Developers will tell you that these deed restrictions are good for the unit owners because it keeps speculators out – that’s pure nonsense. …
Category: Back Bay
In general, the valuation of higher-end properties can be elusive – they are less liquid and brokers often intentionally overprice properties to secure listings. …
Real estate development has been the city’s financial engine of growth for generations – is the current administration killing the golden goose? …
He states that they’re expensive to maintain, promote crime, and he cites “abundant evidence to show that high buildings make people crazy.” …
At current valuations, these buildings are no longer viable to operate as rental properties. Savvy owners recognize this... …
Realtors coached their clients to throw all caution to the wind with respect to winning bidding wars; we fail to see how this latest sales pitch is any different. …
In our experience, people don’t enter into selling agreements with brokers just for the fun of it – that’s like driving down 20 miles of bad road just for kicks and giggles. …
Developers love branding – you get a premium when you’re selling the “St. Regis” vs “150 Seaport Boulevard.” …
While developers are clearly sitting in the crosshairs of what may be the perfect storm, we see pockets of attractive value in traditional blue chip neighborhoods. …
Wasn’t it just a few weeks ago that the large firms were lecturing home buyers on “how to win a bidding war?” And what suddenly happened to the shortage of housing that we’ve heard so much about? …
Of the 11 condominium units listed in MLS at or above $10 million, many are seeking record high prices. We don’t see them as record nice properties. More importantly, we see meaningfully more attractive properties at substantially lower prices. …
New construction sales in boutique Back Bay buildings often leave us scratching our heads. Buyers routinely pay substantial premiums over the prevailing market, with $3,000+/sf now commonplace. In our commentary, we often ask – how will the market receive those overpriced units when they come up for resale? A look at what’s going on with unit 2 at 305 Commonwealth Avenue gives us some insight. …
