Welcome to Centers and Squares
As a Cambridge real estate agent, the city squares of Cambridge, Somerville and Medford and the town centers of Arlington, Watertown and Belmont, Massachusetts are my home turf. And as a lifelong New Englander who’s lived within twenty miles of Boston most of my life, I can introduce you to other nearby towns as we search for your new home. If you’re planning to sell your home in Cambridge, MA or nearby you’ll find plenty of info about the home selling process here too. Questions? Send me an email or call me at 617-504-1737.
A recent line in the New York Times caught my eye the other day. It seems that the average price per square foot for a condo at One57 in Manhattan – aka the Billionaires Building – aka the building-with-the-collapsed-crane – is $6,500. $6,500 to own a square foot of New York City. Yowza! Turns out that that’s not the most expensive real estate in NYC – I found at least one reference to a sale for twice that or $13,000 per square foot.
What’s the highest price per square foot in Cambridge I wondered?
In the last three years only four buildings in Cambridge commanded a price per square foot of more than $1,000. Only 14 properties of the 2,556 condos or houses – just over 1/2 of 1% – sold in Cambridge sold for more than $1,000 per square foot in the last three years. The buildings with the highest price per square foot in Cambridge are:
University Green at 130 Mount Auburn Street (3 condos sold)
The Esplanade at 75-83 Cambridge Parkway (3 condos sold)
The Residences at Charles Square at 975 Memorial Drive (7 condos sold)
1010 Memorial Drive (1 co-op sold)
These Cambridge buildings that command the highest price per square foot are all full-service luxury buildings. Three of the four are on the Charles River. University Green and Charles Square are right in Harvard Square.
For these 14 Cambridge properties, the price per square foot ranged from $1,003 to $1,516. That’s the top price you’ll pay in Cambridge but in NYC it’s an average price – or more precisely the median price – which ranged from $1,129 to $1,592 per square foot in New York City’s most expensive neighborhoods. In Cambridge, a relative bargain by New York City standards, this year the median price per square foot for condos was approximately $468.
When you search for properties that have sold for more than $1,000 per square foot in Cambridge in the last few years your search will return only condos and co-ops. You have to search further back to find any houses that sold at this price point. Two single family houses, one in 2003 and one in 2006, sold for more than $1,000 per square foot. Both were in the Brattle Street neighborhood of West Cambridge. A couple of other houses commanded a price per square foot in this range but the price was clearly based on the land, not the structure.
Wondering what’s for sale in Cambridge’s most expensive buildings? Here are condos currently listed for $750,000+
Photo of the collapsed crane at One57 courtesy of Sarah_Ackerman.