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Redefining Boston Real Estate

LRG Boston Real Estate Blog

Boston luxury real estate as it happens

Archive for the ‘Boston Condo Hotels’ Category

W Developer Receives Favorable Ruling BUT Not Out Of Woods Yet

Friday, February 11th, 2011

wbostonSawyer Enterprise, the developer of The W Boston has fended off foreclosure, for now.  Prudential would love nothing more than to foreclose on the distressed property but Bankruptcy Judge Joan has ruled that Sawyer has a reasonable amount of time to restructure the loan.  That said, The W has a few hurdles to overcome.  They MUST increase sales from about 1 per month, only 29 units have sold in 27 months, to at least triple that in the coming year or two.  Common sense would tell us that the ONLY way to overcome this challenge is to significantly lower their prices. Although folks like to stress the price/ft ratio, recent sales show a very reasonable $575/ft sale on the 18th floor, not many buyers are motivated to pay $850,000 for an obstructed view, one bedroom unit. 

As we see the market continue to pick up, we are hopeful that The W pulls out of their slow sales pace by becoming more reasonable in their negotiations.  It seems they are as 5 units have gone under agreement in the last six weeks including a $4.5 million dollar penthouse.  For a healthy comparison, The Clarendon began their sales process almost simultaneously to The W and is now over 50% sold in the same period with another 5 to 10% under agreement.

Is The New W Lounge and Market Restaurant WOW?

Monday, November 23rd, 2009
W Boston Bar and Market Restaurant

W Boston Bar and Market Restaurant

The W Hotel which houses luxury condominiums, lounge and restaurant is the newest addition to Boston’s cityscape.  More than just a commanding structure, the W offers residents and visitors alike the opportunity to luxuriate, socialize and flirt in its signature style restaurant and lounge.

Bringing new energy to Boston’s Theater District, the hotel’s contemporary
luxury attracts a sophisticated crowd.   The setting does not mirror other
popular hotel bars around the city.  Instead, the mood at the W Bar remains
mellower, allowing guests to enjoy a more engaging and intimate setting.

There is a buzz around Boston so arrive at a reasonable hour to
avoid the long lines. 

LRG’s Take:  The food was tasty and the drinks were delicious. If you are not a drinker, try their Ginger Ale, it is unique and quite tasty.  If you like Mojitos, their  pineapple version of this popular mint drink was delicious.  The shrimp salad was yummy and the burger was well worth its $14 price tag.  The bar scene was mellow and laid back but the lobby store casted a bright light which somewhat killed the relaxing vibe.  The crowd was attractive but a little clicky.  This is not a pick up joint so bring some close friends, sit back, and enjoy the scene. The question is, did we find the experience to be WOW, which is another one of their motos? NO, but it was enjoyable, relaxing, and a refreshing change.

Featured Listing
12 Concord Ave #1, Cambridge, MA Harvard Square Cambridge, $1,199,000
12 Concord Ave #1, Cambridge, MA
Harvard Square Cambridge, $1,199,000
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