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East Boston MA Apartments
A Brief Background Of East Boston
According to Wiki Voyage, East Boston is a diverse neighborhood. Fondly called “Eastie”, it has been a welcoming place for immigrants for many years. East Boston was created from an infill project on lands that originally consisted of five islands. It is still an island but there are a series of bridges and tunnels that make commuting quick and easy.
Some of the best views of the downtown skyline are found in East Boston. Many developers are taking full advantage of the amazing views by building major luxury projects along the East Boston waterfront. The projects consist of luxury condos, shopping malls and restaurants. The good thing is prices are still relatively low making East Boston MA apartments ideal for everyone who cannot afford to live in expensive places.
The Real Estate Renaissance in East Boston
According to Boston Magazine, East Boston is witnessing a new growth in the real estate sector. Young professionals, students and large diverse groups are flocking into the neighborhood due to its relatively fair prices and proximity downtown. Developers and investors have taken advantage of the area’s potential by buying, renovating and building new properties within short timeframes.
As good as this sounds, the rapid pace of construction of new properties has led to minor displacement in a few parts of East Boston. A few residents harbor views have been blocked by luxury apartments and condo buildings. This affects mainly residents of the Jeffries Point. There are also a few possible challenges of living in East Boston. Traffic in East Boston can be troubling, coupled with the airplane noise from Logan. However, this area continues to become one of the fastest growing and highly sought-after areas in Greater Boston.
Real estate agents expect that East Boston MA apartments will continue their upward trend in price as it is still more affordable than many other parts of Greater Boston.
There is a lot to enjoy from living in East Boston. The neighborhood has many beautiful green spaces such as Piers Park. The view is simply amazing. There is also wildlife at Belle Isle Marsh. The Belle Marsh reservation spans 152 acres and it is Boston’s last remaining salt marsh.
While hardly anyone can say a neighborhood is perfect; East Boston has a lot of raving fans. People that move to “Eastie” generally love East Boston. There is a strong sense of community.
Getting Around in East Boston
There are a number of transit options in East Boston. The Blue Line is one of the most popular and reliable lines and has stops at the airport, Wood Island, Suffolk Downs and Maverick. The Silver Line 3 bus links the South station to East Boston and Chelsea.
Apart from these two lines, there are other bus lines that connect the neighborhood to different points in the city. Ferry lines and water taxis also move in and out of the neighborhood. It is a perfect home base for frequent travelers as it is just a few minutes from the Boston Logan International Airport. The East Boston Greenway connects different neighborhood parks and open spaces as well as the airport.
More information can be found at https://en.m.wikipedia.org/wiki/East_Boston.
Eastie is home to many historical landmarks from the Temple Ohabei Shalom Cemetery to the Madonna Queen of the Universe Shrine in Orient Heights. The new ICA Watershed and the neighborhood branch of Boston Public Library are also located in East Boston.
Eastie has some of the best South and Central American restaurants in the city with reasonably priced cuisine. Therefore, you will enjoy living in East Boston MA apartments just for the food!
The Current Real Estate Market
As mentioned earlier, East Boston’s real estate market is experiencing exponential growth and there is stiff competition for properties in the neighborhood. The area has witnessed new developments in recent years with many residential and commercial projects still underway. It is a choice location for a dynamic and diverse group of people who want to live in the city but avoid the high costs of South Boston, Charlestown, South End, or Back Bay.
On average, the price of East Boston MA Real Estate is around $529,000, with homes closing at $54,000 over asking price.
Demographics and Lifestyle in East Boston
The neighborhood is home to one of the best pizza places in the US, Santarpio’s Pizza. The area has all necessities that anyone would want so you don’t need to travel far to buy what you need.
There are two main commercial districts, the Maverick Square and Central Square. There are many local and international grocery stores in this area.
The area is densely populated but there are still many parks like LoPresti Park, Piers Park and other open spaces where residents can enjoy the fresh air. You can go for a workout at the LoPresti Park or take your kids to the playground and spay fountain at Piers Park on the waterfront. People living in East Boston MA apartments can also enjoy outdoor concerts at Piers Park.
Price of Apartments In East Boston
Eastie’s housing market is very competitive. East Boston MA apartments receive an average of 2 offers and sell in around 3 weeks.
The average sale price of a home is about $600,000 and the average sale price per square foot is $500.
Affordable East Boston MA Apartments
East Boston is now attracting higher-income buyers. Things are changing rapidly, but there are still a few bargains to be found. According to Niche.com you are sure to find a home you love in Eastie.
In 2017, Madeline Bilis reviewed data from real estate analytics firm NeighborhoodX to find the ten most affordable East Boston MA apartments available for purchase. The firm identified listings asking between $199,000 and $390,000. The sizes of the majority of the homes are small, ranging from 550 to 900 square feet and prices from $350 to $568 per square foot.
A one-bedroom unit in Orient Heights that was recently renovated and sold for $199,500 was the cheapest home for sale in East Boston at that time.
There were few other units in Eagle Hill and Jeffries Point on the list and many of the homes were close to the Blue Line. A new condo conversion on Boardman Street with an updated kitchen and bathroom was the most expensive home on the list selling at $390,000.
In January 2019, a condo at 83 Homer Street was selling at the price of $369,000. This is an affordable price compared to what is obtainable right now. The condo is a 1,022-square foot property and has three bedrooms and one bathroom. The location is highly accessible to public transport and it’s a 12-minute walk from Constitution Beach.
The current prices of East Boston MA apartments for rent and for sale are stated below.
- Average listing price: $555,000
- Average rent price: $2,420 per month
- Average home value: $462,500
New East Boston MA Apartments
As per the information from Boston University, East Boston was formerly a working-class neighborhood with a large number of first-generation immigrants who had lived there for many years. Eastie was the neighborhood with the most affordable real estate in Boston. Due to the drop in the supply of homes for sale in downtown Boston and little flow of new inventory, buyers began to look towards areas outside of downtown like East Boston that still had affordable homes.
Both residential and commercial developers took advantage of this trend and so Eastie is being transformed into a new neighborhood. The neighborhood’s appeal and its average home value are on an upward trajectory with the increasing number of new residential projects and an influx of new restaurants and stores.
We will look at new construction projects that are set to change things in East Boston’s real estate market.
1. Clippership Wharf
This is a mixed-use building project on 12 acres of Eastie’s waterfront. The project was executed in phases. It began with the erection of the first three buildings – two with 284 apartments and the third has 80 condominiums. The second phase includes the construction of a fourth building consisting of 114 apartments. Below are the specific details.
There are 487 residences with about 30,000 square feet of retaining and community space. It has about Four acres of waterfront open space and a new Haborwalk. There are about 320 vehicle parking spaces and 300 of them are in an underground parking garage.
The third building includes one and two-bedrooms with high-quality finishes and a great waterfront view. The amenities include a fitness and social club and bike storage.
Apartments at Clippership Wharf are dubbed Doc and leasing began in 2018. The building is located very close to Maverick Square and Blue Line Station. Residents only have a 3-minute train ride to Downtown Boston.
2. Coppersmith Village
This is a mixed-use property located along Border and Liverpool Streets. It offers both rental and ownership condominiums. The specifics are listed below.
There are 71 residential units and about 3,000 square feet of ground floor. The property has two multifamily buildings which have 56 one, two and three-bedroom rentals as well as ground floor retail.
One building includes 15 condominiums for sale. There are about 37 parking spaces under the two buildings and they are connected by a ground-floor lobby. Each condo has a one-car garage.
3. Portside at East Pier Phase 2
This is located on about two acres of Eastie’s waterfront and offers amazing views of the cityscape. The project was divided into two phases. The first phase was completed in November 2014 and the second was completed in September of 2018. The building includes over 290 residential units across two new 5-story buildings. It has about 43 units are designated affordable and 8 are extended-stay units. The remaining units are sold at market rates. The structure has an indoor pool. It also has an underground parking garage that can accommodate 250 vehicles.
4. Residential Building at 245 Summer Street
This luxury building is located in the waterfront neighborhood of Jefferies Point. Unlike Downtown Boston, there are few options for luxury rentals in East Boston. The residence at 245 Summer Street provides an opportunity for people looking for luxury rentals in Boston at an affordable rate. Below are the details of this development.
The building spans about 2,260 square feet of ground floor and has 34 luxury units with 2 and 3-bedrooms having open floor plans and natural lighting. The ceilings are 9 foot. The units have bamboo hardwood floors, LED lightings and stainless-steel appliances.
Rent starts at $2400 per month for the 2-bedroom/2 bathroom and $3100 for a 3-bedroom/2 bathroom apartment. There are 34 parking spaces in an underground garage along with bicycle storage.
5. 320 Maverick Street
This is located very close to the Blue Line in Maverick Square and Piers Park. A short walk from the waterfront, 320 Maverick Street features residential condominiums that were completed in 2018. These are the building’ features. There are 33 residential condominiums and 4 are designated affordable. There is an onsite garage that can accommodate 32 vehicles.
6. The Faretra
This is a great option for people looking to buy luxury condos in East Boston. It is located close to the Boston Harbor and the Blue Line and it’s the newest boutique residential development in town. The building has 9 condominiums and all have 2 bedrooms and 2 bathrooms. The finishes are solid oak hardwood flooring, custom kitchens, white marble back splash, LED lighting and top-of-the-line appliances. There are private balconies in some residences. Private roof decks with Downtown Boston skyline views are found in the penthouse residences. There is an onsite garage for vehicle parking.
7. 70 Bremen Street
This is another mixed-use building. It seems a large percentage of new construction projects in Boston are these types of buildings. The reason may not be far from the fact that residents are attracted to buildings with retail spaces because they offer conveniences that strictly residential buildings don’t usually have.
Here are the details of this mixed-use building located just a little distance from Eastie’s waterfront. It has 32 residence with about 1,030 square feet of ground-floor retail space. There are 4 studios, 16 one-bedroom a and 12 two-bedrooms. It has a garage that can accommodate 30 vehicles. It is very close to the MBTA Blue Line, East Boston Greenway and Maverick Square.
8. The Eddy
Eddy is a great choice for people who want to try an apartment before buying. It is located on the waterfront overlooking the skyline. It is packed full of amenities that are hard to find in many other rental buildings. The features include 257 studio, one and two-bedroom residences. It has cool amenities such as a top-floor roof deck with stunning views, a fitness center, parking garage, conference rooms and music practice rooms. The monthly rents range from $1,800 for studios to $3,200 for two-bedrooms. There is a waterfront restaurant located on the building’s ground floor. It has three-quarters of an acre of outdoor public open space.
9. Boston East
This is another great rental option among East Boston MA apartments. According to boston.curbed.com it consists of 200 residential apartments and public waterfront amenities and 26 apartments are designated affordable.
The amenities include art galleries, harbor walk, and a boat launch. It has 6 artist live-work units. There are docks and a large indoor-outdoor rooftop as part of the amenities. It also features underground parking that can accommodate 120 vehicles. Boston East has a luxurious pet spa where you can take your pet on a stroll along the Harbor. Rent starts at $2,000.
10. Seville Boston Harbor
This is best for people looking for luxury, waterfront condos in Eastie with high-end finishes, amazing views and local conveniences. This is the best time to own one of these affordable condos with such proximity to downtown. Prices will likely go up as Eastie continues to flourish and new buildings come up. So this is a timely investment for buyers. Let’s take a look at the details of this building.
There are 66 luxury condos. The ground floor retail space provides amazing views of the Boston skyline. It has one and two-bedroom units. The building has an expansive roof deck, garage and a fitness center. Residents can easily access the Blue Line rapid transit.
11. 301 Border Street
This is a 6-story, 64-unit condo complex. The project was approved in the last month of 2016 and construction is underway. It will have a ground floor retail space and 42 parking spaces. The complex will include about 75 bike spaces and a gallery displaying Eastie’s shipbuilding history.
12. 99 Sumner Street
This projectwas approved by the Boston Planning and Development Agency in 2017. East Boston’s old Hodge Boiler Works will be converted into 199-condo complex. The building will include 7,200 square feet of ground floor space facing the waterfront and with public access. It will also feature a 5050-square foot elevated courtyard exclusively for residents.
Seven of the condos will be designated affordable and there will be 119 interior bike storage space and 28 exteriors spaces for public use. There will be 83 underground parking spaces for residents. The project also includes a new 240-foot long section of Boston’s Harborwalk that will extend from the Carlton Wharf to LoPresti Park.
13. 114 Orleans Street
This 5-story building consisting of 23-unit condos was approved in late July 2017. Three of the units will be designated as affordable and there will be 25 interior parking spaces.
14. 205 Maverick Street
According to Boston Real Estate Times, this addition to the list of East Boston MA apartments was approved in November 2018. The project will feature 49 new residential units, and it will be built without displacing residents in the area. It will also have a ground floor retail and market space. It will have 34 vehicle parking spaces and bike storage room. It is located with 5 minutes of MBTA Maverick Station. The development’s interior will create about 60,070 square feet of living and commercial space.
The single-story commercial structure that currently occupies the site will be demolished to give room for the construction of the 5-story mixed-use building. The 49 residential units will consist of twelve studio units, 20 two-bedroom units and 17 one-bedroom units. There will also be two commercial retail spaces, over 40 on-site bicycle storage spaces and over 30 off-street parking spaces.
15. 211 Condor Street
This was approved in 2017 and it will be located in Eagle Hill neighborhood of East Boston. It will feature 21 new home ownership units, and 3 of the units will be designated as affordable. The building will have a gross floor area of approximately 13,960 square feet. There will be two 4-story residential buildings which will include 21 residential units including 3 IDP units. It will have sidewalks and storage space for ten bikes.
16. Grace Apartments
This project will be located on 187 Summer Street, adjacent to Maverick Square. It will involve the reception of a 42-unit seven-story building and renovation of 17 existing residential units for seniors. The building will span 38,250 square feet.
The building will serve low-income seniors in East Boston. The first floor will have a community kitchen, lobby, office, mail room and mechanical space. This East Boston MA apartment will have five parking spaces and one will be handicapped accessible.
It is not surprising that East Boston is one of the fastest growing areas in the city of Boston. Eastie provides amazing Harbor and city views, great proximity to downtown, a great atmosphere and relatively lower prices than other neighborhoods in Boston.
East Boston MA apartments are in a price range you wouldn’t expect to see in Boston. That is why this area remains the focus for many savvy buyers and renters. You will surely maximize the return on your investment if you tap into the opportunities in East Boston’s rental market.
East Boston Real-Time Vacancy Rate
East Boston Real-Time Availability Rate