A popular search phrase lately has been the Macallen Building, a 140-unit luxury eco-friendly development in South Boston.  Macallen opened to residents a little over a year ago, and has been well received by not only Bostonians, but the building has been the center of attention in many regards, namely for it LEED certification, the first in downtown Boston.

We predicted absorption of this large luxury development in South Boston would be slow with the (relatively) high price per square foot being demanded given the investment that a LEED certification requires.  Nonetheless, absorption has been steady, with currently only 16, both resale and developer, units for sale in the building. While sales prices at the Macallen over the past 6 months (10 units sold) have only been at 89% of list price, the price per square foot has averaged $570, which is still setting a new standard for South Boston.

Macallen’s sister development, Court Square Press, in comparison, has 5 units for sale currently, and over the past 6 months, the 7 units that sold in the building averaged $464 per square foot.  Court Square press offers more classic loft style living with exposed brick and beam, at a lower price point than Macallen, however, Court Square Press residents enjoy all of the same common amenities that Macallen residents enjoy - Macallen and Court Square Press were both built by Pappas Properties, and share a parking garage, lap pool, large deck with grills, fitness center, and viewing room with adjacent kitchen and bathroom (perfect for private parties).

Across the street, Macallen and Court Square Press have two new neighbors, the Allele building, and the Lofts at 36 A.  The Boston MLS shows that there are currently 18 condos for sale at Allele, with the average price per square foot of those sold over the past 6 months at approximately $390. The Allele is a new construction building, and boasts small outdoor balconies, yet lacks the same level of amenities that Macallen and Court Square Press can offer residents.  While the Lofts at 36 A lack some of the same amenities, it offers residents high end finishes, and a fabulous roof deck (both common and private spaces).  36 A, a boutique 26-unit development, is almost sold out, with 3 units currently available.  Over the past 6 months, the 14 units that sold averaged approximately $465 per square foot.

With all four of these developments being steps from the Red Line, they represent a viable alternative to some of the other core downtown neighborhoods, allowing your dollar to be stretched a little farther, especially in new construction.

Our Featured Open House of the week is taking place at the Lofts at 36 A, a 26-unit luxury loft new construction in northern South Boston. This condo development is nestled in probably the hottest few blocks of Boston real estate, among Court Square Press, the new Macallen, and the soon to be Allele Boston. We’ve called the Lofts at 36 A out as being part of the Three South Boston Amigos.

According to the Boston MLS, 3 units remain at the Lofts at 36 A listed at $659K, which are all considered two-bedroom, two-bathroom units with over 1,200 square feet of living space, and the most exquisite stained and scored concrete floors in the city. Most units come configurable with regard to the actual buildout of a second bedroom. Heated garage parking is included, and a common / private roof deck setup offer great views of the city.

Finishes in this development are top notch, and the bathrooms, you have to see them to believe them. The open house will take place at 36 A Street on Sunday, November 11, 2007 from Noon until 2pm. Please let Beth Dailey, the exclusive listing agent, know that you heard about this open house on the Boston Condo Blog.

If you like new developments, then the area surrounding the Broadway Red Line T-Stop is your new hot spot. 2007 has seen the completion, and near completion, of what we are calling the Three South Boston Amigos - the Lofts at 36 A, the Macallen Building, and Allele Boston.

These three condo developments are setting a new baseline for high-end living in the northern part of South Boston, with existing standards (Court Square Press) and some more to come in the upcoming years (Leachmore Point, now to be called Eleven West Broadway). Both the Macallen and 36 A opened to residents around the June 2007 timeframe, and Allele is planning for an early 2008 occupancy date. The exclusive photo below shows Allele Boston in the foreground, and the newly completed Macallen Building in the background, with the South End and Back Bay skyline to the left.

For buyers looking for the opportunity to build short to medium term equity, this area of Boston should be of pertinent interest. With the amount of development that has already happened, and that which is planned, the neighborhood will continue to blossom. For instance, we recently announced that Tapeo Boston will open a new South Boston restaurant on the ground floor of Allele, adding to the draw of the area. Small things, like reconstruction of the median between Macallen and Allele on Dorchester Avenue and the planting of trees will, again, add to the beauty and allure of the area. Significant retail is planned for Court Square Press (an organic market complete with top choice butcher), Macallen (yoga studio, dry cleaner, cafe, and small offices), and across the street from the T-Stop, a not yet announced art / wine gallery.

The Lofts at 36 A is a 36-unit 6-story boutique development that features very high-end finishes throughout, including some of the best bathrooms in the city, and exquisite scored and stained concrete floors. The development features a common roof deck situated next to numerous private roof deck spaces, and two levels of garage parking, the lower of which is serviced by a car elevator. This is a high-end, but no frills (no concierge or fitness center) condo development. 36 A features a single retail space on the ground floor.

Allele Boston will be a 48-unit 6-story (but will sit slightly lower than the adjacent 36 A building) development that is aiming for a February / March 2008 opening. Allele, which means hybrid, offers traditional home features with loft style feel, some with terraces, and garage parking for an additional purchase price. Allele will feature a ground floor restaurant (Tapeo of Newbury Street is currently the target client).

The Macallen Building is a LEED Gold Certified (Green) 140-unit mini-mega development. Macallen represents the second phase of the Court Square Press buildout, and is a full service luxury building that is the first green residential building in the city of Boston with an outdoor heated pool on an 18,000 square foot plaza, garage parking, and a viewing / entertainment room, and fitness center (in Court Square Press).

Developers are creating a very high-end, desirable enclave just south of the city, and it’s only a ten minute walk to the South End, or a quick T ride to Downtown Crossing. Residents of other recent area developments, namely 80 A Street (also known as 52 Athens) and 125 B Street Lofts, which are seen as perhaps a lower price option to Macallen, 36 A, or even Court Square Press, will soon be enjoying the fruits of their sister developments’ labor by way of increased condo values, and augmented commercial and retail options.

For a complete look at what is available in each of the Three South Boston Amigos, or any of the other sister developments, please contact us. The exclusive photo below shows the lineup of the Three Amigos along W 4th Street (closest to farthest: Lofts at 36 A, Allele Boston, Macallen Building).

We’ve been informed that Tapeo of Newbury Street will open a second restaurant near the Red Line Broadway T-Step area in the ground floor of Allele Boston, a new boutique South Boston condo development at 150 Dorchester Avenue slated for an early 2008 opening.

Tapeo will create a new name, possibly “Sapeo“, and will plan to open following the February / March opening of Allele. Sapeo South Boston will acquire a significant amount of outdoor space along Dorchester Avenue, and it’s rumored that the current retail space on the ground floor of Allele will not be large enough, so Tapeo / Sapeo will pursue acquiring two ground floor condo units to add to their planned space.

The Allele condos are moving along quickly, from the below exclusive picture taken yesterday from the roof deck of the Lofts at 36 A, you can see that exterior work, including balconies, windows, and brick siding, is progressing. For more information about Allele, or any of the hot new developments in South Boston, please contact us.

High-end boutique living with some of the finest Italian finishes in a loft-style setting with the most beautiful stained and scored concrete floors on the market, this is the essence of the Lofts at 36 A. We have spent a lot of time at the development over the past several months, and have really enjoyed the building.

The South Boston neighborhood surrounding the Red Line Broadway T-Stop is absolutely exploding with stunning new developments that each have their own individual focus and feel, catering to particular lifestyles and living standards. The 36 A Lofts is a small, 26-unit, boutique development that is targeted towards a discerning condo buyer who appreciates high-end amenities within the living space, but does not need/want a concierge or fitness center.

Ceiling heights are just under 10 feet, and the south wall of each unit is covered in a bank of floor-to-ceiling windows. Located at 36 A Street (Google Map), the newly constructed development stands six stories high. There are two levels of garage parking, one underground (served by a car elevator), and another on the ground floor accompanied by a commercial space (no restaurants). There are five levels of living space, topped off by a huge roof deck, with a common area and private stalls that are either deeded with a unit, or can be purchased separately (only 2 remaining).

HOA fees include master insurance, water, elevator, and maintenance, and are no more than $300 per month in any given unit. Heating and cooling is high-velocity, and the latest in water heating technology is installed in each unit. Over half of the units are sold or are under agreement currently, however, there are still excellent floor plans and units on all levels of the building that remain.

By far, the most outstanding features of the units are the stained and scored concrete floors, the high-end Fisher-Paykel kitchens, and the Italian bathrooms. You can tell that each unit is well-done, with excellent craftsmanship.

The inside story behind the quality at 36 A is that the developer was going to personally live in the building, so he built it to live up to the high standards of himself and his family - given some recent changes in the developer’s family (good things), he will no longer own within the building, but the high-end finishes and craftsmanship have stayed.

We are providing buyer representation for those interested in the Lofts at 36 A, please contact us for more information, to setup a showing, or to provide assistance in writing an offer.