Boston Open Houses 1.15.2012

January 13th, 2012

Click here to search for and print just the open houses you want. Lots of open houses this Sunday! New union park bostonproperties are entering the market, so have a look. Please feel free to get in touch with any questions or showing requests at 617 584 9790. You can also click here to get in touch.

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Handling Home Inspection Issues

January 13th, 2012

In his excellent blog, real estate attorney Richard Vetstein discusses what is required in terms of disclosure to the buyer about anyBoston Home Inspectionproblems that a particular property may have. Massachusetts is a “caveat emptor” state…meaning that as a buyer, you and your agent have to be aggressive in asking questions of the seller or his/her agent. Has the basement ever flooded? Have there been any problems with the roof? Does the seller know of any special assessments coming up? While the seller has no obligations to disclose (that’s why we have inspectors and attorneys), he/she can be held liable and subject to lawsuit for lying. Read Richard’s informative blog post:

“As always, I’m going to focus on the legal aspects of the home inspection as it impacts the overall transaction.

The home inspection is one of the most critical aspects of every Massachusetts real estate transaction. Virtually every buyer in a standard purchase transaction (meaning not a short sale, foreclosure, or bank-owned property) will opt to perform a home inspection, and for good reason. You need to know whether there are any serious structural, mechanical or other defective conditions in the home before you close.
As always, I’m going to focus on the legal aspects of the home inspection as it impacts the overall transaction.”

Read the whole article here. If you have any questions, or would like any assistance purchasing or selling real estate, please call me at 617-584-9790, or click here.

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Boston Open Houses 1.8.2011

January 6th, 2012

You can search for and print just the open houses you want. It may not feel like it, but the spring market starts now! New union park bostonproperties are entering the market, so have a look. Please feel free to get in touch with any questions or showing requests at 617 584 9790. You can also click here to get in touch.

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2012 A Banner Year For Seaport/Innovation District

January 6th, 2012

Boston’s Seaport District, largely dominated now by parking lots,  is getting ready for substantial new development this year. Boston's Seaport/Innovation DistrictAlthough over 90 businesses have moved there over the past two years, according to The Boston Globe’s Casey Ross, there is little activity after 5PM. The balancing act that is involved in starting up this new neighborhood is getting lots of new residents and the services that will both attract and support them. Supermarkets and other retail services for the neighborhood are largely in the discussion phase right now.

For details, read the story by Casey Ross of the Boston Globe, below.

“Developers are proposing to start construction on more than 1,700 apartments in coming months, hoping to replace some of the area’s vast parking lots with sleek glass buildings that will lure more residents, retailers, and shoppers.
The projects range from a pair of towers across from the federal courthouse, to a 21-story apartment and retail building at Pier 4, to a 197-unit apartment complex on D Street next to the Boston Convention & Exhibition Center.
Together, those and many other developments promise to provide what the waterfront lacks: sustained activity on streets that currently empty out after 5 p.m., when thousands of office workers head home for the night.
“It’s incredibly important to get residences down there,’’ said Ed Nardi, a principal of Cresset Development, which is proposing to build the 197-unit complex on D Street. He said he hopes the project will “add a 24-7 element to the area’’ and give more reasons for retailers and growing companies to move there.
The waterfront, branded the Innovation District by Boston Mayor Thomas M. Menino, has already proved successful at attracting new companies. By the city’s count, more than 90 businesses have moved there during the past two years, helping to spur construction of new complexes like Liberty Wharf (also by Cresset Development) and Joseph Fallon’s 23-acre Fan Pier project.
But the district remains in the early stages of its redevelopment, with much of its landscape still fenced-off industrial yards and massive parking lots. In many places it still feels desolate and windswept, with few walking connections among its restaurants, attractions, and scattered public parks.
The upcoming apartment projects will fill in some of that empty space and begin to generate around-the-clock activity, but real estate specialists said it’s an open question whether people will move to the area en masse if it doesn’t have basic retail options such as a supermarket.
“It will be interesting to see at what point people start to look around and say, ‘We need the rest of the neighborhood to catch up before we move in,’ ’’ said Greg Vasil, chief executive of the Greater Boston Real Estate Board. “They may decide to wait because the other amenities are not there yet.’’
Many of the proposed projects would address that shortcoming by incorporating new retail stores and restaurants into their buildings. At Seaport Square, developer John B. Hynes, has talked of opening a cinema complex as part of a multistory retail base that would also include other retail shops, restaurants, and possibly a supermarket.
Waterside Place developer John Drew has said his 19-story building, located on Congress Street in the heart of the district, will include retail space in the first phase and may include a large retail store or food market in later stages of work. And the 21-story tower at Pier 4 is also expected to contain new restaurants at the base of the building.
Developers and city officials are also hoping the waterfront projects will create a new model for residential development in the city by incorporating smaller, less expensive units that will be more affordable for young researchers and technology workers moving into the area.
Some of the units being planned on the waterfront are as small as 375 square feet, barely enough room for a galley kitchen, bathroom, and living/bedroom. Rents are expected to range between $1,200 and $1,500 per unit, depending on the building.
Joel Bargmann, an architect working on several residential projects in the area including 63 Melcher, said he has designed units under 500 square feet that could house two people, either a couple or roommates. He said he is also working on one- and two-bedroom units in other buildings that could house empty nesters or a young couple.
“What I sense developers trying to do is create more of a mixed neighborhood,’’ said Bargmann, principal of the firm Bargmann Hendrie + Archetype Inc. “It’s not only [housing] opportunities for first-time workers, but older people as well.’’
Dozens of the smaller units are expected to be built during the first wave of apartment construction on the waterfront in the next several months. City officials are also pushing housing developers to include offices in their buildings for start-up firms and other entrepreneurial ventures interested in moving to the area. Such spaces are included in Waterside Place, Seaport Square, and 411 D Street.”

For help with all of your real estate needs, please call me, Joe Wolvek, Associate Director of Sales  at Gibson Sotheby’s International Realty at 617 584 9790, or click here to contact me.

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Low Condo Inventory in Boston’s South End

January 3rd, 2012

According to Pinergy, Boston’s main MLS service, supply of condos in the South End has reached an 11 year low. As of December 31, South End Boston condo inventory2011, condo inventory stood at 85. As of today, January 3, 2012, it stands at 87. The last time inventory dropped below 100 was the beginning of January 2001 (99 according to LINK).

Additional inventory will be entering the market as we move into the new year. I expect that supply levels will be relatively tight to moderate this year, but we shall see….

For more details on the South End real estate market, please click here.

If you have questions, or if you’d like help in purchasing or selling real estate in Boston, please call me at 617 584 9790 or click here.

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Boston Open Houses 12.18.2011

December 16th, 2011

You can search for and print just the open houses you want. This Sunday is the last open house day ’til after New Year’s. Please feel free to get in touch with any questions or showing south end open housesrequests at 617 584 9790. You can also click here to get in touch.

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Copley Tower Developer Adds Additional Affordable Units

December 16th, 2011

Copley Place TowerSimon Properties, the developer of the controversial new tower at Copley Place has agreed to place all of the required affordable residential units inside the project itself. Originally, they were planning on putting only 10 affordable units at Copley and placing the rest in smaller projects throughout the Back Bay and South End.

From Casey Ross of the Boston Globe:

“The developer of a 47-story residential tower at Copley Place will dramatically increase the number of affordable units in the building following a long and at times, contentious negotiation with neighbors and Boston regulators, according to a letter released by the city today.

Simon Property Group will build all 48 of its required affordable units on the site of the massive project, dropping a prior plan to include only 10 such apartments in the tower and build the rest in the South End or Back Bay.

The tower, to rise above the existing Neiman Marcus store at the corner of Dartmouth and Stuart streets, will be the tallest residential building in the city. It is planned to include hundreds of condominiums, an expansion of the Neiman Marcus store, and other shops and restaurants.

The announcement of the additional affordable units was made by the city through a brief letter to members of a citizens committee that had reviewed the project.

The letter, signed by Lauren Shurtleff of the BRA said, “We wanted to pass along the news that in response to Mayor Menino and the BRA’s request to have more of the affordable housing created as part of the project on-site, Simon Property Group has announced that they have modified their proposal to build all of the 48 units on-site, as rental units.”

The letter did not indicate how that change will affect the total number of units in the tower — which was permitted for a mix of 318 condominiums and apartments — or how many of the affordable units will be studios versus one- or two-bedrooms.

Simon Property Group could not be immediately reached for comment.”

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South End 2 Bedroom Penthouse, Parking, Roofdeck $609,900

December 2nd, 2011

529 Columbus Ave. #25 open Sunday12.4.2011 from 12 to 1:30. This tastefully renovated 2 bed PH Duplex in elevator south End 2 bedroom penthouse parkingbuilding offers a generous private walk-out roofdeck with smashing city views and a direct-access-via-elevator parking space! W/D hookup! Kitchen offers Shaker cherry cabinets, granite counters, stainless appliances and ample room for a table. Sun-filled living area has custom built-in shelves / video center. Hardwood floors. Recessed lighting. Two spacious bedrooms w/ custom closets. Granite & cherry bath. Unfortunately, no dogs. Cats OK.

Click here for more info, pix, video. Click here or call Joe Wolvek at 617 584 9790 for private viewings.

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Boston Open Houses 12.4.2011

December 2nd, 2011

You can search for and print just the open houses you want. Please feel free to get in touch with any questions or showing south end open housesrequests at 617 584 9790. You can also click here to get in touch.

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New Residential Project Boosts Boston’s Innovation/Seaport District

December 2nd, 2011

319 A Street BostonAt the same meeting in which the Boston Redevelopment Authority approved the new 47 Story Copley Place tower, they also gave the green light to the new 20 story residential rental building at 319 A Street in the Fort Point area of the Seaport/Innovation district. This is the first new large project in that area since the Channel Center in 2004.  And this is bigger.

From the Boston Globe:

“The Boston Redevelopment Authority has approved a 20-story rental development at the 319 A St. Rear in South Boston. The $100 million project will raze the current five-story warehouse and replace it with a 20-story 257,000 square-foot residential structure.

Developers, Archon Group and Gerding Edlen Development, had originally proposed a 21-story structure with 184 units and four stories devoted to parking.

Earlier this month Kelly Saito, president of Gerding Edlen, told Boston.com that the floor was removed to allow the group to add higher ceilings to make the apartments more attractive to customers, but the height of the building would remain the same.”

From Curbed.Boston:

“The structure will now hold 202 residential units, including 22 affordable units, and 96 parking spaces.

Units will range from studios, one-bedrooms and two-bedrooms.

Archon Group and Gerding Edlen Development will create 27 so-called innovation units at 63 Melcher St. The units will include flexible layouts and share a common area.

The developers will also add five affordable artist live/work spaces and six market-rate residences on the top floor.

The two projects are estimated by the BRA to create 150 — 200 construction jobs and 20 permanent jobs.

319 A Street Rear development. That project, in the city’s nearly two-year-old Innovation District along the burgeoning South Boston waterfront, is big-time in so many ways. Let’s count a few:

· The developer is the Archon Group, an affiliate of executive training program Goldman Sachs.
· At 20 stories over 257,000 square feet, it will be the tallest building in Southie’s Fort Point Channel area.
· Archon has brought in Portland, Ore.-based development firm Gerding Edlen Cos. as the builder; they have promised an airy work-live design that will be familiar to viewers of any romantic comedy over the last 20 years.
· The 202-unit project is a linchpin for said Innovation District, itself a linchpin of the Menino administration’s economic development plans….”

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