Blog :: 2019

How Much are Rents for Retail Space in Boston? (Summer 2019)

Rents for retail space in Boston have generally been increasing over the past 10 years, and the amount of vacant space has decreased.  However, over the past few months, we have started to see a slight pull-back in retail rents.  This has been more evident in some areas than others.  The chart below shows the 10 year trends for the Boston market area as a whole, which stretches well beyond the City.
 


The table below highlights the current market conditions in a few areas in and around the City of Boston.  The average asking rent across these areas is $49.47 per square foot (per year).  While the table presents area averages, it is important to note that there are sections within each of these areas that command higher rents.  For example, asking retail rents on Newbury Street can approach (and exceed) $200 per square foot in some cases; though there are certainly spaces available well below that level.  The reported vacancy rates throughout most of the City remains low - trending below the vacancy rate for the Boston market area as a whole.
 

Note that these charts and statistics were compiled with data from CoStar.  If you have questions about the Boston retail market, need help finding tenants for your property or are a business in need of finding a new retail space for your business, please contact Eric Shabshelowitz.


 

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Memorial Day Real Estate Trivia

General & President “Ike” Eisenhower Slept Here

It was September 21, 1953, seven weeks after an armistice ended the Korean War. Operation Moolah was in effect. Operation Moolah was a United States Air Force (USAF) effort during the Korean War to obtain (through defection from any Russian, Chinese or North Korean pilot) a fully capable Soviet MiG-15 jet fighter to deliver to America. The US had attempted to obtain a MiG for years because it was considered to be the best fighter aircraft of the 1950’s and Korean War. The performance of the MiG-15 outclassed and amazed its’ Western opponents.

That morning, North Korean fighter pilot No Kum Sok seized his opportunity to escape a dead end future in North Korea and find asylum in America. He climbed into the cockpit of a MiG-15 and flew it to Kimpo, an American air base near Seoul in South Korea.That same morning president Eisenhower flew out of Washington, D.C. to Boston before the reports about the MiG and the North Korean defector reached the White House.

Eisenhower stayed at the Annex to the Algonquin Club at 223 Commonwealth Avenue, Back Bay, Boston and was called by the White House that day and given the news “We got the MiG.” Eisenhower dictated in a personal and confidential letter to his longtime advisor and confidante, Walter Bedell Smith, Undersecretary of State “I am sorry I was not in Washington today to discuss the MiG incident with the entire staff.” He was not sorry, however, that he was staying on America’s grandest avenue at 223 Commonwealth Avenue, Back Bay, Boston.

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Boston Apartments that Take Pets... And You Can Come Too!

It’s that time of year again searching for a rental in Boston, however this year with your new addition of a puppy you are finding it more challenging to rent.  Don’t despair! There are plenty of pet friendly buildings with all the amenities your precious pet would need.  The plethora of luxury buildings that have sprouted up in the past few years welcome wet noses. 

Does your French Bull dog need to shed a few pounds or your new puppy has endless energy?  The Waterside in the Seaport offers an outdoor dog run. How do you keep up with your Yorkshire Terrier’s haircuts? No need to leave your building while residing at One Canal in the North End that offers a pet spa and dog park.  Wondering where your overly friendly Golden Retriever can make fast friends, no problem at 345 Harrison in the South End, they have a Paws Pet Park where your playful pup can find fast playmates.  Want to live downtown close to work and come home to check on your pets at lunch? The Kensington conveniently located on Washington Street offers a Pet Spa and lots of other amenities. 

Many of these buildings pay the broker fee so you can work with your favorite broker to help you navigate the rental process, but you don’t have to pay the broker fee. Win win situation. Call Cabot & Company and one of our rental experts can set up showings and provide information on Boston apartments at one of the many pet friendly apartments. 

For amenity lists, pet friendly apartments and location ideas contact Cabot & Company at (617) 262-6200 or visit our website www.cabotandcompany.com.

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Great windows in your new home?

Renters:
When renting a condo you may expect to have some kind of window treatments. Most landlords put the basic blinds or roller shades which might not be attractive enough for you. You can customize your apartment by adding color with curtains. Simple, inexpensive and easy to install curtains can be found at many different stores like Bed Bath and Beyond, Pottery Barn, West Elm or even on Amazon.

Buyers:
Choosing the right window treatments for your newly purchased condo can be overwhelming.  First, make sure to check with the condo association’s rules to know what are the dos and don’ts. Many managed buildings have scheduled window cleanings during the year. If you are interested in getting as much light as possible, select a window shade that allows light to come through. Being on a lower floor you might want to consider having a top down bottom up shade, so you can cover the bottom of the window for privacy yet allowing light into your place by having the top portion of the window completely open. There are many options, therefore you may want to have a window expert come and explain all the different possibilities; many of them offer a complementary consultation for new home buyers.

Shopping for a new home? Check out all our listings, the spring market is going strong and many new listings are added every week.

 

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Beat The Rush!

Looking for an apartment in Boston for your new job?  Or looking to relocate to a new place?  Thinking of moving when your lease is up?  If you have said yes to any of these questions, we are here to help!  If you have rented before in Boston you know that the market is extremely competitive, especially if your looking for rentals beginning in June or September.  You might find the perfect rental early in the game that checks all of the boxes, ultimately beating the rush, the competition and for you to stop worrying about the stress that goes into apartment searching.  Check out a few of our rentals below.
 

Back Bay | 86 Saint Botolph St. #13 | 1 BR 1 BA | $2,100


Top floor, one bedroom apartment that gets an abundance of natural sunlight and views. Located on Saint Botolph St. in the Back Bay, bordering the South End. Close to transportation, restaurants, shops and the grocery store; close to everything! Open kitchen with gas stove-top, and all utilities included in the rent. Very convenient location!

Please contact Andrew Bemben with any inquiries or to set up a showing this weekend!

 

Back Bay | 11 Marlborough St. #42 | 1 BR-Alcove 1BA | $2,395


Junior one bedroom on the 1st block of Marlborough St. No better location to live in the City than this block! Spacious studio / one bedroom with updated kitchen and bathroom, hardwood floors. Heat and hot water are included in the rent. Close to Green Line, Red Line, Newbury shops, Back Bay restaurants and the Boston Common and Public Gardens!

Please contact Andrew Bemben with any inquiries or to set up a showing this weekend!
 

Back Bay | 141 Beacon St. #5 | Studio 1 BA | $2,195


Spacious studio located off Berkeley and Beacon St. features hardwood floors throughout, classic Back Bay detail, high ceilings, kitchen w/ dishwasher/disposal. Plus, heat, hot water, AND electricity included!!

Please contact Andrew Bemben with any inquiries or to set up a showing this weekend!
 

Watertown | 31 Irma Ave. #3 | 2 BR 1 B | $2,175


Huge, sunny and spacious 2 bedroom with hardwood floors throughout. Renovated kitchen, private deck, central air, and laundry in building. One parking spot included in the rent. Ideal location with easy access to public transportation, restaurants, coffee shops, yoga studios and much more. Must See!

Please contact Andrew Bemben with any inquiries or to set up a showing this weekend!
 

South End | 220 West Springfield St. #1 | 1 BR 1 BA | $3,000


Parlor level, one bedroom with renovated open kitchen, Bosch and Fridgidaire stainless steel appliances and granite breakfast bar, high ceilings with lots of detail, in unit washer and dryer, and split-system wall AC. Heat and hot water included. Close to public transportation and the South End's famous restaurant scene.

Please contact Andrew Bemben with any inquiries or to set up a showing this weekend!

 

Back Bay | 271 Dartmouth St. #4M | 1 BR 1 BA *Furnished* | $2,700


Furnished one bed in Prime Back Bay location between Boylston and Newbury on Dartmouth St., steps to Copley Plaza. Elevator building with laundry on every floor and common roof deck. The unit boasts hardwood floors, dishwasher, and high ceilings. Heat, hot water, and WiFi/basic cable included in the rent. $50 per month towards electricity.

Please contact Andrew Bemben with any inquiries or to set up a showing this weekend!

 

Back Bay | 209 Newbury St. #2R | Studio 1BA | $3,150


NEW on Newbury Street!  Just renovated studio with enormous private deck between Exeter and Fairfield Street.  This apartment has all the bells and whistles; satin-finish white oak floors, central AC/hydro air, washer/dryer in unit, walk-in closet, video/voice intercom, and recessed LED lighting.  Brand new kitchen with stainless steel appliances and gas cooking.  Modern bathroom with tub.  Be the first to live in this gem!

Please contact Andrew Bemben with any inquiries or to set up a showing this weekend!

 

 

 

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6 Mistakes to Avoid While Your Mortgage is in Process

The offer on your new home was accepted, your inspection went smoothly, the purchase and sale agreement has been signed, and now you are just waiting for your mortgage commitment letter. You are almost done, but don’t go shopping for that new furniture set just yet!

Most lenders recommend taking a financial pause. Here are some suggestions to avoid common mistakes that can prevent you from getting your mortgage:

 

1. Do not open any new lines of credit, including opening new credit cards, or taking out new loans.

2. Do not close existing credit accounts.

3. Do not make any large purchases, such as buying/leasing a new car, expensive furniture sets, etc.

4. Do not make significant job changes, such as quitting or changing your job.

5. Do not make large deposits or withdrawals from your bank account.

6. Do not pay your bills late.


If you have any questions, ALWAYS check with your loan officer.

Happy closing!

 

 

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Parking Spots for Sale in Boston

Ever wonder what it is like to own your own parking space in Boston? Just finding parking alone is time consuming, stressful and can often take a good amount of change out of your pocket if you are renting one daily.  Beat the weather, save time/money and please check out some of the open parking spaces within Back Bay, South End and Beacon Hill that can save you all the hassle, knowing you have a space waiting or you.
 

25 Savoy St., Tandem Parking Space - South End - $200,000
Tandem parking space in the Rollins Square Garage available in the South End between Washington St. and Harrison Ave. Easy access to I-93, beat the rush!  Click here for details

 

700 Harrison Ave., Single Parking Space - South End - $80,000
Single, garage parking space available in the 700 Harrison Ave. Condominiums, between E. Brookline St. and E. Canton St. Beat the weather with this parking space!  Click here for details

 

195 Beacon St., Single Parking Space - Back Bay - $345,000
Single parking space available in Back Bay on Beacon St., right near the Mass. Pike. Be right next to your work, and near the shops, restaurants and all that Back Bay has to offer. Easy walk to Fenway Park!  Click here for details

 

144 Charles St., Single Parking Space - South End - $350,000
Single, garage parking spaces available on Charles St. Own a parking space in one of the most challenging parking neighborhoods in Boston. Click here for details

 

35 Fay St., Single Parking Space - South End - $125,000
Single, garage parking space available on Fay St., right near E. Berkeley St. No need to clean off your car from snow with this parking space! Easy access to I-93, beat the rush!  Click here for details

 

Contact Andrew Bemben with any questions or to set up an appointment to discuss parking spaces for sale in Boston.

 

 

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Boston Condo Market 2018 Review

A Look into Boston's Condominium Sales Market

 

It's safe to say that Boston's real estate has been on a hot streak. With 2018 at a close, Boston condominium sales have set even higher records than ever before. The Seaport took the lead in 2018 as the most expensive neighborhood, with the highest average sale price. Back Bay and South End continue to be highly sought after neighborhoods. South Boston also saw an increase from previous years when comparing average price and price per square foot; However, the most impressive statistic was that South Boston was the most popular in terms of condominium sales volume, totaling to 753 units sold. Now the question is, what does the market have in store for 2019?

 

 

 

Click to view available condos in South Boston

Click to view available condos in South End

Click to view available condos in Back Bay

Click to view available condos in Beacon Hill

Click to view available condos in North End

 

 

 

 

 

Apartment Spotlight: Looking for Rentals in Vibrant Areas in and around the City?

Jamaica Plain | 96 Seaverns St. #PH | 2 BR 1.5 B | $2,995 *Reduced Price*

Sumner Hill neighborhood, in Jamaica plain. Two bedroom plus study, one and a half bath penthouse. Steps to Green Street T, and all the shops, cafés, and restaurants on Centre Street, this sun splashed home doesn’t disappoint. Central air conditioning and heat, in-unit laundry, and an oversize private deck. Please contact Andrew Bemben with any questions or to set up an appointment for this Saturday, 2/2 from 10:00A.M.-3:30P.M. 

 

Watertown | 31 Irma Ave. #3 | 2 BR 1 B | $2,175 *Reduced Price*

Huge sunny and spacious 2 bedroom with hardwood floors throughout. Renovated kitchen, private deck, central air, and laundry in building. One parking spot included. Ideal location with easy access to public transportation, restaurants, coffee shops, yoga studios and much more. Must See! Please contact Andrew Bemben with any questions or to set up an appointment for this Saturday, 2/2 from 10:00A.M.-3:30P.M. 

 

 

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