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Compass Acquires Bushari Real Estate and Expands Presence in Greater Boston

 

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BOSTON — Compass, the real estate technology company, has announced it has acquired Bushari Real Estate on the heels of a recent $450 million investment by the Softbank Vision Fund. With the addition of Bushari, Compass’ Greater Boston team has grown to nearly 150 agents representing $1.21 billion in annual sales volume. Compass’ regional headquarters on Newbury Street is now the number one office in Boston by sales volume.

 

Bushari, founded in 2008 by husband and wife-team Elad and Mara Bushari, has built a strong roster of agent talent. The company was built on a strong ethical foundation and a commitment to form a forward-thinking Boston real estate company with an acute focus on exceptional customer service. In 2017, Bushari was recognized as the fastest-growing private real estate firm in Massachusetts by Inc. 5000.

 

“Compass’ focus on arming their agents with world-class technology and support resonates with our commitment to help agents continually improve their business,” said Elad Bushari, co-founder of Bushari. “This is a great move for our clients who will benefit from Compass’ technology and nationwide network of buyers, sellers, and agents.”

 

“As we began to look at ways to grow our footprint in the greater Boston region, it became clear that the expertise and close community ties Bushari agents have in the market, paired with their appetite to bring best-in-class technology and support to their clients makes Bushari a great addition Compass,” said Jeffrey Heighton, General Manager of Compass Boston. “We’re thrilled to welcome Bushari to our growing Compass family in Boston and nationwide.”

 

Compass has committed to expanding to every major U.S. city and opening 70 new offices this year. In addition to Boston, Compass currently has a presence in New York City, Los Angeles, San Francisco, Washington, D.C., Chicago, Dallas, and Miami.

 

To view Boston listings, find an agent and explore neighborhoods and market insights, visit www.compass.com/boston.

 

About Compass


Compass is a real estate technology company with a powerful end-to-end platform that supports the entire buying and selling workflow. We deliver an incomparable experience to both agents and their clients all in service of the Compass mission: to help everyone find their place in the world. Founded in 2012 by Ori Allon and Robert Reffkin, Compass operates in 12 regions across the United States: New York City, Los Angeles, San Francisco, Boston, Washington, D.C., Chicago, Dallas, Miami, Orange County, The Hamptons, Santa Barbara and Montecito, and Aspen. Learn more and find your place at www.compass.com and compass.com/careers.

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With Bitcoin’s Surge, Cryptocurrency Makes Inroads into Real Estate Sector

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In September of 2017, cryptocurrencies took a major step toward legitimacy when Texas luxury real estate firm Kuper Sotheby’s International Realty announced that it had conducted the country’s first real estate transaction using Bitcoin. The cryptocurrency has already been used in retail and restaurants, and it was only a matter of time before it made its way into the home buying process. Since then, Bitcoin has been used to purchase everything from land in Lake Tahoe to condos in Manhattan and the UK. Are these sorts of transactions the future of real estate arrangements or just a passing trend?

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The Most Anticipated Boston Developments Planned for 2018

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2017 has been a banner year for Boston’s construction market. We’ve seen everything from converted gothic churches to 200-unit waterfront complexes and even Boston’s largest mixed-use project in 30 years. Could 2018’s proposed developments possibly hold a candle to those of the previous year? We’ve gathered up a wealth of under-construction developments from Bushari’s Boston Crane Watch to find out.

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How a Net Neutrality Repeal Will Affect the Real Estate Industry

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In an event that is making top headlines across news publications and social media outlets, the Federal Communications Commission has recently voted to dismantle rules regulating the businesses that connect consumers to the internet. The agency abandoned the “net neutrality” regulations that prohibited broadband providers from blocking websites or charging for higher-quality service or content. While the ruling has shaken the tech world as ISPs and high-bandwidth sites are directly affected, the tremors are certain to be felt across numerous businesses and industries. The real estate sector has generally sought to keep streaming and internet service providers choice in consumers’ court. The National Association of Realtors has frequently voiced their support of net neutrality rules – and here’s why.

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Long-Awaited Fenway Center Development to Break Ground Mid-January

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Locked in development purgatory for almost two decades, the 1.1 million-square-foot Fenway Center project is finally slated to begin construction. The announcement came this week from the Massachusetts Department of Transportation, which has closed a $21 million, 99-year lease with developers John Rosenthal and Gerding Edlen. Rosenthal and Gerding Edlen secured a building permit and closed on a $240 million construction financial package so that the first phase of the project may begin as soon as possible.

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Eye in the Sky: Millennium Seeks to Curb Seaport Traffic with Aerial Tramway

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Millennium Partners, the developer behind Boston’s soaring Millennium Tower, is currently in talks with state and local officials in what may be their most innovative project yet. The firm seeks to ease the commute throughout the burgeoning Seaport neighborhood by constructing a gondola system that would transport as many as 15,000 people a day between South Station and the Seaport District. Though it sounds like a whimsical proposal, Millennium has already expressed their willingness to contribute up to $100 million to get the project off the ground.

 

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Now Under Construction: The Archer Residences at Beacon Hill

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The Archer Residences – previously known as Archer | Donahue, will deliver 71 luxury condominiums to Boston’s historic Beacon Hill. Occupying the lot at 33-61 Temple Street, The Archer Residences is situated across from the distinguished Massachusetts State House and has been masterfully designed to reflect the charm and character of the Beacon Hill neighborhood.

This new residential project calls for the construction of luxury condos with resident amenity space and below-grade parking for 54 vehicles. The site includes two connected buildings totaling approximately 171,950 gross square-feet and an adjacent paved area. The first building, known as the Gleason L. & Hiram J. Archer Building (Archer) was once used in the past for Suffolk classroom space. the second building, known as the Frank J. Donahue Building (Donahue) was used for Suffolk classroom and administration space. While the proposal has since dropped the “Donahue” designation, both buildings will still be graciously renovated for luxury urban living.

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The Archer Residences will embody the architecture befitting the historic Beacon Hill neighborhood. A detailed facade and new projections will be added to the building to assist in complimenting its design and character. Developers JDMD Owner LLC have expressed their keenness to pay attention to the general design, arrangement, texture, material, and color of the architectural features involved and the residence’s relationship to its surrounding buildings. The Archer Residences will truly embody the modern character of the famed Beacon Hill neighborhood.

While few renderings have yet been publicly released for the residences, more will be made available – in addition to detailed floor plans – on Bushari’s Boston Real Estate Crane Watch as construction progresses. Condominium sales are anticipated to begin by late 2017/early 2018.

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Crane Watch: New Interior Photos Released for South End’s 345 Harrison

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A two-acre site in Boston’s South End neighborhood will soon be home to two sprawling new residential buildings. 345 Harrison Avenue has become one of the neighborhood’s hottest new residential developments, delivering 585 world-class apartments to the bustling neighborhood. The two 14-story buildings, totaling 535,900 square-feet will include 40,000 square-feet of ground-floor retail and an underground parking garage with 275 vehicle spaces and 325 bicycle spaces.

The new buildings will further the urban renewal process that seeks to revitalize this area of Boston, while connecting the vibrant Downtown and South End neighborhoods. The project will improve pedestrian connectivity and circulation in the neighborhood and will serve as a vital physical and economic link between Downtown and South End. The site will include a landscaped pedestrian path that leads from the project to the MBTA Silver Line on Washington Street. Its location is conveniently situated across from a Whole Foods Grocery Store and countless other South End restaurants and shopping centers. Its developers, UDR, have built over 5,000 new units in six states since 2006 for total development costs of $1.3 billion. 345 Harrison has since become one of UDR’s most significant undertakings in terms of size and capabilities.

This week, UDR has released several new renderings, exhibiting the interiors of 345 Harrison‘s apartments and luxury amenities.

Amenities at 345 Harrison include a 14th floor sky lounge with outstanding Back Bay views, an outdoor rooftop swimming pool and expansive, 4,000 square-foot fully-equipped fitness center/yoga room.

Apartments are as dynamic and innovative as its South End address, crafted with crisp custom finishes, with every detail carefully considered to create a beautiful backdrop for your life in Boston.

345 Harrison Ave is expected reach completion by early 2018. Stay updated with new renderings, floor plans and pre-sales via Bushari’s Crane Watch.

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A Look Into the Upcoming Boutique Residences of 276 Newbury Street

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This week, Bushari agents got an inside look into one of Back Bay‘s most highly-anticipated residential developments. The residences at 276 Newbury Street, developed by Boston’s Centremark LLC and designed by Cambridge architects Margolis + Fishman, will bridge two classic brownstones at 276 and 278 Newbury Street into a seamless blend of historic architecture and modern opulence.

Each of 276 Newbury‘s floor plans will emphasize exemplary entertaining and modern living with spacious, open floor plans that are complemented by herringbone pattern oak flooring. The units, which harbor three+ bedroom, 2.5+ bathroom configurations, also feature study rooms, laundry rooms, private decks, and coveted on-site parking. Its location along Back Bay‘s bustling Newbury street allows for convenient access to the boutique shops, restaurants and parks that make the neighborhood famous.

While the building will retain its historic brownstone design elements, the existing brick masonry of the façade will be cleaned and repointed as necessary. Its front yard will be excavated to a lower level in order to create retail entrances and expose previously-modified lower level entrances. A private elevator will be added, allowing for secure private access to each of the residences. The building’s interior design is curated by Ally coulter Designs, with furnishings by Fendi Casa and Luxury Living Group of New York.

276 Newbury Residence One will occupy the entire third floor of the building, spanning approximately 2,000 square-feet plus a private 500 square-foot deck. Its sprawling layout, with 3 bedrooms and 2.5 bathrooms, is ideal for entertaining; pre-wired for audio and visual entertainment. Its gleaming chef’s kitchen features custom cabinetry and polished Quartzite and Miele appliances.

Residences Two and Three will occupy the building’s fourth and fifth floors, respectively. These units deliver the ultimate Back Bay living experience, draped in heritage and a timeless appeal. The penthouse level is accessible via direct elevator access from residences Two and Three and offers an additional living area, a bath with shower, and private outdoor deck overlooking Newbury street and the Back Bay skyline. Finishes include interior and exterior gas fireplaces and a sizable wet bar. Both residences two and three harbor 3+ bedroom, 3.5+ bathroom configurations. Additionally, these three units may be combined for the ultimate Back Bay living experience.

We’d like to thank Lisa Rainis of Otis & Ahearn for the invitation to 276 Newbury’s exclusive broker’s open.

Completion of 276 Newbury is expected by December 2018. Units are now available for pre-sale. Find available units and floor plans here.

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Michael Dell Buys One Dalton Penthouse in Boston’s Most Expensive Condo Sale

 

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Michael Dell, founder and CEO of Dell Technologies, is currently in contract for one of the three penthouse residences in Back Bay’s One Dalton residential tower.

One Dalton, which is expected to wrap up construction by the final quarter of 2018, has already sold several of its luxury condos. At a height of 742 feet, One Dalton will be the third largest tower to pierce the Boston skyline; with only the Prudential and John Hancock Towers soaring above at heights of 750 feet and 790 feet, respectively.

While it is not yet known how much Dell is expected to pay for the penthouse, there is currently another for sale at $40 million. The three penthouses will occupy the 60th and 61st floors of the building. In June of 2016, investment fund manager John Grayken shattered records with the most expensive condominium sale in Boston history at $35 million in Millennium Tower. The penthouse won’t be Dell’s first big purchase in the city. He bought his 4,110 square-foot Millennium Tower penthouse for $10.9 million in the last quarter of 2016, following a $60 billion deal by Dell Technologies acquiring Hopkinton’s EMC Corp.

Dell’s penthouse will be approximately 7,300 square-feet in size across two stories, in addition to a 570 square-foot outdoor terrace. One Dalton residents will also have access to a private residents’ club on the 50th floor, a state-of-the-art spa, restaurant, golf simulator and indoor lap pool. As of November 2017, the building has reached nearly half of its full height and is expected to top off in early 2018. Keep up to date on One Dalton’s construction via Bushari’s Crane Watch.

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