150 W Broadway
150 W Broadway
The luxury condominiums now located on the landscape of South Boston are at an all-time high. The median price of a condo since last 2016 has been in favor of the sellers, which denote the strong economic growth in this district. The price is even higher if it is a full service, luxury building as it can exceed $2 million.
South Boston seems to be one of the ideal locations in the Boston area for condos and other multifamily properties. It is also where the much-anticipated 150 West Broadway condominiums are located. Currently, the building is still under construction. When it is completed, it will come with high-end condo units, along with plenty of parking spaces onsite, and many other amenities.
The Current Status of the 150 West Broadway Condos
The condo building boasts a total of 24 luxury condo units. It has an elevator, along with a shared terrace. The developers touted it as the condo building with a unique design and with a prime location in South Boston.
Indeed, it is settled conveniently in West Broadway, and its design has made it one of the most awaited buildings to finish. Luckily, the wait will not be that long since the luxury condos are on track now to be completed early this year. That said, it is evident that progress is being made with things moving along quite nicely.
As of December 4th of 2017, the condo is 33% sold to residents who will soon move to their units in 2018. The insulation, as well as the blue board, is about to start in the next couple of weeks following the mentioned date. The brick façade of the building is also well underway.
About the Building
This development features more than 180 feet in which its frontage will take on two streets in South Boston. Due to the place where the building faces, the building offers more natural light, especially when compared to the current and recent projects in South Boston.
When it comes to the interiors of the building and the units themselves, they all concentrate on the floor plans. Inside, there are choices of one, two, and three bedroom units. All of these condos provide the maximum use of available space for living, which gives the residents enough room for their possessions.
The natural light coming in the condos are welcomed inside through the oversized windows, which are complemented by the ample ceiling heights. The infusion of light in the building will surely brighten up all the rooms in the building, which not only showcases the beauty of the units but also helps cut down electricity bills.
The Exciting Amenities
Perhaps one of the most talked about amenities for this development is the garage parking it offers. The parking spaces allow the residents to get access to the building as quickly, safely, and conveniently as possible. It is critical these days, primarily because of the winters that South Boston and the rest of the city experience.
With adequate garage parking in the building, there is no need for the residents to brush off their vehicles when the harsh snow comes. They also avoid the hassle of looking for parking space on the street or going to another building to park and pay for the monthly rental space. In this development, it is as simple as driving and parking the car.
There is also an elevator present in the building, which offers quick access to the floor where the unit is located. Additionally, all the residents will get to enjoy the massive public roof deck, whether they choose a one-bedroom unit, two-bedroom unit, or a three-bedroom one. The outdoor roof deck is an excellent spot for those who want to seek entertainment or just relax while socializing with the other residents in the building. It is easy to imagine that the setting would be genuinely beautiful, particularly during the warmer months as it offers lovely views of the city.
As for the amenities within the condo units, the residents are in for a treat as they see the porcelain and marble tile baths that are finished with Grohe plumbing furniture. The kitchen is where one will find top-of-the-line appliances by Jenn-Air, along with white shaker cabinets. All of these features are punctuated by the large open layouts all over the kitchen and the dining area.
According to the developers, the open concept is where the mark of modern living lies. The kitchen opens to the outdoors, which is a layout that puts the residents right at the front and center of their units for relaxation, along with the opportunity for seamless entertaining if they plan to host a party in the building.
For the finishes of the units, the condos offer flexibility as the residents have the chance to choose whatever they want to have. They can customize their space and make it look exactly how they would like their home to look like.
Aside from the mentioned amenities, the people who live in the condo units will also get oversized sliders and windows, glass tile backsplash, oak flooring, quartz countertops, customized kitchen cabinets, and many more.
Some units will even have their private outdoor terrace. Garage parking is for everyone in the building, but some residents will be allowed to park two of their cars in the parking space.
Convenience in Location
This development is located in the heart of Boston. It is just two blocks away from the Red Line T, which means that the residents can easily commute and travel to Cambridge and other places along the Red Line. It will be much easier to get to the city of Boston, downtown, and the surrounding neighborhoods in just a few minutes.
It is indeed an ideal location, which is why these condos are taking the attention they deserve. The South Boston area is rapidly developing, so the residents will not find it difficult to live comfortably in the area. There are restaurants and shopping centers, along with other places for absolute necessities. It is also just a few steps away from the South End and Seaport District. What’s more, the condos are nearby newly built food places and the Whole Foods market.
This latest development just proves that the city is undergoing a robust economic growth. It is in the center of the current construction boom that shows Boston is where many other developments may soon arise.
According to news sources, South Boston is experiencing an unprecedented influx, particularly in the median price of single-family homes, which is now at $680,000. As for condos in the area, the median price has reached $632,000, which is a 70% increase since 2011.
Putting these numbers in perspective, the average price of a condo in 2017 is $790,000, which is 16% more than 2016. Even more, the luxury full-service developments in the area can go over $2 million as recently witnessed by investors and people looking to purchase a luxury condo property in South Boston. Without a doubt, this area will keep attracting many developments in the future, especially luxury ones.
The unemployment rate in Southie is also lower and is in fact, 16% lower than the rest of the nation. Aside from that, it has a per capita income of 60% more than the national average. With these numbers, South Boston is indeed a desirable place for anyone looking for a spot to set down their roots.
The condos in the area fetch more than $700,000, which are higher than the prices of East Boston and Allston, which are at $416,000 and $422,000 respectively. Additionally, the home values all over the Boston area have been predicted to rise by at least three percent in the first half of 2018.
Since there are already a few condos sold in this development, it is an opportunity for those who would like to live in South Boston. It is possible to schedule a showing to see and experience the condo building firsthand.
The building is the cornerstone of excellent design in an ideal setting. The interiors have well-thought-out plans for all the bedrooms, regardless whether the potential resident looks at a one bedroom unit, two-bedroom, or considers a three bedroom unit in the condominium. All of them cultivate usability when it comes to living space, along with the uniqueness of ample natural light flooding the rooms.
Listed Properties in the Development
If you are searching for a unit that is currently available in this condominium, you are still in luck because there are still some units that have not been sold yet. They are still waiting for their future owner and you just might be what one of the condos is set to welcome.
Overall, the condo building is in a 0.26-acre lot size with an average listing price of $989,218. The median sale price for the condos is $640,000, and the average sale price for every square foot in this part of South Boston is $651.
Perhaps one of the most attractive units in the building is Unit 23, which has two bedrooms and two full baths. The asking price for this particular section is $1,450,000 with an estimated mortgage of $5,498 per month. This specific spot is a penthouse unit, which is one of those places in the building that come with a private roof deck, which is elevated to 60 feet and offers views of the West Broadway area.
This unit also has oversized peninsulas and islands in the kitchen, which are all perfect for those who would like to entertain their guests in style. If you are not interested in this unit, there is another one available for the same price of $1,450,000, which is unit 12.
It has more bedrooms but also two full baths and offers city views. It is a corner unit that comes with a deck that faces the city so that you can enjoy the scenery while you are relaxing. It also has its master bedroom balcony.
For a slightly lower price of $1,399,000, the Unit PH1 is available for sale. It is also a penthouse unit that has its private deck, two bedrooms, and two full baths. It is currently under agreement, however, so you may want to look into other units in the building in case that deal works out.
Unit 6 is also a good as well as unit 20, which is quite affordable, considering the lavish amenities and features of the building. It comes with two beds and two baths in 829 square feet of space. You can get the unit for $775,000. It is on the second floor of the building and offers easy access to shopping and public transportation areas. It also readily provides a way to the highway. Meanwhile, the rooms come with central air and heating.
Other units available for sale in this development are unit 9, which is currently asking for $1,050,000 and unit 18, which asks for $950,000. Unit 10 is also under an agreement, which is one of the least expensive units in the building with just $850,000 in asking price. The same goes for unit 17, which also requests for the same amount and is also under agreement with a buyer. If you are interested in having two parking spaces, you will get them depending on the size of the unit you will purchase. Additionally, the private outdoor balcony is only available for the luxury units, including the penthouses.
More about the Building and the Plans for the Project
The development is the newest residential development in South Boston. It comes with 21 units that have market rates, while there are three more that are considered affordable. The building has a total of five stories and is elevated 50 feet.
Before the building started its construction phase, the plans for it were under review in 2014. The very first idea consisted of 27 market rate units, along with four affordable ones, which were set to follow the Inclusionary Development of Boston. The building was placed to feature four more commercial segments in which the total space would take 5,785 square feet. During this planning stage, the project was set to have 33 underground parking spaces.
The corner parcel is still quite prestigious, mainly because of its excellent location, which is just near the South Boston Broadway T station. At that time, the site was underutilized and was used as a commercial property featuring used cars and an auto repair shop.
The developers expressed their plan to revitalize the area by transforming the building into a place where there were affordable housing and enough parking spaces, which would be used by young professionals and families. The plan also included retail opportunities in the 11,407 square feet lot on the corner of West Broadway and B Street on the side of downtown Boston.
Along with the original proposal of 31 units and 33 underground spaces for parking, the plan would also involve a new building and improved landscaping in all the four corners of the property. It would even have mechanical systems in the basement or garage level, along with elevator access and trash storage.
The original plan consisted of the following:
- A mix of units, 31 in total
- 33 parking spaces
- Four commercial areas that would average 1,400 square feet of space each
- Four condos that would feature a townhouse style with approximately 1,200 square feet of space, each with two bedrooms and two full bathrooms
- 24 units at about 950 square feet that also came with two beds and two baths
- Three condos measuring 1,300 square feet with two beds and two baths as well
- Common areas with approximately 4,000 square feet of space
- The parking garage has nearly 10,000 square feet of space
It was in July of 2014 when the Boston Redevelopment Authority scheduled a public meeting that involved the redevelopment of the building that the developers wanted to demolish and transform. At that time, it was called Mike’s Auto, and the plan for 31 condos and 33 parking spaces caught the attention of many people. It just meant that there would be more than one space for a residential unit.
Evidently, the plan needed some changes because some residents and organizations opposed the redevelopment of the area. The protests were chiefly about the height of the building, even though there were also some residents who were in favor of it to improve the vibrancy of the neighborhood. Additionally, the objections also involved the new building to be just a few steps from the Broadway Red Line stop.
Today, however, it remains to have five stories in 34,095 square feet of space. The dollar volume of the project is $8 million, and it is still a mixed-use building with housing and retail. The proposed height was 60 feet, and it was reduced to 50 feet to accommodate 24 units, which are six units less than the original proposal. As for the garage space, there will be a total of 32 instead of 33.
After the project was approved in November 2014, construction began on the first of April in 2016. Demolition of the old building was the first step, which started the development of the new one in June. The former building was a site for the auto repair shop and a lot of used cars. Excavation commenced right away to the point where the building’s foundation could be started as well.
Installation of the concrete piles that would serve as the structural support of the building used a drilling rig. A Steel H pile was already on the site, which would also be driven to add more support to the foundation of the building.
After that phase of construction and the foundation excavation was completed, the core of the elevator has almost reached its full height in December of 2016. At that time, the temporary bracing was already in place to support the foundation, while the structural frame was being constructed.
Steel connection plates were welded in place to anticipate the erection of the building, which would go five stories high. In February of 2017, the elevator core finally topped off, and the construction of the foundation was underway. The first floor’s concrete base slab was followed by the framing of the upper levels of the building. At this point, the building was still poised to have 31 apartments, along with 5,785 square feet of retail space on the ground floor.
In July, structural framing took place, and the luxury condominiums started going on sale. Since the concrete base of the condos and the retail building were already complete, the second floor already had its prefabricated wood panels to frame it.
Sale of the condos has started since July, and as mentioned above, about 33% of the units have already been sold, and some are currently under agreement. Condo residences start at $775,000, which is equivalent to $935 per square foot and this price applies to the 829 square feet units with two beds and two baths. The most expensive is the $1.45 million unit, which is equivalent to $887 per square foot. This area takes 1,634 square feet and comes with three beds and two full baths.
At this time, it has already been finalized that the condo building will only have 24 residential units and a total of 5,785 square feet of space, which will be used for retail space at the ground floor.
This new development is just one of the four development projects that started in 2014. These projects were estimated to amount to more than $137 million, and they have all been approved by the Boston Redevelopment Authority (BRA) and the Economic Development Industrial Corporation (EDIC).
These projects, including 150 W Broadway condo building, are set to create both commercial and housing spaces in different neighborhoods of Boston, including South Boston. It is one of the projects that in total would take 523,000 square feet of space from South Boston to East Boston to Jamaica Plain, resulting in the creation of more than 400 construction workers.