Blog :: 05-2017

The Best of Back Bay Condos - Seven New Construction Buildings on Our Radar

You won’t find a neighborhood in Boston that hasn’t been touched by the boom of residential development, and Back Bay is no exception.  Located in the heart of the city along the lovely and meandering Charles River, Back Bay is arguably the city’s most esteemed neighborhood.  The rows of victorian brownstone homes, the cultural institutions, renowned shopping and iconic city landmarks make this neighborhood illustrious and highly desirable.  So it’s no surprise that Back Bay real estate is more expensive than any other in the city, and that condos for sale in Back Bay are a hot commodity.  Luckily there’s some pretty significant residential development happening in this posh neighborhood, which will give aspiring Back Bay residents more options and satisfy some of the demand. Here are the seven new construction buildings we have our eye on right now:

1. One Dalton

(Image source: http://www.bldup.com/projects/one-dalton)

The first building on the list is a doozy.  Not only will One Dalton be the tallest residential tower in New England at 740 feet and 61 stories tall, but it will offer residents state of the art amenities and sweeping views of The Charles River and the Boston skyline.  Here are the details (source: http://www.bldup.com/projects/one-dalton):

  • 180 private luxury condominium residences on the upper floors
  • Amenities: lap pool, fitness center, salon with manicure, pedicure and hair styling services, private yoga and pilates studio, a golf simulator room with a wet bar and private theater room 
  • A Private Residents’ Club Lounge will feature a dining room, a lounge area, a fully appointed bar and catering kitchen and a terrace with views of The Charles River and Boston skyline  
  • 5,000 square foot park at ground level
  • A Four Seasons luxury hotel will comprise One Dalton’s lower floors
  • Expected completion June 2018

2. Four51 Marlborough

(image source: http://www.bldup.com/projects/four51-marlborough)

Located on one of the most desirable residential streets in Boston, Four51 Marlborough has the historic charm of other Back Bay condos, but was built with modern luxury in mind.  The boutique building is located just around the corner from some of the city’s best shopping, restaurants and attractions.  Only two of the 8 luxury condominiums remain, “Residence West” and “Three East.”  Specific building details include (source: http://www.bldup.com/projects/four51-marlborough):

  • Eight luxury condominium residences ranging from 2-5 bedrooms
  • Fine natural finishes as well as French balconies, direct elevator access and multiple sunlight exposures
  • Heated garage parking on site
  • Concierge service

3. 30 Dalton

(Image Source: http://www.bldup.com/projects/30-dalton)

30 Dalton is a luxury rental building, but it’s certainly worth mentioning for it’s state-of-the-art finishes and sweeping views of Boston.  With construction wrapping up in June of 2016, this building’s towering facade is relatively new to the Back Bay skyline. 30 Dalton is “uniquely positioned at the nexus of the Back Bay, the South End and Fenway Cultural District” (source: http://www.30dalton.com/neighborhood/) and features:

  • 218 luxury apartment residences
  • 1-, 2-, and 3-bedroom residences with state of the art finishes
  • A common area on the top floor, known as The Skyline Suite, with a double-height common space featuring a caterer’s kitchen, a fitness center, private dining and an outdoor terrace
  • Flour bakery has opened in 30 Dalton’s ground-floor retail space

4. The Abbott

(Image source: http://abbottbackbay.com/#services)

Though this building has been around since 1872, it might as well be new construction with it’s luxurious and modern finishes.  This boutique building is located on the sunny side of a prime Back Bay block. Here’s more information (source: http://abbottbackbay.com/#about):

  • A complete restoration and modernization of the 1872 Peabody and Sterns brownstone
  • Located at the corner of Marlborough and Exeter Streets
  • Eight units in total
  • Expected completion in late Summer 2017
  • Rental parking available

5. 474 Beacon

(Image source: www.zillow.com)

This new construction building in Back Bay is scheduled to be completed any day now, and features three units, two of which are still available.  These Back Bay condos are overlooking The Charles River and include:

  • 3 bed / 3 baths
  • Living rooms with southern exposure and gas fireplaces
  • Elevator access
  • Direct access to Tandem Garage parking
  • Expected completion May 2017

6. The Lydon 

(Image Source: www.lydon.com)

Optimally located at 401 Beacon, the Lydon offers residents “a new level of style and sophistication in one of the most iconic and culturally sophisticated neighborhoods.”  Only one available unit remains, a 4 bed / 4 bath home with top of the line finishes and over 5,570 square feet.  It also includes:

  • Two living levels
  • Direct elevator access
  • Two garage parking spaces
  • A daytime concierge

7. 237 Marlborough

We had to throw this new construction single family into the mix because it’s sure to be one of the most magnificent homes in the neighborhood. Located on the sunny side of Marlborough street, this home is one of the best that Back Bay real estate has to offer.  It’s features include:

  • 4-5 bedrooms
  • Elevator
  • 2-car garage
  • Library
  • Fitness room
  • Au pair suite
  • High ceilings, beautiful moldings and elegant finishes
  • An oversized back deck with piped in grill
  • A large head house opening to a walk-out room deck complete with 2nd kitchen and city views

Back Bay offers residents and visitors a unique blend of historic charm and urban culture.  But the same things that make it captivating also make it a somewhat difficult area for new construction.  In order to preserve both the antiquity and metropolitan conveniences of the neighborhood, city officials must be discriminating about new development, resulting in fewer new condos for sale in Back Bay than other Boston neighborhoods.  But these six new construction buildings have found their place in Back Bay, and they’re giving buyers some elegant and alluring new options.  

The Charles Realty has had its finger on the pulse of Boston real estate for 34 years.  Our agents have unparalleled knowledge of the city and it’s neighborhoods, and oftentimes have access to information not yet made public.  For any questions about listings in the aforementioned buildings, other new projects in Boston, the status of projects, availability of new construction homes, or anything pertaining to Boston real estate, please contact us.  

 

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    5 Essential Tips for First Time Home Buyers

    Buying a condo in Boston is a thrilling prospect, but not knowing what to expect from the process can be daunting, and most first time homebuyers don’t know what they don’t know. Many feel overwhelmed with what they’ve heard about the Boston real estate market - costs, inventory, competition and working with industry professionals, so they hold off on buying and continue to make monthly payments to a landlord, disqualifying them from the many benefits of ownership.

    But with rate increases expected over the next year, now is the time for prospective first time home buyers to go for it. To make it easier and more manageable, we put together the 5 best tips to demystify the process and help first time buyers get the most from their Boston real estate purchase.

    #1 – Your first step is pre-approval. Before you find the home of your dreams, before you contact an agent, before you even glance at Zillow’s website or start comparing condos in Back Bay to condos in The South End, you should get pre-approved for a loan. Many first time buyers fall into the trap of finding the perfect place before they know they can afford it. It’s a waste of time and emotional energy. You’re much better off knowing what you can afford, finding something in your price range, and being able to quickly make a competitive offer. Make sure your lender clearly outlines the process for obtaining a loan, and all of the documentation you’ll need to provide, as well as the timeline for when they’ll need it. Staying organized can expedite the loan process and make things go more smoothly.

    #2 – Take a homebuyer education course. Oftentimes first time homebuyers are dealing with one or more challenges that make home buying seem less attainable than it is. Credit issues, uncertainty about the lending or buying process, lack of savings for a down payment – all of these issues are easily surmountable with the information you’ll gather in a homebuyer education course. There are thousands of organizations throughout the country that provide these courses, and all of them must meet the standards set forth by the National Industry Standards for Homeownership Education and Counseling. This means that all courses are mandated to cover the following 5 critical aspects of home purchasing and ownership:

    • Assessing homeownership readiness
    • Budgeting and credit
    • Financing a condo
    • Shopping for a condo
    • Maintaining a condo and finances

    #3 – Explore neighborhoods during off times. Neighborhoods can look very different at 9pm then they do at 11am. You’ll want to know what your prospective neighborhood is like at both times. Are you a night owl? Then you probably don’t want to live in an area where restaurants advertise early bird specials and stop serving meals at 8pm. You’re better off in a neighborhood like The South End with it's abundance of restaurants, bars and stores that stay open late.  If you're attracted to historical charm and like the energy of a neighborhood that bustles with tourist activity on the weekends, check out Beacon Hill condos for sale.  If you like the idea of a neighborhood that's somewhat removed from the downtown area but still has easy city access and a lively atmosphere, take a look at condos for sale in South Boston.  Also, don’t forget how much traffic patterns can affect a neighborhood throughout the day. You’ll want to travel the roads around your new prospective home during the hours you’re most likely to use them, so you know what your commute will look like and can factor that into your decision making.

    #4 – Identify the type of home that fits your lifestyle and needs. There are numerous reasons a person might want to invest in Boston real estate - it's a healthy market with sustainable growth due to the city's abundance of jobs and influx of university-related residents.  Most Boston homes are condos or townhomes, so if you want to live in the city it's likely you'll be sharing at least one wall with your neighbors, however there's a huge variety of building types.  If you're looking for condos for sale in Back Bay for example, you'll likely notice that the buildings are historic and stately, though many of them are restored and the homes include modern renovations.  Many condos in The South End are in new buildings, like those at the Ink Block, with a number of upscale amenities and close proximity to retail and restaurant options (here's a recent list of 7 hot new construction projects in The South End).  Real Estate in the Seaport District and Downtown Boston is thriving, again due to an influx of new residential development, so you can expect to find a good selection of luxury condo options.  

    #5 – Talk with an accountant to understand tax benefits and residential exemptions. As a buyer, you probably already know that one of the main benefits of owning a home is the impact it has on your taxes. But did you know that in Massachusetts owners qualify for an additional tax exemption if the property they own is their primary residence? It’s as easy as filling out and submitting the proper form by the April 1st deadline.  Your accountant can provide you with more details about the exemption, as well as the many tax benefits of owning versus renting.

    If you’re a first time buyer, it’s likely that you have some anxiety about the unknowns, and that makes sense, because real estate in Boston can be tricky.  But if you follow these tips and work with one of our expert agents, you'll have the information and confidence you need to navigate the process like a pro.   

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