Eric Shabshelowitz

Apartment Spotlight: Quick Move-In and Half Fee

In need of an apartment?  Here are a few featured apartments that are available for immediate move-in and at half of the broker's fee!

 
 
 
AVAILABLE NOW!!!  Wonderful, completely gut-rehabbed, with all new appliances.  One bedroom unit with large, sunny windows, refinished hardwood floors and an abundance of closet space.  Electricity, Heat and Hot Water included in the rent!  Please contact Andrew Bemben with any questions or to set up an appointment for this Saturday, 10/20 from 10:00 A.M. - 3:30 P.M.

 
 
 
AVAILABLE NOW!!!  This spacious, sun-filled one bed is a great space for being in it all! As Back Bay maintains to be the neighborhood loaded with entertainment, food, shopping and anything you can fathom. Nestled in a superb location, located on Newbury and Fairfield St. This wonderful unit has a very open living room and large separate kitchen with granite counter tops. Heat and hot water included in the rent as well as a washer/dryer combo in the unit!  Please contact Andrew Bemben with any questions or to set up an appointment for this Saturday, 10/20 from 10:00 A.M. - 3:30 P.M.
 
 
 
 
AVAILABLE NOW!!!  Live in this freshly painted, floor-thru two bedroom in Historic Bay Village! Right in the middle of the South End, Back Bay and Theatre District.  Location cannot be more convenient to transportation, the grocery store/markets, entrance/exit ramp to I-90 and laundry services.  This spacious unit has a very open living room with two, equal, large-sized bedrooms.  Please contact Andrew Bemben with any questions or to set up an appointment for this Saturday, 10/20 from 10:00 A.M. - 3:30 P.M.
 
 
 
 
AVAILABLE NOW!!!  Newly renovated, two bedroom, garden floor-thru on Beacon and Hereford St.  New hardwood floors throughout, brand new kitchen with dishwasher and a new bathroom as well!  There is even a private outdoor patio to enjoy the Southern sun!  Location is great for being so close in proximity to the Charles River Esplanade.  There is common laundry right near the unit with hot water included in the rent!  Please contact Andrew Bemben with any questions or to set up an appointment for this Saturday, 10/20 from 10:00 A.M. - 3:30 P.M.
 
 

 

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Relocating to Boston?

There are still some great apartments out there. 
 
Whether moving for a job transfer, new employment opportunity, or trying to get off a friend or parent’s couch, there are a variety of apartment options to explore.  Decide what you want your commute to be - walk, transit, bike?  What is your budget?  How much space do you really need?
 
Benefits:  Live in one of Boston’s many desirable neighborhoods and walk to cafes, parks, music events, and join local community happenings to meet people and get involved!
 
Benefits:  Usually a shorter term lease and flexibility, just bring a suitcase and a toothbrush! This is 
perfect for consultants, grad students and the undecideds!
 
Benefits:  Guaranteed elevator, central air, most times a doorman, gym, common outdoor space, and many other unique life experience perks!
 
Search our website and contact an experienced rental agent for the most up to date listings and location advice.
 
 

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What is a Homestead and Why Should You File a Homestead?

Buying a home doesn’t just involve finding a home that you love.  There are certain steps you can and should take to protect yourself – not just during the transaction itself, but also continuing thereafter.  One of those important protections is called a “Homestead”.  Here is a brief overview of homesteads from Attorney Joe Anderson of Crowley & Cummings:

It is indeed a rarity that someone owns and resides in a home as their principal residence in Massachusetts and has not filed a homestead.  Nonetheless, you do not want to be the unfortunate person left in the cold when it comes to maybe the only fraction of a real estate closing that actually protects the homeowner (as opposed to the 70 other pages of documents and disclosures that only really protect the mortgage lender).  There is a shortage of things in life that are too good to be true, but the Massachusetts homestead is akin to having a professional mechanic replace your brakes for free, if not much better.  In the real estate world and estate planning arena, the greatest financial benefit for your dollar spent might be the homestead.  And when I say dollar, it only costs $35.00 to record a homestead.   

A homestead estate exempts a certain amount of equity in a home which is used as a principal residence from attachment, seizure, execution on judgment, levy and sale for the unsecured debts of the owner of the home.  Exceptions to this protection would include federal, state and local taxes, assessments, claims and liens, liens recorded prior to the creation of the homestead estate, mortgages, orders of the probate court for support, a levy or sale for ground rents (where the homeowner does not own the land) and an execution from a court to enforce a judgment based upon fraud, mistake, duress, undue influence or lack of capacity.     

By law, merely by owning a home and using it as a principal residence entitles the owner to automatic homestead protection of up to $125,000.00 of the equity therein.  However, by actually filing a Declaration of Homestead at the applicable registry of deeds increases the equity protection to up to $500,000.00. 

Under the Massachusetts Homestead Act, the homeowner’s equity is protected for up to one year after a sale of the home, and, if the home has suffered a casualty that results in the payment of insurance proceeds, then the insurance proceeds are protected for up to two years, in order to allow the homeowner time to acquire a homestead in a new (or reconstructed) home.  The Declared Homestead protects the owner, owner’s spouse and minor children.  Even upon the death of the owner, the protection continues for the spouse and minor children.        

Please don’t hesitate to contact me directly regarding your interest in the Massachusetts Declaration of Homestead.  There are some technical requirements, so your best bet would be to arrange to have a Massachusetts attorney draft the appropriate filing.  We can either a) confirm there is an existing homestead filed at the registry of deeds and email you a copy; or b) prepare a homestead for you, free of charge (provided you pay the $35.00 recording fee charged by the registry of deeds).” 

Thank you, Attorney Joe Anderson!

 

 

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Boston Office Rents: Back Bay vs. Financial District

Searching for office space in Boston?  Whether focusing on the Back Bay or the Financial District, businesses considering one of them generally ask us about options in the other.  The Back Bay and the Financial District each have their advantages.  Here is a quick comparison of the rent and vacancy rates of the office markets in each of them:

Back Bay


Source: CoStar


Source: CoStar

 

Financial District


Source: CoStar


Source: CoStar

 

You can start your search for Boston office space for lease here.  As always, don't hesitate to contact us with questions or for help finding your new office space.

 

 

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Valuable Tips for a Fall Sale

Find yourself listing your home on the market and concerned about the season?  Use these effective methods for a successful sale:

1.  Clean out closets and cupboards so buyers have easy access and space can be easily viewed.

2.  Move extra pieces of furniture, equipment, and out of season clothes to storage.  Can people walk around comfortably and enjoy the space?

3.  Clean all windows and move those window treatments aside to let optimal light in.  Check all lightbulbs and be sure they work and match color for evening showings

4.  Take a good look at the front entry, common area, yard, deck, and any outside the home areas and spruce up!  Add some seasonal items and look at the first impression buyers will get.

5.  Most importantly, engage an experienced real estate broker who will commit to multiple public and industry open houses.  These will work in your favor!
 
As always, please don't hesitate to contact us for assistance.  You can also fill out our home evaluation form and we will prepare a complimentary price analysis and recommended marketing strategy for you.
 
 

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Pools in Boston

Massachusetts recorded record temperatures this Summer and the Fall looks like a warm one.  If you can’t get to the beach or prefer to stay in the city but still like to cool your toes, there are many terrific condo and rental buildings with pools!  Most neighborhoods have at least one property with a private pool, a hotel or two with possible pool memberships and an outside public pool as well as the YMCA. Here are a few options to consider when scouting your next move:

Downtown - 45 Province offers a year-round heated outdoor pool.
South Boston - McAllen and Court Press building condominiums share an outdoor heated pool, and you also have a beach nearby.
Waterfront - Harbor Towers, which consists of 2 buildings on Boston Harbor with a resort-style pool, grills and great lawn areas. 
Charlestown - Parris Landing has a heated pool and fun grilling area.
Cambridge - Atmark is a luxury rental complex with a solar heated pool, and Avalon-North Point has an indoor heated pool plus there's a cool shopping mall in walking distance.  Regatta Residences has an indoor lap pool, and many of the upper floor units offer unbeatable views of the July 4th fireworks over the Charles River.


Pool at 45 Province
 
Why not enjoy Summer in the City?!  Let us help you find an enjoyable place to live!
 
 

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Update on Boston Business Trends

One economic indicator that many businesses and real estate investors monitor is employment.  The Boston Planning & Development Agency recently published a report titled “Trends in Boston Business Establishments & Payroll Employment”, which provides some useful data.  Here are some highlights:

  • In 2016, Boston’s total payroll and non-payroll jobs increased to 794,038, up from 669,423 in 2010.  Total jobs are forecasted to reach 829,000 by 2030.
     
  • In terms of job density, the commercial core of Boston has the highest density.  Downtown/North End had 163,845 jobs per square mile in 2015; Mattapan, by contrast, had 981 jobs per square mile.
     
  • The “Health Care and Social Assistance” industry has the most payroll jobs in Boston, with over 140,000 in 2016.  The second highest is the “Professional, Scientific and Technical Services” industry at 80,524.

As it is based on census data, some of the analysis is a little stale (most of the data is from 2015-2016).  However, it does support that Boston continues to add jobs and is expected to do so for the foreseeable future.  Continued job growth is good for real estate investors, as those employees will need places to live.  It is also good for businesses, as those employees could be consumers of their goods and services.

There are a number of strategies investors can employ when deciding what opportunities they want to pursue.  Contact one of our investment property experts to formulate a plan and begin executing on it. 

Or, dive right into your search!  Whether you are looking for multifamily or commercial, you can start your search for investment property in Boston here.  

 

 

Cabot Field Trip at Echelon Seaport!

Sales agents from Cabot & Company Real Estate enjoyed a private experience tour of the fantastic and expansive new construction property Echelon Seaport on Seaport Boulevard consisting of luxury condominiums with every lifestyle amenity offered and more!  

Be part of the exciting life in the Seaport as more shops and restaurants join the new Icon movie theater, LL Bean, Bonobos, and loads of green space fun!

 

 
 

Thank you to Patrick Cutter and Cottonwood staff for the comprehensive tour!

Pricing and floor plans available, be the first, contact us for information about Destination Living! 

 

 

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Where in Boston Have Rents Increased the Most?

For multi-family investors, it is important to know what areas in and around Boston are seeing the highest rent increases.  Whether it is due to an increase in renter demand or a shortage of supply (or a combination of the two), these are generally areas worth exploring.


Data Source:  MLS Property Information Network, Inc.

The chart above shows the areas that have seen the greatest average percent increases in rent since 2015.  The Seaport District is somewhat unique; it is a relatively new market, so much of the increase is likely due to the fact that there were not many options in the Seaport 2015 compared to the new, luxury apartments that have recently been built.

Many of the other top performers – Mission Hill, Hyde Park, Roslindale and Watertown – abut prime areas that are continuing to get more expensive.  As renters continue to get priced out, we expect that this trend will continue – particularly near transit hubs, such as MBTA subway and commuter rail stations. 

For additional market data on Boston investment property or for help finding the right opportunity for you, contact Eric Shabshelowitz.  

Interested in exploring what is currently on the market?  Check these quick searches: "Core" Multi-Family Search and "Emerging Neighborhood" Multi-Family Search.

 

 

Four Seasons One Dalton Street: Sneak Peek

Four Seasons One Dalton hard hat tour with vests, goggles, gloves and construction boots!  (See our photos from the 54th floor)  Cabot & Company was treated to an exhilarating tour of the much anticipated luxury hotel and private condominium property at One Dalton Street, which will be 61 stories tall when complete.
 
  
  
 
Some of the exciting state of the art amenities include a Private Resident’s Club Lounge in the sky with a TV lounge, full bar, kitchen and terrace.  The building also offers a salon and spa, fitness center, steam rooms, golf simulator room with wet bar, private theater room, indoor lap pool, family activity center and more!  The contemporary homes will have floor to ceiling windows, custom Semantic cabinetry and marble baths.  
 
Thank you to Sarah Ragsdale and Gabby Guagliano Baron for a great day!!
 
Contact us for detailed unit information and pricing.  
 
 
 

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