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Redefining Boston Real Estate

LRG Boston Real Estate Blog

Boston luxury real estate as it happens

What Sellers Must Know About Passing A Smoke/Carbon Test In Boston

July 12th, 2011

Luxury Residential Group would like to provide a guide for what all sellers and their agents need to know about obtaining a smoke/carbon-monoxide  detector certificate in and around Boston, MA:

  1. Seller MUST leave a BANK/CASHIERS CHECK for $50.00 made out to “The City Of Boston”.  This is the fee that the City collects and will not perform the inspection without it.
  2. All smoke detectors MUST be working and located just outside of every bedroom. Please be sure to push and hold down the “Test” button with a broomstick to make sure the batteries and the detector itself are working.  This will NOT set off the fire alarm, it is simply a test button.  If it does not work, replace the batteries and make sure it does.  Your unit will FAIL inspection if it does not work and you will not be able to close.
  3. There must be fully operational, installed, carbon monoxide detectors within 10 feet of all bedrooms. Your unit will FAIL if these are not installed and working.  Most detectors can be plugged right into the wall.
  4. Your agent will schedule the smoke/carbon inspection.  The phone number to schedule an appointment is 617-343-3627.
  5. The fire inspector will give your agent a date and time frame. Appointments are in 2.5 hour slots, usually 8:30 am to 11:00 am.(*The inspector will NOT wait so make sure your agent is not late and present in the lobby).
  6. Each certificate is only valid for 60 days so make sure you schedule your inspection about 15 to 30 days prior to closing.  If the closing is delayed past the expiration of the certificate, you must schedule to obtain a new one.

*Please remember, if you do not obtain a current smoke/carbon monoxide detector certificate from the town or city in which your home or condo is located, you will NOT be able to close on your property until you have one.

Four Burgers Opens At 134 Boylston St., Boston, MA

June 23rd, 2011

FourBurgerTurkeyWe had the opportunity to try Four Burgers(Menu here) newest location at 134 Boylston Street just next to Emerson College and around the corner from condo developments, One Charles, The Four Seasons, Heritage and Le Jardin. The restaurant was bright, airy and CLEAN. Although a bit pricey for fast food, the grass fed, all natural beef burger tasted fresh and delicious. The Turkey Burger pictured to the left was seasoned perfectly and the side of pickles and chips were the perfect compliment. The extra grease that you find at competing burger joints were not present and the french fries were perfectly salted and cooked golden brown. We did not walk away with that, “Uchhh, I just ate so unhealthy” feeling.  What else is there to say except we highly recommend you try it for yourself.  If you want a somewhat healthy, tasty, all natural, burger, different from the big chains like Mcdonald’s and Burger King, definitely try Four Burgers on Boylston St, Boston, MA.

Nicholas Cage Unloads R.I. Estate For A $9.5 Million Loss

April 21st, 2011

Can you say WOW?  Nicholas Cage purchased a 27-Acre, 18,825-square-foot, 12 bedrooms and 11 bathroom estate in Middletown Rhode Island, just outside Newport in 2007.  He recently unloaded it for $6.2 million.  For those of us who cannot do math, that is a loss of $9,500,000 in just 4 short years.

Exterior

 

 

 

 

 

 

Kitchen

Ritz-Carlton Boston Lobby Makeover Features A New Bar, Lounge and Restaurant

March 14th, 2011

Ritz Boston Condos and HotelToday we received exciting news from Ritz-Carlton Boston Management regarding their plans for a new lobby bar, restaurant and hip lounge. We say it is about time as local hotel lobbies, similar to those at Liberty and The New W, have surpassed the Ritz as THE cool places to stay in Boston.  Their  lobbies serve as both trendy destinations for local residents, as well as inviting, energetic reception/checkins for Hotel guests. If the Ritz can expand their image to cater to traditional, business as well as hipster clientele, they will have hit the mark. Based on the description below, this change should not offend any incoming hotel guests that are used to 5 star amenities.  As a matter of fact, we feel strongly that Ritz-Carlton Condo Residents, as well as hotel guests alike, will view this as a significant change for the better.

From Ritz Management:

“The first phase of this exciting renovation will focus on the creation of a new lobby bar and lounge to replace our existing Gallery space.  This new venue, which will be named shortly, will reflect a more modern, sophisticated design and will be a cocktail destination with small bites for both guests and local residents.

The new space will offer 65 seats with residential retro-style lounge seating and 13 seats at an arch-shaped bar that will serve as the focal point in the room.  The fireplace will remain but will be elevated to eye level for a dramatic visual upon entry.  New lighting pendants, floor lamps and a dramatic chandelier will bathe the space in warm, glowing light.  The new look and feel will exude an inviting palette of colors, from walnut wood-paneled walls, to textured fabrics and leathers in off-white, black, brown and rich cognac.  Area sisal and wool rugs will cover our Italian marble floors, and will help soften the space with a cozy and relaxed mood.

Also part of the lobby re-design is a new concierge desk making the sense of arrival for our guests more intimate and residential.  Upon completion of the Lobby by May 15th, renovations will begin to Jer-Ne restaurant & bar transforming that into an entirely new restaurant.”

WOW Rentals From Around The Country – Malibu, CA

March 2nd, 2011

 

It is common to see rentals in Boston, MA at the $15,000 to $20,000+ per month price point, but this mind blowing estate in Malibu California will run you a mere $250,000 per month.  Oh yeah, you can buy it for $75,000,000 as well.

26848 Pacific Coast Highway, Malibu, CA

 

La Villa Contenta, as it is known in Malibu California, is currently on the market for $250,000 per month on the rental side, and $75,000,000 on the sale side.  The estate sits on 8 Acres of Oceanfront land and features 13 Bedrooms, 14 Bathrooms, separate indoor and outdoor swimming pools, tennis courts and parking for 10 cars.  The primary residence encompases 11,500-square-feet and features four bedrooms and eight and a half baths, screening room and  a gym. If you you are on a tight budget, you can rent the main house for a mere $87,500 per month.

exterior

 

 

 

 

 

 

 

 

 

BackYard

 

 

 

 

 

 

 

 

 

LaVilla Contenta

 

 

 

 

 

 

 

Kitchen

 

 

 

 

 

 

 

 

MediaRoom

 

 

 

 

 

 

 

 

LivingRoom

W Developer Receives Favorable Ruling BUT Not Out Of Woods Yet

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.

The Price Of Metered Parking in Boston Just Went UP!!!!

January 11th, 2011

BostonparkingmeterYes, it is true….parking just went up in Boston 25% from $2.00 to $2.50 for two hours of parking, $1.25/hour or 12 minutes for $.25. I am sure a lot of you were wondering why the machines were taking more of your money.  Here is your answer.

Is this a sign of inflation or just an in line increase? Compared to other major US cities, Boston is relatively inexpensive. Philadelphia is $2/hour, Washington, D.C is $3/hour and Los Angeles is a staggering $4/hour.

Meter prices have not increased in Boston, MA since the mid 80′s. The city will also be implementing a “Smart Card” system in which you can reload a parking debit card at various locations.

Luxury Residential Group – #1 In Rentals for 2010

January 5th, 2011

In our first full year, Luxury Residential Group has achieved one of our goals, to be one of the best, full service, boutique brokerage firms in all of Massachusetts.  We would like to thank all our customers for their loyalty and our agents for their hard work.  Without you, we could not have achieved this great honor.

Below are the rankings, over the last 12 months, of all Massachusetts firms that do rentals.  This includes companies with over 1,000 agents.

Report Run: 1/5/2011 9:48:16 PM
Start Date: 1/1/2010
End Date: 1/5/2011
Towns: All of Massachusetts

1 Luxury Residential Group, LLC
Boston, MA 02116
37
226,590
11
51,200
106
330,220
154
608,010
191
1.24
2 Otis & Ahearn – Newbury St
Boston, MA 02116
33
221,180
57
244,070
37
136,050
127
601,300
160
1.23
3 Joyce Lebedew Real Estate
South Boston, MA 02127
75
346,350
65
157,550
22
43,750
162
547,650
237
1.12
4 Gibson Sotheby’s International Realty
Boston, MA 02118
57
251,910
84
204,334
19
51,600
160
507,844
217
1.04
5 Hammond Rental Group
Chestnut Hill, MA 02492
43
233,882
48
165,020
20
83,415
111
482,317
154
0.99
6 Coldwell Banker Residential Br
Boston, MA 02116
37
269,750
47
151,675
12
50,225
96
471,650
133
0.96
7 Otis & Ahearn – 84 Atlantic
Boston, MA 02110
30
187,700
59
192,555
22
68,700
111
448,955
141
0.92
8 Coldwell Banker Residential Brokerage – Boston – Newbury St.
Boston, MA 02116
27
170,500
24
95,800
36
140,479
87
406,779
114
0.83
9 Gibson Sotheby’s International Realty
Boston, MA 02116
19
118,510
33
127,000
23
133,300
75
378,810
94
0.77
10 Success! Real Estate
Braintree, MA 02184
94
285,738
32
46,969
27
42,000
153
374,707
247
0.77
11 Coldwell Banker Residential Brokerage – Brookline
Brookline, MA 02446
34
157,160
45
125,325
29
88,165
108
370,650
142
0.76
12 CL Waterfront Properties
BOSTON, MA 02110
41
240,500
22
80,950
12
45,525
75
366,975
116
0.75
13 Flavin & Flavin Realty, Inc.
Quincy, MA 02169
21
53,070
1
1,500
5
311,125
27
365,695
48
0.75
14 Boston City Properties
Boston, MA 02116
6
22,250
4
11,395
147
328,685
157
362,330
163
0.74
15 Keller Williams Realty
Braintree, MA 02184
11
27,550
3
307,500
5
11,050
19
346,100
30
0.71
16 Coldwell Banker Residential Brokerage – Wellesley – Central St.
Wellesley, MA 02481
28
171,900
20
91,925
22
78,220
70
342,045
98
0.70
17 Gibson Sotheby’s International Realty
Boston, MA 02109
24
120,020
74
177,630
9
25,775
107
323,425
131
0.66
18 Warren Residential Group, LLC
Boston, MA 02116
27
137,700
8
21,550
45
162,775
80
322,025
107
0.66
19 Centre Realty Group
Newton, MA 02459
23
125,940
15
52,475
29
81,400
67
259,815
90
0.53
20 Keller Williams Realty Boston
Boston, MA 02116
38
140,592
30
65,820
23
49,745
91
256,157
129
0.52
21 Coldwell Banker Residential Brokerage – Cambridge – Mass Ave.
Cambridge, MA 02138
31
164,850
28
66,460
9
24,650
68
255,960
99
0.52
22 Coldwell Banker Residential Brokerage – Boston – Charlestown
Boston, MA 02129
38
152,350
31
64,050
20
39,125
89
255,525
127
0.52
23 Boston Residences, Inc.
Cambridge, MA 02141
41
218,300
13
28,325
3
7,345
57
253,970
98
0.52
24 ePlace
Cambridge, MA 02139
31
147,460
16
44,350
7
15,075
54
206,885
85
0.42
25 Coldwell Banker Residential Brokerage – Concord
Concord, MA 01742
20
72,140
34
68,670
30
65,643
84
206,453
104
0.42
26 RE/MAX First Choice R. E.
Northborough, MA 01532
42
131,970
27
39,376
21
34,215
90
205,561
132
0.42
27 Jacob Carlin
South Boston, MA 02127
53
165,950
13
22,500
9
15,400
75
203,850
128
0.42
28 Ford Realty – Boston
Boston, MA 02114
38
135,290
21
43,845
9
24,625
68
203,760
106
0.42
29 Boston Realty NET.com, Inc.
Boston, MA 02116
26
125,930
18
45,950
10
24,750
54
196,630
80
0.40
30 Coldwell Banker Residential Brokerage – Worcester – Park Ave.
Worcester, MA 01609
53
119,850
44
49,770
20
25,445
117
195,065
170
0.40

Luxury Sells – 774 Pound Tuna Sells for $396,000 In Tokyo, Japan

January 5th, 2011

Tuna

 

 

 

 

 

You think Sushi In The Hub Is Expensive?

Boston Sushi restaurants Duozo, Oishii, Oya and Fugakyu in Brookline have nothing on the owners of the popular upscale Sushi Restaurants Kyubey amd Itamae in Tokyo.  They recently paid $396,000  or $596 per pound for a 754 pound Blue-fin Tuna caught off the coast of Northern Japan, which set a record for the highest price ever paid for a Tuna.  Why would anyone pay that much for a fish?  Fatty blue-fin better known as “o-toro”  can sell for 2,000 yen ($24) per piece at high-end Tokyo sushi restaurants.

Source: Associated Press

What does this record sale of a fish show us about Real Estate?

Well, for the most part, NOTHING, but it does tell us that  Luxury sells!!  Even in this slowly improving economy, people from around the World are willing to pay for quality.  This is reflected in the pace of sales in the white hot Luxury Real Estate Market in Boston, MA. Twenty two(22) $4,000,000 plus properties have sold in Boston over the last 6 months.

Do You Know Why Boston Rarely Loses Power?

December 28th, 2010

Boston rarely, if ever, experiences power losses due to weather related issues because all city wires are installed underground.  Take a look around, see any? One less excuse to stay home from work on a snowy Monday in late December.

Bostonpower

Here, on the Luxury Residential Group Blog, we have decided to start a fun new series of blogs titled “Do you know why”? These will be tidbits of information on topics about Boston that a lot of us did not know.

If you have any suggestion, please send us an email at info@lrgboston.com.

Featured Listing
52 Athens #3 South Boston Boston, $899,000
52 Athens #3
South Boston Boston, $899,000
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