Boston’s new progressive mayor, swept in on a wave of resentment over soaring housing costs, pushed forward a plan Friday to pay for low-cost homes by taxing high-dollar real-estate sales. Mayor Michelle Wu signed the City Council’s formal request asking state lawmakers for permission to impose a transfer tax of as much as 2% on […]
The vacancy rate in the Boston-area apartment market fell to 4.5% as of Dec. 31, according to a new Colliers report, its lowest level since the end of 2012. The report found that Boston’s apartment market rebounded sharply in the second half of last year after the pandemic-induced slowdown. Apartment rents last quarter experienced an […]
In Wilmington, a suburb about 15 miles northwest of Boston, The Procopio Cos. has been working to build the small town’s first two multifamily developments in a decade. The projects aren’t huge: they total less than 100 units in three-story buildings. But the process to get them approved was long and arduous, highlighting the difficulties […]
The company reached a sale-leaseback deal to sell Encore Boston Harbor’s land and real estate assets for $1.7B to Realty Income, Wynn announced Tuesday. The gaming giant spent $2.6B developing the casino and hotel just over the border with Boston, which opened in 2019. Under the terms of the deal, expected to close in the fourth […]
Tensions are high after Judge Bagdoian of the Boston Housing Court ruled to end the moratorium on evictions. “This court perceives great mischief in allowing a municipality or one of its agencies to exceed its power, even for compelling reasons. . . . In this court’s view, such expansion of power by a governmental agency, […]
In this video, my co-founder Hakim and I, discuss the origins of MIG, why we created it, what makes us different and the power of bringing value to the marketplace. Hakim and I believe that the key to our success as real estate brokers is our ability to be of service to those who are in […]
A state housing court judge on Monday overturned the citywide moratorium on evictions declared by then-Acting Mayor Kim Janey in Boston earlier this year. when the Janey administration announced in late August a blanket ban on imposing evictions due to the ongoing COVID19 pandemic.
“The REIT recorded 1.8M SF of leasing activity in Q4, its busiest quarter for leasing since hitting 2M SF in Q3 2019, it said in a press release. The activity included several life sciences deals, including a pair of large lab leases last quarter in the Boston and San Francisco markets. It also inked a […]
“What stood out to me the most was how listing inventory collapsed,” Douglas Elliman Northeast Region President Richard Ferrari told Bisnow. “There’s so much less product for sale than there was a year ago. That’s the amazing thing. To have inventory down 40% is something that’s once in a lifetime. This doesn’t happen, but it […]
“Boston one-bedroom and two-bedroom rents declined 0.3% in October, according to Apartment List. The slight drop-off ends a nine-month streak of rent increases, though Boston’s October rates remain 17.4% above last October’s numbers. ”
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