Featured Properties: Bostonian Elegance Redefined at Maison Vernon, Seven New Luxury Residences

ChevronPartners_69O4042_Hero_11x17_MHK_N_sRGB (1)Proudly standing atop Beacon Hill at 39-41 Mount Vernon Street, in the golden reflection of the State House, Maison Vernon defines grandeur in the most elegant of American cities.

Maison Vernon offers seven impeccably-designed luxury residences which embody the essence of luxury, harmony and balance. These brand new condominium residences remain true to their rich heritage while respecting the past and redefining for the future.

Enjoy single floor living on over 2,900 square feet in these three bedroom, three full and one half bathroom residences.  Each condominium offers unprecedented features incorporating the finest and most exclusive materials, the most extraordinary craftsmanship, together with state-of-the-art conveniences.

Maison Vernon is the perfect fusion of well-crafted modern European interiors with incomparable grand American architecture. The property features a fully restored historic building façade, an elegantly appointed European wrap-around staircase and grand unit entrances, 13’-9’ ceilings and private terraces ranging in size from 200-500 square feet.

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The living room boasts a 50’ wide, south –facing sun-filled living area with 11 windows and 3 exposures. Other features include imported French Oak chevron flooring, hand-carved Italian marble mantles and a gas fireplace.

Massive chef’s kitchens features imported Italian cabinetry and Carrara marble countertops. All Wolf, Subzero and Miele appliances were exquisitely selected.

The expansive master suite crosses the entire rear of the property and features an en suite bathroom, large walk-in closets and a three sided glass gas fireplace. Luxurious master bathroom boasts floor to ceiling hand-selected Carrara marble, elegant bath tubs with fireplace and city views.

MV Master Bathroom

Maison Vernon caters to its residents with attentive personal service providing services such as 24-hour valet parking service, 24-hour concierge, car service scheduling and more.

With its central location, the residences at Maison Vernon on Beacon Hill provide unmatched proximity to all the services, entertainment, arts and culture of Boston while enjoying a life of protected tranquility and charm.

MV Lobby INEvery aspect of these brand new condominiums have been thoughtfully considered. The Bostonian-Parisian development team shares a passion for design, commitment to quality and pride in craftsmanship, which all testify to this special project.

The luxury residences at Maison Vernon are exclusively listed by Beth Dickerson of Gibson Sotheby’s International Realty. For more information visit maisonvernon.com or call 617.510.8565.

Sotheby’s Auction House News: Contemporary Living Auction Correlates to Recent Rising Trends of 20th Century Collecting

Contemporary Life is a new sale concept originated from an increasing trend that has been observed across the 20th Century collecting categories of Prints, Photographs and Design. Wednesday, July 22, Sotheby’s will be holding their inaugural Contemporary Living auction in New York which is meant to provide a platform for people both new to and established in the worlds of art and design to material that is meant to be accessible, fresh and young.

According to Sotheby’s Senior Vice President and Chairman, Josh Holdeman, people are creating environments in which to live with objects from various discipline that resonate together rather than focusing on one singular category. Mixing and matching objects that “speak” to each other, either visually or thematically, seems to be an increasing trend in the way in which today’s modern interior is created.

The auction will showcase roughly 250 items and will feature artists and designers such as Diane Arbus, Helmut Newton, David Hockney, Andy Warhol, Ellsworth Kelly, Mies van der Rohe and George Nakashima. Featured below are some of the contemporary items up for auction:

1

David Hockney’s Pool Made with Paper Blue Ink, 1980. Estimate $10,000-15,000

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Nino Migliori’s “IL TUFFATORE (THE DIVER).” 1926 Estimated $4,000- 6,000

3

Charles and Ray Eames, Lounge Chair, Model No. 670 and Ottoman, Model No.671 Estimate $5,000-7,000

4

Der Rohe, “Barcelona” Daybed. Estimate $8,000-12,000

To provide objects relevant to the ways in which we live today in a presentation that is visually simple, calm and clear was the inspiration and goal for the inception of Contemporary Living.

For more information about the July 22nd Contemporary Living sale visit Sothebys.com. 

Boston Real Estate News: Downtown Crossing to be the Site of a New 94 Residential Unit Tower

downtown crossingA Boston-based development firm has proposed building a 30-story mixed-use tower in Downtown Crossing, according to the Boston Business Journal.

The proposed project is for a 305-foot high tower with 94 residential units on the top 26 floors of the 3,648 square foot parcel at 533 Washington Street.  With a modern glass and zinc tower on the 26 stories above the base, the architect and design will retain the existing four-story façade which will include restaurant and “collaborate workspace uses.”

A file documented with the Boston Redevelopment Authority stated, “The project concept is for a tall, slender tower, featuring excellent interior light and sight lines, which will capitalize on — and enhance — the resurgence of the Downtown Crossing. The residential population of this area is now beginning to achieve a critical mass, and the project will contribute significantly to the emergence of a true, mixed-use downtown neighborhood.”

Located at the former site of Felt, between the Boston Opera House and Suffolk’s Modern Theatre, this new development would be just minutes from the site of Millennium Tower, a luxury condominium development currently under construction.

Source: Boston Business Journal

Real Estate News: Dorchester Projected to see Further Growth Throughout with Dozens of New Units

IMG_0492 editDorchester has seen a tremendous amount of growth over the past few months in areas surrounding the Ashmont T Station and along Dorchester Ave. That growth continues to expand further into Dorchester as there has been a proposal for dozens of new apartments and townhouses in Uphams Corner.

According to Boston.com Dorchester Bay Economic Development Corp wants to build 80 one, two and three-bedroom apartments and six two-single family homes for sale. Also, the project will include 20,000 square feet for commercial or light industrial businesses.

This brand new project would be within an arm’s reach of the Upham’s Corner stop on the Fairmount commuter rail line on a site that was once the old Maxwell Box factory. The developer plans to acquire city and state permits for construction over the next six months with a two to three build-out period slated for the first phase of the project, the apartments.

The total project cost including the commercial space is expected to be a total cost of $36 million.

As prices continue to grow throughout the city, Dorchester is becoming more and more desirable for prospective buyers, renters and developers. For more information or to inquire about Dorchester living contact our experienced Savin Hill team at 617.825.0800

Sotheby’s International Realty News: The Provençal Estate of Johnny Depp Now on the Market

World renowned actor, star in more than 50 major motion pictures, Johnny Depp has listed his property for sale with a leader of luxury real estate in France, Côte d’Azur Sotheby’s International Realty.

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The estate is a former village comprised of approximately 37 acres with more than a dozen buildings – some dating back more than 200 years to 1812 when it was first mentioned in the French land registry.

The buildings include a main house, several guest cottages, a chapel, a workshop/garage, a staff house and more. The main house is made up of roughly 4,300 square feet and includes five bedrooms, three full and one half bathroom. Depp painstakingly restored and decorated all the houses of the village one by one over several years adding personal touch and exceptional character throughout at a cost of roughly $10 million.

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Alexander Kraft, chairman & CEO of Sotheby’s International Realty France explains “Contrary to many other properties of major international celebrities, Johnny Depp’s estate has not been decorated by an interior designer, but by Johnny himself. As a consequence, the estate is not a ritzy showplace, but an utterly charming family home that truly reflects Johnny Depp’s unique character and taste. Johnny used the property extensively to get away from the Hollywood hustle, recharge his batteries and reconnect with nature.”

Additional features include two swimming pools, a gym, a skate park, a restaurant with a full professional kitchen and bar, a romantic hunter’s cabin, a painter’s studio and a children’s playroom.

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The asking price for this charming property is approximately $26 million (€23.056 million). Including more than 12 bedrooms, 12 bathrooms and approximately 10,760 square feet of living space the sale will include some of Depp’s furniture, books, DVDs, art and many other personal belongings.

Johnny Depp acquired this estate in the picturesque village of Plan de la Tour, France, in 2001, and over the following 15 years spent a substantial amount of time on the property with his then partner, French actress and singer Vanessa Paradis.

Kraft concluded in stating, “Johnny has decided to sell the Plan de la Tour – property to close this chapter of his life and move on. He hopes that someone else will enjoy the property as much as he did and bring him or her the same happiness it brought him.”

For more information on this truly extraordinary property visit our website.

Sotheby’s News: An Auction of Contemporary Art from Warhol, Freud and Richter Combine to be Sotheby’s Most Lucrative Sale

Warhol One Dollar Bill

Warhol’s ‘One Dollar Bill (Silver Certificate) painted by hand in 1962 sold for an outstanding £20.9m

A new height has been reached at Sotheby’s as they achieved the highest total ever for contemporary art in London. The auction raised a total of £130.4m and included works from Andy Warhol, Lucien Freud and Gerhard Richter.

The total sales of £130,376,500 broke the previous record of £123.5m set earlier this year, with 49 lots sold on the night. “Bidders from across the globe were drawn to Warhol works that ripped up the rule book for 20th-century art; rediscovered Francis Bacon gems; and some of the greatest works by British artists of the last 70 years. Tonight’s achievements affirm the pivotal position of London within the international art market,” said Alex Branczik, Sotheby’s head of contemporary art.

Sotheby’s stated that 78% of the works had never previously been offered at auction which lead to such success. Two newly discovered self-portraits by Francis Bacon that had never been on public exhibition before this year sold for £30m.

Warhol’s first such work of a dollar, painted by hand in 1962, ‘One Dollar Bill (Silver Certificate)’ fetched £20.9m, exceeding its pre-sale estimate of £13-18m. A bidding frenzy powered Lucien Freud’s 2002 work ‘Four Eggs on a Plate’ to sell for £989,000, nearly ten times the pre-sale estimate of £100-£150,000. Gerhard Richter’s 1987 A B, Brick Tower sold for £14.1m.

The value of contemporary art has skyrocketed this year and according to Philip Hoffman, chief executive of the Fine Art Fund Group, “It is the most desirable market. It’s the most liquid market. It’s sexy, it’s easy to understand, you can read up on it quite fast, there’s not too much history involved.”

Source: The Guardian

Extraordinary Pools: A Feature of Listings From Gibson Sotheby’s International Realty

Where will you be spending your holiday weekend?
Splash into the 4th of July with one of these Extraordinary Pools!

POWDER HOUSE

3 Powder House Road |Dover, Massachusetts | Gibson Sotheby’s International Realty

HOWLETT71 Howlett Street | Topsfield, Massachusetts | Gibson Sotheby’s International Realty

FOX HILL USE300 Fox Hill | Westwood, Massachusetts | Gibson Sotheby’s International Realty

GOODNOW (2)52 Goodnow Road | Sudbury, Massachusetts | Gibson Sotheby’s International Realty

LITTLE BOOT USE15 Littleboot Lane | Westwood, Massachusetts | Gibson Sotheby’s International Realty

HUNTING LANE USE THIS115 Hunting Lane | Sherborn, Massachusetts | Gibson Sotheby’s International Realty

LEBARON USE119 Grace Hill Road | Newbury, New Hampshire | Four Seasons Sotheby’s International Realty
MAIN STREET USE461 Main Street | Barnstable, Massachusetts | Sotheby’s International Realty

Do not hesitate to contact any of our agents today regarding the above properties and make one of these spectacular pools your own in time for 4th of July weekend.

Call 844.667.6663 or visit our website: Gibson Sotheby’s International Realty for more information.

International Real Estate News: 2015 Profile of Home Buying Activity Of International Clients Released

Each year, the National Association of REALTORS® (NAR) conducts a survey to measure the level of U.S. residential real estate sales to international clients. The report is on Existing Home Sales to resident and non-resident foreigners over the time period of April 2014 through March 2015. It provides information about the origin, destination and buying preferences of international clients.

The 2015 Profile of Home Buying Activity of International Clients reported that approximately 209,000 houses were estimated to have been sold to foreign buyers. Although the total number of homes sold declined, the dollar volume of residential sales to foreigners hit a new high in March 2015 of $104 billion dollars. This is a 13% increase from the $92 billion level during the previous time period.

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The average price of a property purchased by international clients in the 12-month period was $499,600. This average is higher than the average price of $244,600 for all existing homes purchased in the U.S during that same period. The report stated that on the average, non-resident international clients paid $548,100 compared to the average purchase price of resident international clients of $450,000.

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As a result of the weakening of many currencies against the dollar and decreases in economic growth in Latin America and Europe the international buyer market was reported to be weak during this time period ending in March 2015 compared to previous years.

The bulk of purchases by international clients were predominantly cash-buyers. Of the total transactions, 55% were all-cash sales. Mortgage financing tends to be a major problem for non-resident international clients due to a lack of a U.S based credit history, lack of a Social Security number, difficulties in documenting mortgage requirements and financial profiles that are different in some cases from those normally received by the financial institution from domestic residents.

Five countries accounted for 51% of purchases by foreigners. These five include Canada, China, Mexico, India and the United Kingdom. Out of these five, China is the largest country of origin of international buyers exceeding all other buyers for the first time in terms of unit purchases and dollar volume. It was reported that approximately 28% of total international sales by dollar volume were in fact from China with an outstanding $28.6 billion worth of property.

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One respondent commented, “There was a big increase in cash buyers from China in million plus price range- both for personal residence and investment.”

Many Chinese buyers are strongly focused on purchasing in the west coast but in a recent survey done by Gibson Sotheby’s International Realty, a Boston based firm, more than 1/3 of their 2014 transactions with international buyers were from China proving this to be a preferred location for Chinese buyers.

The bulk of these international sales were reported to be for single-family homes intended to be used for residential purposes while others were for business, education, vacation and investment purposes.

The full 2015 Profile of Home Buying Activity of International Clients for the twelve month period ending March 2015 can be viewed here.

About the NAR Research Division:
The Mission of the National Association of Realtors® Research Division is to collect and disseminate timely, accurate and comprehensive real estate data and to conduct economic analysis in order to inform and engage members, consumers, policymakers and the media in a professional and accessible manner. For more information visit www.REALTOR.org/research

*The sample of 200,000 potential respondents was random but also included approximately 5,000 REALTORS® who responded to the 2013 and 2014 surveys and provided email addresses.
*The actual number of respondents to each question varied due to non-response or because of inapplicability of some questions relative to the respondent.

International Real Estate News: Global Demand For Luxury Homes Strong in the EMEA Region As Ultra Wealthy Buyers Look To Diversify Holdings

wealth xNew ultra wealthy individuals are buying up luxury homes around the world to further diversify their holdings, according to a new report by Wealth-X and the Sotheby’s International Realty® brand.

The joint report, Europe, Middle East and Africa Luxury Residential Real Estate Report For 2015, provides insight into the EMEA region’s luxury residential real estate market and identifies purchasing and investment opportunities for ultra high net worth (UHNW) individuals looking to diversify their holdings.
The report shows that the UHNW Residential Real Estate index tracked by Wealth-X hit a new record high of 112.1 in the first quarter of 2015, up nearly 4 percent from the fourth quarter of 2014, and 7 percent from the first quarter of 2014. This highlights the strength of the global luxury real estate sector on the back of demand by ultra high net worth (UHNW) individuals.

The index takes into account the full range of luxury residential properties that are owned by the world’s wealthiest individuals. Wealth-X data shows there are 211,275 UHNW individuals globally, who collectively own nearly US$3 trillion of real estate, equal to 10 percent of their net worth.

Below are other key findings from the report:
• The EMEA region offers purchasing and investment opportunities, particularly in Madrid, Dubai and Cape Town (three EMEA cities featured in the report), where luxury properties and strong lifestyle considerations may appeal to UHNW buyers.
• London remains the top real estate hub for the EMEA region. The city’s price per square foot (US$3,103) is nearly four times that of Dubai, six and nine times more than Madrid and Cape Town respectively.
• One-third of all premium London properties for sale (homes valued above US$1 million) are worth more than US$10 million. By comparison, Dubai has only 8 percent of its luxury properties listed in the super prime range above US$10 million.
• The less expensive price per square foot for premium real estate in Cape Town generally leads to larger houses. A luxury property in the South African city has six bedrooms on average – higher than Madrid and Dubai, the two other cities profiled in the report.

Download the full report here.

“This research offers an inside look into the global luxury real estate market,” said Gibson Sotheby’s International Realty Relocation Director, Nicole Rideout. “At Gibson Sotheby’s International Realty we are fully immersed in the trends of Boston, Cambridge and the surrounding suburbs. This data expands that knowledge by providing insight on many far-reaching markets, allowing us to better advise our global investors.”

Sotheby’s International Realty listings are marketed on the sothebysrealty.com global website. In addition to the referral opportunities and widened exposure generated from this source, the network’s brokers and clients benefit from an association with the Sotheby’s auction house and worldwide Sotheby’s International Realty marketing programs. Each office is independently owned and operated.

About Wealth-X:
Wealth-X is the global authority on wealth intelligence, providing sales, marketing, strategy and compliance solutions to clients in the financial services, luxury, not-for-profit and education sectors. Its award-winning research and thought leadership are regularly cited by the world’s media such as CNBC, Financial Times, Thomson Reuters and BBC. Wealth-X has more than 250 staff in 10 locations, including Singapore, London and New York.

About Sotheby’s International Realty Affiliates LLC:
The Sotheby’s International Realty network currently has approximately 17,000 sales associates located in approximately 800 offices in 61 countries and territories worldwide. Founded in 1976 to provide independent brokerages with a powerful marketing and referral program for luxury listings, the Sotheby’s International Realty network was designed to connect the finest independent real estate companies to the most prestigious clientele in the world.

Real Estate News: Summer Activity Predicted to be Strong as the Number of New Listings Increased in May

The Massachusetts Association of REALTORS® (MAR) reported that single-family home sales in May were down over 5% compared to the same time last year. However new listings added to the market were up almost 8% over last year in result of the delayed spring market. This confirms that activity will remain strong throughout the summer.

Massachusetts May Closed Sales:

Single-Family May 2015 May 2014 %Change
Sales 4,157 4,384 -5.2%
Median Price $341,000 $346,325 -1.5%
Inventory 20,622 24,964 -17.4%
New Listings 10,439 9,698 +7.6%
Condominium May 2015 May 2014 %Change
Sales 2,029 1,825 -10.1%
Median Price $315,000 $330,000 +4.8%
Inventory 5,084 6,482 -21.6%
New Listings 3,292 3,002 +9.7%%

“Low inventory has once again pushed closed home sales down in May. The good news is new listings are coming on to the market and that is a positive sign for this summer market,” said 2015 MAR President Corinne Fitzgerald.

Looking to the Boston area specifically, lack of inventory coupled with the lingering effects of winter resulted in both single family and condominium sales to a decrease significantly according to the Greater Boston Association of Realtors. “Our spring selling season began slower than normal this year, but it wasn’t for a lack of buyers. We continue to suffer from a shortage of listings, and that’s frustrating for both buyers and sellers” said GBAR President David McCarthy.

However on a month-to-month basis, home sales did improve significantly by 37% from April. Since home sales transactions take 45-60 days on average to be complete, the slip in sales was expected with the treacherous winter that plagued the Boston area. Buyers were unable to view single-family homes easily and many homeowners delayed listing. However pending home sales set a new record for a single month during May climbing 16.6%, or nearly 270 units, from the same month last year to 1,885 homes placed under contract.

Demand for condominiums remain strong as the month-to-month sales improved by nearly 39% since April. Entry-level buyers, overseas investors and suburban empty-nesters looking to downsize continue to fuel this demand. The average market time for condominiums to sell decreased on an annual basis for the fourth time in the last five months in May. The typical condo sold in May was listed for 46 days before an offer was accepted, which is the lowest average days on market until sale this year and almost two weeks from one month earlier when the average was 59 days.

“There’s a huge appetite to own real estate in Greater Boston right now,” observed McCarthy, noting that today’s low mortgage rates, along with steady job growth and favorable demographics in metropolitan Boston are fueling buyer demand.

About the Massachusetts Association of REALTORS®:
Organized in 1924, the Massachusetts Association of REALTORS® is a professional trade organization with more than 21,000+ members.  The term REALTOR® is registered as the exclusive designation of members of the National Association of REALTORS® who subscribe to a strict code of ethics and enjoy continuing education programs.

Boston Real Estate News: After Ten Years of Delays, the East Boston Waterfront is Set to See Transformation

After many did not believe that a project on the East Boston waterfront was feasible, 112 Border Street is now set to see transformation.

Delays sparked by the Great Recession and municipal backlogs put Trinity Financials plan to development 200 condominiums on hold.

Roughly ten years later after deliberations and reconfigurations, 112 Border Street is slated to be a 200-unit apartment complex with six “live-work-sell” units for artists, a 400-foot harbor walk with kayak launch, a community gallery and an acre of open spaced according to the Boston Business Journal.

East Boston
“It’s going to be a turning point for the neighborhood. East Boston really is the last undeveloped neighborhood in Boston,” said Abby Goldenfarb, a vice president of Trinity Financial.

This development will take full advantage of the incredible views and “incredible feel neighborhood “ unlike any other as there hasn’t been a critical mass on the East Boston waterfront in the past.

Source: Boston Business Journal

Three Gibson Sotheby’s International Realty Agents Ranked within the Top 16 Brokers in Suffolk County’s Top 100 Broker Report

The first half of the year has been exceptional for us here at Gibson Sotheby’s International Realty. The most recent year to date market share of Suffolk County’s top 100 brokers report has been released proving this to be true (source MLS – 6/11/2015).

We are proud to announce that three within the top 16 brokers are our very own. Consistently ranking as top brokers here in Boston, these three dedicated agents provide the white glove service that the Sotheby’s brand is known for to all clientele.

will montero_web_cropRanked Second Overall – William Montero
With a total unit dollar volume of an outstanding $34,266,000, William Montero ranked second overall on the list of Suffolk County’s top 100 brokers. Will is one of the most respected and accomplished agents in Boston luxury real estate. With over 16 years of luxury real estate experience, Will represents buyers and sellers in Boston’s premier buildings and neighborhoods. Consistently ranking as one of Boston’s top agents by all measures, Will attributes his unmatched success to always ensuring that his clients receive the best representation and the optimal outcome in all aspects of their real estate transactions.

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Ranked Tenth Overall – Frank Celeste
Not far behind is Frank Celeste who ranked tenth overall with a total unit dollar volume of $21,315,725. Being one of Boston’s top brokers for over 20 years, Frank brings a wealth of experience to the table. A lifelong resident of Boston, Frank’s intimate knowledge of Greater Boston’s wonderful neighborhoods is a key asset to his success.

 

 

RICH-OCONNOR

 

Ranked Sixteenth Overall – Rich O’Connor
Ranked sixteenth overall is our very own Richard O’Connor with a total unit dollar volume of $15,705,500. Rich has nearly 30 years of experience in residential real estate sales, specializing in the Back Bay, Beacon Hill, South End, and Charlestown neighborhoods. From condominiums and cooperative apartments to single family townhouses, Rich enjoys working with both buyers and sellers in Boston’s finest neighborhoods.

 

As top producers not only here at Gibson Sotheby’s International Realty but in all of Suffolk County, we sincerely congratulate Will, Frank and Rich on this extraordinary achievement.

View the full Top 100 Broker Rankings here.