A home run in the Fenway that cleared Landsdowne Street and lands all the way at 909 Beacon St…we must be Juicing!
If what happened at our recently sold out new Boston condo development at 909 Beacon St in The Fenway is any indication, which I believe it is, the answer is: “rockin’!!!!”
We sold all 6 condos in 3 days, at 101% of the aggregate asking price, with back up offers on almost every unit. Besides the market swallowing up this product in 3 days, at unprecedented price levels for The Fenway neighborhood, the most telling sign was the level of activity at the project.
Our marketing plan at Charlesgate Realty is as good as it gets, I have no doubts about this, and not to toot our own horn (too much), excellent marketing is a big factor. However, in mid to late January we had more than 35 potential buyers at a Thursday night open House (just one of our unique marketing initiatives), more than 25 people through a traditional Sunday open house, and then 20 buyer broker arranged showings from Thursday to Monday, when the last unit got scooped up. That’s 80+ buyers for 6 condos in the Fenway in the first weekend.
What does all of this mean?
In my view, on top of our marketing outreach, this is indicative of an overall lack of quality inventory in the market, pent up buyer demand, and a sign that buyer confidence is returning to the Boston real estate market. Check out this email I got from a competing broker regarding 909 Beacon St. It was quite complimentary, but also very telling about just how successful this project was. For the record, this broker happens to be one of the best agents in the Fenway neighborhood year in and year out:
I hope all is well. I wanted to flag my new listing at Mountfort Place. It’s a similar market space as 909 Beacon Street. Since you’ve got the midas touch I’m hoping you’ll bring a buyer for my listing.
I have to tell you that I’m floored that you sold 6 of those in a week. Did you know that for the entire calendar year last year, in 02215, I think there may have been 2 sales in the value range – for the year. Then you pull SIX of them out in the winter market. In 4 days?
Can you explain? I’m really just floored. Is the market where I think it is? I know you’re a great broker and I know those were nice, but 6? It’s a tough price point here, but I guess that has changed?
As you can see from that email we sold 3 times the market volume from 2011 in that price point in 3 days. We must give credit to a great developer, Glenshane Properties, LLC, as they did great work building the project. We were involved very early on in the project, giving our market insight as to what buyers want, from floor plans to finishes. Credit goes to Glenshane for listening, and executing. Our collective success at 909 Beacon illustrates that if you strategize, pay attention to the consumers, and deliver a top notch product, then the market will respond. The marketplace just needs more condo projects like this to keep the ball rolling…
To sum it all up…..Curbed Boston asked: Can 909 Beacon Play in the Big Leagues?
Well I think we’ve got our answer!