January 27, 2012

December Home Sales End 2011 on a High Note

Home sales rose nationwide in December, marking the third consecutive month of increased sales activity. According to the Boston Globe, Massachusetts experienced 10,000 home sales in the fourth quarter. This is a slight jump from the 9,461 homes sold in 2010’s fourth quarter. 2011’s strong finish has investors feeling positive about the future of Boston’s real estate market. With interest rates still low, and motivated buyers and sellers, now is a great time to purchase or sell a home. As the Waterfront’s top selling office, CL Waterfront Properties is best-positioned to help with your sale. Contact CL Waterfront Properties today for more information on Boston’s real estate market.

January 17, 2012

Bright Lights for Winter Nights: Boston Waterfront Real Estate

When you want the most luxurious place to live in Boston, look no farther than the waterfront area. The charming properties lining the waterfront on all sides of downtown Boston bring you the best in luxury living, top location, and a great view of the Boston harbor lit up every night. Look in a few areas to find the right property to purchase in Boston so you can enjoy the best the city has to offer in dining, neighborhood attractions and modern living.

Back Bay luxury apartments and homes are situated in a great location, just off the Charles River and near plenty of Boston attractions. Living in Back Bay, you will be just a few minutes’ walk away from historic Copley Square, which is home to Old Trinity Church, the Boston Public Library and the John Hancock Tower, which is the tallest skyscraper in New England.

If you would like to be within a stone’s throw of the Massachusetts State House, check out Beacon Hill real estate. The area is the most desirable in Boston, with a great view and plenty of shopping and entertainment. The federal-style rowhouses will charm you with their old-world character and high-end renovations.

For the best waterfront views, North End is the place to be. This neighborhood, situated just north of downtown, features the historic Paul Revere House and the Old North Church, but has all sorts of modern amenities as well. North End condos are in easy walking distance of over 100 restaurants and have a great view of several wharfs along the Boston waterfront.

Just south of North End, you will find Rowes Wharf, a strip of luxury residences, restaurants and hotels on the water just east of downtown Boston. Living here, you will have great waterfront views and access to the best that Boston has to offer, including a floating stage with concerts during the summer.

January 11, 2012

CL Waterfront Properties Makes the Largest Sale in December

The Clarendon

Luxury Home at The Clarendon

Carmela Laurella once again ends the year strong by making the largest home sale in Boston for the month of December. The 2,508 sq.ft. residence at The Clarendon has gorgeous Charles River and City views, 3+ bed/4.5 bath, and sold for $4,100,000 with an average price per square foot of $1,634/sq.ft.

Designed by world renowned architect Robert A.M. Stern, The Clarendon is a 33 story brick, glass & steel tower that was completed in 2009. The building features concierge, valet garage parking, expansive common roof deck, Equinox Gym & Post 390 Restaurant. Centrally located in the heart of Boston, The Clarendon is steps to shopping on Newbury Street, Boston Common & some of the finest restaurants in the South End.

For more information on the Boston real estate market, contact CL Waterfront Properties today!

January 3, 2012

Residential Property Tax Increase of 2% for 2012

Boston Property TaxThe City of Boston has raised property taxes by 2% for fiscal year 2012 — which is the maximum allowable increase under Proposition 2 1/2.  The 2012 tax rate rose to $13.04 per thousand valued, which is a $.25 increase from 2011.  Boston Commercial Property taxes also rose 3% to $31.92 per thousand valued.

With nearly 70% of Boston’s budget funded by property taxes, the 2012 tax increase will bring the city $75 million of additional revenue.  Property taxes can be raised annually by either an increase in the tax rate or increase in the assessed value.  Residential tax rates have increased over the past 3 years while assessed values (for the most part) have remained the same.

If you are thinking of selling your Boston Waterfront Real Estate, or buying Luxury Boston Waterfront Home, contact CL Waterfront Properties, LLC for guidance and assistance.

Posted By:  Dave Costello

November 29, 2011

Leading Chinese Newspaper World Journal Reports on MA Housing Market, Mentions CL Waterfront Properties Sale of Manny Ramirez’ Condo

Interior view of the condominium formerly owned by Boston Red Sox star Manny Ramirez

Manny Ramirez' Former Home at the Ritz

A well-known Chinese newspaper, World Journal, recently reported about the Massachusetts housing market.  As the newspaper stated, “…whether million dollar homes or renovation of housing investment, more than one-third of all transactions were cash.” The luxury Boston real estate market has been kept in good stead largely by these prominent cash transactions.

The paper also reported on CL Waterfront Properties, LLC’s sale of the Ritz Carlton Boston condo which belonged to former Red Sox superstar Manny Ramirez.  This sale by Carmela Laurella was $5.550 million, the most expensive condo sold at The Ritz-Carlton in 3 years, and the 3rd most expensive condo sold in Boston this year.  This highly sought-after penthouse closed for over $1,250 per square foot.

To find out more or to get your own Ritz Carlton Boston or other Boston luxury condos, contact CL Waterfront Properties today.

By Howard Chang
Residential Sales

November 17, 2011

New Development On The Rise In Boston’s Popular Neighborhoods

Cranes lift girders onto buildings under construction in Boston's waterfront

New developments are on the rise in Boston

According to a Boston Globe article* published this morning, area developers are going before city officials this evening to seek approval to build several new residential towers. The creation of these new structures would add more than 1,400 units to the city. Low interest and vacancy rates, coupled with the high lease prices brought about current market conditions, have created an outstanding opportunity for developers to capitalize on large potential profits. Luxury Boston real estate is no longer limited to brownstones and waterfront condos – rental units in luxury developments across town are a hot ticket in today’s economic climate. Developers are eager to take advantage of this opportunity to build throughout the city, and to bring in higher profits than have been possible over the past several years.

The five proposed projects include a 404-unit apartment tower on Stuart Street; 318 back bay luxury apartments in a high-rise at Copley Place; 240 units along the Greenway in rapidly up and coming Chinatown; a 236-unit tower in the Seaport district; and 210 units in prime space on Boylston Street in the Fenway.

Mayor Thomas Menino commented that he and other city officials now receive proposals for residential development projects nearly every day, something he said has not seen for several years. According to George Fantini, chairman of mortgage banking firm Fantini & Gorga, “There has never been a better time in the last 40 years to develop a multifamily project in Boston.”

For more information about luxury Boston real estate developments, please contact Scott Accorsini or CL Waterfront Properties for more information. Our team of Boston real estate experts will be happy to help.

*Source: “Building Spree” by Casey Ross, Boston Globe 11/17/2011

October 5, 2011

More homes being bought with cash

Boston Homes being bought with cashWith tougher mortgage rules and buyers asking for lower prices, the real estate is becoming more of a cash economy as reported in the Boston Globe this weekend.

Homes paid with cash in Massachusetts has reached to more than a third of home sales this year with more and more home buyers opting out of the mortgage process.

August cash sales accounted for 34 percent of the residential real estate transactions.  Some of the areas with the highest percentages of mortgage-free deals include Roxbury, downtown Boston and Cambridge.   One of the most notable sales came from our offices here at CL Waterfront, which was the former Red Sox player Manny Ramirez’s $5.6 million condo at the Ritz-Carlton Towers, exclusively listed and sold by CL Waterfront President, Carmela Laurella.

If you are interested in purchasing or selling a luxury Boston or luxury waterfront home, please contact our offices today.

September 9, 2011

Manny Ramirez Penthouse Sells for $5.550M

Most Expensive Condo Sold at Ritz in Past 3 years

Represented by Carmela Laurella & Dave Costello, the Manny Ramirez family’s ultimate 4 bed, 5.5 bath penthouse on Boston Common is closing today and represents the 3rd most expensive condo sale in Boston this year.This 37th floor residence overlooks the Public Garden, Charles River, Back Bay and beyond. Oversized living room with marble floors, gas fireplace and floor-to-ceiling windows with city & park views. Formal dining room with custom built-ins & lighting and direct views down the Back Bay. Open kitchen with breakfast area leads to one of Boston’s highest private decks with over 500 sq/ft and views of Beacon Hill, Back Bay, South End & Harbor. 1,100+ sq/ft master suite with 2 bathrooms and 7 custom closets. Large guest bedroom with marble baths en-suite, custom closets and stunning views. Doorman, Valet, Concierge and world class hotel services provided by the Ritz Carlton.

July 28, 2011

High End Sales Push City & Waterfront’s Prices up 10%

Boston’s Downtown Condo Market is booming this year.  The overall median price for Boston rose by 10.2 percent to $487,000 this year, while luxury building prices rose 13.1 percent to a median of $735,000.  Both of these metrics are only about $15,000 shy of 2008 peak prices just before the financial crisis frightened buyers.

Boston WaterfrontAlthough these numbers seem good, citywide home sales in Boston have declined by 10% since last year.  The increase in both medians is likely due to the 26.8 percent increase in high-priced luxury condominium sales, most of which are in the downtown Boston area.  Another major factor allowing prices to increase while sales decrease is that there is simply less supply, giving sellers more power in the market.  Debra Taylor Blair, president of the Listing Information Network, a Boston company that tracks the city’s downtown condo market, presented the idea that “Sellers can rent their properties out and more than cover their mortgage.”  This at least partially explains home-owners’ reluctance to sell, and points to positive trends in market confidence despite the sales decrease.

John Ranco, a broker with the South End’s Hammond Residential Real Estate, also pointed out that much of last year’s sales were driven by federal home buyer tax credit.  These incentives mainly affect first-time home buyers, and therefore lower-priced sales.  Again, this helps explain 2011′s lower sales quantities but higher prices.

To read more about Boston’s booming real estate prices, visit Boston.com’s article at http://articles.boston.com/2011-07-26/business/29817026_1_condo-market-condo-prices-debra-taylor-blair.

Interested in buying or learning more about Boston Luxury Condos?  Contact CL Waterfront today!

June 20, 2011

Boston Bruins Celebrate the Stanley Cup with Boston Waterfront Neighbors

The Stanley Cup once again was raised high over the Boston Waterfront neighborhood with the Boston Bruins and friends. But the celebration didn’t stop here.  The Cup was also paraded through the city on Saturday, starting from the Garden in the North End and through a sea of ‘black & yellow’ all the way to Copley Plaza.  But while it was here on the Waterfront at the Union Wharf luxury buildings, NorthEndWaterfront.com captured these great photos.

Boston Bruins Celebrate the Stanley Cup with Boston Waterfront Neighbors

Zdeno Chara raises the Stanley Cup over Boston Waterfront!

Boston Bruins Celebrate the Stanley Cup with Boston Waterfront Neighbors

Rich Peverley raises the Stanley Cup!

Boston Bruins Celebrate the Stanley Cup with Boston Waterfront Neighbors

Boston Bruins players (from left to right): Nathan Horton, Zdeno Chara, Rich Peverley, Dennis Seidenberg and Andrew Ference pose with the Cup at the Boston Waterfront.

Boston Bruins Celebrate the Stanley Cup with Boston Waterfront Neighbors

It's a Stanley Cup celebration with family and friends on the Boston Waterfront!

The 1971-1972 Boston Bruins engraving on Stanley Cup. It's been 39 years since it's return to Boston.

 

NorthEndWaterfront.com photos, courtesy of Dan Flaherty.

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