Spring Market

In the past 30 days over 80 properties in one-square mile have sold or have been placed under contract. While the prices have gone down and leveled off for many properties, condos, singles, and multi-families ARE selling in Charlestown.

Properties that are priced to sell consistently do so, and in short time. Of the 35 properties that sold from 5-11-08 to 6-11-08, 12 properties were on the market for less than a month before they were under contract.

Can Condo ByLaws Be Legally Enforced?

This weekend's Boston Homes: The Complete Guide , aka, the real estate bible, ran a question/answer pertaining to condo bylaws. Linda Goodspeed was presented with the question, "How can I get the trustees of my condominium association to enforce the association's bylaws (evenly)?"

Goodspeed, the ever-steady pragmatist, writes, in response, "It's not pretty, but the short answer to your question is, 'You can't.'".

Godspeed exposes the rub that is owning a condo-that is, you are NOT ALONE. You have to concern yourself with the people in the building because you will be exposed to their problems, noises, odors, and all their "accoutrement's" of life. The condo docs and bylaws are (or should be) recorded documents that have legal weight in a court of law...but the path to get to this court of law is paved with {not-so} good intentions and even more of a concern for most people, money. Lots of money.

Goodpeed writes that the best route to advocate for equal enforcement in a building is to reason with the trustees, or to form an allegiance with other residents who feel the same way you do. Arbitration in the legal bowels of the judicial court are to be avoided at all cost. Remember, you LIVE with these people.

If you are the type of person who cannot deal with the arbitrary actions of other people, then you should be wary of buying into a building with many units. Consider a single family or multifamly where you can dictate the order of business around the building. Or, if your budget only affords you a condo run for trustee yourself!

One 1st Cambridge Developers Want To Sell!

Today Net Share Realty and real estate agencies Boston-wide received a thick stack of postcards, a poster, and a tasty batch of truffles to raise interest in the condos at One 1st Cambridge, a development in East Cambridge First and Cambridge Street. The development, which is comprised of five buildings and 86 different floor plans, is pushing to sell the remaining 2 bedroom condos. To entice local agents and brokers to bring their clients to ONE FIRST, a 4% co-broke commission has been offered until Dec 15th for 2 bedroom condos.

Turner Construction Sues HarborView Developer

Turner Construction Company filed a lawsuit against Trammell Corwe Company alleging that the developer misled the company into completing the HarborView complex in the Navy Yard despite not having the funds to pay for the services rendered.

Turner has field in the Suffolk Superior Court, siting that the company provided $10 million worth of work.

News Flash: Apartments in Building 33

A developer has requested to change the usage of Building 33 from office to residential space. Terry Conroy Jr., president of Conroy Development Company, believes that using the building for rental apartments is the highest and best use.

At the Sept 19 meeting of the Charlestown Neighborhood Council (CNC) Development Committee Conroy advocated for the rental venture that would convert the 47,500-square-foot, three story brick building into 49 apartments at a tune of five million dollars. The Building 33 project would entail, Conroy says, exterior improvements including pointing and the roof. An effort would be made to preserve exposed bricks and wood beams inside the building. The building would host 14 small one bedrooms that would rent for around $2,000 a month. There would be 25 larger one-bedrooms renting for $2800 a month. Finally, 10 two-bedroom penthouses which would fetch $3400 a month.

The CNC expressed concerns about the building becoming marketed for condos, trash removal logistics, and parking issues. Conroy addressed all the concerns siting that the building would not be marketed as condos, gave his plans for trash removal and explained he was in negotiations with Massachusetts General Hospital to secure 50 parking spaces. He is anticipating too, that many tenants would commute to work via the City Water Taxi that departs from Pier 8 in the Navy Yard.

The approval or rejection for this building will come from the Boston Redevelopment Authority sometime in October or November. The CNC Development Committee voted to approve the proposal and recommended its ratification at the October 2nd CNC meeting. The BRA is accepting public comments on the project until October 12. Correspondence can be sent to Geoff Lewis, Boston Redevelopment Authority, One City Hall Square, Boston, Ma 02201-1007