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Boston Rental Snapshot

Typical and exceptional.

 

The following is an excerpt from our Fall 2014 Open Letter to South End Stakeholders, a report on the state of the South End real estate market and a glimpse into life in our neighborhood. You can download the full report here.


"Boston's luxury rental market is characterized by a blur between wants and needs, and tenants who can afford both."

-- Kevin Concannon, Steven Cohen Team Rental Specialist

 

After a number of years of steep (sometimes double-digit) growth, the Boston rental market has begun to stabilize. Rent in the South End in the first half of 2014 was up a token 1% from 2013. Below is a comparison of one-, two-, and three-bedroom apartment prices across the city for July 2013 - June 2014.

Two penthouses tied for the highest rent obtained in Boston between July 2013 and June 2014: one in Midtown's Ritz-Carlton and another in the South End's Albert A. Pope Building. The Ritz penthouse offers a no-compromises apartment in the full service environment that luxury tenants demand. The Pope property is a one-of-a-kind rental; it is literally a house on top of a building in the heart of the city, with Mistral's French cuisine at your doorstep. 

Albert A. Pope Building

221 Columbus Avenue, Penthouse

  • Rented: $25,000/month

  • Size: 3,500 sq. ft.

  • Bedrooms: 3

  • Bathrooms: 2½

  • Parking: 2

Ritz-Carlton

1 Avery Street, Penthouse

  • Rented: $25,000/month

  • Size: 2,971 sq. ft.

  • Bedrooms: 3

  • Bathrooms: 4½

  • Parking: 2


Find this story and more in our Fall 2014 Open Letter to South End Stakeholders. Read all about the latest real estate trends, forecasts, and an in-depth look at the South End community.

 

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