Just listed!

Ritz-Carlton Residence 33H at 2 Avery Street
Beautiful Southeast views out to Boston Harbor. 1600 sqft of luxury with 2 bedrooms and 2.5 marble baths. Exclusively listed at $2,295,000

AARE Ritz Sale #300…

Atlantic Associates Real Estate hit a major milestone today with the sale of 1 Avery Street unit 34A  in the north tower of the Ritz-Carlton Residences Boston Common , located on Avery here in Boston.

 

imageWith spectacular views spanning Boston Common and the Charles River, this 2242 SQFT luxury home at the Ritz Carlton was exclusively listed and sold by Kathleen Cook, Atlantic Associates Real Estate  at $2,850,000.

image

This spectacular  home was the 300th sale by Atlantic Associates RE at the Ritz-Carlton Towers since the luxury complex first opened on Avery Street in 2001.

Atlantic Associates Real Estate continues to be the leader in sales and leasing of luxurious Ritz-Carlton condominium homes in Boston’s vibrant Midtown location.

 

 

Realtor.com Prediction for 2016….

Well, we certainally hope so!

The Greater Boston real estate market will be one of the best in the country in 2016, according to a new analysis by realtor.com.

In the site’s “Top Real Estate Markets to Watch in 2016,” Boston came in at No. 10, with realtor.com predicting a 10 percent increase in existing-home sales and a 6.09 percent increase in median sales price.

Here is the complete ranking

1.Providence
2. St. Louis
3.San Diego
4.Sacramento
5.Atlanta
6.New Orleans
7.Memphis
8.Charlotte
9.Virginia Beach
10.Boston

photo-6.aspx

 

                     Residences at the Ritz-Carlton in Boston

 

All of the housing markets in the top 10, realtor.com noted, see 60 percent more listing page views on its website than average, and homes in the markets sell 16 days faster. The main factors contributing to that demand include growing household formations, a strong job market, low unemployment and large populations for the Millennial, Gen X and Silent generations.

 

1,2 and 3 Under Agreement…

The  Winter weather has been awful , the traffic a mess, and then there is the parking! But it hasn’t stopped us here at Atlantic Associates RE!

Lined up and ready to close are these three Ritz-Carlton Boston Residences:

2 Avery Street #25 H

1 Avery Street #17 B

1 Avery Street #34 D

And we have a new home just listed at 2 Avery Street!

Enjoy three dazzling exposures from this high floor “C” unit located in the desirable South Tower of The Ritz-Carlton Boston Residences. Watch the sun rise over Boston Harbor and set over the winding Charles River & Back Bay skyline. Walls of floor to ceiling windows showcase the amazing views and abundance of light.  3 generously sized bedrooms, all en suite. Spectacular entertainment sized, wrap-around living room and dining area.  Gourmet chef’s kitchen with Viking gas range, double wall oven, Sub-Zero refrigerator, Miele dishwasher & U-Line wine cooler.  Includes 1 valet garage parking.  Direct elevator access to Equinox, hotel lobby and restaurants.  Exclusive $3,695,000photo.aspx (1)

Preview our latest…

 

See us in the upcoming issue of Distinctive Homes

http://viewer.zmags.com/publication/bcf2bd2f

Coming Up….Another Ritz-Carlton Sale by AARE

Under agreement at 1 Avery Street.
image

Spectacular “D” floor plan high above the city on the 34th floor of the Ritz-Carlton! Enormous entertaining size living/dining room with wraparound floor to ceiling walls of glass overlooking The Charles River, Beacon Hill, the iconic gold dome of The State House, the Dazzling city skyline, and beyond to the harbor islands! Absolutely no obstructions, watch the sunrise and set from this unique floor plan. Sunny over sized eat-in kitchen with gorgeous breakfast bar overlooking the harbor to the East. Two wonderful en suite bedrooms with abundance of closet space and indescribable views! Includes guest powder room and full size washer/dryer as well as 2 deeded valet garage parking and guest parking. Exclusively listed by Atlantic Associates RE at $2,800,000

250 th Sale and Counting…

Recently, we just completed  our 250th sale at the Ritz-Carlton Residences in Boston. Since 2001, when the North and South Towers first opened with  the newly built condominiums for occupancy,   Atlantic Associates Real Estate has been the leading Boston real estate firm in sales and leasing of these luxury homes.

Now we are pleased to announce the sale of unit 36E at 2 Avery Street in the  South Tower.  Exclusively listed by Kathleen Cook, this stunning 3,246 square foot home was listed at $5,965,000. The sale closed and was recorded on November 14th.

With sale number 251 , we look forward to number 300…

unit 36 E ...stunning luxury home at the Ritz-Carlton Boston

unit 36 E …stunning luxury home at the Ritz-Carlton Boston

Meet and Greet…New DOR and New Residents…

If you missed last night’s social gathering in the South Lobby, you missed the chance to meet some new neighbors and our new DOR.

You were not there? Well I was and here is the proof…

OLYMPUS DIGITAL CAMERA

New Director of Residences,  Mr. James Zaratin (left ) and long time resident Mr. Steve Dexter (right). Below, Board President Mr. Mark Winkeller and new member Ms. Varda Konstam.

OLYMPUS DIGITAL CAMERA

Three Amigos

Three Amigos

Resident Ted Alexio and Resident Manager Barbara Gillman

Resident Ted Aleixo and Resident Manager Barbara Gillman

Everyone's favorite bartender from the Bistro, Sterling!

Everyone’s favorite bartender from the Bistro, Sterling!

OLYMPUS DIGITAL CAMERAMs . Rachel Winkeller and Mr. Steven Director

When You’re Hot ,You’re Hot…

A friend sent this along from a recent Bloomberg report….

Boston Booms as Young Workers Say No to Suburbs: Real Estate
By Nadja Brandt

     March 12 (Bloomberg) — The South Boston waterfront was
long a bleak area separated from the rest of the city by the
Fort Point Channel, its docks and warehouses recalling a faded
shipping past. Now, rechristened the Seaport district,
construction cranes dot the landscape as builders put up high-
end condominiums, offices and hotels in one of the biggest
neighborhood transformations in Boston history.
     “The waterfront is an overnight success that’s taken
nearly 30 years to come to fruition,” said Brian Kavoogian,
president and founder of Charles River Realty Investors LLC,
which has developed or acquired more than 20 million square feet
(1.9 million square meters) of real estate in the Boston
metropolitan area. “It finally reached a tipping point.”
     Boston’s real estate market, often overshadowed by the
skyscrapers of New York and government-fueled growth in
Washington, is seeing a boom in construction as developers
financed with cheap debt seek to profit from a growing workforce
of educated young adults and strength in the technology and
life-sciences industries. The office-vacancy rate is among the
lowest of major U.S. markets and tenants are occupying new space
at almost triple the national average.
     Construction spending in Boston increased an estimated 37
percent in the year ended June 30 to $3.83 billion, the most
since 2008, according to the mayor’s office. The market is hot
enough that some developers are considering building offices
without having landed anchor tenants.

                         Largest Project

     Work is planned or already underway on the $620 million
redevelopment of the original Filene’s department store property
in Downtown Crossing, a $200 million office tower for State
Street Corp. and the $800 million headquarters in the Seaport
area for Vertex Pharmaceuticals Inc. — at 1.1 million square
feet, the nation’s largest privately funded office-construction
project.
     “You have a city that has biotech and other thriving
industries, and some big-name financial services,” said John
Garth, managing director at Pembrook Capital Management LLC, a
New York-based real estate investor looking to finance apartment
construction in Boston. “It’s a huge draw for young people, and
that creates lots of demand for rental apartments as well as new
office space and other construction.”
     The fourth-quarter office-vacancy rate in the Boston metro
area was 10.9 percent, ranking it among the best-performing big
markets in the country and less than the 15.4 percent nationwide
average, according to brokerage CBRE Group Inc. Net absorption –
– the increase in occupied space — was 2.8 percent in 2012,
compared with 1 percent nationwide. That’s helping to spur
building while construction in much of the rest of the country
stagnates, said Arthur Jones, senior managing economist at the
Los Angeles-based company.

                            New Cycle

     “The fundamentals in Boston are favoring the move into
another construction cycle,” he said. “Vacancies are low,
rents are improving and job growth is steady.”
     Boston has attracted major office owners including Tishman
Speyer Properties LP and Blackstone Group LP. The largest U.S.
office real estate investment trust, Boston Properties Inc., is
based in the city and owns marquee properties such as John
Hancock Tower and Prudential Center.
     Greater Boston is home to 50 universities and colleges,
among them Harvard University and Massachusetts Institute of
Technology, which provide a pipeline for graduates into the job
market. In 2010, Boston had the biggest ratio of 20- to 34-year-
olds among the 25 largest cities in the U.S., at 35 percent,
according to a report from the mayor’s office.

                           Job Growth

     Boston’s cumulative job growth, led by scientific and
technical services, is projected to be 7.9 percent from 2011 to
2016, exceeding the state’s 7.4 percent, according to the
report. The city is home to financial firms such as Fidelity
Investments, the second-biggest U.S. mutual-fund company, and
State Street, the third-largest custody bank. Neighboring
Cambridge, which has also seen a spike in new development, hosts
employers such as biotechnology company Biogen Idec Inc. and
technology giants Amazon.com Inc., Google Inc. and Microsoft
Corp., said Peter Meade, head of the Boston Redevelopment
Authority.
     “In the last 24 months, suburban tech firms have been
looking to relocate into town,” said Andrew Hoar, president and
co-managing partner at CBRE/New England, a joint venture partner
with CBRE. “For many other markets it’s the other way around.
The young graduates in this town don’t want to commute.”

                        New Opportunities

     The race to catch up with the city’s growth is evident in
the Seaport area, where about 3 million square feet of buildings
is under construction, according to the redevelopment authority.
The waterfront neighborhood, for decades isolated by Fort Point
Channel and an elevated stretch of Interstate 93, has become
more accessible after the Central Artery/Tunnel Project rerouted
the highway below ground. Known as the Big Dig, the 15-year-plus
project was completed in 2007 after being plagued by delays and
cost overruns.
     “The opening up of areas like the waterfront is expanding
opportunities to have developments occur in a way we have not
seen in many years,” Joseph Fallon, founder and chief executive
officer of Fallon Co., developer of the Vertex buildings, said
in an interview at his office in the Seaport, behind him the
expansive view of Boston Harbor — and cranes.

                            Fan Pier

     The neighborhood, long targeted for growth, was slow to
develop. Fidelity Investments and Drew Co. built the Seaport
World Trade Center exhibition center there in 1986, joining
Anthony’s Pier 4 restaurant, a local landmark. A larger-scale
overhaul was hampered by the lack of infrastructure, a common
vision for the area and economic downturns, according to the
redevelopment authority’s deputy director for planning, Richard
McGuinness. Development of the district has been a top priority
of Mayor Thomas Menino during his almost 20 years in office.
     Fallon plans to complete the two Vertex structures in the
waterfront area by the end of this year and has an adjacent
parcel that may accommodate a third building. It will build a
residential project if Vertex doesn’t exercise the option to use
the land, Fallon said. The developer’s other projects in the
Seaport neighborhood include a condo building and a 360,000-
square-foot office for law firm Goodwin Procter LLP, both of
which will break ground this year.

                      Exciting Neighborhood

     Vertex, which has added more than 500 employees in
Massachusetts in the past five years, is currently based in
Cambridge. The company was attracted to the Seaport’s proximity
to Logan Airport and different types of transportation, as well
as its mix of new businesses settling into the neighborhood,
said Zach Barber, a spokesman for the drugmaker.
     “The site and the neighborhood was exciting for us to be
an anchor tenant in,” Barber said.
     New restaurants are popping up, such as Blue Dragon, an
Asian eatery from Ming Tsai, host of the PBS cooking show
“Simply Ming.” The outdoor Bank of America Pavilion showcases
music events, while a convention center, completed in 2004,
draws a regular stream of visitors, as does the Institute of
Contemporary Art, which relocated from the Back Bay in 2006.
     Drew Co. is building Waterside Place, a $120 million mixed-
use project in the Seaport area that it expects to complete by
year-end. It will include apartments, offices for startup
companies and ground-floor retail, according to the authority.

                          Skanska Plans

     Skanska USA, the American division of Stockholm-based
construction and engineering firm Skanska AB, in December
acquired a parcel of land in the Seaport district from Morgan
Stanley for $33 million and is planning an office building to
accommodate spill-over demand from low-vacancy areas like East
Cambridge, said Shawn Hurley, executive vice president. The
company would build even without having a tenant signed first,
known as speculative construction.
     “At this point we’d go ahead with a spec project,” Hurley
said in an interview at Skanska’s Boston office. “The office
market in East Cambridge is very healthy and has very little
vacancy. This area becomes an alternative.”
     The risk of the accelerating growth in areas like the
Seaport and Cambridge is that rising rents may drive tenants
back into the suburbs, according to a fourth-quarter report by
Cassidy Turley. In the Seaport, office rents for top-quality
buildings have risen to $54 a square foot from $48 a year ago,
putting rates on par with the historic Back Bay area, the
brokerage said.

                         Less Affordable

     “While tech companies and startups are primarily
responsible for South Boston’s renaissance, we are watching to
see what happens when their leases are up for renewal,” Cassidy
Turley said. “The Seaport may no longer be the affordable
option it was even just 18 months ago.”
     The construction isn’t solely in the Seaport. The Longwood
Medical and Academic Area also has seen an increase in
construction, driven by the expansion of medical facilities in
the neighborhood. A partnership headed by local builder National
Development broke ground in June on the $350 million Longwood
Center, a research and development center with Dana-Farber
Cancer Institute as anchor tenant.
     New York-based AREA Property Partners LP and CV Properties
LLC of Southport, Connecticut, are building One Channel Center,
the 500,000-square-foot office for State Street in the Seaport
neighborhood. AREA expects to complete the project by July 2014,
according to Chief Executive Officer Lee Neibart.

                        Downtown Crossing

     Millennium Partners is slated to redevelop the Filene’s
department store property in Boston’s Downtown Crossing into an
office and retail structure and build a new mixed-use tower with
about 500 residential units next to it. The New York-based
company took over the project from Vornado Realty Trust in 2012
after it had stalled for four years, and plans to start
construction “before the summer,” according to Anthony
Pangaro, who is overseeing the project for Millennium.
     “People want to be in diverse neighborhoods, with lots of
activity,” Pangaro said in his downtown office, filled with
renderings of the project and maps of the area. “The waterfront
is one of those areas, and downtown is incredibly diverse.”
     Pangaro said he is in talks with possible tenants in the
“creative sector” for the 150,000 square feet of office space,
which in turn would provide for construction funding for the
rest of the project. He would proceed without a committed
tenant, he said.
     Companies are eager to finance new projects, according to
Pembrook’s Garth. His firm, which last year spent about $140
million to finance 16 real estate projects in the U.S., is
actively seeking multifamily construction deals in Boston.
     “A fully entitled development in this city tends to
attract a lot of interest from potential lenders, including
first-mortgage money and mezzanine debt, because of the strong
and steady demand,” he said. “The bottom line is lenders feel
safe lending into this market.”
     John Drew, founder of Drew Co., said “the biggest national
institutions” are looking to invest in Boston. He has been
involved in projects in the city for 30 years.
     “I’ve been through a few cycles and the robustness of the
recovery and construction activity here today is more than I
have seen in the past,” he said. “It’s all this money
following projects here. The access to capital here today is
pretty phenomenal.”

© Copyright  2011 Atlantic Associates Real Estate   ~   All rights Reserved   ~   Website by Middlesex Design

LOGIN