Luxury Homes

Luxury in the City: What about $3 million gets you in and around Boston

It doesn’t include a downtown penthouse in a new, full-service building, but you can snag a single family with a mudroom near Davis Square.

Unit 8A at 42 Chauncy St. in Downtown Crossing is actually two combined units.

By Marni Elyse Katz - Globe Correspondent

January 18, 2023

Those climbing interest rates? Not an issue for buyers of $3 million dollar-plus properties. “In this price range, it is rare that a mortgage is involved,” said Will Montero of Gibson Sotheby’s International Realty. Those offers are typically all cash. That’s nothing new. “The luxury market has not changed very much in the past few years,” Montero said.

Steven Cohen of Keller Williams Realty emphasized that while the volume of luxury properties trading may dip a bit in challenging times, prices remain relatively stable. “Buyers looking at the drop in their equity portfolios might think properties should be cheaper, but they have ultimately come back to the market and transacted at not particularly lower prices,” Cohen said.

This is especially true of properties boasting an extremely desirable mix of amenities and location.

“[Those properties] continue to trade like it’s 2019,” Cohen said.

What will $3 to $4 million dollars buy you right now? Not a high-floor unit in a top-tier, full service building.

“You will need to pay between $5 million and $15 million for a home that meets that criteria,” Montero said.

“You should consider it a win if you get eight and a half of the 10 things that you want, assuming it’s the right eight and a half,” he added. “You just need to solve for your own housing equation.

$3,499,000

42 Chauncy St., Unit 8A

Downtown Crossing

Year built 1899; converted 2001

Square footage 3,896

Bedrooms 2

Baths 2 full, 2 half

Taxes $22,004 (2022)

Fee $1,904

Last sold for Popular real estate sites say it last sold for $875,000 in 2004; however, the home is actually two units combined, so the $875,000 was for only one. The second was purchased years later in a private sale, and then the owner bought the common area space between the two units on the eighth floor from the homeowners association so he could create direct elevator access.

For those looking to roller skate through the living room or hang a disco ball next to a built-in mirrored bar, this expansive downtown loft with nearly 15-foot ceilings and polished concrete floors is for you. A kitchen with custom zebrawood cabinetry and separate pantry make entertaining easy, as do direct elevator access and three rental parking spaces. When you’re ready to retreat, head up to the lofted lounge or one of two bedroom suites in back.

Listing agent Neda Vander Stoep, Coldwell Banker Realty – Back Bay, 399 Boylston St., Boston, 617-413-0888, nedavanderstoep.com

***

$3,000,000

60 Chandler St., Unit 2

South End

Year built 1890; converted 1994

Square footage 2,245

Bedrooms 4

Baths 2 full, 1 half

Taxes $28,140 (2022)

Fee $420

Last sold for $1,617,500 in 2013

This penthouse triplex in a classic Victorian rowhouse located in the South End’s coveted Golden Triangle microneighborhood holds industrial-style surprises: brick walls, high ceilings with exposed beams, character-filled wood floors, and an open steel stair to a roof deck with iconic Back Bay views. The four-bedroom home also features a dining banquette built into a bay window, a kitchen with high-end appliances, and extensive custom cabinetry for storage of all kinds.

Listing agent Penney + Gould Team, Compass Real Estate, 126 Newbury St., Boston, 781-389-8224, compass.com

***

$2,990,000

300 Pier 4 Boulevard, Unit 6E

Seaport District

Year built 2019

Square footage 1,406

Bedrooms 2

Baths 2 full

Taxes $27,655 (2022)

Fee $2,387

Last sold for $2,612,037 in 2019

Italian walnut floors and custom wood cabinetry ground this bright and airy sixth-floor unit at Pier 4, a boutique midrise situated beside the Institute of Contemporary Art along the Seaport’s Harborwalk. Laid out for privacy, the bedrooms and marble baths flank the central living space, which boasts a balcony with glass panels that juts over Boston Harbor. The sale includes two parking spaces in the underground garage, while building perks include a common terrace with a grill and fire pit.

Listing agent Michelle Otey, Luxury Residential Group, 355 Boylston St., Boston, 617-262-2500, compass.com

***

$2,699,000

18 Summit St.

Somerville

Year built 1900

Square footage 3,000

Bedrooms 4

Baths 3 full, 1 half

Taxes $13,523 (2021)

Last sold for $670,000 in 2005

The gut renovation of this 12-room modern Victorian on a corner lot between Powderhouse Park and Davis Square is nearly complete. A kitchen island that seats six, a quartz-encased gas fireplace, and a modern stair are among the highlights of the open living space. The third-floor primary bedroom has a vaulted ceiling, two walk-in closets, and a bath with a soaking tub tucked into a dormer window. Finally, the two-car garage and proper mudroom are standouts for city living.

Listing agent Christopher Sanner, EVO Real Estate Group, 190 Old Colony Ave., Boston, 216-394-9821, evoboston.com

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