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If you haven’t noticed the Seaport District is on its way up. I am willing to bet in 5 years its one of the hottest areas of Boston. As the Fan Pier Devlopments start to rise in the skyline along with the iconic Contemporary Arts Boston and the massive convention center. You can see this will be a booming area.The fort Point Channel has been attracting celebs like Tom Cruise and Cameron Diaz to some of the new hot spots like Barbara Lynch’s a South Boston native new bar Drink and Cafe Sportello. Also the $500 million Atlantic Wharf is on its way to completion. South Boston also continues to buzz with cool new Condos like FP3 Boston with condos starting at $300K. I will continue to watch and report on this emerging market.

If you are interested in FP3 or Seaport District condos please contact Herb Rikeman 617-930-4800 at contact@rikemanre.com or www.bostonerealty.com for more info prices and floor plans.

The Bryant aution will offer up to 48% off on 10 units. This is a very good opportunity to get a luxury condominium at a premium price. The building has low condo fees and the best of both worlds location to walk to the best restaraunts like Hamersly’s Bistro and Mistral or skip over to Copley Square Mall. I have been watching this building since its opening. Wonderful finishes and nice size rooms. Some amenities to name a few:

• South End views
• 24-hour on-site resident manager and concierge services provided by Barkan and Tillingers
• Secured on-site parking garage
• Fitness Center (coming in December)
• Private storage units
• Spacious floorplans
• Low common charges

Auction Day Event

Saturday, Oct. 17th

The Colonnade Hotel
120 Huntington Avenue
Boston, MA 02116

Directions to the hotel can also be attained through
http://www.colonnadehotel.com/location/

Registration is required for each bidder to attend the auction
and to become eligible to bid.

Bidders should arrive for check-in at 12:00 pm.

The Auction will begin promptly at 1:00pm
and will last approximately 1 hour.

• On auction day, all approved registered bidders are required to bring $20,000 certified check as well as a blank personal check.

If you are interested feel free to contact me for a preview. I am available Saturday or Sundays and will be at the Bryant touring units with clients on this Saturday Sept 26th 2009. My direct contact info is Herb Rikeman 617-930-4800 or contact@rikemanre.com www.bostonerealty.com www.luxreblog.com

Luxury renovation to a turn of the century Grand Cambridge Colonial by local master craftsman. Unit on 2nd floor Features 2 Bedrooms/2 full Bathrooms all red oak hardwood floors, eat in kitchen with cherry cabinets, granite tops, and GE Profile SS gas appliances, Moen sinks and faucets. Marble master bath with Toto and Kohler fixtures w/ granite. Central Heat and A/C. Washer& dryer. Extra Storage. Private deck and deeded parking.

MLS# 70970823 Contact: Herb Rikeman 617-930-4800 for more info. 

The housing slump and the credit crunch continue to take a toll on Boston’s condominium market.

“High-worth individuals who are the potential buyers of luxury condos watched as their stock market portfolios were decimated by as much as 40 percent in the last year,” said Michael Albano, broker-owner of Metropolitan Boston Real Estate. “They’re waiting for it to rebound before they pour money into real estate.”

Sales of luxury condominiums priced at $500,000 or more fell by 39 percent for the first seven months of the year to 409, from 673 for the same period one year ago, according to the Warren Group.

For some of the developments, the prices are still too high, according to one buyer’s agent. FP3, the 89-unit building in the city’s Fort Point neighborhood, has struggled to sell units priced up to more than $2 million.

“I’m the biggest fan of FP3, but the prices are out of whack,” said Anthony Longo, owner of Boston.CondoDomain.com, an exclusive buyer’s agency. “People will buy it, but they want to buy at very low prices.”

Timothy Warren Jr., CEO of the Warren Group, noted that sales of Boston condominiums in all price ranges are off by 33 percent compared to last year and the median price has fallen by 10 percent to $500,000.

“It’s not just the upper end that’s not selling,” he said. “But high-priced condos are bankers’ least favorite thing to invest in these days.”

Boston Hearald Report

Yes, It’s true! How would you like to live in a full service luxury building with a roof-top pool, fitness center PLUS an included parking spot for under $2000

These apartments were all recently renovated and offer:

*Roof-top Pool
*Great location
*Terraces
*24 / 7 Concierge and Security
*Stainless Steel Appliances
*Marble Countertops
*Underground Parking (INCLUDED!)
*Fitness Facility

These apartments, just like 90% of our rental listings have NO REALTORS FEE.

Call our office today at 617-236-5005 and we can arrange a showing of these beautifully renovated apartments.

The Obama administration plans to use $4.25 billion of stimulus funds to spur the rental market, a significant departure from former President George W. Bush’s vision of an “ownership society.” The move is a practical response to the economic crisis, the credit crunch and soaring foreclosure rates, as well as an ideological shift. “I’ve always said the American dream should be a home — not home ownership,” said Rep. Barney Frank, chairman of the House Financial Services Committee. ~ Boston Globe