The Great Boston Building Boom

(It’s Not Just the Seaport)

As the supply demand dynamic for urban residential real estate continues to be disrupted by Covid-19, we take comfort that medical experts agree that the pandemic will eventually pass and life will start to get back to normal. While it remains to be seen if consumers will quickly re-embrace urban living in the post-pandemic world, the downtown Boston market will be grappling with a threat that may have longer lasting repercussions – the great building boom.

The Insider

“The Insider” is a brief snapshot of our current market thinking and some highlights of what we see going on in the downtown Boston market. As always, our “terms of use” apply. We encourage you to subscribe.

In this issue:

  • Urban vs Green Acres
  • 771 Harrison Ave. (The Cosmopolitan) – Huge price cuts
  • 175 Beacon St. – Single family white elephant moves, $11.75 million – Well Bought
  • 2 Commonwealth Ave., unit 11C – Gets a quick contract
  • 75 Beacon St., unit 1 – $9.3 million lower level duplex – Well Sold

What’s Catching Our Eye

Batterymarch Group Shakes Up Boston Real Estate Brokerage

Real Estate Fiduciary Services

BOSTON – Buying and selling real estate can be tricky business. In Massachusetts, real estate sales agents routinely represent both the buyer and seller in the same transaction, a practice known as dual agency. According to real estate broker Andrew Haigney, “In a dual agency situation, the “double agent” is relieved of the fiduciary duty they may have owed one of the parties, and even better, the agent typically gets double the compensation.” Haigney calls these the high-five transactions – where the agents go back to the office and high five everyone. Haigney thinks it’s time that consumers have a level playing field.