In what seems to be a developing trend, the Macallen Building in South Boston is beginning to offer a sizeable chunk of its remaining inventory (still owned by the developer, Pappas Properties) for rent.  Certain units have been identified as rentals, however, in effect, the entire inventory also remains for-sale, and for-sale prices have been dropped substantially all the way into the $400 per square foot range – in light of the economic downturn, rentals appear to be the best option for the Macallen and their current specials show that they are serious about having them rented fast.

This special rental offer is on the table for renters who choose a 14 month lease, beginning on or around April 1st, and involves two months of free rent – all utilities (even Direct TV), and one garage parking space all included in the rental fee.  It’s extremely rare for a building that offers such a stacked list of amenities and quality to offer such a promotion.  From its newly finished onsite gym to the heated three-season pool on the 20,000 square foot landscaped terrace, to the soon to open gourmet market, the things to do right at the Macallen Building outnumber those in several small New England towns.  Not to mention it’s located right next to the Red Line Broadway T stop  and the Harbor Walk.

Rents start at $2,200 for the one studio that is available, $2,250 for spacious and open loft 1 bedroom units, $3,500 for 2 bedrooms, and $6,900 for the one 3 bedroom currently available.  If you factor in the 2 months free, most of the rents will come down by at least $300 per month effectively, which makes this offer rather compelling for the trendsetting renter to live in one of the most unique buildings Boston has ever seen.

- Jay Alberino is the Founder & CEO of Eleven Park Realty, and has recently launched myCityApartment, a guide to houses and apartments for rent in Boston, Brookline, and Cambridge. Jay can be contacted to stay up to date with prices and offers, or to take a tour of Audubon Park or other apartments in Boston.

Not long ago, all of the remaining developer units at the Macallen were removed from the Boston MLS and LINK systems.  The sales staff at the Macallen continues to show units via direct appointments, but does not currently appear to be soliciting sales via the broker community.  In light of this current, and more than likely temporary, situation there is only a single unit listed for sale at the Macallen Building via the MLS systems of Boston, and it just underwent a significant price reduction, making it the most attractive (figuratively and literally) condo in the 140-unit development.

Unit 206 is an 801 square foot south-facing unit on the 5th floor that is currently configured with a sleeping alcove, but could easily be converted into a true one-bedroom.  The Macallen Building, and its sister development, Court Square Press, are stacked with amenities, and given the economies of scale with the two buildings, access to these amenities is kept reasonably low with a $396 monthly HOA fee.  Originally listed at $448,800, the Seller recently reduced their asking price to $419,900.

The first open house at this new price point will take place Sunday, January 18, 2009 from 1:00 PM to 3:00 PM.

According to the Boston MLS, there are currently 11 units for sale at the South Boston green Macallen Building.  The development, and the process that made the Gold LEED certified building a reality, was featured in a documentary film called the Greening of Southie – for those that live in the development, and for those interested in potentially living in the development, the film is an eye-opening experience to the painstaking process that went into the LEED certification effort.

The 11 condos for sale at Macallen currently have an average listing price per square foot of approximately $614.  Unit 206, an open floor plan south-facing one-bedroom 801 square foot unit is currently listed at $448,800 ($560 per square foot), and represents the least expensive one-bedroom Macallen condo.

The Macallen Building represents concierge luxury living in a convenient location, with easy access to downtown via the Red Line across the street, and the city’s highways in close proximity. For more information, please use the contact us link at the top of this page.

South Boston’s Macallen Building, Boston’s first Gold LEED certified condo development, offers Buyers a stocked lineup of amenities, from a heated lap pool, to screening room with adjacent kitchen and bath for private parties, high-end fitness center, and 24-hour concierge.

Listed at $448,800, the least expensive 800+ square foot condo in the building for sale, unit 206 offers an open floorplan with sleeping alcove and high-end amenities galore.  Monthly HOA fee of approximately $396 includes Heat, Hot Water, Gas, Water, Sewer, Master Insurance, Security, Swimming Pool, Elevator, Exterior Maintenance, Landscaping, Snow Removal, Exercise Room, Internet, and DirecTV.  Onsite direct access parking is available for rent, or purchase (at $50,000).

Unit 206 at the Macallen Building will be held open Sunday, October 19, 2008 from 1:00 PM to 3:00 PM.  Across the street from the Red Line’s Broadway T-Stop, it’s a convenient location to stop into during your Sunday afternoon.  For more information, please contact us using the link at the top of this page.

Absorption of the 140-unit new green (LEED certified) Macallen Building in South Boston has been steady since its opening in summer 2007.  Given the complexities and care that go into the development of such an environmentally-friendly and progressive building, price points are naturally  higher than its adjacent sister condo development, Court Square Press. That said, we predicated that a fully sold out Macallen Building would take slightly longer than perhaps a “standard” condo development elsewhere in the city, but nonetheless, Macallen is quickly approaching a sell out.

The sales team at the Macallen has the privilege of pushing a really good product.  And when we say good, we mean amenities galore, attention to clever details, accommodation / willingness to work through any punch list items to make a unit perfect, easy transportation (public and private) access, and an anchor property in a neighborhood now well-grounded in high-end condo developments and emerging commercial and retail space.  Additionally, the marketing effort has been helped by some innovative sales plays, the most notable of which involved the sales office giving a free hybrid car to unit Buyers that went Under Agreement and closed by certain deadlines (see Buy at Macallen, Get a Free Hybrid Car).  The latest move is perhaps not as headline catching, but provocative in its own right, as some units have been reduced in price upwards of $100,000.

Take for instance unit 804, a 1,191 square foot two-bedroom two-bathroom unit that features a balcony, lots of light on a high south-facing floor, and one deeded garage parking space in the direct elevator access garage, recently reduced approximately $100,000 to a new listing price of $689,000.  While the onsite sales office is accessible seven days a week, an open house was held this past weekend, and traffic in response to the price moves, was strong.

With the crisp, clean, and minimalist type lines and finishes at Macallen, the look may not suit everyone’s taste, but it’s hard to argue with the community that is being created between Macallen and Court Square Press (the two buildings now combine to form one condo association), and the living style and amenities (bordering on the “valet lifestyle” that we coined here) that are at your fingertips.  For more information on available units at the Macallen, contact us using the link at the top of this page.

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.

Much has been happening this week, the activity levels on multiple fronts (announcements, under agreement properties, website traffic, auctions, etc.) is truly starting to create a buzz around town. Here is some of the latest.

Auctions – yes, that’s plural, it looks like downtown Boston residents will see at least two auctions in the near future, both at the Modern South End and the Broadluxe. Stay tuned for more information as it becomes available (i.e. auction dates, etc.). Update: see Modern South End Boston Condo Auction.

285 Columbus Lofts – construction is flying along, as well as under agreement units. Occupancy is currently being targeted for mid May (this would be the first on time or ahead of schedule development in quite some time) and they are approximately 60% sold out at 285 Columbus Lofts – congratulations to Pat Cutter and the rest of the team there, fabulous property.

Parking Spaces – we just included a new Back Bay parking space for sale on our Boston Parking Spaces page – $90K for an inside tandem spot is pushing the envelope.

Macallen Building Video – the green Macallen condo development in what we call, northern South Boston, is getting some serious exposure from the Sundance Channel in a new feature film on the “greening of Southie”. Kudos to Pappas Properties for establishing green building as the new benchmark in Boston condos.

The Clarendon Back Bay – the ultra luxury Clarendon Back Bay began to install a huge plywood enclosure system from PERI Formwork Systems on the development. Soon the entire property will be covered in plywood so construction can continue behind it. Rumor is that large Boston Condo Guy ads will be displayed on the exterior of the plywood.

1330 Boylston Now Leasing – The new Fenway development is now leasing for August 1st occupancy. Contact the leasing team at 617 267 1330 for more information (look at that, catchy phone number, eh?).

Boston Marathon – not Robert Cheruiyot, but, John Keith. Congratulations go out to John for knocking out the tough course in a strong 3:45:29 finishing time, and for raising thousands of dollars for Community Servings in the process.

Some definite water cooler tidbits from the Boston Condo Blog. For more details, or for assistance in buying or selling a downtown Boston condo, please contact us.

We’ve received several inquiries lately regarding condo (HOA) fees at the Macallen Building in northern South Boston. HOA fees at Macallen include: Concierge, Heat, Hot Water, Gas, Water, Sewer, Master Insurance, Security, Swimming Pool, Elevator, Exterior Maintenance, Road Maintenance, Landscaping, Snow Removal, Recreational Facilities, Viewing Room, Exercise Room, and a Garden Area.

The Macallen Building is the first LEED certified development in Boston. Currently available units, and their corresponding fees, are detailed below. For more information about Macallen, or to setup a showing for a unit that fits your buying criteria, contact us.

Our Featured Open House of the week is taking place at South Boston’s green Macallen Building. From Noon – 2 PM on Sunday, December 16, 2007, Pappas Properties will hold open units at not only the Macallen Building (141 Dorchester Avenue), but their adjacent Court Square Press loft development.

This weekend provides you the opportunity to see two of the finest properties in northern South Boston. Let them know that Boston Condo Guy sent you, and if you need Buyer representation on a purchase, please contact us.

If you act fast, you can still take advantage of the Macallen’s year end clearance sale (see Buy at Macallen, Get a Free Hybrid Car).

Forget about a free plasma TV, or a year of HOA fees, we’re talking about a free hybrid car as a buying incentive at South Boston’s Macallen Building. Pappas Properties, the developer of the 140-unit green Macallen Building is offering a year-end clearance sale to entice Buyers into their units, and wow, are they going all out.

On a limited number of available units, prices have been slashed by upwards of $200,000 (for instance, unit 119 was listed for $1,160,000 and is now $929,000), putting price per square foot ranges on some units into the $500’s. If a Buyer reserves a unit before December 31, 2007, and closes on the property before March 1, 2008, the developer will give the Buyer a Toyota Camry Hybrid car, or, $30,000 if a car is not desired.

We’ve talked a lot about the Macallen, it being the first LEED certified green development in Boston, concierge building with amenities galore, truly setting a new baseline in northern South Boston, if not the city. And they continue to set a new baseline with unheard of Buyer incentives.

Please contact us to learn more about how to take advantage of this opportunity.