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Blog :: 08-2017

Savvy Buyers Are Choosing Real Estate In East Boston - 10 Hot New Buildings

In our last new construction feature we focused on one of the hottest and most lively residential and commercial development scenes impacting real estate in Boston - The Seaport.  This week, we’re heading across the harbor to East Boston, another waterfront neighborhood experiencing an unprecedented flood of development.  

There was a time, not long ago, when East Boston, home to Boston’s Logan Airport, was somewhat of a red-headed stepchild when compared to it’s sister neighborhoods.  Known as a working-class neighborhood with a large number of foreign-born residents who have lived in the neighborhood for many years, Eastie was a small enclave of cheap and authentic ethnic cuisine, impressive views of the Boston skyline and most importantly to many - some of the most affordable real estate in Boston.  But over the last several years, as the supply of homes for sale in downtown Boston dropped and the flow of new inventory slowed to a trickle, buyers were forced to expand their search to areas just outside of downtown, like East Boston, that still had a lot to offer.  Developers, both residential and commercial identified the trend and the opportunity it presented, and so began Eastie’s transformation into one of the areas new “It” neighborhoods.  With a striking number of new residential projects, many of them luxury condos, and an influx of chic new restaurants and stores, the neighborhood’s appeal, and it’s average home value, are on a serious trajectory.  Here are 10 new construction projects that anyone interested in East Boston real estate should take note of:

1. Clippership Wharf

(Source: bldup.com)

Clippership Wharf is a mixed-use development project on 12 acres of the East Boston Waterfront.  The phased project began with the erection of the first three buildings - two containing 284 apartments and the third consisting of 80 condominiums (dubbed Slip65).  Phase two will include a fourth building with 114 apartments.  Here are the specifics:

  • A total of 478 residences with approximately 30,200 square feet of retail and community space, including a cafe and restaurant
  • Over four acres of waterfront open space including a new Harborwalk
  • 321 vehicle parking spaces on site, 300 of those in an underground parking garage
  • Slip65 will include one and two-bedrooms with top-of-the-line finishes and waterfront views throughout
  • Slip65 amenities include indoor and outdoor gathering areas, a fitness and social club and bike storage
  • Slip65 condos are currently on sale, but are 95% sold
  • Apartments at Clippership Wharf will be dubbed Dox, and leasing will begin in 2018
  • Located steps from Maverick Square and MBTA Blue Line station, and is a three-minute train ride to Downtown Boston

2. Portside at East Pier Phase 2

(Source: bldup.com)

As the name suggests, Portside at East Pier is ideally located on over two acres of the East Boston Waterfront with views of the cityscape. Phase one of the project was completed in November of 2014 with the second, larger phase scheduled for completion in September of 2018.  It will include:

  • 296 residential units across two new five-story buildings
  • 43 units will be designated affordable and eight will be extended-stay units.  The remaining 245 units will be offered at market rates
  • 11,000 square feet of amenities on the ground floor, including an indoor pool
  • A one-level underground parking garage on site with 253 spaces

3. The Residences at 245 Sumner Street

(Source: bldup.com)

This new luxury residential apartment building is located in the waterfront Jeffries Point neighborhood of East Boston.  Luxury rental buildings are popular in downtown Boston, but options for luxury rentals in East Boston are far more scarce.  The Residences at 245 Sumner Street will offer a great opportunity for those looking for a luxury rental in Boston without the price tag commonly attached to luxury rentals in Back Bay, The South End and The Seaport.  Here are more details:

  • 34 luxury units including 2 and 3-bedrooms with open floor plans, natural lighting, private decks and 9-foot ceilings
  • Finishes include bamboo hard wood floors, high-efficiency LED lighting, brushed nickel door hardware and faucets, stainless steel appliances and granite counters
  • 2,257 square feet of ground-floor retail 
  • Market-rate rents start at $2,400 / month for 2-bed / 2 bath, and $3,100 for a 3-bed / 2 bath apartment 
  • 34 vehicle parking spaces are located in an underground garage, with bicycle storage as well

4. Coppersmith Village

(Source: bldup.com)

This mixed-use development is currently under construction along Border and Liverpool streets and will offer both rentals and ownership condominiums.  Here are the specifics:

  • 71 residential units and approximately 3,000 square feet of ground-floor retail
  • Two multifamily buildings will feature 56 1, 2 and 3-bedroom rentals as well as ground floor retail
  • One building will include 15 condominiums for sale
  • 37 vehicle parking spaces under the two rental buildings, which will be connected by a ground-floor lobby
  • Each condo will include a one-car garage

5. 70 Bremen Street

(Source: bldup.com)

Mixed-use buildings seem to make up a large percentage of new construction projects in Boston.  Buildings with retail space are particularly attractive to residents because they offer conveniences and an energy that other, strictly residential, buildings don’t often have.  Here are the details of 70 Bremen Street, a mixed-use building just steps from the East Boston Waterfront:

  • 32 residences with 1,028 square feet of ground-floor retail space
  • Four studios, 16 1-bedrooms and 12 two-bedrooms
  • A 30 vehicle at-grade parking garage
  • Located near the MBTA Blue Line, Maverick Square and the East Boston Greenway

6. 320 Maverick Street

(Source: bldup.com)

Located a short walk from the MBTA Blue Line in Maverick Square, Piers park and the East Boston Waterfront, 320 Maverick Street will feature residential condominiums expected to be completed in early 2018.  The buildings will feature:

  • 33 new residential condominiums
  • 4 condominiums will be designated affordable
  • 32 garage parking spaces will be located on site

7. The Faretra

(Source: bldup.com)

For buyers looking for luxury condos in East Boston, The Faretra is a great option.  The building is “Boston’s newest boutique residential development,” and is located just steps from the Boston Harbor and the MBTA Blue Line.  The specifics include:

  • 9 condominiums, all with 2 bedrooms and 2 full bathrooms  
  • Luxury finishes include solid oak hardwood flooring and recessed LED lighting, custom kitchens and with white shaker style cabinets, white Caesarstone countertops, white marble backsplash and top-of-the-line appliances
  • Some residences include private balconies
  • The penthouse residences feature private roof decks with Downtown Boston skyline views
  • Garage parking is located on site  

8. Seville Boston Harbor

(Source: bldup.com)

Those looking for luxury, waterfront condos in East Boston with all of the high-end finishings, views and local conveniences a Bostonian could dream of should check out Seville Boston Harbor.  The window to own an affordable luxury condo with such proximity to downtown and the thriving pockets of this burgeoning neighborhood will close quickly as East Boston continues to flourish, making these condos a timely investment for savvy buyers.  Here are the details:

  • 66 luxury residential condominiums
  • Ground-floor retail space situated on the East Boston waterfront with views of the Boston skyline
  • One and two-bedroom configurations
  • Amenities include garage parking, a fitness center and an expansive roof deck
  • Convenient to MBTA Blue Line rapid transit with direct service to Downtown

9. The Eddy

(Source: bldup.com)

If you’re not totally sold on East Boston, and you want to “try before you buy,” The Eddy could be a  great place to start.  Not only is it perfectly located on the East Boston Waterfront overlooking the Boston skyline, but it’s packed full of cool amenities you won’t find in many other rental buildings, including music practice space and a dog wash.  Other features include:

  • 258 studio, 1 and 2-bedroom residences now leasing
  • Amenities include a top-floor roof deck with sweeping views, a second-floor pool deck with a fire pit and barbecues, a fitness center, on site parking, music practice rooms, conference rooms, communal lounge space and a dog wash
  • Monthly rents start at $1,800 for studios, $2,050 for 1-bedrooms and $3,200 for 2-bedrooms
  • A waterfront restaurant will be located on the buildings ground floor
  • 3/4 of an acre of outdoor public open space including an extension of the East Boston Harborwalk

10. Boston East

(Source: bldup.com)

Boston East is another rental option on the East Boston Waterfront.  Scheduled to open this Fall, the building will have:

  • 200 residential apartments and public waterfront amenities including a Harborwalk, art galleries, historic interpretive exhibits and a boat launch.  
  • Six artist live-work units
  • 26 apartments that are designated affordable
  • Decks and a large indoor-outdoor rooftop lounge are listed as amenities, as well as underground parking with 120 vehicle parking spaces

With stunning Harbor and city views, excellent proximity to downtown, a lively atmosphere and considerably lower home prices than most other Boston neighborhoods, it’s not surprising that the East Boston Waterfront is one of the fastest growing areas in the city.  The sub-$500,000 condo market in Boston is diminishing, but even luxury condos in East Boston are in a price range you wouldn’t expect to see just miles from downtown.  For savvy buyers looking to maximize the return on their investment, East Boston real estate is ripe with opportunity.  

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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    Renting in Boston? Here's How to Prepare for September 1st

    It's here - August 1st, the day when people look at their calendar and realize that the Summer in Boston will soon be coming to an end.  For some, it marks the beginning of school preparations for their children or logistics planning for the holidays, but for Boston renters it means one very important thing: it's time to plan for your September 1st move in.  It's no secret that the Boston real estate market has become increasingly competitive over the last several years, which has forced a number of renters who once hoped to buy condos for sale in South Boston or Back Bay or The South End to put those aspirations on hold and instead continue to rent.  Naturally this has created more competition in the rental market, and thus, has made September 1st, which was already known as the busiest, most chaotic move-out / move-in day for renters in Boston, a true cluster for anyone not fully prepared.  This year, September 1st is on the Friday of Labor Day weekend, so we're reposting a 9/1 move-in checklist so you can get prepared, get moved and get on with your long weekend festivities!  Of course there's the obvious: pack, call about utilities, etc., but there are some other tasks that should definitely be checked off the list sooner rather than later.  Here they are, in order of time sensitivity:

    -Secure a U-Haul: There are more than 36,000 students at Boston-based colleges and universities who are renting apartments in Boston neighborhoods.  This number alone makes for a serious crowd of Sept. 1st movers, but throw in the additional renters in and around the city and you've got a number that's staggering.  If you need help moving, be it a truck or a moving service, book it now!  Call your local U-Haul, bribe your friends, whatever it takes to make sure you're not alone, strapping a mattress to the top of your Smart Car on 9/1.  If all the U-Hauls in the city are already taken, look for one outside the city in the suburbs.  Also, check to see if you'll need a parking permit for the moving truck, or if the moving company you're using will secure parking signs from the city.

    -Elevator / Loading dock reservations: Condos in Boston often come with rules.  Will you need access to your new building's elevator or loading dock on 9/1?  Chances are, other people will too, so make sure that you reserve your time if required by the building.

    -Parking permit:  Will you need a residential sticker in order to park in your new neighborbood?  Better to get it taken care of now so you don't have to deal with a parking ticket on top of all the other stresses that come along with moving day.  Visit http://www.cityofboston.gov/parking/residentparking/ for more information about applying for a residential parking pass.

    -Door and window measurements: Don't want to saw the legs off your new dining room table?  Better measure the doors and take a look at stairwells to make sure all of your furniture will fit.  In particularly tight situations, some folks will even use cranes to get furniture through windows, so if you'll need a crane, it's better to know that sooner rather than later.  Also, don't forget to measure windows - apartments and condos in Boston don't always offer much privacy, but blinds and window treatments will help.   

    -Hire cleaners: Your new place should be relatively clean when you move in, but the previous tenant might not have the same standards for cleanliness so it's always a good idea to hire a cleaner to make your new home feel fresh and inviting.  If possible, book them for early in the morning so they can be in and out before you start your move.

    -Key collection: Check with your rental agent for key collection.  When you pick them up, make sure your unit keys also include your mailbox keys.

    -Fees: Check to see if your building management company charges a move in or move out fee.

    -Trash/Recycling schedules: Moving generates a lot of trash, so it's definitely good to know which days of the week your trash and recycling are picked up.  Here's a link to the trash schedule, http://www.cityofboston.gov/publicworks/wastereduction/collection.asp.

    And since September 1st always seems to be one of the hottest days of the Summer, make sure you have plenty of refreshments for you and your friends!

    If you have yet to secure a Boston apartment to rent, take a look at our rental listings here, and for more general information about renting or buying real estate in Boston, contact our experts at http://www.thecharlesrealty.com.

     

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