Cambridge New Construction Developments
One First Cambridge:
One First is one of Cambridge's newest luxury condo developments. Originally a chocolate factory, this 196-unit luxury complex is located directly across the street from the Lechmere Green Line T Station, as well as the Cambridgeside Galleria. There is a 24/7 concierge, fitness center, roofdeck, and garden. These ultra modern condos feature brazilian cherrywood floors, granite kitchen countertops, stainless steel appliances, marble bathrooms, high ceilings, and washer/dryer in the unit. Massachusetts Institute of Technology (MIT) & Kendall Square is a short walk away. Downtown Boston is literally right over the bridge. There is a 24hr concierge, state-of-the-art fitness center, and pool. Indoor garage parking is also available. Condos for sale at One First start around $399,000. Rentals typically start around $1800 for 1 bed apartments.
The Northpoint development is brand new "city within a city" near the Cambridgeside Galleria that will include approximately 2700 residential condos, 2.2 million square feet of commercial space, and hundreds of luxury apartments. There will be city blocks, street lights, walking paths, parking garages, a new MBTA station, and even a pond. It is located literally right over the bridge from Downtown Boston. Mass General Hospital (MGH), Massachusetts Institute of Technology (MIT), & HULT International Business school are nearby. Right now, a few of the condo buildings have been completed such as "Tango" & "Sierra". Archstone Smith just put in a rental building that is one of the most coveted in the Boston area. 1 bedroom condos for sale typically start around $349,000. 1 bedroom apartments for rent typically start around $2000 for a 1 bedroom, and 2 bedroom rentals typically start around $2,800.
CAMBRIDGE MASSACHUSETTS CONDO MARKET
Perhaps one of the most well-known cities in the "Greater Boston" area – surrounding Boston is Cambridge, Massachusetts. Named after the University of Cambridge in England, this city is home to two of the nation's most prestigious and well-known universities – Harvard University and Massachusetts Institute of Technology (MIT). These universities, as well as several others located in this city, make this a great place to settle down. Not surprisingly, due to the ever-present demand for housing, Cambridge has a great deal of condominiums for sale. And despite the rising prices of housing across the country in recent years (especially in cities that are home to major universities), the prices in Cambridge have remained relatively stable. The prices of housing are lower than similar areas, while the average salary is slightly higher. This makes it a little less difficult to find a nice home at an affordable price.
Real estate in Cambridge:
While the median listing price for all homes is $629,000 – the median sales price for a single family or multi-family home is approximately $1,000,000 and the median sales price for a condominium is approximately $553,00.
Though one bedroom and two bedroom condos are the most common sizes found in Cambridge, though there are a few listings for larger ones as well. And when comparing prices of condos with either a single-family or multi-family house, the difference is apparent. A fairly large condo can be purchased for cheaper than a single family home. Depending on the situation of course, a condo in Cambridge can be the perfect place to call home.
While some individuals may already have employment in the area, and some may be relocating for work, there are others who may be seeking employment in Cambridge. A large percentage of the people who live in the city are employed by the universities. Harvard and MIT together provide about 20,000 jobs for people in the area. In addition to those two, there are several other colleges in town that account for a portion of the jobs. Therefore, Cambridge would be a great option for individuals who are looking for a condo in a great city around Boston, and who may be qualified to work (in some way) in a university. Of course, there are other jobs as well, however, it would be a great opportunity for anyone (qualified) interested in that line of work.
Good schools are a top priority on most people's lists when looking for a new home. Cambridge is home to several choices of schools that offer pre-kindergarten through 12th grade. This includes 13 public elementary; 2 public middle; 2 public high; 10 private; and 3 catholic schools in town. With a great choice of schools from the first day of learning to the last, this town makes a great place to live. Offering the stability of long-term living, yet the flexibility to quickly sell if needed – a condominium in Cambridge is an overall incredible investment opportunity.