22 Chestnut Place #216 in Brookline. Check out this newly listed meticulously maintained two bedroom, two bath condominium with garage parking in desirable elevator building.
Unit faces lush backyard view and mature trees allowing for privacy. Spacious, open living room – dining room, white kitchen with updated appliances, and newly finished hardwood parquet floors. Large master bedroom features a walk-in closet, en-suite full bath.
Freshly painted and ready to be enjoyed by new homeowner.
Excellent in-unit storage including a walk-in coat closet, and hallway lined with closets. Extra storage in basement. Laundry across the hall from the unit, one garage parking space included.
Sargent estates features concierge, outdoor pool, beautiful grounds. High owner occupancy and reserves.
Nestled in serene Brookline neighborhood yet less than half a mile to D line station and Brookline Reservoir.
The market is hot right now in Boston, Brookline and Brighton. Will it stay that way? I’ve been helping clients make great real estate decisions for over 15 years. Here’s my thoughts on the Boston real estate market right now:
Hi, everybody. It’s Ruth. I want to give a quick market update. It is the end of July 2018, and we have had really a very robust and unusually busy market this summer. July is quiet, and August, are usually quite slow in Boston in real estate. So what is attributing to this market? I think I’ve spoken to this, about this before.
Some people are saying, “Well, the weather was really terrible through mid-April; therefore, buyers were not out, and sellers were not coming on the market until late April, early May.” More likely culprit was all the market jitters we had in the beginning of the year, plus the interest rate hikes that started, and are going to continue through the rest of the year. Everybody kind of took a pause to see what’s going on with their finances.
We’re also seeing this trend throughout the country. I’ve spoken to agents all around the country, where they do have a seasonal market, like we do here in Boston. And they are saying July is unusually busy after a very slow first quarter 2018. National statistics are out. May home sales have declined nationwide. We are looking at an inventory shortage, a story throughout this country. The people who are suffering the most are the first time home buyers, the young families, the entry-level buyers. For us here in Boston metro, we’re looking in the smaller condo, the two-bedroom condo market, and this is a problem nationwide with smaller homes.
I did some research for a client of mine and we looked at the numbers. In the past four years, four years, the average prices of condominiums in Brighton have gone up 55%, 55%. The past four years, the average price of condominium Brookline have gone up 40%. Wow, what an investment in the past few years to own a condominium in Brookline, Brighton, and really, in most of greater Boston.
But if the average price has gone up by 55%, does that mean your condo is worth 55% more? Well, not necessarily and probably not. That average price is really being pulled up by a lot of the, kind of the luxury, and the new construction, and the larger units being built this past couple of years in Brighton, and now are being sold. They are pulling this number up. Your home is not necessarily worth 55% more than it was just four years ago. But it is worth a lot more. It has been a very dynamic and generous market to home sellers in almost all of Boston’s neighborhoods, Brookline, as well as Newton.
If you have any questions about the real estate market, don’t hesitate to contact me. Text, write me, call me. I love hearing from you. Have a fantastic rest of the summer.
Another analysis will be for the condo market in your neighborhood. For each unit in the building you will need a separate analysis, unless they are identical.
Once you know the value of the homes, you will be able to figure out how much you are willing to spend on a condo conversion.
2. What are the costs associated with the condo conversion?
There are several steps to the process, and each will cost money. There are two substantial expenses in a condo conversion.
– Legal expenses.
You will need to hire a real estate attorney who will write and file the documents, and advise you on the legal process. This may cost $12,000-$15,000.
– Rehab expenses.
This will be the bulk of your expenditure. In order to sell a two family home as two condos, the City will need to inspect the home and ensure it is up-to-code.
If your house is built in the late nineteenth century or early-to-mid twentieth century, like the overwhelming majority of the multi-family homes in Brookline, it is likely there is considerable work to do to get the house up to current standards.
I am not talking about the cosmetic changes. These are electrical, plumbing, building and safety upgrades, and getting the property up to current codes required in order to obtain a certificate of occupancy necessary to close.
I cannot estimate this cost. If you’ve maintained and updated the house meticulously over the years, it may be $10,000 of various upgrades. If your house is needs a lot of work, it can cost $300,000. There is no way to estimate this without a licensed contractor.
– Expense of selling the home.
Other than the commission, which will be a percentage of the sales, you may also have to supply an engineer’s report for the condo conversion. This will likely be less than $1,000.
3. Do I have the time, energy, and financial resources (cash) to do the necessary work?
This question is self explanatory. You need to want to do the work involved in a conversion and have the money to pay for it.
http://www.ruthmalkinlerner.com/wp-content/uploads/2014/03/Fotolia_6190994_XS.jpg283424Ruth Malkinhttp://www.ruthmalkinlerner.com/wp-content/uploads/2017/04/RuthMalkin-NoTagLine-sm.jpgRuth Malkin2018-03-05 17:28:402018-03-05 16:59:52Should I Do a Condo Conversion for My Multi-Family House in Brookline?
Prime Coolidge Corner location, one of the neighborhood’s most desirable buildings. Open and spacious luxury corner condominium on third floor.
Granite kitchen with island / bar is open to dining and living room with corner fireplace. Two columns, built-in shelving and high ceilings make for a contemporary and sophisticated style.
Master suit features a walk-in closet, double vanity, shower and separate tub. Second bedroom also features en-suite, walk-in closet.
In-unit laundry, two garage parking and proximity to elevator add to the ease and comfort.
1,081 Square Feet
2 Garage Parking Spots
Schedule your private showing or request the open house schedule. Give us a call at 617.291.0323 or sending an email to Showing@MalkinREGroup.com.
Search Other Properties in Brookline
http://www.ruthmalkinlerner.com/wp-content/uploads/2017/12/001-Front_View-5117266-small4x3.jpg553736Ruth Malkinhttp://www.ruthmalkinlerner.com/wp-content/uploads/2017/04/RuthMalkin-NoTagLine-sm.jpgRuth Malkin2017-12-07 15:18:302017-12-07 15:18:30150 Saint Paul #306, Brookline, MA 02446
Open, sun-filled two bedroom condominium at Sargent Estates. This home has been thoughtfully remodeled with a brand new granite/stainless steel kitchen and modern luxury bathrooms. Expansive dining and living room with large windows overlooking green private space. You will find spacious bedrooms and excellent closet space. Two parking spaces and extra storage included. Elevator building with outdoor pool set in quiet lovely surroundings. Walk to Brookline Reservoir, Brookline Village, D line.
Square Feet: 1,102
Parking: 2 Outdoor
Schedule your private showing by filling out the form below, giving us a call at 617.291.0323 or sending an email to Showing@MalkinREGroup.com.
http://www.ruthmalkinlerner.com/wp-content/uploads/2017/10/011-Kitchen-4840926-large.jpg6671000Ruth Malkinhttp://www.ruthmalkinlerner.com/wp-content/uploads/2017/04/RuthMalkin-NoTagLine-sm.jpgRuth Malkin2017-10-01 11:05:032017-10-01 11:05:0322 Chestnut Place #314, Brookline
This stunning penthouse condominium is not only an architectural wonder, it has an amazing panoramic view from its private rooftop deck:
Luxury Penthouse Condominium in Longwood Mall area. Spacious, sun-drenched home, all rooms graced with architectural detail. Modern kitchen with new high-end Bosch kitchen appliances, private roof deck, parking. Walk to Coolidge Corner, C, D lines.
An architectural wonder at the beautiful Longwood Mall area. Luxury condominium in 1885 historic mansion’s sun-drenched penthouse with private roof deck. Dramatic glass-encased grand staircase entrance welcomes you.
Inside find a spacious layout, all rooms graced with beautiful architectural detail. Three original fireplaces – one cherry wood enclosure, two with original marble mantles; Five large skylights, unusual juxtaposition of arches, distinctive wainscoting, extensive built-in bookcases, and original stain glass window.
Large, sunny modern kitchen, new high-end Bosch kitchen appliances, excellent storage and pantry spaces; cherry wood eating counter, and computer desk area.
Especially large bedrooms. Master bedroom suite has sitting area, large adjoining dressing room/ walk-in closet, bathroom with double sinks, large whirlpool tub, in-shower sauna;
Exclusive use of a large roof deck with an unobstructed panoramic view of magnificent trees and the mansion’s forest which allows for both complete privacy and vast openness, perfect for gardening and entertaining.
The top level unit is uniquely immune to noise. Updated heating and air conditioning; new hot water tank and in-unit laundry. One car garage and one exterior parking space parking; Shed for bike storage.
Minutes to Coolidge Corner and Kenmore Square, steps to MBTA C & D-Lines. Short walk to Longwood medical area, Emerald Necklace Riverway and bike path.
Want a 3-D view?
Total Rooms: 6
Square Feet: 2775
Year Built: 1885
Parking Spaces: 2, one garage, one outdoor
Outdoor Space: private roof deck
Heating /Cooling: Forced hot air
Washer/Dryer in unit
Condo Fee: $1,183
Price: $1,999,999 Buyer has PRICED TO MOVE at $1,799,999
I would love to show you this condo. Schedule your private showing by giving me a call at 617.291.0323 or sending an email at email@example.com
http://www.ruthmalkinlerner.com/wp-content/uploads/2017/09/15.jpg553828Ruth Malkinhttp://www.ruthmalkinlerner.com/wp-content/uploads/2017/04/RuthMalkin-NoTagLine-sm.jpgRuth Malkin2017-09-08 15:58:032018-05-13 15:40:52Penthouse Luxury Condominium: 300 Kent Street #5, Brookline
Convenient and comfortable home for City living in Coolidge Corner. Spacious and cheerful condominium with parking in a highly desirable building. Features include hardwood parquet floors and great closet space, living room with sliders to private porch with beautiful City view. Ready for an update with your personal customization and taste. Steps to Beacon Street and Coolidge Corner, 19 Winchester Street is a meticulously maintained modern elevator building with a pool, laundry on-site, and beautiful lobby. Ideal for investor or owner occupant.