Chelsea’s Real Estate Resurgence Continues Bowen, Castillo Set to Unveil Parker Place Condos

Chelsea real estate agent Jeffrey Bowen said
all the hard work by city officials over the past 20 years is paying off.

“Chelsea is booming,” says Bowen. “City
Managers Jay Ash and Tom Ambroino, the city councilors, and the community have
brought it back to where we are now. Chelsea is the No. 1 gateway city in
America with the lowest price-per-foot next to a major metropolitan city
(Boston).”

Bowen knows much the city’s resurgence and the booming real estate scene. He is currently marketing his third major project, Parker Place, 12 new luxury condominiums at the corner of Parker Street and Spencer Avenue. The developer for the three projects has been Jason Roback of Roback Real Estate.

“Jason prides himself in bringing value and
quality to the future residents of Chelsea,” credited Bowen.

Bowen and his partner, Sandra Castillo, of
ERA Russell Realty Group, will host an open house each Saturday and Sunday
(12-2 p.m.) at Parker Place, which is already drawing significant interest
among prospective buyers.

Bowen’s previous successes span the city,
notably the Beacon Condominiums (81 Broadway) and the Thomas Martin Lofts (204
Spencer Ave.)

Parker Place, located at 87 Parker St, is a
seven-story building featuring 12 units: 11 two-bed, two-bath, one two-bed,
one-bath. Five of the units have garage parking, seven have outdoor spots. Out
of the 11 two-bed, two-bath units, one is an affordable unit for medium-income
residents (price to be determined by the City of Chelsea).

According to Bowen and Castillo, the prices
at Parker Place range from $449,000 to $539,000.

“Each
condo has air-conditioning, maple hardwood flooring, custom kitchens, and
stainless-steel appliances,” said Bowen. “This in an elevator building. Four of
the units have roof decks. Eight of the units have balconies.”

Bowen said the area has become one of the
hottest in the greater Boston real estate market.

“You have the DaVinci Lofts (960 Broadway),
the Industrie Lofts (950 Broadway), the Spencer Lofts (60 Dudley St.), the Keen
Lofts (220 Spencer Ave.), and the Thomas Martin Lofts (204 Spencer Ave.),’ said
Bowen.

And the boon is continuing, with the Chelsea
Zoning Board’s approval Tuesday night of the Forbes Development that will
consist of 590 units.

A good time to buy

There is no time like the present to invest
in Chelsea, according to Bowen.

“Condominium prices are 25-50 percent higher
a mile or two away in East Boston and Charlestown,” said Bowen. “Downtown
Boston and the Seaport District (South Boston) is double and triple. Chelsea is
still very affordable. It’s a good time to buy. You get more bang for your
buck. There is room to grow here.”

Other advantages for buyers are access to
Route 1, the Silver Line, five bus routes, and a commuter rail. Five new hotels
in Chelsea also underline the fact that the city is flourishing. The new Encore
Casino opens in Everett in June.

Bowen takes personal pride in Chelsea’s
resurgence. A resident of the city, he was featured in a recent segment on
Channel 5’s “Chronicle,” showcasing all the good things that are happening
here.

“Sandra and I are our team and we work well
together helping people find the residence of their dreams,” said Bowen, who
has been No. 1 in the luxury condominium segment of real estate in Chelsea. “I
have a relationship with a lender that has a program with rates as low as 3.69
percent on a 30-year fixed mortgage that also includes $7,000-lender-paid
closing costs (for qualified buyers).”

Said Castillo, “Whenever we go in to a
building, we actually get the highest price for the seller. We also get calls
from previous buyers and we’ve been able to double their investment. Our condos
don’t last very long on the market because they are such a great value and they
have everything people are looking for.”

(For more
information about Parker Place Condominums, please email
info@chelsearealestate.com).

Link to article: 

Chelsea’s Real Estate Resurgence Continues Bowen, Castillo Set to Unveil Parker Place Condos

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