A lot has been written and said about the real estate resurgence in Boston the past year; to some, most are just figures and numbers that translate to statistics. To the few in the know, these figures are more than that - they're a reflection of the uptick in a market that's been a sore topic of conversation since the financial crisis hit in 2007. But Boston has since recovered, ever so slightly inch by inch.
But not only has the scene gone up, it did so with a vengeance as the hottest home closings topped everyone's expectations, with deals going over $12M for a single family home. And to further educate you on what's the reality of the recovery, here's a list of twenty twelve's top ten home sales across the city's vast metro area:
A 15,000-square-foot, single-family home is at the top of the list, closing at $12.5M. Formerly the headquarters of the Boston Psychoanalytic Society and Institute, this 1867 multi-level property was originally listed for $15M. This prime piece of real estate at #15 Commonwealth Avenue dates back to 1867 and was designed by Boston's own architectural firm, Snell and Gregerson. It has seen multiple owners, converting itself many times over from residential to commercial, and is now back to being a home for its lucky new owner.
It seems that the priciest address is really along Commonwealth Avenue, since coming in second place is a townhome located at #115 by Back Bay, and closing at $10.6M. Listed for only fifty days, the property was originally configured to be a five-unit rental but is now back to a single-family use. And indeed the family will be very satisfied, as the brownstone boasts of a large roof deck area, as well as three parking spaces and a small patch of greenery for gardening (or plainly for musing).
Not to be outdone, the nearby suburb of Chestnut Hill in Brookline also set a record sale last year with the sale of #333 Lee Street. Listed for almost a year for $12.5M, the 16,703 square-feet prewar Gregorian estate closed for $10.5M, not bad for a home that sits on three acres of land, has 20 bedrooms, 10 fireplaces, an outdoor pavilion, a gallery for entertaining, and finally (and most ostentatiously), an indoor olympic-sized swimming pool.
Aptly coming in fourth is the 6,570-square-feet townhouse in 3 Louisburg Street in Beacon Hill selling for $11M. Featuring five sizable bedrooms with baths and an extra powder room for guests, the property also comes with two parking spots right across its front door - a steal for the area, if you ask us.
The much-talked about Unit 11-B West at the Mandarin Oriental Residences comes in at number five at $10.3M. Sporting unparalleled views of the city, this unit has two - yes, two terraces front and side of its 6,111-square-feet of living space that includes three luxuriously-sized bedrooms, six baths, and a modern living, dining, and kitchen area.
Not only did celebrity-couple Tom Brady and Giselle Bundchen make page six in twenty twelve, but they also made local headlines as they sold off their penthouse unit at 310 Beacon Street for $9.2M. The 5,311-square-feet duplex with three bedrooms and baths took a while (almost 300 days) before getting snapped up, especially having been a celebrity home. The cause? Probably because its original price tag was pegged at $10.5M
Two homes make seven and eight, as they both sold for $9M. The first (and also the biggest sale per square foot) being a 4,083-square-feet penthouse at posh 100 Beacon street tower, having three beds and baths and a parking, and of course a spectacular view. Also with a view (of the country club), is 130 Warren Street in Brookline featuring 7,903-square-feet of livable space sitting on 3.7 acres of land with five bedrooms (all master-sized from the looks of it!).
Rounding out the list are two more homes that are tied for the ninth and tenth spots, both selling for $8.6M. Listed for less than a two weeks, the 9,276-square-feet 17-room mansion at 281 Fairhaven Hill Road in Concord is the ninth most expensive property in our list. The home features 16 acres of plot land and a tennis court, lavish pool and spa, and a horse paddock for the polo enthusiast. And finally at number ten is 153 Bayberry way in Cape Cod. The property has a total of 9,892-square-feet of living area, 5-bedrooms and seven baths, and is along the waterfront of Osterville - perfect for getting away this summer.
With reports from MLS and The Boston Herald.