South Boston Condos Still Hot
The South Boston real estate market continues to be one of the hottest in the country. Condo sales & apartment rentals still are incredibly strong in one of the nation's most urban neighborhoods.
Even when the market was cooling down in 2008, the average market time for condos in the first half of 2008 was 108 days, compared to 146 days in 2007. The average list price for the first 6 months in 2007 was $465,009, and the average sale price was $449,356. The lowest priced unit to sell in the first half of 2008 in South Boston was a 700 s.f. 1 bed on E. Eighth Street for $133,500, and was on the market for 154 days. The highest price unit to sell was a 2-bed at he Macallen Building for $1,025,000. This unit was only on the market for 1 day. The Macallen building is one of South Boston's newest condo developments, and condos in the building often sell for over $1,000,000.
The Seaport District continues to be one of Boston's fastest growing markets, as many of the old factories have been converted to ultra modern luxury loft developments. There has been rumors that the Park Lane Seaport Apartments on Northern Ave plan to go condo, however right now there has been no announcement on such plans.
Boston's Seaport District is Booming
Boston's Seaport District, also known as the South Boston Waterfront, has experienced a renaissance the last few years. Just a few years ago, the Seaport District was a mainly commercial area, filled with fish companies, piers, docks, abandoned factory buildings, and sea gulls. There were 2 main reason to go to the Seaport District a few years ago. One was the Spirit of Boston cruise line, which is still in operation today. The other was Jimmy's Harborside, a famous restaurant in Boston that just unfortunately shut down for good. Now, there are tons of reasons to visit the Seaport District! The Bank of America Pavilion is one of Boston's largest concert venues, and features some of the biggest names in the music industry past and present. The Museum of Contemporary Art is one of Boston's most popular museums, and is located in the Seaport District.
There is also brand new convention center, which is one of the largest and modern on the East Coast. There have been multiple luxury real estate developments built, and in progress in the Seaport District. Many of the factory buildings along the Fort Point Channel have been converted into ultra modern luxury loft developments. Channel Center, FP3 Lofts, Dockside Place, and 21 Wormwood Street are just a few of these buildings. Many of the loft buildings include 24hr concierge, fitness center, and indoor garage parking. The lofts also offer some of Boston's largest spaces, and at very good prices compared with the Financial District only a short walk away. The Park Lane Seaport apartments have been a huge success, and is now one of the most coveted luxury apartment buildings in the downtown Boston area. One bedrooms in the Park Lane Seaport start around $2000 for a 1 bedroom, and $2800 for a 2 bedroom.
The building features a 24hr concierge, roofdeck, and amazing views of the Boston Harbor. Fan Pier is the newest of luxury developments on the way. Fan Pier is a $3 billion dollar real estate development and will include a 5-star hotel, residential units, commercial space, restaurants, and shops. Fan Pier will also include a marina that will accommodate yachts up to 200 ft. There has also been many luxury hotels built in the Seaport District the last few years, such as The Seaport Hotel, and Marriot Renaissance. The real estate boom continues to go strong, as there are more plans to develop the neighborhood.
Review of the Park Lane Seaport Apartments in Downtown Boston
The Park Lane Seaport is one of Boston's newest & nicest luxury apartment buildings. It is located on Northern Ave in the Seaport District. The building features a 24hr doorman, roofdeck, state-of-the-art fitness center, elevators, conference room, indoor garage parking, and amazing views of the Boston Harbor & Downtown Boston skyline. Some of Boston's best restaurants are within short walking distance.
The Legal Seafood Test Kitchen, aka "LTK", is located in the building. The Spirit of Boston cruise line is within short walking distance away. The MBTA's Water Taxi is right across the street, and goes a straight shot to Logan Airport, North End, and the Charlestown Navyyard. The Silver Line is behind the building, and is only 2 stops away from Boston's largest train station -- South Station.
The Financial District is literally within walking distance. The units feature wall-to-wall carpet, floor-to-ceiling windows, black GE appliances, central air, granite kitchen countertops, large closets, and laundry in the unit. Studios in the Park Lane Seaport start around $1800 for a studio apartment. 1 bedrooms in the building start around $1900. 2 bedrooms in the building start around $2,600 for a 2 bedroom 2 bath. 3 bedrooms start around $4,500.
Pets are ok in the building with some restrictions. Heat & hot water is included. The Bank of America center is across the street as well, and is one of the largest concert venues in Boston. The Seaport District, aka the South Boston Waterfront, is one of the most coveted waterfront locations in Boston. The Park Lane Seaport Apartments is currently a rental-only building, however there have been rumors that units might go up for sale soon.