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Blog :: 02-2014

Fenway Property Values Fastest Growing in City

By Eddie Small, Boston Courant

"Property values in the Fenway have skyrocketed faster than those in any other part of Boston since the mid 1990s."

Between 1994 and 2013, the median price for residential property in the Fenway jumped 407% (Department of Neighborhood Development).

Value increases in other Boston neighborhoods, 1994-2013:

  • East Boston: 392%
  • South End" 329%
  • Back Bay and Beacon Hill: 227%

"The Fenway's amenities and access to transportation help make it a particularly attractive neighborhood for the young."

Some describe the higher prices as destabilizing, putting pressure on the long term residential portion of the neighborhood that's getting squeezed out.

With new residential developments coming to Fenway, we will keep an eye on how the neighborhood continues to evolve. One thing's for certain, though: go Sox!

https://twitter.com/BostonCourant/status/439435354374799360

For the full article, pick up a copy of this week's Boston Courant.

Glass Towers coming to Boston: Millennium Tower

Boston's 4th tallest building!

The new Millennium Tower will be located in Boston's Midtown, surrounded by Downtown Crossing and the Theater District. The 55 story, 600 foot glass tower will offer views of the Charles River, Boston Harbor, and the Back Bay skyline. Millennium Tower will be comprised of condos, rentals and over 230,000 square feet of retail spaces on the lower floors (likely including a highly anticipated grocery store). There will also be 525 underground parking spaces.

On its lower levels, Millennium Tower will connect to the historic Burnham Building.

Images and renderings of the newest project from Millennium Partners:

Featured Property: the Burroughs Mansion

Historic Jamaica Plain Estate is being transformed into four luxury condominiums.

Today, Cambridge architects Carr, Lynch and Sandell have designed three extraordinary condominiums in the mansion and a fourth home in the carriage house. The development team includes 54 Burroughs Street LLC of Dorchester and Shepard Construction and Development LLC of Hingham.

Tracy Campion and Bill Gehan of Campion and Company Real Estate are marketing the residences, priced between $1.695 million and $2.55 million. The penthouse is under agreement. Oct. 15 is the anticipated completion date.

 

DETAILS

Address: The Burroughs Mansion, 54 Burroughs St., Jamaica Plain

Unit 1: Four bedrooms, three-and-a-half baths, 3,756 square feet, $2,195,000

Unit 2: Three bedrooms, two-and-a-half baths, 2,756 square feet, $1,895,000

Penthouse: Three bedrooms, two-and-a-half baths, 2,415 square feet, $1,695,000. This unit is under agreement.

Carriage house: Four bedrooms, three-and-a-half baths, 4,226 square feet, $2,545,000

Age: 1896-1897; 2014

Taxes and condo fees: To be determined

Features of property: Four meticulously designed, totally renovated condos within a classic Colonial Revival mansion and carriage house in fine Pondside location. Landscaped grounds; two deeded parking spaces for each home.

Close by: Jamaica Pond and Boathouse, Arnold Arboretum, boutique shops and restaurants along Centre Street.

Contact: Tracy Campion or Bill Gehan, Campion and Company Real Estate, 172 Newbury St., Boston, MA 02116. Phones: 617-236-0711 (office) or 617-797-1270 (Gehan cell). Email: bgehan@campionre.com

 

Read more of the BOSTON HOMES feature

View available Burroughs Mansion properties

Notable Back Bay Real Estate Sales: Marlborough Street Townhouse

Designed by Little and Browne, this single family home was once the home of the Pulitzer-prize winning American author and journalist Edwin O'Connor (The Edge of Sadness, The Last Hurrah). Located on the first block of tree-lined Marlborough Street, the home is just steps from the Public Garden and offers an exceptionally wide limestone/brick edifice, exquisite original detailing, elevator, beautiful mahogany doors and columns, and incredibly proportioned formal living/private spaces. 

Click here for more details on this and other Campion and Company sales.

Notable Back Bay Real Estate Sales: Heritage on the Garden

A stunning Back Bay penthouse at the Heritage on the Garden at 300 Boylston Street was sold last month for $5,200,000.


The boutique building has an extraordinary location, directly opposite the Public Garden, and the penthouse, Unit 1003, occupies premium space in this full-service building. It is one of only two condominiums on the tenth floor in the middle belvedere and has an expansive private terrace.

Read more from Boston Homes

Boston: Growing Demand for Luxury Goods and Luxury Real Estate

Boston: Growing demand for luxury goods......and luxury real estate.

"Only a few years ago, Newbury Street was combating an exodus of retailers that struggled to pay the strip's high rents amid sluggish sales. Now the vacancy rate around the shopping district is a spare 2 percent."

With international and high-end retailers coming in, the Back Bay is becoming even more of a destination for boutique and upscale retail. Look no further than Chanel's recent expansion at 6 Newbury Street.


"Once derided as a provincial city, Boston continues to expand its international presence. Its financial and technology companies do business with customers around the world, and even its modest airport has added nonstop flights to numerous exotic capitals." For example, Emirates will offer direct Boston-Dubai air service beginning this spring.

"Though long a draw for wealthy foreign travelers, Boston has changed due to an influx of outsiders; since 2000 the city's population has grown by 47,000, or 8 percent, and now one-fourth of Boston's residents are foreign-born."

Accompanying the influx of these foreigners (as well as a large number of domestic buyers opting for city life) is a downtown building boom of luxury condominiums and apartments.


Boston's Luxury Growth Potential:

According to a recent analysis by Boston Consulting Group, Boston ranks among the top 30 cities projected to outpace booming areas such as Abu Dhabi, Bangkok, Geneva, and New Delhi over the next five years.

 

Boston Then and Now

22 Chestnut Street, Beacon Hill

This 1823 Asher Benjamin Federal-style townhouse represents Beacon Hill in its finest era. Today, this single family home has a stunning renovated kitchen and dining room all on one level, 7 bedrooms, 6 fireplaces, elevator access and heated 4 car garage.

Photo Courtesy of The Boston Society

Boston's Top Real Estate Agents: December 2014 Rankings Just Published

Showcasing the top 20 real estate agents in Massachusetts based on monthly closed volume based on third party information.

NO.1: TRACY CAMPION

December STATS

Volume:

$36,095,000

 

 

NO.13: MEGAN KOPMAN

DECEMBER STATS

 

Volume:

$4,764,000

 

 

Visit Boston's Top 20 Archives for previous Boston Real Estate Agent Rankings