This is great news for the Downtown area after having to deal with the unsightly hole for the last three years since property owner, Vornado Realty Trust of New York, halted construction.

Now it will be Ritz Carlton Hotel developers, Millennium Partners, to take over the site and  join Vornado Realty Trust of New York. As for the terms of the deal, they have yet to be disclosed, but this deal has been some of the most exciting news for the real estate world in Boston. The project outlines are broad, but people can expect roughly a 39-story building with retail stores and restaurants filling out the base.

For more information about the latest news on the new tower project in Downtown Crossing shopping district, please read the Boston Globe article, Deal set for a tower on gaping Filene’s site.

Open for skating from roughly mid-November until mid to late March, the Frog Pond is on the north-eastern end of historic Boston Common. Home to the Skating Club of Boston, this is where young and old can learn to navigate around the ice in either group or private lessons, or in public free skates. New Years Eve at Frog Pond means skating, of course, along with fireworks and vendors selling hot chocolate, roasted chestnuts and other delectable tid-bits. Best of all, the pond, and all that winter fun, is within walking distance of some prime Boston real estate.

Even if you don’t feel like skating, take a walk through the woods to the onsite winter-only Frog Pond Café. Enjoy gourmet coffee and a selective menu as you dine outside under giant heated umbrellas. During the spring and fall months, Frog Pond becomes a reflecting pool, and in summer a refreshing spray pool accompanied by a children’s carousel. If a Boston relocation is in your future, this is a perfect place to get a feel for one of the city’s most cherished neighborhood open spaces.

Boston Commons is the city’s largest and oldest park and dates back to 1634. Having weathered the trying times of the Revolutionary and Civil Wars, the park is a cherished historic site. Today the tree-filled grounds and zigzagging pathways are surrounded by luxury condominiums and apartments, as well as name brand high-end hotels. The Five-Star Four Seasons Hotel Boston is on the western end of the park. To the east is the ultra modern 45 Province condo tower with its floor-to-ceiling windows and dynamic city and Charles River views. Another offering is 360 Newbury St., once called the Tower Records Building, specializing in Boston loft style condos in a prime Back Bay neighborhood locale.

Massachusetts General Hospital is to the northeast, the Massachusetts Institute of Technology is a short drive across the Charles River and prestigious Northeastern University is to the west. Iconic Fenway Park, home of the Boston Redsocks Major League Baseball Team, is a little farther west near a large park called the Bay Back Fens, surrounded by many Fenway luxury condos. The Charles River Reservation IV is another public park fronting the river basin, offering more opportunities to bike, jog or just enjoy the timeless views. More luxury Boston condos and apartments may be found along the waterfront near and in the colorful Back Bay neighborhood, listed on the Registry of National Historic Places

Prudential Center sits right off Interstate 90, close to the Boston Back Bay train station. The Top of the Hub Restaurant offers an impressive skyline view and superb service from the top of the center’s Prudential Tower. This is the same building that hosts the Skywalk Observatory, famed for its 360 degree view of the Boston area. The observatory is so high up that you can see the curve of the earth.

Ethnic eateries, quaint pubs, including the one called Cheers that inspired a mid-1980s TV show, and the obligatory Starbucks are also part of the local dining scene. Dine on coconut chicken at Thai Basil one night and peruse the wine-list and fresh-fish menu at Skipjack’s the next. You can always take a stroll down to the frozen Frog Pond and wrap your hands around a steaming cup of brew while making up your mind.

The project is a major undertaking.  It covers a 44 acre plot of land between Cambridge, Charlestown, and Downtown Boston.  The North Point development has been referred to as a ‘mini city’ and will eventually include offices, shopping, dining, and thousands of new homes.  The project will essentially create an entirely new town square area at the northeast side of Cambridge.

To add to the ambition and complexity of the project, it also involves an extension of the MBTA Green Line.  The Lechmere station will be rebuilt in a new location next to the North Point site.  The updated $70 million station will be a key part of the entire project.  Residents, workers, and employees in the area will have quick access to one of Boston’s central mass transit arteries.

Groundbreaking could happen as early as next Summer, will create about 250 jobs.  Thousands more jobs are expected as the project gains momentum over the next few years.  The North Point development project will eventually be another great destination in the Cambridge area.

If you would like more information regarding real estate in Cambridge or the Boston area, contact Warren Residential Group today!

Ever wonder where Boston’s Back Bay got its name?  It wasn’t always a bustling cultural and commercial center with historic brownstones, posh lofts, and beautiful waterfront condominiums.  This neighborhood of Boston, which includes some of the city’s most important buildings and landmarks, used to be a large bay stretching all the way from the Boston Common to Kenmore square.  By the early 1800s, Boston had already saturated its available and surrounding space, and only a narrow isthmus connected central downtown to the rest of the greater metropolitan area.  In 1857, after a failed attempt to circumvent the city’s traffic problems with a dam/toll road, the city of Boston began a project to “make land.”

35-car-long trains filled with rocks, dirt, and other fill arrived in Back Bay 16 times a day for 43 years, finishing what is now Back Bay Fens or “The Fens” in 1900.  Most buildings’ basements along Commonwealth Avenue and the other streets of the Back Bay were never dug; they simply were left as holes with more dirt and gravel piled around them.  The layout of Back Bay was devised by Arthur Gilman of the Gridley James Fox Bryant firm.  Much inspiration was taken from parts of Paris.  Gilman wanted wide, parallel, tree-lined airy streets, such as Commonwealth Avenue or Beacon Street.

Back Bay Today

The modern day Back Bay, which is an officially recognized neighborhood of Boston, still features rows of beautiful Victorian Brownstones that trace their origins to the monumental project that created the land they live on.  These historic brick walls now stand alongside global landmarks such as the Prudential Center, Hynes Convention Center, and Boston’s famous center for fun, nightlife, dining and high fashion: Newbury Street.  Few blocks in Back Bay lack an architecturally or historically significant building.  Once completely submerged, Back Bay is now a bustling part of downtown Boston brimming with culture, history, and endless entertainment.

Interested in an apartment in Boston’s historic and monumental Back Bay or another Boston neighborhood?  Contact a Warren Residential Group real estate agent to find the perfect apartment or condo for you!

Curb Appeal. The first and most important impression that potential buyers have of your home is their walk to the front door. It’s difficult in Boston real estate to add “curb appeal” to your apartment door within your building. A lot of this first impression is out of your control. However, if you own a home in Allston or a brownstone in the Back Bay, it’s easy to spruce up the front of your home. Just by sweeping the front steps, adding a door mat, trimming the hedges, or cutting the front lawn, you can immediately improve the odds for a positive first impression.

De-clutter. Your friends might know you as the “kooky” one who has a bunch of knick-knacks on every surface of your home. While this is a great way for you to personalize your living space, it’s not a good way to help potential buyers imagine their own things filling up this space. Try storing all those little trinkets covering your mantle in a drawer or basket off to the side temporarily to give your space a more open feel.

Keep in “showing condition.” Give your Boston home a facelift (and keep it uplifted!). You might have already done the typical scrubbing, dusting, and vacuuming in preparation for the warmer weather this spring. However, potential home buyers are less likely to appreciate the sparkling windows when they’re tripping over your kids’ toys scattered around the house. Try to keep your place clean by putting all clothes away, making beds, and keeping the kitchen free of dirty dishes. A little bit goes a long way!

Big and Bright. There are several ways to make your space seem bigger and brighter. These do not include keeping your shades drawn during the day. Obviously you can get great light by placing several lamps throughout your home, but also try to let some natural light into your space. Also, you can make your home appear more spacious by using neutral colors on the walls and ceilings. This can also help by giving potential buyers a “blank slate” to imagine their style on. Finally, the placement of mirrors can do wonders in making your living space seem larger than it is.

Contact Warren Residential today to speak with a real estate agent who can help you sell your Boston home.

If you’re thinking about selling your home in any of the Boston neighborhoods, you probably know that in order to help make the sale quick and financially beneficial, sometimes home improvements are necessary.

Here are ten worthwhile projects to invest in, and the percentage of cost that is typically recouped at resale in a seller’s market.

1. Painting (As much as 300 percent payback)

If you’re going to do one thing, paint! Interior and exterior painting is one of the few improvements on which you are likely to realize a profit. Just make sure you choose tasteful, current, neutral colors, and the work looks as though it has been professionally done (if you can do the work at a professional level, then by all means, do it yourself!)

2. Bathroom Addition (80 to 130 percent payback)

If your home has only one bathroom is meant to house more than two people, a bathroom addition should be one of your top priorities, especially if most homes in your neighborhood have two or more bathrooms. If yours has just one or one and a half, you will definitely increase your property value by adding a bath.

3. Bathroom remodeling (65-120 percent payback)

Upgrading a bathroom will add to your daily comfort and enjoyment and add to the value of your home. A timeless and safe choice for a bathroom remodel is white porcelain.

4. Kitchen Remodeling (68 to 120 percent payback)

Careful planning and shopping can help minimize the costs of this project, which is typically known as one of the most expensive. When remodeling the kitchen, remember to keep the project in line with the quality and style of the rest of the house and neighborhood. If your kitchen has an older feeling, don’t put in a pricey granite countertop or refrain from installing an all new $50,000 kitchen in a house that is only valued at $200,000.

5. Finishing Unfinished Space (50 to 90 percent payback)

Whether it’s an attic or a basement, finishing spaces adds significant value to your home by increasing square footage without having to actually build any additions.

6. Window/Door Replacement (50 to 90 percent payback)

If your windows or doors are wasting energy or just decrepit looking, replacements can be an excellent use of your home improvement dollars. Stick to the old standard styles; odd shapes or highly customized arrangements are not very beneficial for resale value.

7. Deck Improvement (65 to 90 percent payback)

Whether it’s adding an addition, expanding on an already existing deck, or just improving your deck with a new paint job, decks are one of the few exterior improvements with any significant returns.

8.  Adding a Room (50 to 83 percent payback)

Increasing square footage by making an addition to bedrooms, family rooms, and other areas is almost always an excellent use of remodeling dollars, but don’t expand your home so much that it intrudes onto your outdoor space leaving little to no space.

9. Home Office Remodeling (60 to 73 percent payback)

This project is becoming increasingly popular, just be sure to plan for plenty of electrical and cable outlets to accommodate all the required machines and gadgets.

10.  Energy Efficiency Retrofits (Highly variable payback)

If your primary concern is a return on your investment, proceed with caution. Some retrofits, like better insulation and high-efficiency furnaces pay for themselves relatively quickly. Other less mainstream retrofits such as solar panels, tankless water heaters, and heat recovery ventilators may take years to pay for themselves.

If you want help finding the perfect Boston Real Estate or Brookline Real Estate, please contact Warren Residential today. We would love to help you find your new home, and our knowledgeable agents are equipped with helping you sell your Boston home as well!

Completed in 2005, Atelier 505 was one of the most successful luxury condo projects that have been completed in the past decade, selling out pre-construction very quickly, and its current resales are now in very high demand. Many units feature views of Boston’s Back Bay from their beautiful, large floor-to-ceiling windows.

Atelier 505 offers lots of great amenities, including a 24/7 concierge who is there to help you with packages, dry cleaning, reservations and more, an underground parking garage, as well as hardwood floors, custom cabinetry, and appliances. The 3^rd floor of the luxury apartment houses a gym outfitted with cardio equipment and free weights, as well as a common room and a patio that you can use for anything from family get-togethers to business functions.

Atelier 505 is truly one of the South End’s most luxurious properties. Located in the fabulous and diverse neighborhood along Tremont Street’s various cuisine offerings and sitting right next to the Boston Center for the Arts, residents of Atelier 505 will have numerous dining and entertainment options to choose from.

For more information on current sales and rental listings at Atelier 505, please contact a Warren Residential Group agent. In addition, if you’re considering a move to Boston or if you have any questions about Boston Real Estate or any of the Boston neighborhoods,we are qualified and knowledgeable on those aspects as well and would love to assist you.

Refinancing

According to vice president of research and economics at the Mortgage Bankers Association in Washington, D.C., Michael Fratantoni, mortgage refinancing is expected to experience a “very steep drop.”

Homeowners with ample equity, steady employment, and sterling credit have most likely already refinanced at least once in 2009 or 2010, which locked in low fixed rates, leaving little to no incentive to refinance in 2011.

Those who haven’t refinanced in the last two years due to inadequate equity, unstable employment, or impaired credit probably won’t do so this year either. While still-low interest rates may create an incentive, those same challenges remain to be surmounted.

Homes Loans

Unfortunately, its no secret that it is harder to qualify for a home loan today than it has been in the past, and it seems unlikely this will change any time soon.

Tight lending guidelines are the result of lenders’ new, more conservative attitude toward the risk of bad loans and the possibility that people will force them to repurchase sold-off loans. When this happens; when lenders are forced to buy back loans, they lose money.

This leads to lenders being that much more cautious when asking for voluminous documentation, such as multiple credit checks, income verifications, and appraisals.

Home Buyers

Low mortgage rates and fallen prices that make homes relatively more affordable to purchase mean now should be a great time to buy. There are plenty of homes on the market, and the possibility of future inflation could boost home values when looking at long term.

However, many might-be buyers remain dubious due to near-term doubts about the wisdom of buying a home. In a third quarter survey, 33 percent of those asked said they were more likely to rent rather than buy their next home.

Despite the Federal Reserve’s efforts to keep rates low, there has still been a recent rise in mortgage interest rates, a potential alarming fact for those looking to buy in the next few years. This does mean, however, that it could be better to buy sooner rather than later. (If rates go up, prices will come down, but it’s still better to lock in at an 8 percent loan than the possibility of it going down to 3.8 percent.)

While some of this information could seem alarming, it is important to remember these are predictions and not facts. An upside seems to be that renting could be a viable option, at least for a few years. The Warren Residential Group is an excellent resource whether you’re looking to buy Boston real estate or are looking into a Boston rental in the greater Boston area, so contact an agent today to schedule a viewing.

The great thing about moving into a new apartment is that you have the opportunity to decorate it the way you want your home to look; you’re starting out with a blank canvas.  Here are a few ideas to get your new apartment looking like home:

–Before you do anything, evaluate the space. You’ll want to emphasize the positive elements in your apartment; maybe you have tall windows you could accentuate or beautiful hardwood floors to leave unobstructed.

–It’s best to keep your décor simple, so try to limit your color scheme to a certain palette and avoid overcrowding smaller spaces with too much furniture. If you have a limited amount of space, try to find multi-purpose furniture, such as a sofa bed or a futon.

–If a room is dark, brighten it up with lighter-colored walls and plants and flowers. Sheer curtains still allow light to come in but can add a pretty hue to the room. Mirrors can lessen shadows and give the illusion of a bigger space, so invest in some nice mirrors with frames or interesting shapes.

–If your apartment looks boxy, create a focal point in each room. Paint a certain wall with a different color/shade, hang a tapestry, or paint a mural; this way, the eyes will focus on that particular area instead of the shape of the room. Attention-grabbing furniture or art pieces will also do the trick.

–Low ceilings? Use lamps that tilt upward to cast as much light on the surface as possible. You can also try painting the ceiling a light color and the walls a darker color, it will give the illusion of height. Rugs, floor cushions, and low seating will draw attention to the room’s bottom part.

Decorating your apartment does not have to be a really expensive ordeal. Check with family and friends for any items they no longer use that would work in your apartment, check out Craig’s List and Freecycle for free items, bid on discounted items from Ebay, and visit stores like The Goodwill and Salvation Army for inexpensive items.

Whether you’re considering a relocating to Boston, or you’re just looking for a new luxury residence or condo in the Boston area, Warren Residential group is a great resource to help you simplify that process. Contact us today!

Since their acquisition, the firms refurbished the lobby and created an underground parking garage for top executive, spending over $40 million on improvements. In addition to the upgrades, they were able to offer lower rents than previous owners; even luring Bain Capital away from a Boston Properties owned building for a seven-floor lease in the Tower.

Under the deal conditions, Boston Properties paid $289.5 million in cash and assumed $640.5 million in debt, in the form of a securitized senior mortgage loan with a fixed, 5.68 percent interest due in January 2017.

Since its assembly in 1975, the Boston landmark has been known as a barometer for the real estate boom and bust. The 62-story glass skyscraper in Boston’s prestigious Back Bay neighborhood boasts over 2 million square feet of space, with roughly 1.7 million feet being available for rent, and an eight level parking garage with over 2,000 available parking spaces.

If you would like to live in the Back Bay neighborhood, or any of the other great Boston neighborhoods, please contact an agent at Warren Residential Group today to schedule an appointment. We would love to help you find your new Boston condo or luxury residence!