Condo Blog - A Non-Corporate Blog From CondoDomain HQ

Harborview at the Navy Yard seems to be one of the hottest pre-construction condo developments in town. We took a ride by today and saw the 11-story steel grid already up. This development is definitly full steam ahead. We plan on shooting a Condo Casts with the Harborview Team which includes Trammell Crow Residential & Otis & Ahearn marketing.

Harborview at the Navy Yard is on our list to watch closely….

Visit condoDomain for more information on Harborview at the Navy Yard Condos.

or www.harborviewnavyyard.com

The South Station area will see monumental changes over the next decade, as a development team led by Hines Interests LP yesterday received the go-ahead to build a 40-story glass office tower, hotel, and other buildings on a block now dominated by trains and buses.

Hines, along with its development partner, TUDC LLC, a subsidiary of Tufts University, intends to begin construction next year on the first phase of a decade-long build-out, 1.76 million square feet of air space over South Station and above and along the adjacent bus terminal.

When complete, the connected complex of buildings will include a sleek tower designed by famed architect Cesar Pelli, a 200-room hotel, condominiums, office space, stores, and 943 parking spaces. It will cost an estimated $800 million.

Continue…

Source: Boston Globe

Domain names are getting even more creative than the condo developments themselves these days. Below are some domain names that have caught our eyes recently.

360 Condos (Austin) - lifesurroundsyou.com

Westin Condos (Providence) - livingatthewestin.com

Chocolate Condos (Calgary) - chocolatecondo.com

Myanda (Denver) - myananda.com (Named by Dr.Deepak Chopra)
yooarehere.com - (Our pals over at the design development firm in New York/London.)

Know of a unique domain name that has been tied to a new residential condo development…let us know. CoolDomains@condoDomain.com

A New York development team yesterday won Boston Redevelopment Authority approval to turn a couple of mostly empty yellow-brick warehouse buildings on Summer Street into 86 luxury condos, adding five glass penthouses residences on top.

The properties at 316 and 322 Summer were formerly part of the historic, 80-building Boston Wharf Co. portfolio of waterfront warehouses.

“These buildings have good bones,” said Tony Goldman, chief executive of Goldman Properties, breathed hip new life into run-down neighborhoods from Soho in New York to South Beach in Miami, last year turned his attention to Boston.

Goldman’s vision is to make the old Boston Wharf name synonymous with a district where people who live, work, dine, and have fun — inside, on the roofs, on the sidewalks, and in the streets.

“I want to see entrepreneurial expression, risk-taking, and creativity” and the buildings are redeveloped, Goldman said, walking briskly down a cobblestoned alley now covered by blacktop but soon to be restored.

Ten of the buildings Goldman purchased with his partner, Archon Financial, will be extensively renovated. The other seven, commercial buildings, were previously modernized by Boston Wharf and are known in the industry as “stabilized” –- they are 85-percent occupied with good-paying tenants and don’t need immediate attention.

Source: Boston Globe

We toured these gorgeous “Brick & Beam” buildings with Albert Price, Managing Partner of Goldman Properties; and there is so much to say about this ‘neighborhood transformation.’ The Goldman portfolio sits in the middle of the soon to be mega transformation of South Boston’s waterfront. With superior easy access to transportation & walking distance to downtown Boston…these new luxury loft-style condominiums will be a true value added addition to the neighborhood. Keep an eye on The Boston Wharf buildings in the upcoming months…we believe them to be an instant hit with those seeking a superior product with unique spaces in an emerging downtown neighborhood!

- condoDomain Boston Team

Fed raises short-term rate yet again
The Federal Open Market Committee raised the target federal funds rate by a quarter point, to 5.25 percent.

17th increase
Central bankers have now raised short-term rates 17 times in a row, a quarter-point at a time. The rate-setting panel meets eight times a year and started this rate-hike cycle on June 30, 2004. For a year before that, the federal funds rate had stood at 1 percent and the prime rate at 4 percent.

The Fed raises interest rates to combat inflation. Prices have been rising a bit faster than the central bank prefers. As interest rates rise, consumers and businesses borrow less and buy less. The resulting reduction in demand for goods and services is supposed to keep prices down.

The Fed said - The central bank hinted that at least one more rate increase is likely, but that there probably won’t be many more.

Read On…

Thinking about REFI’ing or buying…act soon.

Source: BankRate.com

The Providence Condo Market remains super HOT! We recently got to visit the four largest and most exciting new condo developments in Providence, RI. Information on all of these properties is found on www.providence.condoDomain.com

the 903 - As a property, The 903 is impressive. But what truly defines The 903 is what surrounds it. Living here means that you’re minutes away from the best shopping, dining and entertaining that Providence has to offer.

Waterplace - Located in the heart of Providence on Waterplace Park where the Woonasquatucket and Providence rivers converge, Waterplace Luxury Condominiums offers residents downtown city living with the outdoor luxuries of the suburbs.

ONE TEN - Located at 110 Westminster Street, ONE TEN set the standard for refined living in Providence. An oasis in the heart of the city, ONE TEN is designed to luxury condominium standards of architectural style and private amenity.

The Residences at the Westin - Located in immediate proximity to Capital Center, WaterPlace Park and the Downtown Financial District, The Westin Providence Hotel and The Waterford Residences will have commanding panoramic views of Narragansett Bay, the prestigious East Side of Providence, the Financial District and points west.

Truly a renaissance…downtown Providence is re-emerging into a total 24 hour downtown live, work, play neighborhood. View downtown Providence on our new Microsoft Virtual Earth Maps!

Find out on Microsoft’s new adCenter Labs.

This tool allows you to see the demographics visiting your site. As you can see above we are pulling nearly 50/50 men & woman ratio and 50.2% of them being 25-49. (Fits rights in with what we have been reading the past few years). We are also very pleased to see our empty nester clients (50+ category) utilizing a large 13.2%.

Visit Microsoft adCenter Labs for more information & other great tools.

The House by Starck set to start construction this summer. The House by Starck is set to be 28 stories and 150 “uninhibited” units. The House is designed by famed 20th century French designer Philippe Starck and Yoo Ltd., and located in the heart of Victory Park. Starck has revolutionized the design world with a unique blend of elegance and irreverence. He has been incredibly prolific with his design influences seen in a wide range of products from hotels to furniture to industrial design. The House promises to be a future icon in Dallas for years to come.

See The House by Starck on condoDomain.com

Source: AlCoker.com & TheHouse.com
Other YOO USA projects going on right now are:

Jade - New York
Downtown by Starck - New York
Parris Landing - Boston
YOOD4 - Boston
Icon Brickell - Miami

Ivana’s tower in Las Vegas was scrapped and Great Barrier Reef development was said to be in danger. But proving she’s still a Trump in spirit at least, Ivana is trying again. Her latest project is La Residence by Ivana Trump, a 27-story tower in Beirut. Trump is working with DAMAC Properties to create the tower of one, two, and three bedroom apartments,  duplexes and penthouses with views of the Mediterranean Sea. Amenities include marble and wooden flooring, a children’s play area, smart home technology, swimming pool, an exotic sauna and Jacuzzi, gym, several restaurants and  24 hours concierge service.

As always we wish her the best of luck…but we will see if this one gets off the ground.

Source: Luxit Blog 

New API Condo mapping tool now live on condoDomain.com. Using the lastest technology provided by Microsoft Virtual Earth you can now get crystal clear aerial photography scene above. Above is Azzurra Condos in Los Angeles currently underconstruction in Los Angeles.

Play with the map here. 

Italian for “SKY BLUE”, Azzurra is a 19-story icon of azure walls and translucent glass revealing an exquisite collection of 450 private residences ranging from an intimate one-bedroom residence to an opulent 3,571 square-foot penthouse. Floor-to-ceiling clear glass walls create the illusion of total transparency. Oversized balconies look out onto breathtaking city and marina panoramas, sweeping up to 270 degrees in some residences. Dramatic and striking, the impeccable private interiors are highly amenitized, emphasizing a contemporary design aesthetic.

See Azzurra condos on www.la.condoDomain.com

Visit www.azzurra-delrey.com

We had the pleasure of visiting the first open house at 44 Snow Hill today - What a great project.  As you can see above there are stunning views of downtown Boston from 4 of 5 of these newly converted condominium units.  A few of us in the office used to live in the North End and it truly is the best neighborhood in Boston.  If your looking for a quiet, brand new condo (which is impossible to find in the North End) - 44 Snow Hill is the answer.

Prices start at $475,000 and condo fee’s are very low - which makes these units truly affordable!

44 Snow Hill is being marketd by Antonia Monarski of Otis & Ahearn (Waterfront Office)

For more information visit www.44snowhill.com 

A Hanley Wood study of 54 high-rise condo projects in California revealed that units were mostly popular with childless professional couples and singles, with some interest from empty nesters and far less interest from young families. Also, high-density housing has been increasing across the country. In 1990, residential development with 20 or more units accounted for about 8.1 percent of the U.S. housing stock, 10.7 percent of California’s housing stock, 19.7 percent of the housing stock in San Francisco County, 11.2 percent of the housing stock in Orange County, and 12.7 percent of San Diego County’s housing stock.

……”These buyers have money. They have disposable income. They want professional management. They’re comparing the management of their building to a hotel. They want to see the pool guys out there organizing the lounge furniture. They want to see where their dollars are going.”

Read the entire article.

Source: Inman News

The $624 million project was just denied public funds to help construct the 7 acre deck’s above the Massachusetts Turnpike. We would all love to see this project move forward but with construction costs soaring we will have to wait and find out. More details to come on Columbus Center.

On another hand - just around the corner Simon Property Group - owner of the Copley Place Mall may be has a 50 story tower in mind to be built on the parcel in front of Neiman Marcus.  Sources say that this tower may include a St. Regis Hotel and 450 residential condo units.  More to come on this exciting new development in Boston.

Source:  The Boston Courant

Sky Las Vegas, the first luxury, high-rise condominium on the world-famous Las Vegas Strip, was topped out at Noon today when more than 600 construction workers of M.J. Dean Construction Co. of Las Vegas sent a symbolic fir tree skyward on a placing boom. The final portion of the concrete roof had been set in place earlier in the day, completing the exterior superstructure and the symbolic tree was attached following a long-established tradition in the construction industry.

Sky Las Vegas is near a sellout of its luxury units and continues on schedule to be completed by mid January 2007. Units that remain for purchase start at $734,000 for 1,063 square feet of living space. Luxury condominiums are available on most floors with views of glistening lights and the surrounding mountains.

Sky Las Vegas will usher in a new era of luxury living on the Las Vegas Strip when its first residents move in early 2007.

The 45-story, $325 million, luxury condominium high-rise will be the first of its kind located on one of the world’s most magical boulevards. Sky Las Vegas will provide the ultimate location for those seeking immediate access to the electrifying entertainment, abundant shopping and incomparable dining experiences of The Strip.

Visit Sky Las Vegas on condoDomain.com 

The Sky Las Vegas sales center is located at 2780 Las Vegas Boulevard South, adjacent to the condominium tower site. For more information, visit www.skylasvegas.com

BUT ARE STILL VERY LOW!

Mortgage rates rose this week, with 30-year mortgages climbing to the highest level in more than four years on investor fears about inflation.

Freddie Mac, the mortgage company, reported Thursday that rates on 30-year, fixed-rate mortgages rose to a nationwide average of 6.71 percent, up from 6.63 percent last week.

It was the highest level for 30-year mortgages since they averaged 6.76 percent the week of May 31, 2002.

The housing sector is slowing this year under the impact of rising mortgage rates after five boom years powered by the lowest mortgage rates in four decades. Analysts are predicting that sales of new and existing homes will decline by more than 10 percent as higher mortgage rates make home ownership more costly.

The Fed meets next week and financial markets now view it as a virtual certainty that the central bank will boost rates for a 17th consecutive time.

What does this mean for all of us? Not too much - If you are considering refi’ing your condo or home because you locked in on a 3yr ARM…do it now. If your looking to purchase a new condo or home…it also may be a great time to buy. Like myself we have gotten used to the 4% & 5% rates that made it affordable for everyone to spend a million dollars. Reality is though that 6,7,8% is still a great place for interest rates if you can lock in LONG TERM!
Source: Seattle Times & Bankrate.com & CondoMortgageGroup.com

Another Hot Condo Property in Dallas…

Yesterday you saw Dallas’s newest and most exciting condo properties:

The House by Philippe Starck, W Residences, The Terrace Condos & The Residences at the Mandarin Oriental.   Today we found another hip new property - The Mondrian City Place.

“

Geometry of Distinction…
Ideally situated at the hub of uptown chic, Mondrian residents enjoy a daily indulgence of style
and sophistication. “

The Mondrian at Cityplace Dallas is located between the city’s Central Business District and the Oaklawn, Highland Park and University Park neighborhoods to the north and west. Downtown is only 1.4 miles away. The M-Line trolley runs directly past the entry eclipse of the Mondrian providing easy access to Downtown, including the West End Entertainment District and the Arts District. There’s a DART light rail station within a five-minute walk.
For more information on The Mondrian at CityPlace Dallas. 

Live at the MALL!

Not a whole loft of information out on this hot new condo development yet….but we certainly will be following this new condo development closely.  Otis & Ahearn of Boston is marketing the new development and you can sign up on the VIP registration list on the Nouvelle at Natick website: http://www.nouvelleatnatick.com
For more information visit the Nouvelle at Natick Mall Condos website here. 

The first W Hotel in Texas opened in Dallas this week.

The W Dallas Victory Hotel and Residences offers 252 hotel rooms and 144 one- and two-bedroom condos. It is the first hotel of the brand to also have W Residences, which offer the owners of the condos the benefits of being attached to the hotel, including access to private in-home catering, VIP service at W’s restaurants and bars and daily maid service.

Victory Park’s 75 acre site connects Dallas’ revitalizing downtown to affluent in-town districts such as Uptown and Turtle Creek. Victory Park in Dallas is envisioned to be one of the most significant master planned urban developments in the history of the Southwest Region. See more on Victory Park in Dallas Here.

The Condominium components of Victory Park include:

W Dallas Hotel and Residences

The Terrace Condos

The House by Philippe Starck

The Residences at the Mandarin Oriental Dallas

We had the pleasure of touring the all new Westin Condos in Providence, RI today. This beautiful tower rises above downtown Providence 32 stories of luxury full service lifestyle living. Living at the Westin Condos will soon be a reality as construction is flying. They are just about completed on the first 5 floors which house the parking garage for the condominiums at the Westin. There after that they hope to push through another 27 stories of luxury amenity rich units.

Three compelling features on the condos in Westin include connectivity to the Providence Place mall via an indoor footbridge connected right to the Westin Hotel (which is also connected to the Westin Condos). Another great feature are the soaring views from virtually every condo unit - because the condos units start on the 16th story. The third compelling feature is obviously the amenities. 4 Star Westin Hotel amenities…from maid service, room services, laundry service…etc..etc…all of the hotel amenities are available to the Westin condo owners!

More to come as we watch the Westin Condos progress - stay tuned for special events. For more information on the Westin condos please visit www.livingatthewestin.com

Also visit their LIVE CONSTRUCTION CAMERA and take control of your view.

Source: condoDomain.com & The Procaccianti group

Obviously A LOT!

Dubai is one of the seven United Arab Emirates, and it’s been noted as the fastest-growing city on the planet. In fact, it has all the makings of a blockbuster success of epic proportions.

It lies on the southeastern shore of the Persian Gulf, strategically located at the cross roads of Europe, Africa, the Middle East and Asia. This makes it a gateway to over 1.5 billion consumers.
Investors from all over the globe jumped in with both feet. They recognized the potential of Dubai which offered a central location, stable economy, secure political scene, zero property and income tax, and an unmatched standard of living.
An estimated $80 billion of real-estate projects is currently underway in Dubai.

Read more on Condo Hotels in Dubai at www.CondoHotelsDubai.com
Source: Condo Hotels Dubai

The Jade sets new design presense with POD living. Above the ‘luxo pod’ houses everything in your new condo - bathroom, kitchen, closets! This state of the art development team includes YOO by Jade Jagger, The Copper Group Inc. Perkins Eastman & SHVO marketing.

The new condo development JADE is located at 16 Weset 19th Street

Visit www.JadeNYC.com for more information

Today is our official grand launch for our new web marketing engine condoDomain.com including 32 US markets & Toronto.

We want to thank all of you who have supported us in the early stages of production especially our clients who believed in our marketing approach before anyone else. Our design & implementation team has been priceless, sales - you guys are awesome & all of our investors and business development partners, thank you for your support, advice & council. We already know condoDomain is a huge success…now we will continue to create, test & market more tools to support the professional real estate community. Thank you all again and we look forward to many more success stories.

Sincerely,

Tony Longo

View a copy of today’s release

Mark Siffin aims to alter downtown Miami’s future — if his own complicated past doesn’t get in the way.