Have you been searching for a fantastic brownstone condo on a great street in Back Bay, but haven’t been able to find what you’re looking for? It seems every time you go looking the home lacks something. It could be the AC or maybe it’s parking, maybe it’s got loads of space but needs to be totally renovated? All of these are typical issues buyers run into when trying to find that perfect brownstone condo, but that’s all about to change. If you’ve been looking for a brownstone condo in brand new condition with parking allow me to introduce you to the residences at 45 Commonwealth Ave.
45 Commonwealth Ave Kitchen
The residences at 45 Commonwealth Ave were created by combining two buildings at 45-47 Commonwealth Ave into 5 spectacular residences. These 3 bedroom homes have everything you could desire in Back Bay brownstone condo. Brand new utilities means you get all the charm that comes with a brownstone without all the headaches. Each unit comes with 2 garage parking spaces and has direct elevator access. The kitchens all feature top of the line appliances and custom cabinets along with a great open concept layout right into the family room.
45 Commonwealth Ave Living/Dining Room
The large Living room and dining room area both feature stunning views out on to Commonwealth Ave. For those familiar with the neighborhood the views of the mall trees lit up during the holidays will be spectacular from here. The second floor unit even features a balcony off the front. In addition the expansive space pictured above there is a study off the space for those that want to create another media room or simply want to add a library as a place to get away from it all.
45 Commonwealth Ave Master Bath Tub
45 Commonwealth Ave Master Shower
The master bath of each residence is a work of art. Each contains a stately jacuzzi tub surrounded in stunning Italian Marble and perhaps the most exquisite 4 headed shower you’ve ever experienced. The electronically controlled system features a rain shower head, regular shower head, as well as hand held unit and mist heads. This combined with the built in marble shower seat make this a great place to start or end your day. The double vanity means you never need to worry about not having enough space.
45 Commonwealth Ave Master Bedroom
The large master bedroom of each unit is bright and welcoming. Hardwood floors have been continued into the space so that it’s your to decorate any way you choose. The master closet space has been divided into his and hers closets with built in storage. The chandelier provides plenty of light provides a charm not found in modern buildings. The two additional bedrooms each have a private bath and walk in closet space.
If you are interested in scheduling a tour of these incredible units or simply learning more about what they have to offer, please give our office a call at 617-449-3642
Zillow used some of it’s vast amounts of neighborhood data to come with a list of great cities to trick to treat in and guess who made the list? Boston came in at number 8 on the list and Back Bay was one of the top 5 neighborhoods in the city to go hunting for candy. The top honor in the city of Boston went to Beacon Hill. The grading system used the neighborhood density and average price of homes to calculate which neighborhood is best for trick or treating. So what’s your vote, which neighborhood is best to go trick or treating in?
Many people have wondered what’s going into the former Joe’s American Bar and Grill, and though we have known Met Bar for a bit, we now have some photos. Met Bar a small chain started by Kathy Trustman, (who’s also responsible for Stephanie’s on Newbury) will be opening shortly in the former Joe’s space. The posters outside the building indicate that the food will be distinctly american but the interior decore suggests that it will be decidedly more upscale than Joe’s. The space has been divided into 4 dining areas from what we hear and will do it’s best to cater to all sorts of crowds. We certainly can’t wait for it to open and look forward to it!
Here’s a fun little post : Moving Tips from Budget!
This month’s market data shows a return to the spring market and an improvement over last year’s crazy decline. The improvements in every neighborhood are a positive sign for the market but it will be more interesting to see what happens with the full month of data.
Back Bay 2010
11 Condo’s sold
Avg. Sale Price: $2,680,013
Avg. Price/Ft: $909.43
Back Bay 2009
9 Condo’s Sold
Avg. Sale Price: $1,514,778
Avg. Price/Ft: $919.01
Beacon Hill 2010
3 Condo’s Sold
Avg. Sale Price: $793,333
Avg. Price/Ft: $758.40
Beacon Hill 2009
1 Condo’s Sold
Avg. Sale Price: $637,500
Avg. Price/Ft: $671.05
South End 2010
13 Condo’s Sold
Avg. Sale Price: $604,962
Avg. Price/ft: $623.8
South End 2009
7 Condo’s Sold
Avg. Sale Price: $563,286
Avg. Price/ft: $609.80
For those of you that are looking to rent an apartment in the 12 months hopefully you’ve read this article on boston.com or read it in the paper. The article goes on to describe a story that any broker who’s worked in the Boston rental market can tell you.
First, if you think you’re going to get a steal on a place because you’ve heard in the news rents are going down keep dreaming. The article in the paper wisely points out that a minimum you’ll pay for a unit in downtown is $1400. Is this a hard and fast rule, no are there places less than $1400 sure, but they are few and far between and they are smaller than some single dorm rooms. Despite some vacancies landlords are holding out for their price and not willing to compromise. In one case I heard a landlord tell someone about their offer “I’d rather use the unit for storage!”
Second, if you have a pet especially a dog or are a family with small children who need a lead-free apartment it’s a very small market. Rental brokers have been telling people for years that if you have a dog it’s a very small market, very few owners and buildings for that matter take dogs. Unfortunately there are double standards in some buildings which can confuse people even further. At the Ritz and One Charles, owners are allowed to have dogs but anyone renting one of the condos cannot. Renters with small children often find themselves in similar situations due to the fact that the buildings in Boston are so old and so few people have renovated to the standards necessary. This leaves this group with few options depending on what they are looking for and not something they are always pleased with.
Finally, yes the sad fact is that due to previous market conditions most private landlords don’t want to pay the broker’s fee, for the tenant. The market had previously been that people we’re willing to pay to get into that place they saw and loved, but that’s no longer the case. The apartments have gotten older in many cases and more are sitting empty; but few landlords are willing to break the psychological barrier of paying the brokers fee. This surely hurts some landlords as their properties sit vacant for months at a time and others are just dealing with it. There is no right or wrong decision on this one it’s all about what the market will decide and it’s something that both sides should be aware of.
The market data makes some interesting points this month. If you live in the Back Bay or South End, you’re seeing a sizable jump in the price/ft. but in Beacon Hill there was a large decrease. So if you were thinking about selling last year but were scared, don’t wait this one out because there are buyers out there and willing to pay more!
Back Bay 2010
3 Condo’s sold
Avg. Sale Price: $2,588,000
Avg. Price/Ft: $985.07
Back Bay 2009
5 Condo’s Sold
Avg. Sale Price: $1,345,900
Avg. Price/Ft: $836.83
Beacon Hill 2010
3 Condo’s Sold
Avg. Sale Price: $1,133,592
Avg. Price/Ft: $697.45
Beacon Hill 2009
3 Condo’s Sold
Avg. Sale Price: $3,483,333
Avg. Price/Ft: 1009.20
South End 2010
9 Condo’s Sold
Avg. Sale Price: $ $668,239
Avg. Price/ft: $618.63
South End 2009
7 Condo’s Sold
Avg. Sale Price: $564,143
Avg. Price/ft: $570.03
After doing some exhaustive research into what’s really happened to the Boston Condo Market for the past decade, we thought we’d release this little nugget of information for you. The best size condo to invest in from 2000-2009 in Back Bay was a studio. I know this probably catches quite a number of you off guard, with many thinking that buying a 1 bed would have been a good idea, but it was studios that gained the most value.
From 2000-2009 the price/sq.ft. for studio’s in Back Bay increased 87%! This was well above the next best investment, (1 beds) which came in at increase of 58%. The real loser so to speak for the decade was 3 beds or more which only increased 25% on price/sq. ft. basis.
The market data speaks for itself here. Condos in Boston’s top neighborhoods are moving and they are moving for more than last year. If you were thinking about selling last year but were scared, don’t wait this one out because there are buyers out there!
Back Bay 2010
15 Condo’s sold
Avg. Sale Price: $1,979,553
Avg. Price/Ft: $1137
Back Bay 2009
7 Condo’s Sold
Avg. Sale Price: $1,255,929
Avg. Price/Ft: $946
Beacon Hill 2010
4 Condo’s Sold
Avg. Sale Price: $453,000
Avg. Price/Ft: $694
Beacon Hill 2009
0 Condo’s Sold
South End 2010
12 Condo’s Sold
Avg. Sale Price: $542,042
Avg. Price/ft: $596
South End 2009
2 Condo’s Sold
Avg. Sale Price: $370,000
Avg. Price/ft: $523
There are only 51 days left until the First Time Home Buyer Tax Credit runs out. The extended tax credit deadline means you have to have your P&S signed by April 30th. So far out of top 7 Boston neighborhoods 190 condos have been sold under $500k (a typical threshold for first time buyers). If you’re interested in taking advantage of this tax credit before time runs call me this week to get started! 617-449-3642
Back Bay Condos, Boston Real Estate Market | Chris Dunn | 
October 27, 2010 3:54 pm | 
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