennium Tower.

The Boston Business Journal reported, One Bromfield tower could see 30,000 square feet of ground floor retail space, 300 rental units and 119 condominium units. The project is also proposed to include 235 parking spaces and 429 bike parking spaces.

Midwood Management is still working on the early stages of the proposal and is expected to file a draft project impact report within a week

The proposal for the new project would sit taller than the Millennium Tower located just across from One Bromfield.

High-rise buildings are cropping up all over Boston. Back Bay’s One Dalton is on pace to be the third tallest building in Boston, and the site of the Winthrop Square Garage could also see some lift. Curbed put together a list of the sky-high projects you should be watching that could change the Boston skyline by 2020.

One Dalton Stands Tall Among Luxury Residences

one dalton

One Dalton rendering by Pei Cobb Freed & Partners

Situated in Boston’s Back Bay, the development of One Dalton, according to Boston Magazine, is poised to be the tallest residential building in Boston. At 61 stories, One Dalton will elevate the Back Bay skyline with development to be completed by 2018.

Managing the building will be the hotel company, the Four Seasons. The number of residential towers managed by Four Seasons is a rarity, occurring only in London, New York and Shanghai. Now, Boston will join that trio. The developer on the project, Richard Friedman of Carpenter & Company, is a well-recognized luxury developer in the Boston area. His work can be found in luxury sites like the Liberty Hotel and Charles Hotel. Working with Friedman are Architect Henry Cobb and interior designer Thierry Despont. Bostonians recognize Henry Cobb’s work for his designs of the John Hancock Tower, Boston’s tallest skyscraper.

Like the design of the John Hancock tower, One Dalton will be a towering glass structure with floor-to-ceiling windows and 360-degree views of the Boston skyline in one of Boston’s most popular neighborhoods. The curved front of the building will complement the existing neighborhood paths and lead to the entrance of the Four Seasons Hotel that will sit on its lower levels with 184 luxury condominium units above it.

Thierry Despont will design the interior of One Dalton. Like that of Friedman and Cobb, Despont is also well versed in the luxury market, having worked on projects such as London’s Claridge’s hotels and the Ritz Paris.

One Dalton will feature luxury amenities such as a private restaurant on the 50th floor, a private theater, spa, golf simulation room and health club. A 24-hour valet, laundry services and housekeeping add to the five star amenities.

Boston is taking luxury to new heights with Millennium Tower being constructed in Downtown and Twenty Two Liberty rising in the Seaport. Friedman says Boston is ready for such luxury residences. Soon Back Bay will add to this changing landscape becoming home to the tallest luxury residence that will form the Boston skyline.

Learn more about One Dalton or other luxury condominiums in the Back Bay area email us at contact@advisorsliving.com.

The International Film Festival Returns to Boston April 14th

Downtown Boston

The Boston International Film Festival (Boston IFF) has been one of Boston’s most prominent annual attractions for more than a decade. This April will mark the 14th year of the event and the people of Boston could not be more excited. This rich, cultural experience is unique to the downtown area and provides entertainment for movie critics and fans alike.

The Boston International Film Festival was created to celebrate the art of filmmaking and to honor the people behind the scenes. The festival is dedicated to rewarding artists for their individual talents and for their creative expressions. The Boston IFF unites local, national and international filmmakers and supports the work of worldwide independent filmmakers. The 5-day festival will begin on Thursday, April 14th and end on Monday, April 18th. The screenings provide a once-in-a-lifetime opportunity for audience members to engage in dialogue with the filmmakers, and for the filmmakers to receive honest feedback from their audiences.

There are over 100 screenings and live events scheduled throughout the festival, and will be held across three major locations in Downtown Boston, including the AMC Loews Theatre located at 175 Tremont Street, The Paramount Theatre located at 559 Washington Street, and the BPE Studio located at 9A Hamilton Place. Opening night will feature a Red Carpet event starting at 6:00pm followed by a movie screening from 7:00pm-9:00pm. Residents and future residents of the downtown area should strongly consider attending this vibrant event.

The cost of attendance depends on the experience you are looking to have. With that said, none of the experiences will break the bank. For those only looking for a night of fun you can purchase a screening pass for $45.00 and enjoy the screenings of that specific day. The second option is an All Screening pass, which is $75 and lasts throughout the festival, providing admittance to all screenings. Last, but not least, is the All access VIP Pass that cost $250.00 and they allow you to meet the stars and filmmakers, go to each of the parties, and see any of the films. Regardless of the option you choose, you are in for a great atmosphere filled with talented people and thought-provoking films. Attractions like this are just another great perk of living in and around the city of Boston.

Interested in luxury condos and apartments in the downtown Boston neighborhood? Email us at contact@advisorsliving.com to learn more about current availabilities.