September
2010
Alterra at Overlook Ridge in Revere is becoming a popular place for young professionals and families to reside. Only 15 minutes from Downtown Boston, this is a great opportunity to avoid the hustle and bustle of the heart of the city and come home to a comfortable apartment with luxury finishes. Its a really nice and quaint community in Revere. I’m sure some of you cringe when you hear Revere, but these 700+ apartments are a great option to call home. Its convenience, pricing and charm make it a real good bid for potential renters. Here is a look at some of the deals going on right now…..To view available units in Alterra at Overlook Ridge please contact Epapa27@yahoo.com. Pictures to come soon….
Phase 1 – One month Net effective Fee
One Bedrooms from $1400
Two Bedrooms from $1737
18 Month lease terms
Includes DIRECTV/internet
Phase 2 – One month Net effective Fee
Studios from $1182
Two Bedrooms from $1675
18 Month lease Term
Utilities are separate throughout the property
Parking is $30 per uncovered space and $50 per covered space
September
2010
Karmaloop has taken over the 4th and 5th floors of 334 Boylston Street which stretches 15,700 sq. ft. They said this space “allowed for the preservation of their unique company culture and provided for future expansion.” They will close their office on Tremont Street and move in there this month. That’s a lot of space for them! I think it means they have some big plans for the future….
August
2010
The Boston Globe’s online site “boston.com” has just launched a free iPhone application dedicated to all the real estate interested “iPhoners”. This app will allow buyers to search for a home right from their phone. You’ll be able to view property details, photos and share homes with others. It’ll be a cool way to browse complete listings and search properties and their location thanks to their built in GPS system. With each listing it will have the contact info of each agent with their email and phone so that they’ll be able to schedule an appointment.
This app is very convenient, but I can’t tell if this will help agent by making their job easier, or hurt them and have it become almost like a craigslist where potential buyers/renters are calling and emailing hundreds of different agents and brokers. We’ll see! Northeast Development & Investment’s listings will be on there! Keep an eye out.
August
2010
Equity Residential has filed plans for new apartments yesterday, which would replace the five story Garden Garage that are home to 650 parking spots (the one with a big bubble on the top of it). This garage would be moved to an underground facility with an additional 200 spaces addded. Equity Residential are the same minds behind the very successful West End Apartments, which will be a stones throw from their new project. They’re reviewing all sorts of different scenarios and are going to get some input from bordering neighbors and the city to come to a compromise on height and design of the 3-acre site. Causeway Street, Nashua Street, Lomansey and other parts of the West End are undergoing a lot of change and development and I think its good for the area. The West End/Garden area needs some redesign and a new look. The Archstone Avenir is a beautiful building, but it sticks out like a sore thumb over there, I’m excited to get some more luxury/trendy residences in that same block, this area will be devoured with luxury residential buildings. We’ll keep you posted on this project.
August
2010
Big time developer Don Chiofaro is willing to come to a happy medium with Boston officials regarding the size of his proposed waterfront complex. The city of Boston has put in 200 foot height restriction on the property. Don has made a public statement saying that he is willing to dropping the height of the originally planned 625 foot structure, but he is also confident that 200 feet will certainley not work. The restriction is put into place so that the shadows from the buildings are not blocking access to the Boston Harbor. The city of Boston and Don both want the garage replaced but they will need to continue to compromise in order for it to happen. Don Chiofaro is going to issue an updated plan for the garage within the next couple weeks. He is going to address and rethink some of the city’s issues. We’ll be sure to keep you updated!
August
2010
Holliday Fenoglio Fowler has arranged a $26M refinancing for the 132 unit, multi-housing property called Landmark Square in Fenway. Landmark Square is located at 75 Peterborough Street, the 7 story project with one, two and three bedroom units was completed in 2000. Right now they’re currently 96% leased and it parks 89 cars underground. It is a great area for luxury living!
August
2010
Developers from Samuels & Associates has plans for Fenway, including apartments, underground parking and retail/office space. The developers have filed a letter of intent to the Bostong Redevelopment Authority for its new plans for two mixed use buildings. These buildings would be replacing a parking lot and the old Goodyear tire shop on Brookline Avenue. 132 Brookline Avenue would be a 170 unit luxury apartment high rise with retail space on the first floor. A street over on the corner of Boylston and Van Ness would be the other building with another 150 luxury rentals with 200,000 sq. ft. available for retail space and 225,000 sq. ft. of office space. There will be room for 500 underground parking spots for both buildings. This company owns 11 buildings in this ara including Trilogy and 1330 Boylston, both luxury apartment buildings that opening in 2008. This is all part of their plan to bring a Newbury Street feel to the Fenway area. They want to push pedestrain friendly retail and luxury living over the next few years! I think its a great idea, both 1330 and Trilogy are great buildings that are doing very well. For more information please contact Epapa27@yahoo.com
August
2010
Deval Patrick has made a decision that is allowing the Boston Parks and Recreation Commission to convert two historic restroom buildings into commercial and restaurant space. One of the locations is the Duck House in the Back Bay Fens and the other one is in the Boston Common called the Pink Palace. Its definitely a good idea to provide Boston residents and visitors with a good restaurant in a park setting. New York City has done this with Tavern on the Green in Central Park and it was a total success. Ken Oringer is extrememly interested in the available space and I think with his great background in opening successful classy restaurants that it will be a homerun. Only problem I can foresee is the fact that Mayor Menino is extremely opposed to allowing liquour licenses on the Common. We’ll see what ends up happening!
August
2010
July
2010
Developed in 2006 by The Fallon Company, The Park Lane luxury apartment complex is now on the block! One Park Lane is home to 465 beautiful apartments, with a common roof deck that is a brilliant feature during the warm weather. Both MassMutual’s Cornerstone Real Estate & Fallon Co. have decided to sell it in a bid to tap an investment sales market. Insiders are reporting that this sale could lead to a feeding frenzy on institutional investors. The property was assessed at $91M, but has a $110M mortgage that matures in 2011. Theres no doubt in my mind that this will sell for a huge number. We will keep you updated….