Robert A.M. Stern became famous for his signature modern-traditionalist style.  Stern was a pioneer in the post-modern movement.  An architectural style and attitude which brought the warmth and charm of traditional architecture to modern construction technology.

Stern was the perfect choice to design Back Bay’s first luxury residential tower.  The Clarendon sits on a previously underdeveloped parking lot diagonally across from The Prudential Tower.  Stern uses the massing of the building and uses Back Bay’s traditional brick to stitch together the neighborhood.  The magnitude of this 32-story tower is mitigated by Stern’s careful attention to scale, proportion and material.  The massing of the building was also studied to help alleviate the wind tunnel effect from the neighboring Prudential.   The ground floor houses a popular bar and a post office which helps to extend the neighborhood and nightlife of Back Bay.

The Clarendon is also one of very few ‘green’ residential towers in the nation.  Deciding to go green can add significantly to the construction cost but the trade-off is a safer, better quality, longer lasting and more comfortable building.  Building a green building means not only using recycled materials and using energy efficient appliances but also following stricter health and air-quality standards.

The building has both condominiums and rentals units available at One Back Bay. They are appointed finest finishes and appliances and boast luxurious amenities.  There are many different floor plans to fit a variety of lifestyles.  The location and height of the building grant it some of the best views of Boston and provide ample natural light. A world famous architect, prime location and green construction insure The Clarendon will remain one of Boston’s most desired addresses for decades to come.

If you are interested in any unit  for sale or lease please contact William Carr or Herb Rikeman buyer’s agents Direct- 617-236-5005 Cell-781-859-9805 Toll Free 877-580-5005 williamc@rikemanre.com contact@rikemanre.com  www.bostonerealty.com  www.luxreblog.com

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The Good news for first time home buyers is tax credit extended for sure. Congressman Maurice Hinchey helped secure legislation that will extend the $8,000 federal tax credit for first time home-buyers, and create a new $6,500 tax credit for people who have bought a home in the last five years. Hinchey says it was important to extend this legislation through April 30th of 2010, because it’s been a successful law so far.”It provides opportunities for people to buy homes who wouldn’t have the opportunity, because the $8,000 provides them with the incentive they need, and the additional financial help they need to actually buy that house,” said Rep. Maurice Hinchey, (D) 22nd District. Hinchey says he doesn’t know if there will be another extension, because it all depends on the program’s success.

We checked in with our lending specialist Jason Deeb at MSA Mortgage and here is what he sent us to help understand the process.  Jason Deeb says with the recent extension of the First Time Homebuyer Tax Credit, after consulting with many MSA clients who purchased a home for the first time and had difficulty visualizing the process. Many of our clients have found our flow chart extremely helpful so I wanted to pass it along to you to forward to your clients. Please let me know if I can send it to you or if you have any questions. Contact Jason Deeb Senior Loan Officer Direct: 781.486.7143 Cell: 917.721.2111 Fax: 781.245.7373 Email: jdeeb@msamortgage.com

Now is the time to rent in Boston.  With so many brand new building developments such as 1330 Boylston Harborview Charlestown; and Trilogy, recently completed there is a greater supply of luxury apartments than demand for them.  As a result, many buildings are offering very attractive incentives to renters.

Archstone Avenir is offering two months free on a 13 months lease.  This adds up to some big savings.  For example, a 1 bedroom which typically rents for $2,500 per month would now rent for $2,115.  A savings of $5,000 over the term of a 13 month lease.  Archstone is also paying the full broker’s fee, which is an additional month’s rent.  Essentially, you are getting 3 months rent for free.

Archstone Avenir is offering renters some of the most aggressive incentives but many other properties are following their lead.  Buildings, all over Boston, which historically had few available apartments are now offering one or two months free, reduced parking rates and waiving amenities fees.

For the most up to date incentives on all of the luxury buildings in Boston please give me a call or email me Bill Carr 781-859-9805 williamc@rikemanre.com

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

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

The Clarendon Building Boston is starting to look like a gem. Completion date scheduled for end of 2009. It will soon be a Back Bay icon building for sure. It will be the only true Back Bay hi-rise. It will be a mix of condos and rental units. They will have separate entrances and amenities. The Clarendon also has a valet garage parking. I love the location for the best of both worlds in city living and fine restaurants. You can stroll over to Mistral or walk to restaurant row in the South End and go to Hamersley’s Bistro.

Studio, 1, 2, and 3 Bedroom units available $700K-$5Mil. Parking cost is $150K.Please contact us to setup an appointment to visit the sales center. You can see floor plans and kitchen and bathroom models with finishes. Sales office is located in the first block of Newbury Street directly across the street from our office.   www.rikemanre.com