Last week, I had a client looking to buy in a property currently under construction. We took a look at three great projects, all within walking distance of one another, in the Back Bay / South End area.
If you’re thinking of moving into Boston sometime over the next two years, you can’t do much better than buying a home at The Clarendon, a condo project currently under construction at the corners of Stuart and Clarendon streets, in Boston’s Back Bay.
According to a member of the sales team:
There will be 107 condos for sale. We anticipate closings to be in the fall, 2009.
We will have studios, one bedrooms, one beds plus study areas, two bedrooms, and three bedrooms.
The development will have a five star restaurant, a gourmet shopping market for delicious prepared foods and wines, a fitness center, a Clarendon Club room, an Assouline Library, a common outdoor terrace, 24-hour concierge services, and valet parking.
The Clarendon will be a full service luxury condominium development.
In addition, there will be approximately 140 apartments on the first fourteen floors, and a new Back Bay post office will be built next door (go 02116!).
The Related Companies and The Beal Companies are the developers. (Related did the Time Warner Center in New York City.)
Robert A.M. Stern is the (st)architect.
Here are some of my thoughts on the project:
I think the project works well for a owner-occupant. This is good, because I want more residents living in the city.
The pluses of The Clarendon are the location, the architect, the well-respected developers, the style of living, and the location (again).
The negatives are the rental units downstairs. Perhaps this won’t make it feel “unique” or “luxury” enough, to some? (There will be separate entrances for renters and owners. Well, shouldn’t there be???)
Also a negative, the prices. The “value” may be there, but $1,200 – $1,300 per square foot is still hard to swallow, for some.
Also, although the Columbus Center mega-complex next door may never get built, it’s sure a lot closer to finally commencing construction than it was even two-to-three years ago, and as an owner, I’d be concerned that I’d be dealing with three years of non-stop noise and disruption out my back door.
I’d also be concerned about views. In the front, I kind of know what I’m getting – the Hancock tower isn’t going anywhere, nor is the Liberty Mutual building. But, I don’t know what it’s going to be like, behind the building. The hotel / residences are going to block a lot of people’s views.
So, to reiterate.
At The Clarendon, it’s all about convenience, convenience, convenience – the location, the ease of getting onto the highways and to the market (45 Province is not within walking distance to any supermarket … and rich people eat, too).
Views are subject to change. There are some very close neighbors and a lot of obstructions, existing and potential. Your focus as a buyer should be on the amenities within the building, and the lifestyle.
Owner-occupants will be the primary residents of The Clarendon (‘cuz if you’re going to rent, wouldn’t you just rent one of the rental units on the lower floors?).
Most likely, for the typical buyer, what matters here is “Back Bay” “Back Bay” “Back Bay”.
And, for those who know New York City real estate, “Time Warner” “Time Warner” “Time Warner” and “Stern” Stern” “Stern”.
Contact me to find out more about Boston condos for sale or to set up an appointment call/text 617-595-3712.
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Updated: 1st Q 2018