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Kate Tucker

Upcoming Open Houses in Boston

Upcoming Open Houses in Boston

Here is our full list of OPEN HOUSES this weekend in Boston! Browse all of Boston's upcoming open houses or browse by neighborhood...

Contact us at info@ElevatedBoston.com or 617-701-6300 to schedule a meet up at any of these properties. ?

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    Upcoming Open Houses

    Upcoming Open Houses in Boston

    Here is our full list of OPEN HOUSES this weekend in Boston! Browse all of Boston's upcoming open houses or browse by neighborhood...

    Contact us at info@ElevatedBoston.com or 617-701-6300 to schedule a meet up at any of these properties. ?

      Comments

      1. No comments. Be the first to comment.

      Somerville Tightens the Leash on Condo Conversion Laws

      Somerville Tightens the Leash on Condo Conversion Laws

      Somerville’s Condominium Review Board will now be enforcing a law requiring a year’s notice to tenants before converting property to condos. Attorneys and developers say this will delay their ability to develop and puts too much responsibility on them to make sure tenants aren’t being ousted by property owners eager to sell, with one prominent attorney telling the board the local law could violate state law.

      To convert a building to condominiums and remove rental units from the market, a property owner has to submit an application to the Condo Review Board. City law requires applicants to submit a master deed – the document outlining condo rules and property breakdowns -- that has been filed with the state registry of deeds to the board. But before the owner submits the master deed to the review board, city law requires him to give a year’s notice to tenants in the building, or two years notice for tenants who are elderly or disabled.

      City housing director Michael Feloney said the board would “refine” its practices after a neighbor of a proposed condo conversion complained that the required year notice was never given.

      At the board’s April meeting, assistant city solicitor David Shapiro said the existing law was “defendable” and needed to be enforced. Applicants who have previously been approved will be grandfathered in, but pending applicants will have to send notice to all tenants or previous tenants over the past year for their consent, or make a good faith effort to find previous tenants. And all applicants after April will be required to provide a year’s notice before board approval.

      Attorney Richard DiGirolamo protested the law, saying it violated provisions barring rent control and overly regulated a form of property ownership. DiGirolamo frequently represents people looking to convert condos and owns property in Somerville. “A condominium is nothing more than a form of ownership, I can choose to own a condo, a three-family house or a 12-unit building and there’s nothing Somerville can do about it,” DiGirolamo told the board. “This is not the path you want to go down, it violates every law on the books.”

      And Digirolamo and other attorneys at the meeting pushed back specifically on providing a year’s notice for converting vacant buildings. Bob said the board will require applicants attempting to convert a vacant property to give notice for a year while making a “good faith” effort to find the previous tenants to see if they had been improperly evicted. If the tenants can’t be found, applicants would sign an affidavit saying so.

      Charlestown real estate attorney Tony Troiano said the requirement was an “undue burden” for people buying property they intend to convert to condos, and most sellers would likely refuse to pass on tenant information. Bob said asking a seller would constitute that good faith effort even if the query was met with refusal.

      With tenants coming forward saying they have been offered money by a person buying her building to leave in order for the building to be vacant for condos Niedergang said he thought the stricter enforcement of the law was reasonable, and did not think it violated any rent control provisions. But there would be a difficult period of transition because of the lack of enforcement in the past, he said.

      But the city needs to do a better job of enforcing development regulations in general, he said. While people following condo review procedure now have more regulations to contend with, people violating the laws will still continue to violate them.

      Niedergang said he was open to changing the requirement of a year’s notice for converting vacant properties, but that should come with a complete overhaul of condo law. Officials created a task force to examine revising the law in 2007 but no changes were made.

      “If one year is too much, let’s discuss it and change it,” Niedergang told the Journal. “Let’s hear what developers and attorneys have to say rather than just enforcing something that’s 30 years old. That to me is the only real solution, otherwise we’ll just be struggling indefinitely.”

      What are your thoughts on the new enforcement?

      Somerville tightens enforcement of condo conversions (WickedLocal)

       

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        Downtown Crossing's Newest Tower: One Bromfield

        One Bromfield Downtown Boston

        Developer's proposed One Bromfield, a 59-story tower in Boston's Downtown Crossing would exceed the height of Millennium Tower Boston, which set a record in the district. 

        New York-based developer Midwood Investment & Development bought the parcels in the mid-2000s and set about with plans to construct a 28-story building with around 260 apartments and several floors of retail. The project was originially proposed in 2008 but the recession made quick work of the those plans. Midwood held on to the parcels and has resurrected plans for a mixed-use high-rise. It's new proposal calls for a building much greater in scale than original plans with about 30,000 square feet of ground-floor retail space, with 300 rental units above and 119 condominium units. Of the 300 rental units, 54 would be designated affordable. The tower is slated to include 235 parking spaces and 420 bike parking spaces.

        If approved, this would make One Bromfield one of the five tallest buildings in Boston. Stay tuned!

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          PRICED OUT? Why Living in a Luxury Apartment Building Might be Cheaper Than You Think

          AVA Theater District Downtown Boston Apartments

          Lately, Boston renters have been talking about the massive increase in rents over the past two years, specifically in full-service luxury buildings. This is understandable considering the eye-popping price tags in some of Boston’s newer buildings where 1-bedroom units can fetch upwards of $3,000/month and 2 bedrooms often exceed $4,000/month. If you happen to be one of the few people who wants a 3 bedroom…let’s just say you might have to double down on your student loans to afford it.

          However, like watching coverage of the current presidential election, don’t always believe what you see.  According to The Boston Globe, the vacancy rate in Boston apartment buildings remained above 5% for the fourth straight quarter.  There are a couple of reasons for this.  The first is that more than 3,800 apartments opened in Boston in 2015, which eased the growing tension between the increasing population of renters and decreasing Boston inventory.  The second is that many tenants who once lived in Boston have been priced out of newer buildings and have moved to cheaper rental markets outside of the city.  

          What happens when vacancy rates increase?  Developers are forced to adjust pricing and increase tenant incentives in order to keep occupancy above 95%.  With 5,000 more apartments permitted for construction in 2016, tenant incentives should run rampant through Boston’s new developments.  What does this mean for you? For starters it could mean one or more months in free rent, garage parking included and no broker’s fee.  One example is Fuse Cambridge, which is offering 1.5 months in free rent and paying broker’s fees for tenants. Another is at the brand new Ava Theater District, which is offering two months free rent on 2 bedroom units and up to two months free on studio and 1-bedroom units, as well as paying full fee to brokers.  There are also various buildings in Downtown Boston and the Back Bay that are not new construction but are still offering multiple months in free rent to new tenants.  

          In a nutshell, if a 1-bedroom in a new construction luxury apartment building is $3,000/month and you get two months free, that’s $6,000 off throughout the course of the year or $500/month less than the sticker price of the apartment.  If you factor in not having to pay a broker’s fee, (most buildings pay your broker for you), that is an additional $3,000 off, or $250/month in savings.  When it’s all said and done, you could have that brand new 1-bedroom in a luxury apartment building for $2,250/month! Considering the average rent in Boston is around $2,100 per month, this is a relative steal in the grand scheme of the Boston rental market.  So ignore the hype and rent the apartment of your dreams, it could be more attainable than you think!


          Check out the full list of luxury rentals here and contact Elevated Realty at info@ElevatedBoston.com with questions or to set up showings!         

           

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            WHY BUY NEW? BENEFITS OF BUYING NEW CONSTRUCTION

            Boston is in the midst of a high-rise condo development boom, and everyone wants a piece of the action. Buildings such as Millennium Tower and Twenty Two Liberty are selling completely off-market, prior to opening, at staggering rates. Boston’s high-end housing market is so hot these days even brand new condos that haven’t been lived in yet are being flipped for big profits.

            That’s what happened at Twenty Two Liberty, a new glass-walled condo building on Fan Pier with views of the Boston harbor and the downtown skyline. Six of the 118 units were sold by their original buyers before the building even opened at the start of this year — each one for at least $500,000 above the original price. Five more units are currently listed for sale. 22 Liberty hit the market just as demand for the upper end of the luxury market was surging, and there was little competition. Millennium Tower Boston is already 95% pre-sold out in less than 18 months, including the penthouse, which is currently under agreement, and the tower is still six months from final completion.

            The median price for condos in nine downtown neighborhoods, South Boston, and Charlestown jumped nearly 10 percent from 2014 levels, to $680,000. Prices for luxury condos — buildings with concierge service and parking — climbed at double that rate, to a median of $1.75 million. That translates into nearly $1,200 per square foot. And four in 10 condos sold above asking price.

            Developers are gradually shifting to meet that market, planning more condos after a several-year run of building apartments all over town. In the first nine months of 2015, according to city figures, 28 percent of new housing permitted in Boston was for-sale condos, up from 26 percent in 2014 and 17 percent in 2013. In the three months ending Sept. 31, more than 40 percent of permitted units were condos.

            Are you looking to Buy a Boston Condo? Create an account today to get access to thousands of listings!

             

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              BRA board approves $259 million in new projects at March meeting

              The Boston Redevelopment Authority’s board of directors approved seven new projects at this month's meeting. In total, the projects represent a combined investment of $258.5 million and will generate over 530 construction jobs, yielding 586 new residential units in the city.

              Below are summaries of the newly approved projects.

               

              Garrison Trotter Phase II

              Address: 89 Waumbeck Street
              Neighborhood: Roxbury
              Land Sq. Feet: 44,000 sq ft
              Building Size: 34,000 sq ft
              Uses: Residential
              Residential Units: 15

              The sites will be developed as part of Mayor Walsh’s Neighborhood Homes Initiative (NHI), a product of Housing A Changing City: Boston 2030, the Walsh administration’s comprehensive housing plan. NHI uses City-owned land and funding as a resource to create affordable and mixed-income homeownership opportunities for a range of homebuyers. In turn, this project will feature 18 residential units, 12 of which will be designated as affordable.

              Upon completion, the new homes will be priced to attract a mix of moderate, middle and market rate buyers. Prices for the new affordable homes will range from $250,000 - $400,000 and will be affordable to households with a combined income of $60,000 - $100,000. The affordable moderate and middle-income homes will have a 50-year resale restriction to provide affordability for future generations of homebuyers.

               

              232 Old Colony Avenue

              232-Old-Colony-3-17-16.jpg

              Address: 232 Old Colony Avenue
              Neighborhood: South Boston
              Land Sq. Feet: 9,383 sq ft
              Building Size: 37,384 sq ft
              Uses: Ownership / Residential / Retail


              This project site is located approximately five blocks northeast of Andrew Square, within walking distance of the MBTA Red Line Andrew Station. The developer, 232 Old Colony Avenue LP, has proposed to construct 24 condominium units and 3 on-site affordable units, commercial/retail restaurant space and 29 parking spaces.

              The project will include a mix of 16 two-bedroom units and eight one-bedroom units within a 5-story structure. A 2,855 square foot restaurant space will also be included on the ground floor.

               

              Goddard House Jamaica Plain

              Address: 201 South Huntington Avenue
              Neighborhood: Jamaica Plain
              Land Sq. Feet: 84,626 sq ft
              Building Size: 169,000 sq ft

              The BRA Board’s approval will allow the 167-unit project to move forward as planned. Of the 167 residential units, 110 will be located in the renovated Goddard House with 57 units in the new building and 22 of the total units on-site will be designated affordable.

              In addition to the renovation of Goddard House and the construction of a new building, this project will include 180 spaces allotted toward indoor and outdoor bicycle parking, a combination of covered and surface vehicle parking to the tune of 83 spaces, and open space improvements that will include a landscape buffer in front of the building with new street trees to improve the pedestrian realm.

               

              35 South Huntington Avenue

              Neighborhood: Mission Hill
              Land Sq. Feet: 12,000 sq ft
              Building Size: 45,500 sq ft
              Uses: Residential

              Walter Huntington, LLC received approval for the development of a new five- and six-story mixed-use building located at 35 South Huntington Avenue. The building will be comprised of 38 residential units with 5 IDP units, 7,080 square feet of ground-floor commercial/ retail restaurant space, and 26 parking spaces located in the building’s underground garage.

               

              Guest Street Brighton

              125-Guest-3-17-16.jpg

              Address: 125 Guest Street
              Neighborhood: Brighton
              Land Sq. Feet: 81,665 sq ft
              Building Size: 311,000 sq ft
              Uses: Rental / Residential / Retail

              The approval of this primarily residential building will yield the construction of 295 rental units, 38 of which will be on-site IDP units. In order to meet a variety of market demands, 125 Guest Street will feature studio, one-, two-, and three-bedroom units. This phase of the project will also include 155 parking spaces and 300 bicycle spaces dedicated to residents.
              The ground-floor of the building will provide 16,000 square feet of retail space, while the remaining area of approximately 39,000 square feet will be residential amenity spaces, such as a building lobby, mail room, fitness room, conference room, loading dock, mechanical, vehicle, and bike parking.
               

              Douglass Park South End

              Address: 150 Camden St
              Neighborhood: Roxbury
              Land Sq. Feet: 15,500 sq ft
              Building Size: 49,305 sq ft
              Uses: Rental / Residential

              The Board’s approval of the Amended and Restated Development Plan for the Douglass Park expansion project will result in 44 multifamily residential rental units with 8 IDP units. The project site, located at 150 Camden Street in the South End, is on a portion of Parcel 16.

              During the public testimony portion of the hearing, one community-member noted that in its earliest stages, the project was met with skepticism, but as it has moved forward, residents and stakeholders have come to embrace the opportunities that this development will bring to their neighborhood.

               

              Harvard University Life Lab- Second Ammendment

              Neighborhood: Allston
              Land Sq. Feet: 93,794 sq ft
              Building Size: 14,750 sq ft
              Uses: Education / OtherResearch


              The Board’s approval of the Second Amendment to the IMP for Harvard University’s Allston campus, includes the construction of this Harvard Life Lab. The Life Lab represents a new, but temporary two-story building that will provide both wet lab and co-working space for small Harvard-related scientific start-ups. In addition, the Life Lab will include general and dedicated lab spaces for up to 50 individuals, including a faculty member-in-residence, conference and support spaces to promote wet lab community connections. This project, which is considered a pilot by the university, aims to build on the success of the adjacent Harvard Innovation Lab.

               

               

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                FREE energy, save money, live cheaper!

                Free energy save money live cheaper

                 

                Free Energy Audit

                Hiring an auditor to do a simple checkup of your home helps determine where you might be losing energy -- and money -- and how to correct it. Many utility companies offer this service for free

                Ceilings Fans

                Ceiling fans are a low-energy way to keep air moving in your home. Because of the air circulation effect, you can get away with keeping your thermostat a degree or two higher in summer and a degree or two lower in winter, netting a rather large savings.  The most important thing to know is that the air directly below the fan should be blowing down on you in the summer and should be pulled upwards away from you in the winter. 

                Energy Efficient Appliances

                Choose these even if you have to pay more up front.
                Unless you were lucky enough to buy a fully-furnished home, you'll likely have to do some appliance shopping.  Focus on reliability and energy efficiency above all, even if that seriously increases the cost you have to pay up front. A refrigerator that uses little energy and lasts 20 years is far, far cheaper over the long run than a fridge that runs for seven years and guzzles electricity.

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                  A New Age for an Old Town

                  a new age for an old town

                  Big Changes Coming to Boston's Skyline

                  There are currently about 70 projects under construction throughout the city, according to the Boston Redevelopment Authority. About 68% of those projects are residential. As BRA Director Brian Golden said: “We’re going through what is arguably the biggest building boom in the history of the city of Boston.”

                  Amongst this boom, we are seeing the number of high rise towers increase. They’ll be rising downtown, on the waterfront and at the edge of the Back Bay. Several could rival the height of the John Hancock or Prudential building. They’ll contain plenty of office space, but also residences, hotels, retail shops, and research labs. This once quaint little city is starting to catch up to the big boys.

                  If you are looking to buy a luxury condo in Boston, now is the time. Three years ago, the Millennium Place development was considered a litmus test for luxury condo construction. Would buyer's actually pay upwards of $1,500 per square foot to live downtown? Well the answer is, yes. Millennium Place sold out last March and their newest development, Millennium Tower,  arguably the most anticipated project in Boston, is already 80% sold, with a year to go before it's official opening.

                  This trend has no signs of stopping as international money continues to flood Boston. Total foreign investment in Boston’s commercial properties more than doubled to $10.4 billion through last September, up from $4.7 billion during the same period in 2013. The surge put Boston sixth in the world in the amount of money it attracted from foreign sources, behind only London, New York, Tokyo, Paris, and Los Angeles, according to Jones Lang LaSalle Inc., a real estate services firm. 

                  The Boston skyline as we know it, will continue to be redefined as these projects, and new ones, break ground.


                  Take a peek at some of the newest projects in the works:

                  Millennium Tower
                  Downtown

                  Millennium Tower Boston, at 685 feet, is the tallest residential building in downtown Boston. A shimmering glass sculpture in the sky, it boasts unrivaled views never before seen from a private residence. It is the most anticipated residential project in modern Boston history. The city’s first "neighborhood in the clouds."

                  Millennium Tower will consist of 450 luxury residences, ranging from 1 to 4-bedroom, and 95,000 square feet of additional retail space on its lower floors. The 56-story glass tower will also include an underground parking garage. Millennium Tower has already sold 80% so now is the time to buy!


                  Tallest residential building in Boston, the Millennium Tower


                  Pier 4 Residences
                  Seaport

                  Surrounded by water on three sides, the collection of boutique residences at PIER 4 will have lush public spaces, convenient retails and dining options, luxury amenities and sustainably designed living spaces. Find your perfect retreat in Boston Harbor’s most aspirational new community. The building will be nine stories and 118 feet high; there will be 16,800 square feet of ground-floor retail and a two-level underground parking garage.

                  Pier 4 Condos located in Boston's Seaport


                  The Lucas
                  South End

                  The Lucas at 136 Shawmut Ave, is an exciting, new construction condo building in Boston's South End. The project will transform the former 1874 German Trinity Catholic Church into a boutique, eight story condo building with 33 luxury residences and 30 parking spaces. Condos will feature contemporary, modern, luxury custom kitchens, high-end finishes, gas fireplaces, and high-tech smart home systems. Building amenities include a concierge, gym, lounge, garage parking and common courtyard.

                  South End Condo Development 136 Shawmut Ave


                  Forecaster 121

                  Faneuil Hall

                  Forecaster 121 is a boutique style condominium building combining modern finishes and amenities with the historic architecture of the original Forecaster Raincoat of Boston warehouse. Each of the 80 distinct condos will delight you with their understated elegance, high-style finishes, and unique character details.  Intriguing design features such as exposed brick walls, tall ceilings, Juliette balconies, private terraces, sun atria, and loft-style elements will satisfy your desire to live in a home that’s truly unique. These new residences feature 24-hour concierge and 24-hour valet services, a fitness room, a meeting room, and best of all; a location at the intersection of everything.

                  Forecaster 121 Condos in Boston's Faneuil Hall

                  Are you looking to buy? Create an account today to get access to thousands of listings!

                  View All of Boston's Newest Developments

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                    Sellers Beware!

                    Sellers Beware

                    Yes, we are brokers. So, why are we warning you against us, you ask? Well, the real estate industry can get a bad rap, so we're here to protect it, and you.

                    Over-Promising and Under-Delivering
                    The advertising industry is flooded with ways to trick consumers into buying products or services. Real Estate is no stranger to this concept. There is no end to the claims that realtors make to prospective clients to win their business.

                    The most common lie is p
                    romising to sell your home for a higher price than it's worth. As brokers, we understand this is a double edged sword. If the agent's numbers are too low, they have no chance of being hired, but agents tend to get carried away with trying to please these prospective clients. Over-listing your property from the get-go can do some serious damage, and all of a sudden your property has been sitting on the market for 100 days with no real interest. Inevitably, you will make price-drops and anyone interested will most likely come in with an even lower offer. 

                    If the agent disagrees with your price, they should let you know (politely of course) and with some real knowledge as to why. This way, you have realistic expectations going into it.

                    Agent's should be confident in their strategy to sell your house. S
                    tatistics actually show that listing a property below value actually creates a positive impact on the sales price! The best broker you can get, is one that under-promises and over-delivers.

                    Beware of What You Sign
                    Many sellers get roped into signing an ERS (Exclusive Right to Sell) before providing support for the services they are offering. If the agent or broker is not performing to your standards, it is very difficult to get out of an ERS, once signed.

                    In most cases, our brokerage waits to have clients sign an ERS until we have shown our dedication, by providing strong marketing, quality leads and showings. Once we feel our clients our confident in our ability to sell their property, we then look to get an ERS signed.

                    Always thoroughly read through the entire contract, they can sometimes be too broad in scope. Make sure the contract includes the commission, duration, duties and a dispute resolution.

                    Overall, make sure the agent you hire is one that you can trust and have confidence in. We are here to help you, not hurt you.

                     

                    Are you looking to sell? Contact Us today!

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                      174 Dorchester St. Boston, MA 02127
                      info@elevatedboston.com Phone: 617-701-6300