Page 22 - New England Condominium November 2019

22 NEW ENGLAND CONDOMINIUM -NOVEMBER 2019 NEWENGLANDCONDO.COM Located Throughout New England Servicing the Northeast, Free Estimates Fully Insured, Certified by NADCA 1-800-442-8368 customerservice@ductandvent.com www.ductandvent.com Duct & Vent Cleaning of America, Inc. CONDOMINIUM MARKETPLACE “ e Directory to Everything You Need” MARCUS ERRICO EMMER & BROOKS, P.C. Representing Over 4,000 Condominium Associations... One Association at a Time 45 Braintree Hill Park, Suite 107 Braintree, MA 02184 (781) 843-5000/Braintree (508) 791-2120/Worcester (401) 351-2221/Rhode Island www.meeb.com | law@meeb.com MEEB_NEC_June14.qxp:Layout 1 5/19/14 12 ACCOUNTANTS Goodman, Shapiro & Lombardi, LLC Concentrating in condominium and real estate law in MA & RI www.goshlaw.com (877)-241-1600 NECondoClassifiedAd7-7-17woNH.indd 1 7/7/2017 1:09:16 PM Flynn Law Group 185 Devonshire St., Suite 401 • Boston, MA 02110 617-988-0633 “Quality Representation at Reasonable Rates - $150/Hr.” Contact Attorney Frank Flynn Frank@fl ynnlaw-ne.com www.fl ynnlaw-ne.com ATTORNEYS Merrill & McGeary 100 State Street, Suite 200 Boston, MA 02109 617-523-1760 • Fax 617-523-4893 Contact: Mike Merrill, Esq. mmerrill@merrillmcgeary.com DUCT/DRYER VENT CLEANING INDOOR AIR QUALITY • VENTILATION • DUCT CLEANING AIR DUCT & DRYER VENT CLEANING 800-893-1117 www.continentalcleanair.com Property Managers • Multi Units • Associations • Condos Continental clean:Layout 1 12/22/09 David A. Levy, CPA, P.C. Certified Public Accountants 20 Freeman Place Needham, MA 02492 Tel: (617) 566-3645 (866) 842-0108 Fax: (866) 681-2377 www.DALCPAPC.net DAL CPA See Our Display Ad on Page 20 BetterVent is a NEW kind of Indoor Dryer Vent. www.adr-products.com 1-888-609-5512 Condominium and Real Estate Law Phone: (781) 817-4900 Direct: (781) 817-4603 Fax: (781) 817-4910 We may be dressed up, but we aren’t afraid to get our hands dirty. www.lawmtm.com See Our Display Ad on Page 21 Solving your problems today & strengthening your association for tomorrow. 6 Lyberty Way, Suite 201 Westford, MA 01886 (978)496-2000 www.perkinslawpc.com Accounting • Auditing • Taxes • Consulting Worcester 67 Millbrook Street 508-797-5200 Grafton 80 Worcester Street 508-839-0020 Holden 795 Main Street 508-829-5544 M Love Associates, & LLC Certified Public Accountants Serving Condominium Associations mlove 2.25 x 2.5 condo association color 9.19.2017.indd 1 9/19/17 12:59 PM BANKING DeVeLoPments Interest Shift s in Aff ordable Cape Condos Two aff ordable condominiums in an eight-unit cluster of townhouses being built along the Shining Sea Bikeway in Fal- mouth, Massachusetts, were slow to draw any interest from the public this fall — but interest picked up at the last minute. Th e application period for the two af- fordable condos in Th e Village at Old Main ran from August 12 to October 11, and as the deadline neared, the Cape Cod Times reported that no applications had been submitted in a lottery for the units. However, Boston-based Maloney Properties, in charge of the application process for the aff ordable units, remained positive about the lottery prospects. “We are hoping to have at least a dozen appli- cations by Oct. 11,” John Costello, Malo- ney’s aff ordable-housing manager, told the Times shortly before the deadline. “Th ese are beautiful units; new construction with off -street parking.” His prediction was on the money. Just before the deadline, 21 applications dropped into the lottery hat. According to news reports, one of the aff ordable condos will go to a family that lives or works in Falmouth, or has children in local schools; 14 applications came in for that unit. Th e second unit is open to all applicants who meet aff ordable income standards. Th ere were income and asset limitations for applicants in the lot- tery; the remaining seven applications fi t this requirement. Th e price of market-rate condos in the complex will run in excess of $700,000 each, but the aff ordable condos, with three bedrooms and two bathrooms, are priced at $232,584 and carry a monthly condo fee of $157. Cronin Launches Sales of St. Regis Residences In October, Cronin Development launched sales of Th e St. Regis Residences, with the opening of a “high-touch/high- tech” waterfront sales center at 250 North- ern Ave. in Boston. In a press release, the company said the custom-built waterfront space, called the “Experience Center for Th e St. Regis Resi- dences, Boston,” off ers visitors a “high- tech experience, luxury service and Bos- ton Harbor views that mimic what buyers will experience inside the tower’s 114 con- dominiums.” Th e St. Regis Residences, Boston, now under construction at 150 Seaport Blvd., is expected to open in 2021. Th e sales center features a built-to- scale model kitchen and bath that allows buyers to preview the fi nishes chosen for quality, style and performance. “In the Experience Center, future residents will touch, feel and see the high-level of qual- ity and design we are planning for Th e St. Regis Residences, Boston – which will be a landmark development,” said Cronin Development founder Jon Cronin. “When it opens, it will be one of the fi rst stand- alone St. Regis Residences in the world and will mark the debut of the brand in Boston.” Condos Planned for Brighton Construction on a six-story, 49-unit condo building to replace an existing building at 50 Leo Birmingham Parkway in the Brighton section of Boston is ex- pected to begin in February. According to BostonCurbed.com, the Boston Planning and Development Agen- cy approved the plan in late summer. Th e developer, City Realty Group, is planning a new 48,645-square-foot building hous- ing 12 studios, 21 one-bedroom, 13 two- bedroom and 3 three-bedroom units. Six of the condos will be income-restricted, Curbed reported. In addition to 52 off -street parking spaces, the project will include room for more than 50 bikes. Foreclosures Take Dramatic Drop Foreclosure starts in August sank to their lowest level in more than 18 years, according to the latest First Look report from Black Knight, a provider of soft ware, data and analytics solutions to the mort- gage and consumer loan, real estate and capital markets. Foreclosure starts fell to 36,200 for the month, down more than 23% from the same time last year, the report showed. Th is is the lowest number for any single month since December 2000. Th e total number of loans in active foreclosure con- tinued to improve, dropping to 253,000. Th is represents the lowest level since 2005, the report said. Even as foreclosures are decreasing, low interest rates are making their market and increasing prepayments by 5% from July to August, marking a three-year high. August’s prepayment rate increased 62% from August 2018, and was up 250% from an 18-year low in January this year, the re- port noted. In 2018, there were more than 600,000 American homes in foreclosure, the low- est rate of default since the nation’s fi - nancial crisis. By comparison, when the nation’s foreclosures were at their peak in 2010, there were about 2.9 million Ameri- can homes facing a foreclosure. n PULSE continued from page 21 Please submit Pulse items to Darcey Gerstein at darcey@cooperator.com See Our Display Ad on Page 11 See Our Display Ad on Page 20