GSIR, Cronin Group Settle Lawsuit
One of Boston’s prominent luxury brokerages and the developer behind a new Seaport District condominium tower have buried the hatchet in a dispute over allegedly unpaid sales commissions.
One of Boston’s prominent luxury brokerages and the developer behind a new Seaport District condominium tower have buried the hatchet in a dispute over allegedly unpaid sales commissions.
A residential brokerage claims the developer of the St. Regis Residences Boston owes over $1 million in unpaid commissions from sales that it brokered before being replaced in 2022.
From the Seaport to the Back Bay, it might seem like every new condo building going up in Boston has a condo component attached to a well-known luxury brand. And new data shows it’s happening for good reasons.
Developers of luxury condominium towers in Back Bay, downtown Boston and the Seaport District are delivering nearly 600 units to a market that saw a 13 percent drop in sales volume last year.
Don’t be so happy that Boston’s biotech boom is leading to lots of big-ticket home sales. That same upward pressure on home prices could sour the region on the industry.
Boston-based Cronin Development’s 22-story luxury condo tower began vertical construction this week following over two years of foundation and prep work on the waterfront site.
The stakes are high for developers who are wrestling with how to make high-density urban living attractive to potential buyers and tenants, amid lingering questions about the length of the pandemic and its effects on the housing market.
Construction of Watertown’s newest multifamily development along the Arsenal Street corridor has completed with 75 percent of the units preleased.
The St. Regis Residences tower in Boston’s Seaport District has named a San Francisco designer for its 114 condominium units, lobby and amenity spaces.
JP Morgan and Mack Real Estate have provided a $294 million construction loan for Cronin Development’s St. Regis Residences at 150 Seaport Boulevard in Boston.
Two projects totaling $1.2 billion that will bring 831 more high-end condominiums and apartments to Boston’s Seaport District are marking construction milestones.
Another Seaport District developer is partnering with a global brand to provide hotel-style amenities to buyers.