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Boston is an excellent market to own income generating investment units. Housing demand has been outpacing available supply, due to strong population growth, real estate prices continue to rise steadily into 2019. Moreover, Boston is an international education and medical hub, which year after year draws high rental demand. A personal favorite—the Fenway area is an excellent place to own an investment unit due to its prime location, booming new development, and high rental demand.

Location

Fenway is located between Back Bay and Brookline. In some parts, there is only a one-block difference to Back Bay, with Massachusetts Avenue setting the dividing line. Yet, Fenway typically trades at a significant discount to Back Bay, which is arguably the best and most expensive real estate in Boston. According to Trulia, the average price per square foot in Fenway as of April 2019 is $1,083 per square foot, a 29% increase from last year’s average of $851 per square foot. The Pierce Tower, was sold between $1,500-$2,000 per square foot, is the main reason why the average number in Fenway rose so dramatically this past year. There are great deals to be found in Fenway.

Fenway is a small area, however, it has a lot of great things happening besides being home to the beloved Boston Red Sox. Fenway is also home to Boston Symphony Hall, the Museum of Fine Arts, the Huntington Theater, the Isabella Stewart Gardner Museum, and the New England Conservatory. Popular commercial hubs and destinations for both locals and tourists to enjoy great restaurants, bars and music venues are in Kenmore Square, on Landsdowne Street, Brookline Avenue and Boylston Street.

Fenway is also home to numerous academic institutions: which include Emmanuel, Simmons, and Wheelock Colleges, as well as MassArt, Wentworth Institution of Technology, Massachusetts College of Pharmacy, Northeastern and Boston University. The area also hosts several renowned medical institutions, including Fenway Community Health Center and the nearby hospitals in the Longwood Medical Area such as Dana Farber, Brigham and Women’s Hospital and Boston Children’s Hospital.

Massive New Development 

Over the past few years, the Fenway area has undergone massive new development and experienced rapid change. The area along Boylston Street next to Fenway Park has seen extensive new development. Most notably, the Pierce Tower, which is both high-end condos and rentals. The Virdian, the Harlo and several others are new high-end residential buildings which were built within the last few years along Boylston Street. As a result of these new construction buildings, Fenway has transformed and is now booming with restaurants and thousands of new residents.

In-line with all of this new construction, several older buildings in the area are also set to undergo renovations and quality development. Most notably, the Fenway Center will be a large $600 million project, consisting of five mixed-use buildings. Also, the Landmark center is also currently going through a massive renovation, which will add 550 units, 110,000 square feet of retail and a giant Wegmans grocery store. In addition, the new Four Seasons Tower, which is going up on the Back Bay/Fenway border, is now the crème de le crème of the Boston market. Adjacent to this is the newly built 30 Dalton, one of the most high-end rental buildings in all of Boston. While these two buildings are on the Back Bay side of the border, they will improve values in both areas.

High Rental Demand 

The most important thing in an investment property is not having vacancy and Fenway is a highly desired area. At this location, you will always have HIGH DEMAND for rentals from:

  • Working professionals: Back Bay is home to numerous companies and office towers, and Fenway is within walking distance. It’s a high demand area for local working professionals.
  • Undergraduate and Graduate Students: Northeastern, Berkelee College of Music, Wentworth, Emmanuel College, Simmons and Boston University are all within walking distance. Since there is a lack of campus housing, a large amount of students seek off-campus rentals.
  • Medical professionals and longer-term hospital patients: Boston Medical Center and the Longwood hospitals are nearby (Beth Israel, Brigham and Women’s, Children’s Hospital etc.). Medical professionals prefer to live near work, due to their long hours (especially residents in training). Out of state hospital patients who come to Boston for medical care require rental housing as well.

Fenway has it all for an investment unit—high growth, great location, and strong rental demand. There are a number of great new development projects and existing properties in Fenway to explore for investment opportunities.

Call Jon Kumin at 617.794.4045 or contact Jon here to discuss more details or help identifying great investment opportunities.

The post Fenway: Prime Location for Boston Investment Properties appeared first on Charlesgate Realty.

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This spacious 3 level townhouse is conveniently located a half mile from the Broadway T station, as well as many great restaurants and shops. The first floor features a sunny living room and updated kitchen with a large deck off of the dining room. Head downstairs to discover a laundry room as well as an open entertaining space and full bathroom with a private entrance. Upstairs has 3 bedrooms and features a luxurious spa-like remodeled bathroom with steam shower, multiple shower heads and a rainfall showerhead. This property has the feel of a single family home with only a 2 unit association.

  • 2 Parking Spaces
  • Large Deck
  • Laundry Room
  • Rainfall Shower Head
  • Steam Shower
  • Hardwood Floors
  • Laundry Room

South Boston is a highly sought after neighborhood of Boston located south of Downtown. The area is known for its diverse residents and unique properties. Booming development and investment in South Boston has brought along a wealth of top-notch restaurants, local bars, and shops. This home is conveniently located near the Broadway T stop (Red Line) and has 2 parking spaces so you can explore all the area has to offer.

Exclusively listed by Adam Shore of Charlesgate Realty Group.  or call him at 561.329.0618

The post Just Listed! Spacious 3 Bed Townhouse in South Boston with Parking appeared first on Charlesgate Realty.

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The post Cutlip Test appeared first on Charlesgate Realty.

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Boston luxury sales show no signs of slow down.

In terms of Sales Volume, 2018 was the Boston and Realtor Denver Market’s strongest year ever in the luxury end of the market, with 1341 single families and condos priced over $1M trading for a total of nearly $2.7B in sales volume.

Over the next few weeks, I’ll be diving into more details of the Boston luxury market to ask a few key questions:

  • Are we at the peak?
  • If not, how high can prices go from here?
  • Which neighborhoods have the most potential for luxury growth?
The most expensive properties sold in Boston since 2014.

In the meantime, here’s a sample. Click the map below to access an interactive map of the most expensive sales in Boston since 2014 (single families and condo sales over $2M).

Here are a few fun facts:

  • 1622 properties sold for over $2M in Boston in the past 5 years (more than double 753 sold in the 5 years prior). Tweet This!
  • Total value of properties sold for over $2M in the past 5 years: $10,269,401,768
  • Neighborhood with the most $2M+ sales in the past 5 years: Back Bay (519)
  • Average sale price per square foot for $2M+ sales in 2018: $1584 (compared to $1313 in 2014)
  • Average number of bedrooms in the $2M+ homes sold: 2.6 bedrooms
  • Average number of bathrooms in the $2M+ homes sold:
  • Largest home sold: 12,333 sf (also most expensive home ever sold in Boston for a cool $35M…)

The post MAP OF ALL BOSTON REAL ESTATE LUXURY SALES OVER $2M appeared first on Charlesgate Realty.

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23 Short Street #3 Walpole, MA Just Listed by Matthew Giangregorio

Spacious suburban style living at a condo price! This home is very well laid out, on one single level, with no neighbors above or to either side.

Private, internal staircase leads to 2nd level, single floor living with a large open Living/ Dining area that is great for entertaining and leads to a separate Den with a pellet stove/fireplace.

Sliding doors open to a large private deck overlooking a huge common back yard. 

The home features an updated kitchen with stainless steel appliances and Granite Counters, 2 renovated bathrooms, a master suite, common front porch, great closet and storage space, laundry in unit, hardwood floors, nice natural light, skylights throughout, 2 deeded off-street parking spots, 2 energy efficient central heating/cooling zones, and an outdoor storage shed.

Home is turn key and ready for your personal touches in a quiet residential area that is walking distance to Bird Park, The Commuter Rail, and just a short drive to The Walpole Mall, Route 95, and Route 1.

***First open houses this weekend 3/23 11am-12:30pm & 3/24 12pm-1:30pm***

Visit 23short.charlesgaterealty.com to view the floor plan and more info!

The post [JUST LISTED] Single Family, Suburban-Style Living at a Condo Price in Walpole appeared first on Charlesgate Realty.

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Just listed by Adam Shore, this bright and spacious one bed one bath in amazing mid-Cambridge location is nestled between Harvard University and MIT. This professionally managed elevator building is conveniently situated steps from Whole Foods and many great local restaurants.

Walk into a large open living/dining room with kitchen off to the right and a large bedroom towards the rear of the condo. Laundry is common in building. Parking space in lot behind building with front and rear access to building interior.

Walking distance to Central Square, Harvard square and the T. Unit has tenant through June 30. First open houses this weekend Saturday and Sunday 11am-12:30!

Visit 269harvard.charlesgaterealty.com to learn more

The post Bright & Spacious Cambridge Condo JUST LISTED appeared first on Charlesgate Realty.

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Just listed by Todd Mikelonis and the Vineburgh DiMella Team, this dramatic penthouse is not to be missed.

Four bedroom plus den, three and a half bath with direct elevator access and parking. This professionally managed four unit corner building features three exposures from 20+ windows. Also featured are a gracious marble foyer, expansive living and dining rooms with gas fireplaces and a plethora of architectural details including crown moldings and hardwood floors throughout. The custom eat-in kitchen features custom cabinetry, stone counters, Sub-Zero over-sized refrigerator, Uline wine fridge, Viking double oven and a Dacor gas cook-top. The den comes with custom built-ins including surround sound home media system, epic private roof deck with amazing views of Back Bay, Downtown Boston and Charles River equipped with water spigot, electricity and gas on the deck for entertaining. Included with the unit are two parking spaces.

*Contact Todd to show*

Visit 321dartmouth.charlesgaterealty.com to learn more!

The post Dramatic Back Bay Penthouse Just Listed appeared first on Charlesgate Realty.

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One of our Senior Real Estate Agents Matthew Giangregorio recently met with Chris Devin of CrossCountry Mortgage for an interview on his popular podcast and web series, RE Talk Boston. They had some laughs, talked real estate and give you some solid information on interest rates and just how they’re affecting the health of the Boston Real Estate market. Read some key takeaways from Matt’s interview, and be sure to watch the full video at the end.

Matt’s thoughts on the “Softening” of the Market

Rising interest rates are top of mind for most buyers nowadays. As rates are increasing, we are inevitably seeing a parallel increase in rate-sensitivity among buyers. In his interview, Matt explains that the rate hikes we’re seeing are actually indicative of the market getting back to a healthy and/or normal state. “We’re seeing the market begin to stabilize, become a bit more healthy, and not so much a sellers market. I think the misconception is that the market is softening because there’s not 10 offers on a property. That’s not normal.”

He goes on to explain, “Rates since 1971 on a 30 year fixed residential mortgage, up until 2008, were between 6 and 18%. Right now we’re at 4.5%. I think people backing out of the market because of that(rate increase), is not a good idea.”

Are mortgage rates impacted by the Fed interest rate?

Another common misbelief regarding mortgage interest rates is that they are drastically impacted by the Fed interest rates. Matt debunks this by stating, “Mortgage interest rates are not tied to fed interest rate. Mortgage rates are not at the 52 week high right now. The 52 week high was 5%, we’re at 4.5 today, even though Fed interest rates were raised last month. So, there’s not a direct correlation. Another thing is, rates are probably going to go up within the next year or two. So it doesn’t make sense to wait for the rates to go up to buy. If I was in the market to buy, I want to get them in low.”

Watch the interview below and be sure to get in touch with Matt, here.
Matthew Giangregorio, Charlesgate Realty - YouTube

The post Matthew Giangregorio Talks Interest Rates on RETB appeared first on Charlesgate Realty.

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Just listed by Sarah Herbert, this bright and sunny penthouse corner 2 bedroom JP condo is a commuters dream. Priced to sell, this home features:
  • Professionally managed building
  • Quick walk to Green and Orange MBTA lines
  • Large bedrooms
  • Hardwood floors
  • Spacious living room
  • Large private storage
  • Separate dining area with built in A/C
  • Whole Foods, Jamaica Plain, and all the great restaurants and shops of JP just steps away!

*Contact Sarah to show! Offers due Sunday February 3rd by 5pm*

Visit 425SHuntington.CharlesgateRealty.com to learn more!

The post [Just Listed] 2 Bedroom Penthouse in JP! appeared first on Charlesgate Realty.

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22 E Springfield #3 | South End

Just Listed by Derek Valentine

Stylish & bright one bed+office/nursery on tree-lined East Springfield Street. Luxurious eat-in kitchen features custom cabinetry, new professional Bertazzoni appliances, quartzite counters with waterfall edge, and a marble back splash.

The open concept continues into the living room with high ceilings, crown molding, exposed brick, and large windows. A large sunny bedroom includes a generous walk-in closet with a new Bosch stacked washer/dryer unit. A separate room would make a great office, guestroom, or nursery. A marble bathroom completes the package.

All this in a well maintained pet friendly 100% owner occupied association with an extremely low condo fee ($150/month) that covers heat, hot water, and gas cooking! Easy T access, and steps to dining at Toro, Bar Lyon, Flour, etc as well as Blackstone Square for those with dogs.

First open houses this weekend! January 5 & 6, 12-1:30pm

Get in touch with Derek here!

The post [Just Listed] Stylish & Bright 1 Bedroom Condo in the South End appeared first on Charlesgate Realty.

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