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South Boston Lofts

319 A Street - Seaport District Boston's Newest Lofts Ready for 2016

 

The Seaport District's newest loft-style condo building, 319 A Street is a former "turn-of-the-century" leather goods warehouse reborn as luxury Boston lofts.

Boston Residential Group - behind such buildings as 360 Newbury - has adapted this brick-and-beam gem into 4 top floors of residential condominiums and a ground floor of retail and restaurant space, ready for occupancy in 2016.

Units range from 450 Square Feet to 1,052 Square Feet (Studios to Two Bedrooms), starting at $499,000.
The developer has made significant efforts to sustain the building's original charm and details (enameled brick, studded barn doors, chevron tiles), but includes sustainable & energy efficient features such as efficient lighting and recyclable materials throughout.
319 A's units will be utilize the factory-sized windows as the focal point to brighten the modern fits and finished throughout (zebrawood cabinets, honed black granite countertops).
Common amenities include a covered drive-through and fantastic common roofdeck with incredible views.

A Street is in the heart of the Fort Point Channel, which bridges the ever-popular South Boston's Broadway neighborhood and the true Seaport District. Local restaurants include: Sportello, Menton, Lucky's Lounge, Barlows, Blue Dragon, Row 34, Tavern Row, Drink, Bastille Kitchen. Other area highlights include: Boston Children's Museum, World Trade Center, Institute of Contemporary Art, and several retailers. 

For More Information, Contact:

Paul Santucci
Director of Boston Lofts
617-694-0004
paul@bostonlofts.com

Boston Renters: Can You Negotiate the Broker Fee?

Traditionally, two of the most difficult hurdles to jump over while helping a rental client find the right property in Boston: Pets and Parking. One thing I can assure you with over 10 years in the business: Bostonians are attached to their furry friends and their shiny metal ones. I'm still amazed at how many people decide to get a pet before they have a home of their own AND how many feel they "need" a car in Boston! (Hey - If you need a ride, just ask your friendly neighborhood real estate agent for one - we all have them!)

Over the past 10 years, we've seen another hurdle come into play - the "broker fee". In 2005 - according to MLS - about 1/2 of the loft rentals (I'm using lofts here as that's my specialty) in the Seaport District & Leather District combined were advertising that the landlord was paying the broker fee (to be split between the landlord's agent and the tenant's agent). In 2015, in both neighborhoods, I couldn't find ANY that the landlord was willing to pay the broker fee on, it was up to the tenant to pay the full fee (once again to be split OR just going to the landlord's broker directly).

I'm pretty sure the reason is obvious: supply and demand, right? The market is flooded with prospective tenants, and landlords know they can fill up their vacant spaces pretty quickly. Funny thing though: in 2005, the average days on market for those Seaport & Leather District Lofts: 35 days. in 2015....... 48 days. Ok, in fairness, there were only SEVEN lofts in those areas in 2005, and SIXTY in 2015 that have been rented through the first 8 months.

So, what's the story - why are tenants paying the fee and is it negotiable? Regardless of average days on market, landlords are still able to rent their units out quickly. There has been in influx of new buildings - especially in the Seaport District - BUT there's an abundance of renters out there, too. Last fall and into this spring, some of the new rental buildings were offering no broker fee (some didn't even need to market to brokers) AND a month or two off the rent to start. For the most part, those deal have dwindled. And remember this: if it's on MLS (and trickled down to sites such as BostonLofts.com, etc), it's most likely an individually owned condominium, NOT a unit part of a building owned by one entity. So, that landlord has to have the numbers make sense. If the landlord pays the broker fee, that landlord is essentially brining in 11 months of rent, rather than 12. Naturally, the flip side is that the tenant is paying 13 months of rent if they pay the fee.

Ok, so it's out there and listed as "tenant pays broker fee".... can you negotiate? It's simple - it comes down to the other prospects waiting in the wings, and how strong of a tenant candidate you are. No landlord will eat what's equal to a month's rent if they can rent to someone else, BUT, my suggestion is: ADD VALUE as a tenant. When you come to the appointment, have a Rental Application ready to go. You can get one easily on-line - it's the standard GBREB Rental Application - GOOGLE IT, OR ask the broker you are meeting to send you one in advance. Besides the Application, have proof of employment (letter from HR, recent paystubs, etc), and a recent Credit Report in hand. (Oh, and checkbook too, of course!). You'll make a better case by being prepared and ready to go, rather than saying you like the unit, but need a few days to get your info together. Nothing makes an agent happier than telling the owner that the tenant is interested and oh yeah - he or she came ready with their info and checks! "By the way, they want you to pay the fee or at least half, but they'll sign immediately upon approval" is an easier and more fruitful conversation that the landlord might agree to than "the tenant wants you to pay the fee, and didn't leave me any info, just shooting one across the bow". I guarantee you, you'll be paying that fee Mr or Mrs Tenant if the agent is telling that latter story.

In either case, make sure you are asking the broker out of the gates if the fee is included, how long it's been on the market (this might be your negotiating tactic), and any other fees that might arise (there are move-in move-out fees for some buildings.)

And don't hesitate to reach out to me to discuss your rental loft needs in the Boston area:

Paul Santucci
Director of Boston Lofts
paul@bostonlofts.com
617-694-0004

OH YEAH: here's one north of Boston with NO FEE: www.LynnLofts.com

Munroe Lofts, Lynn MA

Gorgeous Brick and Beam Penthouse Loft at Munroe Lofts in Lynn - NO FEE!

 

South Boston & Seaport Lofts Market Update 2015

Here's the latest data for South Boston / Seaport Loft Sales through 6/23/2015

2015 LOFT SALES

South Boston / Seaport District: Number of Lofts Sold: 24 Average List Price: $751,529 Average Sale Price: $750,104 Average Days on Market: 37 Average Price Per Square Foot: $632 Most Expensive Loft SOLD: $1,485,000 Least Expensive Loft SOLD: $385,000

Boston (includes all neighborhoods): Number of Lofts Sold: 159 Average List Price: $711,915 Average Sale Price: $709,925 Average Days on Market: 52 Average Price Per Square Foot: $614 Most Expensive Loft SOLD: $3,000,000 Least Expensive Loft SOLD: $272,000 ________________________________

2014 LOFT SALES

South Boston / Seaport District: Number of Lofts Sold: 64 Average List Price: $712,779 Average Sale Price: $696,992 Average Days on Market: 41 Average Price Per Square Foot: $587 Most Expensive Loft SOLD: $1,945,000 Least Expensive Loft SOLD: $257,000

Boston (includes all neighborhoods): Number of Lofts Sold: 320 Average List Price: $673,104 Average Sale Price: $665,753 Average Days on Market: 49 Average Price Per Square Foot: $559 Most Expensive Loft SOLD: $5,000,000 Least Expensive Loft SOLD: $194,000

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2013 LOFT SALES

South Boston / Seaport District: Number of Lofts Sold: 77 Average List Price: $583,062 Average Sale Price: $574,603 Average Days on Market: 44 Average Price Per Square Foot: $534 Most Expensive Loft SOLD: $1,945,000 Least Expensive Loft SOLD: $257,000

Boston (includes all neighborhoods): Number of Lofts Sold: 359 Average List Price: $618,741 Average Sale Price: $609,613 Average Days on Market: 46 Average Price Per Square Foot: $538 Most Expensive Loft SOLD: $4,150,000 Least Expensive Loft SOLD: $186,000

For more information on Seaport & South Boston Lofts, visit www.SouthBostonLoft.com

or contact Paul Santucci, Director of Boston Lofts, 617.694.0004 paul@bostonlofts.com

fp3 loft boston

The most expensive loft SOLD in 2015 in the Seaport District / South Boston through 6/23/15. 1800 SF 3 bed at FP3

 

Which Loft Sells First? 2 New Luxury Boston Lofts at 36 A St

Two almost mirror image luxury lofts at 36 A St in South Boston / Seaport are on the market this week. Constructed in 2006, 36 A is a boutique loft building at the cusp of West Broadway in South Boston, the perfect location for a quick hop to Boston's Seaport District and Fort Point Channel, but a commuter's dream too. Featuring amenities such as heated garage parking, common and private roof deck with panoramic Boston views, this is luxury at great price. The units were delivered with floor to ceiling windows (albeit on one side of the lofts, unless you bought a corner unit, then it's two sides!), high-end fits and finishes in the kitchens and baths. And one of my favorite features - EIGHT foot doors!

The Two Lofts on the Market (2C and 5C, so in the same "stack"):

  • 1370 Square Feet
  • 2 Bedrooms
  • 2 Full Baths
  • Garage Parking
  • Condo Fees: $580
  • Acid Stained Concrete Floors
  • Pet Friendly
  • BOTH priced at $849,000
For more information and private showing of both units at 36 A Street, contact Paul Santucci 617-694-0004 or paul@bostonlofts.com

36 A St South Boston Loft

Open Concept Living and Dining Room at 36 A Street's Luxury Lofts

 

 

 

 

 

 

 

 

 

HUGE Island, high end appliances and massive amounts of space to spread out here at the 36 A Street Lofts' Kitchen

 

 

 

 

 

 

 

 

 

Gorgeous Spa-like Baths at 36 A Street Lofts in South Boston

 

 

This Week's Boston Lofts for Rent Under 2K

Here's a quick look at three lofts for rent in the Boston Area - all under $2,000 a month.

Location: Munroe Lofts, Lynn  Price: $1400 Size: 780 Square Feet / Studio / 1 bath Parking: Street Info:  14' ceilings, "brick and beam" style loft, steps to commuter rail

Munroe Lofts for Rent Lynn

Munroe Lofts in Lynn - perfect "brick and beam" style!

Location: Foundry Lofts, South Boston Price: $1900 Size: 600 Square Feet / 1 Bedroom / 1 bath Parking: Street Info:  Renovated Kitchen & Bath, exposed brick, HUGE windows, fantastic west-side location

Foundry Lofts South Boston

Foundry Lofts, South Boston - converted factory loft for rent

Location: Belmont Lofts, Malden Price: $1700 Size: 1078 Square Feet / 2 Bedrooms / 2 Full Baths Parking: One Assigned Space Info:  Top-floor, converted schoolhouse loft, hardwood floors, A/C

Belmont Lofts for Rent Boston Lofts

Converted Schoolhouse Lofts at Belmont Lofts in Malden

For more information on these lofts, or any other rental lofts in Boston, contact Paul Santucci 617-694-0004 paul@bostonlofts.com

 

Premier Boston Lofts at Court Square Press

I often get asked what's my favorite loft building in Boston. Tough question to answer because Boston has an amazing array of lofts, and I've seen units in buildings that are what I would call the perfect loft, but the building may not be as attractive, or the area I wouldn't consider highly desirable.

However, one of Boston's loft buildings that scores high on several factors: quality of units, perfect combination of factory conversion & upscale finishes, gorgeous building with great amenities that Court Square Press shares with it's sister building the Macallen (gym, concierge, garage parking, gallery-like lobby, 20,000 SF rooftop terrace, etc), and a location that continues to grow in value (The Redline T is across the street!) is Court Square Press in the Seaport area of South Boston.

I had the pleasure of helping two buyer clients purchase there this year, and I was confident that both made a prudent decision, both for quality of living and value.

Here's the quick market sales data for sold units this year (so far) at Court Square Press, 9 West Broadway, South Boston:

  • Number of Lofts Sold = 14
  • Average Days on Market = 72
  • Average Price Per Square Foot Sold = $500
  • Average List Price = $644,000
  • Average SOLD Price = $619,000
  • Least Expensive Loft Sold = $360,000 (1st Floor, 1 Bed / 1 Bath, 673 Square Feet)
  • Most Expensive Loft Sold = $1,277,500 (Top Floor, 3 Bed / 2 Bath 2114 Sf, w roofdeck)
For more information about the lofts for sale at Court Square Press, please contact Paul Santucci, Director of Boston Lofts, 617-694-0004 paul@bostonlofts.com

Court Square Press Penthouse Loft at Court Square Press

Court Square Press Livingroom
"Brick and Beam" Livingroom at Sold Loft, Court Square Press
Courtyard Court Square Press
Courtyard of Court Square Press

Penthouse Loft at Court Square Press "Brick and Beam" Livingroom at Sold Loft, Court Square Press Courtyard of Court Square Press

 

South Boston Loft for Sale - Views, Parking, Beams!

881 East First in South Boston is a true loft building in Boston - meaning that it's a converted factory that's retained it's original unique qualities, while creating a fantastic living space. Included on the list of what's been restored are the heavy timber beams & posts, and the original factory hardwood floors. Located on the East Side, this South Boston Loft is a stone's throw from the water AND the revitalized Seaport District.

Beyond the originally restored qualities, this sunny, open concept / southwest facing loft also boasts:

  • 9 Factory Sized Windows
  • Custom Ash Kitchen
  • Bosch Appliances
  • Concrete Countertops
  • Skyline Views of Boston
  • Waterviews
  • Remodeled Bathrooms
  • Central A/C, Forced Hot Air Heating
  • Fantastic Layout
  • Deeded Parking
Price: $562,000 Size: 1362 Square Feet, 1 bed / 1 Bath
Condo Fees: $334.26
This loft is also featured in this week's Boston Herald Biz Smart's article on perfect holiday gathering spaces for sale in Boston!
For more information on this and other Boston Lofts for sale or rent, Please contact Paul Santucci, 617-694-0004 paul@bostonlofts.com

South Boston Lofts 881 East First - Original Beams frame this true loft

881 East First Boston Loft
Ash Kitchen w/ Bosch Appliances, Concrete Countertops
881 East First Livingroom
Original Beams, Restored Hardwood Floors & Factory Sized Windows  at 881 East First

881 East First - Original Beams frame this true loft Ash Kitchen w/ Bosch Appliances, Concrete Countertops Original Beams, Restored Hardwood Floors & Factory Sized Windows  at 881 East First