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Redefining Boston Real Estate

LRG Boston Real Estate Blog

Boston luxury real estate as it happens

Brewery Lofts Go To Auction – LRG Offers $1,000 Rebate

June 3rd, 2010

Luxury Residential Group, through our Lofts Division, will be representing buyers and offering a $1,000 rebate* to our successful bidders at another exciting auction in the Boston area. Brewery Lofts in Jamiaca Plain will go to Auction on June 26th. Units are FHA approved.  Bidding will begin at 40% to 60% off original asking prices. 

 

Units feature:

  • Original brewery space featuring arched granite entry, and exposed brick
  • Distinctive Loft floor plans with ceiling heights between 9’ – 23’
  • Stainless Steel Appliances
  • Countertops are a combination of Formica and butcher block
  • Modern bathrooms with sleek finishes
  • W/D hookups in every unit
  • Individual climate control
  • Units are pre-wired for cable & internet
  • Additional private storage area
  • Fitness Room
  • Professional management
  • Secured Garage parking
  • 5,000 sq ft private, landscaped Courtyard
  • Dual Elevator service
  • Bike storage
  • Easy access to LMA and Public Transportation
  • Conveniently located minutes away

* In order to qualify for the $1,000 rebate you MUST:

  1. Initial visit to the property MUST be with one of Luxury Residential Group’s licensed agents.
  2. Win a successful bid.
  3. Must Close on a Brewery Loft unit, previously registered with Luxury Residential Group as buyer’s agent.

** On Auction Day, all approved registered bidders must present a separate Cashier’s Check, Traveler’s Check, Certified Check or Money Order (“Cash Equivalent”) in the amount of $5,000 for each residence that they have been approved to purchase. Each bidder is also required to bring a blank personal check. The blank check will then be added to the $5,000 to equal three and one half percent (3.5%) of the winning bid price. Cash Equivalent(s) should be made payable to yourself.

Please call Joshua A. Golden at 617-233-5800 to line up an exclusive showing.

Boston Home Price Correction? Not according to Case Shiller

May 27th, 2010

Boston CondosAll we hear about in conversations and the media is that home and condo prices are down across the board.  As brokers, we are constantly asked, “You guys must be hurting seeing the real estate market is down so much?”.  The short answer, home/condos sales, a huge segment of Boston proper real estate, is STRONG compared to many other regions of the country.  As a matter of fact, The Case Shiller Index, a leading indicator of home prices around the Country came out today and verified it. Where cities like Las Vegas(-12%), Seattle(-3.6%), Miami(-1.6%), Chicago(-2.3%), New York(-2.4%), were all down year over year, Boston was actually up 3.8%.

Although we do not have a crystal ball, Boston has proven to be one of the best cities, in the entire Country, to own real estate. Boston has one of the most diverse resident mixes in the entire world.  Just take a sampling from South Boston to Brookline and you will see the wonderful diversification Boston features. Rest assured, your hard earned money will be well spent when purchasing a town-home or condo in and around Boston.


W Boston Hotel and Condo Developer Files Chapter 11

April 28th, 2010

w-boston-hotelIn a not so shocking announcement, the developer of the new W Boston Condos and Hotel, SW Boston Hotel Ventures LLC has filed for Chapter 11 bankruptcy protection.  This comes as little surprise to the Real Estate community in Boston as the developer made some crucial mistakes when building and marketing the property.  ”We always felt the initial pricing needed to be closer to $850-$1,000 per foot for the upper floors rather than a non negotiable $1,100 to $1,350 per foot” says Joshua Golden of Luxury Residential Group.  He adds,  ”Do not get me wrong, the structure is spectacular and The W brand is second to none when one thinks of sleek, clean design combined with a hip sexy atmosphere.  The problem was solely based on pricing and lack of deal making early on in the process.”

Bottom line, the prices were too high for the location.  The developer would have been far better off dropping the prices early on when they saw the market turning downward to stimulate sales and make the building more financeable for buyers.  Instead, they tried to match prices with the more desirable Clarendon Boston in the Back Bay, which ultimately was their undoing. They were not negotiable on their pricing even though evidence presented itself that buyers at the high end were migrating towards the Back Bay verse the Theater District.  The developer should have kept a closer eye on the market and acted accordingly.  Units with superior views at The Ritz Carlton were going for far less per foot.

The W Condos and its developers may emerge from this unscathed, but it is now hard to justify any sales moving forward without a significant price reduction, maybe even, dare we say it, a low reserve auction on a portion of the units, similar to The Bryant Back Bay which is now one of the hottest selling buildings in Boston.  Time will tell, stay tuned.

** It is important to note that this in NO WAY effects on the operations at the W Hotel Boston.  It is business as usual:-)

The Paramount in Beacon Hill – Not Just Breakfast

April 26th, 2010

Paramount Bistro BostonThe Paramont Bistro, a fixture on Charles Street in Beacon Hill since 1937 is well known for its comfort breakfast menu. Surrounded by history, charm, gas lit tree lined streets and some of the most expensive real estate in Boston is this inconspicuous, absolutely delicious bistro.  What many people d0 not know is that they serve dinner.

Last night, while enjoying a nice stroll through the Hill, a few of us had the pleasure to dine at The Paramount for what was perhaps one of the most enjoyable meals we have ever had in Boston.  I had the Teriyaki Grilled Chicken with Lo Mein noodles and stir friend vegetables. WOW!!!  My friend had the sweet Chicken Marsala with creamy, garlic potato’s and buttery green beans.  My other friend had the very generous sized, extremely tasty, baked chicken.  To top it off, we shared perhaps one, if not the most delicious, most decadent desserts we had ever tasted, the warm, caramel topped, ice cream on the side, banana bread pudding.  We were tempted to order the chocolate cake or caramel cookie dough milk shake but held off.

The staff was friendly and professional, the price was reasonable, the atmosphere was laid back and the food ranks up there with the top eateries in Boston. This should be a must try when visiting or living in Boston. In all honesty, it does not get too much better than The Paramount Bistro for dinner, if you like casual, affordable, top notch dining.  We will indeed visit many more times in the very near future and highly recommend it.

The Paramount, is located at 44 charles street  |  Beacon Hill  |  Boston  617-720-1152. For more information, or to preview their menu, please visit their website, www.paramountboston.com

Boston Condo Sales – 2010 1st Quarter Report Released

April 22nd, 2010

For all our viewers reading pleasure.  Comments are welcome.

trinityplaceboston

Boston – 2010 First Quarter Home and Condo Sales Report

Fire at 483 Beacon – April 7th, 2010

April 7th, 2010
483 Beacon Street

483 Beacon Street

A massive 9 alarm fire has just broken out at the historic 483 Beacon Street Condo complex on the corner of Massachusetts Ave. and Beacon St.  This 70 unit building houses condos in the range of $250,000 to $600,000.  The fire started on the 7th floor.  there are 2 to 4 reported injuries related to smoke inhalation.  The rest of the residents have been safely evacuated. Stay tuned for more information.

Luxury Residential Group Sells 20 Brimmer Street

March 29th, 2010
Joshua A. Golden of Luxury Residential Group represented the buyer in the much publicized single family residence located at 20 Brimmer St in Beacon Hill, Boston, MA.  One of the nicest gut renovations of an existing single family home in Boston, 20 Brimmer was initially priced at $8,500,000+.  Unfortunately, while the home was under construction, and before its true beauty could come to fruition, the market turned.  Although the sale will be on public record, we feel it is best to protect all the parties involved and not publicize the final number.
 
We would like to mention a few of the parties involved in the sale:

Peter  and Elizabeth Georgantas (Developer/Seller) – Peter, a local real estate developer, well known for his works on 15+ single family home restorations, and the highly successful Modern building in The South End, was the seller and general contractor on the home at 20 Brimmer.  Peter and his wife Elizabeth, the quintessential professionals and masters of detail spared no expenses.  The smart home has it all: full audio and security automation, radiant heated flooring, central cooling, many green elements including an energy efficient roof, hardwoods throughout, imported marble in the master bathroom, elevator, state of the art kitchen and two deeded parking spaces. The home is flawless to say the least and Peter is responsible for every inch. We applaud them for a job well done. Please see another one of his masterpieces at 74 Beacon Street, asking $14,950,000.  Elizabeth and Peter will be running this years Boston Marathon to help raise money for cancer research at Dana Farber. Please visit their page —–> HERE <——

Tracy Campion and Brad Sprogis – Tracy and Brad represented the seller in this transaction. Two of the most professional, intelligent, well prepared people you will ever meet.  In a business that sometimes draws unethical and overly aggressive agents, Tracy and Brad stand in a class of their own for being true professionals. Luxury Residential Group would like to thank Brad and Tracy for all their hard work and efforts.

20 Brimmer Street – Beacon Hill, Boston, MA

20brimmerbreakfast  

 

 

 

 

 

 
 
 
 
 
 
20brimmerkitchen

20 Brimmer Street Auction Results – SHOCKER

March 3rd, 2010

According to two very reliable sources (NOT in the brokerage community), and close friends of Luxury Residential Group, have told us that the Auction at 20 Brimmer Street was unsuccessful and failed to meet the minimum set forth prior to auction day. There were bidders that attended but no one stepped forward with a bid of $4,975,000+5% buyers premium or greater.  This is a total SHOCKER to the Boston Real Estate and brokerage community as the auction was highly publicized and well received by the public.

We feel that the developer would have been better off with an absolute auction format rather than setting a reserve.  This would have presented the TRUE value of the property.  Unfortunately, 20 Brimmer is now valued at, or below the $4,975,000 reserve price point.  A risk the developer was willing to take, but did not anticipate happening.

UPDATE: The home is now currently priced at $4,975,000.  If you are interested in receiving more information or to set up a private tour, please feel free to email us at info@lrgboston.com or call Joshua Golden(Buyer Agent) at (617) 233-5800.

America’s Most Luxurious Homes Showcase – Los Angeles

February 22nd, 2010

Today we look at a 32 room, 8,000 square foot luxury “safe” home in Los Angeles, California.  With a price tag of $7,250,000 with these kinds of views, amenities and square footage seems quite reasonable. A similar home in Boston would fetch $10,000,000+ with relative ease. The home features 80 windows with 360 degree views of Los Angeles, elevator, theater, gourmet kitchen, guest suite, heliport, 5 bedrooms, 8 baths, den , family room, 2 offices, wine cellar, rooftop patio, parking for 20 cars (room for 6 inside), 2 Safe Cores, 2 Panic Rooms, and access control.

Exterior

Exterior

Entryway

Entryway

Entry Foyer

Entry Foyer

Kitchen One

Kitchen One

Kitchen Two

Kitchen Two

Kitching/Family Room

Kitching/Family Room

Livingroom

Livingroom

Diningroom

Diningroom

Outdoor Deck

Outdoor Deck

Patio

Patio

In Home Office

In Home Office

Family Room

Family Room

Master Bathroom

Master Bathroom

THE View

THE View

This information was provided by the listing companies website Hurwitz James Company. For more information, please contact them directly at (310) 477-8865

“Poetry of Space”- Nine New York City Artists Present New Work

February 22nd, 2010

Currently on View at Luxury Residential Group located at 355 Boylston Street, Boston, MA 02116 next to the new Arlington Greenline T Station:

“Poetry of Space”- Nine New York City Artists Present New Work

Doll

Doll

James Adelman, Dina Brodsky, Maya Brodsky, Michelle Doll, Ke Feng*, Caitlin Hurd, Karl Koett, Tun Myaing, Jason Talley*

Through March 19th
Preview the show ——->Here<——

This month Artana treats Boston to new work by nine upcoming NYC artists. To learn more about the show or the artists participating in this special event, please contact Artana’s Director Heather Roy for a private showing or group gallery tour.

“Poetry of Space” suggests art that evokes an aesthetic and emotive response while transcending the narrower limits of the traditional framed image. The nine artists exhibiting in “Poetry of Space” move beyond their rigorous and broadly classical apprenticeship in creating work that shows both freshness and evolution.

We have attempted to provide significant breadth and contrast in the pictures exhibited. Michelle Doll’s figures reflect sensual warmth and communicate the beauty of life in unexpectedly pensive scenes while in Jason Talley’s portraits one can sense both the erotic and the emotional. By way of contrast Karl Koett demonstrates an ability to capture nineteenth-century solidity and earthiness, elements far removed from the whimsicality of Caitlin Hurd’s animals in flight. In a further contrast, James Adelman’s methodically detailed portraits are Presque vu on canvass, leaving the viewer on the brink of recognition, wishing desperately to have the darkened scene thrown into light. Maya Brodsky’s paintings play on the mind’s struggle to define time, while Dina Brodsky’s work reconciles the simultaneous presence of textures, tones, and colors of the past in a distinctly contemporary form. Tun Myaing has captured his models in motion at a point in time, but the streaks running from the canvas edge intimate that motion and time continue. Finally, Ke Feng’s works are made from an algorithm of the artist’s creation, translating the late 16th century Chinese text of Journey to the West into ethereal landscapes.

Adelman

Adelman

The pleasure of poetry lies in ever-changing voices and themes operating within flexible boundaries; the reward of this exhibition is, we hope, different creative energies working both within and beyond standard space, engaging the viewer as poetry engages the listener. The effect of “Poetry of Space” is the visitor’s moment of discovery as the exhibited works show him how his mind unconsciously understands time, space, and memory together as a single faculty. —Peter Skinner

Artana encourages home or office art consultations. For a complimentary private appointment, please contact Artana’s Director Heather Roy at 617-879-3111.

Featured Listing
1 Franklin St. #2403, Boston, MA Midtown Boston, $3,250,000
1 Franklin St. #2403, Boston, MA
Midtown Boston, $3,250,000
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