As summer winds down, Nick looks at the unique real estate market in the Boston area so far this year. He also discusses some upcoming projects and new construction that he is excited about in Boston.
What new construction projects in the city should buyers know about?
There are many great new luxury condo developments in the works here in Boston, but here are two that I'm most excited about seeing!
St. Regis Boston Residences
This new luxury highrise in Boston's Seaport District is getting a lot of attention already. It will feature 114 residences with many different floor plans to choose from. The floor-to-ceiling windows will allow residents to have some of the most spectacular waterfront views in Boston.
Raffles Boston Back Bay Hotel & Residences
Under construction and scheduled to open in 2022, this luxury condo high-rise located only a block from our office in Back Bay is one that I've been watching for a while! There will be 146 branded residences and 147 hotel rooms in the 35-story building. The two-story sky lobby is something I can't wait to check out!
What special considerations should people keep in mind when purchasing in one of these new communities?
The biggest thing to keep in mind is timing. New construction developments start marketing their condos for sale long before they are complete, so you have to know the timeframe before committing to a reservation. Not only that, but you should also plan for potential construction delays, especially with everything going on right now.
Another consideration you should keep in mind is to review the proposed condominium documents carefully. You should note things like the maximum number of investor-owned units, the pet policy, etc., to make sure it is in line with your needs and expectations.