East Boston: An Up and Coming Neighborhood

In recent years, East Boston has caught the eyes of young professionals, investors, and developers thanks to affordable home prices, proximity to downtown, access to the Blue Line, and expansive waterfront.

A look at East Boston’s Condo Market shows it’s an up and coming neighborhood. Average price and price per square foot have been steadily climbing since 2015. Year to date, the average sale price is $580,213 up 67% since 2015, and 13% compared to 2018.  Year to date, the average price per square foot is $546 up 69% since 2015, and 13.2% compared to 2018. The stats are a tell-tale sign of a hot market and an “it” neighborhood for real estate investment.

Sourced by Compass

Sourced by Compass

 

Other strong indicators of an up-and coming neighborhood are commercial and residential development. What’s on the horizon, for example?

Retail comes to neighborhoods with a growing population to support it.

Maverick Square. This board-approved, three-story, 39,679-square-foot retail building is due to go up on a site at 9 Chelsea Street in East Boston’s Maverick Square that once housed a funeral home and other buildings. This is the biggest investment in Maverick Square in the last 40 years. Part of the proposal includes a two-level restaurant with rooftop bar.

Residential Developments to Keep on your Radar

Slip 45. The Slip 45 Condos are expected to launch sales in the Spring of 2019.  The condominiums are a part of the Clippership Wharf development along the East Boston waterfront.  The Slip 45 condos will have tremendous views of the Boston Harbor, Boston’s Seaport District and all of downtown Boston.  Amenities will include clubrooms, fitness center and an onsite concierge.  Condominiums will be a mix of studios, 1 beds and 2 beds.  There will be parking available onsite.

The Mark at DeNormandie Wharf. Thisis the newest luxury condominium development on The East Boston Waterfront. The building features breathtaking views of the Boston skyline and is an easy walk to The Maverick Square Blue line T stop.  You can also grab the Water Taxi over to The North End and Seaport areas as well as stroll over to ReelHouse where you can enjoy drinks and delicious, Globally inspired food. Units feature high end finishes and private outdoor spaces.  There is onsite parking which is available for purchase. The Mark also features a 24/7 Concierge, Fitness Center with Peloton Bikes, Community Terrace with Grills and Fire pits, Golf Simulator and Movie Room.

Interested in learning more about the East Boston lifestyle or properties? Contact me to get the conversation started!