Updates in the world of Commercial Real Estate
Loews Hotels & Resorts will be buying the Back Bay Hotel located on the corner of Berkeley and Stuart Streets. The hotel, which is owned by the Doyle Collection, is a historic building within the Boston community. The property was built in the 1920s and has undergone a few renovations since its inception. This upcoming acquisition will […]
Rental rates are up 6.4% year-over-year in 2012, reports Trulia. The median monthly rent for Boston is now a steep $2,400. Most brokers expect an increase in demand during the early months of the calendar year due to lease expirations from the previous year. However, there is some relief for individuals looking to lease a […]
Zipcar Inc. announced yesterday in a press release that they will move their offices from Cambridge to Boston. Zipcar plans on occupying 35 Thomson Place in the Seaport District. They plan on occupying the entire 6-floor 46,000 square foot building. This all comes as a clear push to make the Seaport District the new Innovation […]
Real estate developer Avalon Bay Communities recently revealed plans for a 38-story apartment building located across the way from Boston’s North Station and TD Garden arena. The project, dubbed Nashua Street Residences, will include a total of 503 studios of varied sizes. However, the proposed project is not set in stone. The company stated that […]
Good news for the Massachusetts housing market—sales of single-family homes increase by an astonishing 21% in October compared to last year’s figures. Furthermore, the Massachusetts Association of Realtors reported that October was the 16th consecutive month where sales were higher than during the same month in the previous year. In addition, the group also reported […]
Cambridge and Boston have taken the lead as the first and second destination for venture capital within Massachusetts. The two cities, which previously maintained a slight lead from other destinations like Waltham and Woburn, have recently stolen capital share from neighboring cities. Below are two heatmaps, developed by CB Insights Industry Analytics, which consist of […]
Things are not going well for party good retailer iParty Corp. In early November, iParty Corp. reported sales of $16.4 million for October, a 6.5% drop from total sales from the same period last year. Furthermore, the retailer recently received a compliance notice from the NYSE due to the company’s extremely low selling stock price. […]
PNC’s annual gift CPI is out and Christmas is as expensive as ever! One partridge in a pear tree: $204.99 (Up from $184.99 in 2011) Two turtle doves: $125.00 (No change from 2011) Three French hens: $165.00 (Up from $150.00 in 2011) Four calling birds: $519.96 (No change from 2011) Five gold rings: $750.00 (Up […]
Last week, the Federal Housing Administration made headlines when it ended September with $16.3 billion in projected losses. Now some officials are speculating that the Administration will need a taxpayer “bailout” by the US Treasury. The FHA is required to hold cash in reserve to cover its liabilities—the mortgages it ensures. However, the housing recovery […]
