Tag Archives: Back Bay

New Rental Listings in Boston’s Back Bay, Beacon Hill, and Leather District

Spring has sprung and the warmer weather brings with it new rental listings!

In Back Bay, located at 41 Commonwealth Avenue #3 is a lofted one bed with high ceilings and a fireplace featuring period details. If this sounds familiar it may be because The Matthew and Alisa Group listed the condo for sale earlier this year. The building has common laundry and private storage deeded to the unit. Available for rent May 1st for $2600.

Apartment for Rent at 41 Commonwealth Ave #3

In Beacon Hill, located on the 3rd floor of Anderson Street at the corner of Phillips Street is a beautiful 1 bedroom plus study. This unique layout has windows facing north and south, a spacious kitchen, and generous bedroom. The building has common laundry and a common roof deck.  Available for rent June 1st for $2400.

Apartment for Rent at 27 Anderson St #6

In the Leather District, 181 Essex Street offers a beautiful new construction one bedroom in a professionally managed elevator building. Every room gets incredible afternoon light. The kitchen offers gas cooking, granite counter tops, and stainless steel appliances. Laundry is in unit and private storage is included in the building. Pets are possible with references. Available for rent June 1st for $2900.

Apartment for Rent at 181 Essex Street #405

If you have any questions or would like schedule a private showing, contact Alisa Peterson at alisa.peterson@sothebysrealty.com or 617-997-2414. If none of these are quite what you are looking for you can search apartments for rent in Boston on our site. Or contact us as we may have other options for you.

Posted in Apartments, Boston Property, Condo, Rental Property, Where to Live | Tagged , , , , , , , , , | Leave a comment

Boston Real Estate Sales Market: Why Now is a Good Time to Sell

Boston’s population is the highest it’s been since the 1970s, up to over 625,000 people. With cranes as far as the eye can see, new developments are going up in areas considered in the past to be tired or rundown. However, buildings are not going up as fast as the demands call for it.

Buyers are chomping at the bit to enjoy the lifestyle that comes with city living offered in the downtown neighborhoods of Boston. Convenience of shops and restaurants, little to no need for cars, and the vibrant energy of the city are appealing to young professionals, empty nesters, and young families. More people prefer the location and lifestyle that comes with living in a condo over square footage and a yard that comes with a single family home. The demand is high, inventory remains low, and people are ready, willing, and able to pay what the market demands. The competition between investors and home buyers is stiff. Investors are fully aware rentals are in as much high demand as condos, so they are not concerned with the investment potential associated with rental property.

Boston city living is in high demandOver the weekend Matthew Gaskill and Alisa Peterson hosted an open house at their listing 41 Commonwealth Ave #3. A beautiful lofted one bed on the second block of Commonwealth Ave in Boston’s Back Bay neighborhood priced at $489,000. The open house was from 11:30am-1pm, in the hour and a half the door was open, over 50 groups came through. The buyers ranged from first-time homebuyers, empty nesters, and investors. And as a result the property was under agreement Monday evening after receiving multiple offers.

This is not a rare occurrence and it is fantastic for sellers. The high demand is driving up prices and lowering the days a property is on the market. More properties are coming on the sales market, however,  and well-priced properties are going under agreement after the first open house. Why wait until next year to sell? We know today’s buyers have the strongest buying power in years. Inventory remains low. Low inventory means low competition which equals the highest price possible.

Posted in Boston Property, Condo, First Home, Investment Property, Real Estate Sales Market, Sell property | Tagged , , , , , , , , , , , | Leave a comment

Exclusive New Listing: 41 Commonwealth Avenue #3

Matthew Gaskill and Alisa Peterson have listed a new Back Bay condo. This parlor level property is located on the beautiful and historic Commonwealth Avenue, known as Comm Ave to the locals, a street designed after Parisian boulevards with its wide swath of tree-lined park running down the middle. 41 Commonwealth Avenue #3 is located on the sunny side of Comm Ave, which affords it ample Southern light throughout the day. Located on the second block of Comm Ave, between Berkeley and Clarendon, 41 Comm Ave is only one block from Boston’s Public Garden and one block from the shops of Boston’s famed Newbury Street.

41 Commonwealth Avenue was built around 1869, one of four adjoining houses (41, 43, 45, and 47 Commonwealth) built at the same time for banker, real estate investor, and lumber merchant Elijah Chesley Drew and his wife Hannah. The Drews made their home in 41 Commonwealth Avenue and sold the three remaining homes.

41 Comm Ave #3 Back Bay condo for saleThis lofted one bedroom condo features soaring 13 foot ceilings, parquet hardwood floors, and period details that include crown molding, wainscoting, and a fireplace with matching mirror above the mantle. The living space is large enough to live and entertain with areas for a sitting area, work station, and a full dining table. The kitchen is fully appointed with stainless steel appliances and a dishwasher. The building features free laundry facilities and a deeded storage area for the exclusive use of the owner of unit #3.

41 Comm Ave #3 would make a great home for a first-time homebuyer, as well as a pied-à-terre or an investment property. The current owners lived in the property until last year when their family expanded and have rented the property for $2600 per month for the last year. At the current rental price, the property offers a healthy positive cash flow as well as the promise of steady appreciation rate in a prime location within Boston’s Back Bay neighborhood. With rental prices steadily increasing, the return on your investment will increase in both cash flow and appreciation over time.

With the location on Boston’s best street, owners and tenants alike enjoy all Boston has to offer. The offices of Back Bay are a short walk away while downtown is accessed via a short train ride. When work is over for the day, 41 Comm Ave #3 offers proximity to the Esplanade for a bike ride or jog before heading out for shopping or to one of the eateries along Newbury Street.

The 724 square foot condo at 41 Commonwealth Avenue #3 is being offered at $489,000.

First showings will take place Sunday March 3rd from 11:30-1. Offers, if any, will be reviewed after the open house. Please contact us with and and all questions or to schedule a private showing.

Posted in Alisa Peterson, Boston Property, Condo, Investment Property, Matthew Gaskill, Property for Sale, Rental Property | Tagged , , , , , , , , , , , | Leave a comment

What Does $500K Buy in Back Bay?

I have given examples about what you can buy for $1 million in Back Bay and for $2.5 million in Back Bay in the current real estate sales market, but what about $500,000? In an neighborhood with grand mansions, renovated condos, and luxury high rises, can $500,000 go very far? Let’s find out.

According to MLS, over the last 6 months 30 condos have sold between $450K – $550K. The average sold price per square foot was $728, the average days on market was 59, and the average sold price was $499,728. The condos range from renovated one beds in traditional brownstones to luxury studios in high-rise full-service buildings. All of which make for an ideal pied-à-terre or investment property.

351 Beacon Street #6

This bright 680 square foot 1 bed 1 bath condo featured a renovated kitchen and bath. Located on the corner of Fairfield Street at Beacon Street, this condo was listed for $493,000 and had an accepted offer after 8 days on the market for the full asking price.

351 Beacon Street #6 - Coldwell Banker Residential Brokerage

351 Beacon Street #6 – Coldwell Banker Residential Brokerage

 

326 Dartmouth Street #2

Located on Dartmouth Street near Marlborough Street, this renovated 741 square foot lofted 1 bed condo is something special. Featuring high ceilings and classic details but with a modern kitchen and bath. The condo was listed for $524,000 and sold for $517,000 after 143 days on the market.

326 Dartmouth Street #2 - Paragon Properties

326 Dartmouth Street #2 – Paragon Properties

 

110 Stuart Street #26I

The Residences at the W feature high-end finishes in every unit and luxury services. Located on Stuart Street, this 512 square foot new-construction studio features incredible views from the 26th floor. Listed for $550,000, it sold in 2 days for $525,000.

110 Stuart Street - Otis & Ahearn

110 Stuart Street – Otis & Ahearn

 

113 Marlborough Street #7

Located on one of the most desired locations in Back Bay, this 779 square foot 1 bed 1bath condo features incredible light and plenty of storage. Listed for $525,000, it had an accepted offer after 5 days on the market, and sold for $550,000.

133 Marlborough Street #7 - Gibson Sotheby's International Realty

133 Marlborough Street #7 – Gibson Sotheby’s International Realty

 

Search here to see what is for sale between $450-$550K in Back Bay, but with the way the market is behaving, what you see now, may not be available tomorrow.

Posted in Boston Property, Buy Property, Condo, Investment Property, Luxury Building, Real Estate Sales Market, Real Estate Transactions | Tagged , , , , , , , , , , , , | Leave a comment

What Does $2.5 Million Buy in Back Bay?

We already know what you can buy with $1 million in Back Bay but how much does the inventory change at $2.5 million?

According to MLS for the last 6 months, 22 condos and 1 single family home sold between $2 million and $3 million in the Back Bay neighborhood. The average sale price was $2,379,136 with the average sale price per foot was $1042.

Commonwealth Avenue

Listed for $2,395,000, this incredible 3 bedroom duplex on historic Commonwealth Avenue sold in 25 days for $2,323,000. The 2275 sq ft condo featured 2.5 bathrooms, a beautiful terrace, a garage parking space, and central heat/ air conditioning.

247 Commonwealth Avenue - Coldwell Banker Residential Brokerage

247 Commonwealth Avenue #A – Coldwell Banker Residential Brokerage

 

Boylston Street

The Mandarin Oriental Boston offers the highest level of luxury which shows in every detail of their condos. This 1,953 square foot 2 bedroom and 2.5 bathroom on the 11th floor was listed for $2,895,000 sold for $2,550,000 and included parking. As is common in the Mandarin Oriental, the condo sold for a premium price per square foot, $1305 per square foot in the case of this 11th floor condo.

776 Boylston Street - Hammond Residential

776 Boylston Street E11E – Hammond Residential

 

Beacon Street

This 3,100 square foot 4 bedroom 4 bathroom was listed for $2,699,000 and sold in 20 days for $2,550,000. This property featured single level living, direct elevator access, 2 parking spaces and much more square footage that one would normally find in this price range in Back Bay because it was a co-op building instead of a condo building. This buyer bought shares in the building, not the actually space, which is more common in New York City than it is in Boston.

282 Beacon Street - Campion and Company

282 Beacon Street #2 – Campion and Company

 

Newbury Street

When most people think of Newbury Street, they conjure up images of high end shopping, funky boutiques, relaxing salons, and the much deserved frozen yogurt break. Not many would think that hidden behind one of the many brownstones, there was a stylish modern penthouse that featured 2124 square feet of living space, 3 bedrooms, 3 bathrooms, and 3 parkings spaces. Listed at $2,859,000 this condo with private deck with grill and hot tub, sold for $2,800,000.

294 Newbury Street - Warren Residential Group

294 Newbury Street PH – Warren Residential Group

 

Marlborough Street

Even though the single family home was an anomaly in this price range in Back Bay, it is worth mentioning. On the market for a total of 1502 days! Originally listed in April of 2007 for $3,899,000 this 4,440 square foot 5 bedroom plus study with 3.5 bathrooms sold this past June for $2,774,500 after finally being reduced to $2,895,000. It may have taken awhile but it just shows that the economy is coming back up and people are investing in high end real estate.

434 Marlborough Street - Boston Realty Advisors

434 Marlborough Street – Boston Realty Advisors

 

The market for luxury real estate in Boston’s premier locations continues to produce sales. If you are in the market to buy property in Back Bay, please contact us for more information.

Schedule a consultation with a Realtor

Posted in Boston Property, Buy Property, Real Estate Sales Market, Real Estate Transactions | Tagged , , , , , , , , , , , , , | Leave a comment

Exclusive New Listing: 141 Arlington Street #4 in Bay Village

Alisa Peterson and I are proud to announce our new listing at 141 Arlington Street #4, a condo in Bay Village, the neighborhood between the South End and Back Bay. This property and its ideal location would make a perfect fit for a first home, an investment property, or a pied-à-terre. The home is a turnkey possibility as the owner will consider selling as a furnished condo.

141 Arlington Street condo for saleThe sunny one bedroom condo in Bay Village was gut renovated in 2003 when the building was converted to condos. And 141 Arlington Street #4 was built to maximize space. The condo is west facing with unblocked afternoon light through three large windows. Hardwood floors are found throughout the condo and ample storage exists in both the closet and cabinetry. The building features professional management, common laundry, and extra storage private to the unit.

As far as an investment property the condo offers both a cap rate over 5% and a positive cash flow. Combined with an area with impressive historical appreciation rates, 141 Arlington Street #4 is positioned as a excellent investment property.

The Bay Village neighborhood is a convenient location with access to public transportation options such as the Green Line at Arlington Station and the Commuter and Orange Lines at Back Bay Station. Entrance and exit ramps to I-93 and the Mass Pike (I-90) are also nearby. And it is an easy walk to Back Bay, the South End, the Theater District, and Midtown, and Beacon Hill.

Contact us with any questions or to schedule a showing of the condo at 141 Arlington Street #4. Or click below to subscribe to our newsletter for email alerts of new listings.

Subscribe to our real estate newsletters

Posted in Boston Property, Condo, First Home, Investment Property, Property for Sale, Rental Property | Tagged , , , , , , , , , , , , , | Leave a comment

What Can You Buy for $1 Million in Back Bay?

News outlets have been promoting how the housing crisis is in recovery and that the low mortgage rates make now a great time to buy! This may be true but what do you get for your money in today’s sales market in Boston?

Depending on the type of lifestyle you want, one of the downtown neighborhood in Boston can accommodate. This blog will focus on the Back Bay neighborhood and Back Bay condos.

What does $1 million buy you in Back Bay?

If we go by the data, $1 million can get a beautiful condo in Back Bay. I did a search of sold listings between $800,000 and $1.2 million in Back Bay. Over the last 6 months there have be 56 sold condos in Back Bay with an average sale price of $953,039 and the average price per square foot is $758.

One of the best things about buying a condo in Back Bay is that you don’t have to choose between lifestyle and location. Whether you want a luxury high rise or a historic brownstone, there are available condos in Back Bay.

Marlborough St

Penthouse living on Sunny Marlborough Street, this 1050 square foot 2 bed 2 bath renovated condo with parking and roof rights sold at the beginning of summer for the asking price of $999,000 after being listed for only 1 day. This condo in Back Bay offered high ceilings, an open layout, and top of the line kitchen with Viking Stove and granite countertops. The fireplace warms this condo into a home on the quietest residential street in Back Bay.

Condo in Back Bay on 299 Marlborough Street

299 Marlborough Street – Thread Real Estate

 

Commonwealth Ave

Located on one of the most historic streets in Boston, this 1300 square foot 2bed 1.5bath renovated condo in a brownstone with parking sold this summer for $1,000,000. Built in 1890, this sunny third floor condo offered high ceilings with classic crown molding, a bay window, and 2 fireplaces. Renovated to modern tastes, this condo in Back Bay also has central air conditioning, a chef’s kitchen with stainless steel appliances, and laundry in unit. This condo sold in 6 days!

Condo in Back Bay on 286 Commonwealth Avenue

286 Commonwealth Avenue – Warren Residential Group, LLC

 

Beacon St

Just a block from the Charles River, this 1797 square foot 2 bed 2.5 bath renovated duplex with parking and private patio sold for $1,080,000. This condo has a everything to call it home. From the classic features of hardwood floors, bay windows, 2 fireplaces to modern conveniences of laundry in-unit, central heating and air conditioning, granite countertops, stainless steel appliances, and walk-in closets. This condo in Back Bay was sold in just over 2 weeks for 98% of asking price.

Condo in Back Bay on 369 Beacon Street

369 Beacon Street – Realty Development Services

 

Newbury St

If you are not interested in a traditional brownstone, Back Bay also offers incredible options for modern luxury living. On Newbury Street, this 1330 square foot 2 bed 2 bath corner unit with garage parking and a concierge sold this spring for $1,130,000. Enjoy the 6th floor views of Back Bay from the floor-to-ceiling windows and want for nothing with Back Bay at your fingertips.

Condo in Back Bay on 360 Newbury Street

360 Newbury Street – Otis & Ahearn

 

Search condos in Back Bay for $800,000 to $1,200,000. To see Back Bay condos in person, contact the Realtors of Matthew and Alisa Group.

Subscribe to our real estate newsletters

Posted in Boston Property, Buy Property, Condo, Real Estate Sales Market, Real Estate Transactions | Tagged , , , , , , , , , | 2 Comments

Train with a View: Things to Do in Boston

When thinking of public transportation, the mind can flash to long delays, loud crowds, tight crammed spaces, uncomfortable heat, and odd smells, nothing really to look forward to doing. However there is one small trip on the T that features Boston unlike anywhere else.

Between the Charles/MGH T stop in Beacon Hill and the Kendall Square/MIT T stop in Cambridge, the red line goes above ground and travels over the Longfellow Bridge. If you get on the T at Charles/ MGH and travel west toward Kendall Square/MIT and face south, you will see an incredible view of Boston’s Back Bay with the Charles River simmering before it.

Viking Ship with Boston and Cambridge seals on Longfellow BridgeThe Longfellow Bridge, also known as the Salt and Pepper Shaker Bridge because the of the shape of the towers in the center of the bridge, was constructed in 1900 and connects Boston and Cambridge. The Longfellow Bridge’s design was influenced by the designs of famous bridges in Europe. The towers not only have the seals of Boston and Cambridge, they also have decorative motifs of Viking ships that reference the voyage of the famous historical figure, Leif Eriksson, up the Charles River during the 1st century AD. Along with the red line, cars on Route 3 drive across, pedestrians can go for a stroll on it, and the bridge even has bike lanes. Because you don’t have to watch where you are going while on the train, the smooth and graceful ride on the T is where you can really enjoy the unobstructed view of Boston’s skyline.

Boston has many different things to do and a less than a minute trip on the T is usually not something to go out of your way for, but in this case it is. Any time of year and any time of day it is worth the trip for the view.

Subscribe to our real estate blog via RSS or email

Posted in Things to Do in Boston | Tagged , , , , , , , , , , , | Leave a comment

Investment Property: Where to Start

Buying Investment PropertyOne of the biggest misconceptions I’ve heard from clients who are interested in buying investment property, is they are going to make livable income from their investment right away. More people have the desire to take advantage of the low mortgage rates and feel buying investment property is a safer investment than buying stocks. This is can be true, however, investing in real estate should be thought of as a long term commitment and must be done wisely.

Depending on what type of property you invest in you may be able to start a steady cash flow, but when you buy investment property, you should think of it as a way to build wealth not get rich quick.

If you buy an investment property in an established neighborhood, this would be considered a low risk investment. In Boston an example would be Back Bay or Beacon Hill. A possible drawback would be the prices would be higher to buy an investment property. However, the positive side is in Boston, where the rents are only going up, the tenant’s rent would cover most is not all of your operating costs, which include mortgage, condo fees, maintenance, and taxes. Little to nothing will be left over for shopping, but after your mortgage is paid off (by someone else), the investment property is now worth a lot more than you originally paid. The goal in these established areas is a safe investment with appreciation and key metric is appreciation rate.

If you buy an investment property in an area that doesn’t have the demand as the established neighborhoods, the risk is higher. In Boston an example could be areas of Roxbury or areas of Dorchester. The drawback would be that you wouldn’t be able to charge as high for rent but the buy in would be less and the money you do collect from rent would more than cover your mortgage and leave some extra cash on hand. Your investment property may not be worth much more than you paid for but the capital of your mortgage would be paid off quicker and you would be able to generate a profit quicker. The goal in riskier areas that do not offer the same appreciation rate as the most established areas is cash flow and the key metric in determining cash flow potential is cap rate (or capitalization rate if you aren’t into the whole brevity thing).

Buying either type of investment property should not be rushed into. Once you buy a property, you are still responsible for maintaining it. If your only experience with how to be a landlord comes from The Ropers on reruns of Three’s Company, we can help. For more information about buying investment property, contact the Realtors of Matthew and Alisa Group Real Estate.

Schedule a consultation with a Realtor

Posted in Buy Property, Investment Property, Real Estate Tips, Rental Property | Tagged , , , , , , , , , , , , | Leave a comment

Mapparium: A Jewel in Boston’s Back Bay

Faneuil Hall, Fenway Park, The Public Gardens, Museum of Fine Arts, The State House, etc… these are just some of the many highlights that Boston has to offer. But there are countless gems that may not show up in the guide books.

The Mary Baker Eddy Library and Church of Christ ScientistOne gem is hidden in The Mary Baker Eddy Library at The Christian Science Plaza in Boston’s Back Bay neighborhood. Built in 1935 to celebrate the success of the Christian Science Monitor is the Mapparium. The Mapparium is a 3 story stained glass globe with a 30ft glass bridge connecting the ends of the world as it was in 1935.

The architect was Chester Lindsay Churchill and his inspiration came from the spinning globe inside the lobby of the New York Daily News building. There are 608 glass panels held in a bronze frame and it took over a year to build. Over the first four months of its debut in June 1935, over 50,000 people came to visit. People were able to see the world in a new way and make connections they never could before. For example, most of the world’s land masses are above the equator or the magnetic North Pole and the actual North Pole are not the same thing or in the same place.

The most amazing feature of this structure even took it’s designers by surprise. Because the entire globe is curved glass and glass does not absorb sound, the acoustics inside the globe create magic. If a person stands in the center of the globe and speaks, their voice is heard in surround sound. If two people stand at either end of the bridge and whispers to the other, they will hear it as if it was being whispered directly in their ear.

Churchill knew the world would be changing with the talk of war and he designed the Mapparium in panels so changing his glass globe would be possible. However, after committee discussions in 1939, 1958, and 1966 it was decided that the cost to create and change the panels was too great and the Mapparium held more value as a world frozen in time.

In 1998, the Mapparium was shut down for a 4 year renovation. When it opened again in 2002, a new sound and light show was added to illustrate how much the world has changed from 1935.

The Mapparium is open Tuesday-Sunday from 10am-4pm and located at 200 Massachusetts Ave. Visit their website for more information about the Mapparium and The Mary Baker Eddy Library. Be aware that photography inside the Mapparium is not allowed.

Subscribe to our real estate blog via RSS or email

Posted in Things to Do in Boston | Tagged , , , , | Leave a comment