Skinny Building Sold To Emerson

From Bankers and Tradesmen

Emerson College has paid $24 million to buy a Tremont Street property where a development team planned to build a luxury condominium tower overlooking Boston Common.
The parcel at 171-172 Tremont St. currently houses a 5-story, 17,752-square-foot office building, and Emerson said today it plans to begin interior renovations within a year. The building will be renovated for office space in the short term, said Art Mombourquette, Emerson’s senior assistant vice president of real estate.
“It gives us some flexibility with some of our existing programs to take advantage of the space with some modest renovations,” Mombourquette said. “The building is in fairly good condition so we don’t see an extensive scope of work there.”
Currently vacant, 171 Tremont St. was most recently used as a sales center for the Millennium Boston Tower and was acquired by the previous development team in 2014 for $16.4 million. Newmark Knight Frank’s Tom Greeley represented the sellers in this week’s transaction.
The Boston Planning and Development Agency in 2016 approved plans for a 155-foot-tall residential tower.
Developer 171 Tremont LLC twice scaled back submitted plans for structures as tall as 355 feet on the 4,438-square-foot parcel amid neighborhood opposition. Designs by Boston-based Elkus Manfredi Architects called for 3,200-square-foot floorplates, with each condo occupying an entire floor.
Emerson College has been steadily developing residence halls in the Downtown Crossing area over the past decade, adding more than 1,200 dorm rooms at a pair of Boylston Street properties and 555 Washington St. and a 450-room dorm at 1-3 Boylston Place. It’s also housing students at a former hostel at 12 Hemenway St. in the Fenway through 2019 during renovations of its Little Building dorm in the Theater District. That will enable the school to house 70 percent of its students on campus.

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

If You See Something, Say Something…

The Friends of the Public Garden are organizing a letter writing campaign from residents who have witnessed or experienced safety issues on the Boston Common or Public Garden.
The goal is to improve Public Safety in our neighborhood.

If you have seen or experienced any safety issues on the Boston Common or Public Garden, please email a letter describing the specific circumstances and location to:
Liz Vizza, Friends of the Public Garden

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.


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.



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)

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

New All -Time High…

for pending home sales in April…

As an active member of the Massachusetts Association of REALTORS, as well as the National Association of Realtors, we get the new first and thought I should share the good news with you.

Biggest annual increase since final month of 2010 home buyer tax credit
WALTHAM, Mass. – May 14, 2013 – The Massachusetts Association of REALTORS® (MAR) reported today that more pending home sales were reported in the month of April than in any month since January 2004 when MAR began tracking this data. While not an all-time high, condominium pending sales hit their second highest point. Pending sales figures (also called homes under agreement) are a leading indicator of actual housing sales in Massachusetts for the following 2-3 months.
“Buyers came out in force to make offers on the limited number of homes for sale in April,” said 2013 MAR President Kimberly Allard-Moccia, broker-owner of Century 21 Professionals in Braintree. “While the activity is positive, we need more homes on the market to make sure prices don’t spike up too quickly, and as a result, push people out of the market because of the high cost of homes.
The number of single-family homes put under agreement in April was up 32.8 percent compared to the same time last year (5,948 homes in 2013 from 4,478 homes in 2012). This is the most homes that have gone under agreement in any month that the Association has available data (starting in January 2004). This is also the biggest monthly year-over-year increase since April 2010, the final month to take advantage of the home buyer tax credit. On a month-to-month basis, single-family homes put under agreement were up 38 percent compared to 4308 homes put under agreement in March 2013.
The number of condos put under agreement in April was up 37.4 percent compared to April 2012 (2,435 units in 2013 from 1,772 units in 2012). This is the 2nd most condos to go under agreement since March 2005 when there 2,501 units to do so. On a month-to-month basis, condos put under agreement went UP 29 percent from 1,888 units in March 2013. 
About Pending Sales:
The tracking of signed purchase and sales agreements (also called “pending sales”) provide reliable information about where the real estate market is heading in coming months. 
A pending sale or a sale “under agreement” is when the buyer and seller agree on the terms of the sale of a home and have a signed purchase and sale agreement, but have yet to close and be recorded as such.  MAR is the only organization which compiles this statewide information from Multiple Listing Services each month.
The Data:
Monthly pending (or under agreement) data and closed sales data comes from the three REALTOR®-affiliated Multiple Listing Services in Massachusetts. They are the Berkshire County Multiple Listing Service, Cape Cod & Islands Association of REALTORS® Multiple Listing Service, Inc.; and MLS Property Information Network, Inc. The data is compiled by 10K Research and Marketing, Inc. and updated each month. As a result, previous data may change after the reports have been run.
About the Massachusetts Association of REALTORS®: 
Organized in 1924, the Massachusetts Association of REALTORS® is a professional trade organization with more than 18,000 members.  The term REALTOR® is registered as the exclusive designation of members of the National Association of REALTORS® who subscribe to a strict code of ethics and enjoy continuing education programs.

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