Wayne Braverman, Boston Homes
The newest boutique luxury condo development in the rapidly growing Fort Point neighborhood of the Seaport District is currently under construction at 10 Farnsworth St.
At one time, Fort Hill was home to a fortification called Fort Point. It was during colonial days and its great height and location, jetting out into the Atlantic Ocean made it a perfect place to put a fortress, armed with defensive cannons.
As the young country moved on from the Revolutionary War, the War of 1812 and the Civil War, times changed, as did the economic needs of Boston. Between 1866 and 1872, the city worked on flattening the hill and widening the streets, filling in a part of the harbor to add more land for businesses. With the project to push the shoreline out, the fort was no longer on the waterfront.
Today, Fort Point is a lot flatter than it was back in the mid-1800s. And what is happening there today is exciting.
According to Jillian Reig of Campion and Company, the listing brokerage of the six-story project, “10 Farnsworth is a unique product for Boston. With only nine homes, it offers boutique-style living with direct elevator access, garage parking and ultra luxurious finishes in the hottest neighborhood in the city.”
Reig says that 40 percent of 10 Farnsworth is currently under agreement. Construction should be complete in October.
With prices starting at $2,650,000, 10 Farnsworth includes eight large open-space 2,100-square-foot units and an amazing 4,300-square-foot penthouse.
“I think the fact that there are only nine units makes this project very special,” said Steve Losordo, also of Campion and Company. “There is so much development coming down the pike and there is nothing like 10 Farnsworth. With garage parking, direct elevator access and no common hallways, it’s the perfect building for someone who wants ultimate privacy at home, but at the same time be just steps away from everything Fort Point and the Seaport have to offer.”
David Nagahiro of Boston-based CBT Architects is the lead designer for this development.
“The juxtaposition of this glass jewel-box of a building and its neighboring 100-year-old brick and beam Boston Wharf buildings will, without a doubt, make it an iconic building. Architecturally, it’s intentionally the opposite of everything down and I think CBT knocked the cover off the ball with their design. It’s a true gem,” said Losordo.
According to http://www.bldup.com, as of last month, “pouring of 10 Farnsworth’s six-story cast-in-place concrete superstructure has reached the Fort Point luxury condominium building’s future third floor.” After the 10 Farnsworth’s superstructure was topped off, the next step is weatherproofing and exterior finishing.
In addition to direct elevator access, those who will call this beautifully designed building home will enjoy the on-site garage with an automated parking system. There is also plenty of opportunity to enjoy the outdoors either alone or with fellow residents, thanks to the combination of shared and private roof decks and gardens. The common roof deck is a massive 1,765 square feet with striking views of the Boston skyline.
Great care has been given to make sure that only the finest materials are being used to make each of these units a special haven of custom design and beauty. Residents will love the generous wide-open floor plans and the tremendous floor-to-ceiling windows.
The chef of the family is going to be thrilled with the gourmet kitchen that features Carrera counters, Italian cabinetry by Arclinea and appliances by Sub-Zero, Wolf and Asko, including a fully vented six-burner gas range.
The master bedroom suits offer expansive wardrobes and ultra-luxurious en-suite bathrooms with walk-in showers and a relaxing sculptural freestanding tub.
Being comfortable at home is not going to be a challenge at any time of year, thanks to the central-air, gas fireplaces and radiant flooring.
And unlike those who lived in the area during the colonial times, residents today will enjoy all that modern technology has to offer. The complete and customizable Smart Home technology runs off an Android or iOS. This means the owners get full automation control of media, lights, music, blinds and security and entry systems right from their computers, phones and other mobile devices.
Residents will find that their neighborhood is a special place in the city. One of the things that make this so unique in Boston is the Fort Point Arts Community with a membership of more than 300 artists.
“It’s an exciting area. I love that Fort Point is a neighborhood that was never intended for residential units. It was built for industry and that is what makes it so cool and so authentic. Fort Point became, and still is, an artist community and that creative energy mixed with the historic charm of Industrial Boston makes for a very cool place to live,” said Losordo.
The residents at 10 Farnsworth will find easy access to major transportation points in the Downtown Boston area, including highways and public transportation. The building is with walking distance of historic South Station. Built in 1899, this is the largest railroad station and intercity bus terminal in Greater Boston and New England’s second-largest transportation center (first is Logan International Airport). Today, it is used by thousands of commuter rail, MBTA and Amtrak passengers on a daily basis. Connections to the T’s Red Line and Silver Line are here.
And for those who want to stay more local, residents of 10 Farnsworth will enjoy all the great features the Seaport District has to offer. The Seaport District is home to many excellent restaurants. Residents will also enjoy being within sight of the Fort Point Channel. Getting to the Boston Children’s Museum, Flour Bakery & Cafe, Bee’s Knees and Yada Yada Bakery in Boston’s Seaport District is a very short walk.
“I think Fort Point has changed in that in now has every convenience you’d want in a neighborhood. I lived there in the early 2000s and we had Lucky’s and The A Street Diner,” said Losordo. “Fort Point has kept its industrial and artistic character, but now has everything that may have kept some folks from looking to live there even a few years ago.”
The Seaport District is the fastest growing neighborhood in the city with other new residential developments at 320 on D, 100 Pier, 49 Melcher, 315 on A, Parklane and Waterside Place.
In addition to the homes at 10 Farnsworth, there will also be approximately 1,400 square feet of ground-floor retail space in the building.
Catherine Carlock, Boston Business Journal
TCR Development is gearing up to start construction this summer on 10 Farnsworth, an ultra-luxury boutique condominium project at 338 Congress St. in Fort Point.
The project was originally planned by Gate Residential, the multifamily fund of Boston-based Redgate Real Estate Partners, as a high-end, nine-unit complex set to be finished this year. Marketing materials for the complex boasted features such as facial and thumbprint recognition technology and a customized, automated smart-home system.
Redgate backed out of the development last year, opting to sell the 338 Congress St. land parcel to a joint venture of TCR Development and JB Ventures for close to $6 million.
Tom Calus, principal and founder of TCR Development, told the Boston Business Journal on Tuesday that he anticipates construction starting in June and opening by late summer 2017.
“It’s coming to reality, finally,” Calus said. “It’s a great location. I think that it’s the right scale for the neighborhood. It’s the right kind of product for the neighborhood as well. We’re really excited with it.”
The project comes at a time of tremendous activity in Fort Point’s real estate market. Global consumer products conglomerate General Electric Co. (NYSE: GE) recently announced it would establish a three-building headquarters on a 2.5-acre parcel fronting Fort Point Channel, while TIAA this month closed on the $224 million purchase of six Fort Point buildings.
Boutique real estate agency Campion & Co. will list the 10 Farnsworth development. Calus said that, while the project isn’t yet listed, he anticipates units starting around the high-$2 million range. The 4,300-square-foot penthouse, meanwhile, could be listed for $7.5 million.
The project’s contractor is Sea-Dar Constructon. The architect was CBT Architects Principal David Nagahiro.
“The design is a little bit out of the ordinary compared to other things that go up in Boston,” Calus said. “It’s got that really cool, boutique-y kind of feel. I think it’s going to be great. It’s going to be a good addition to the neighborhood.”
Tom Calus was recently profiled in Hingham Saving's annual report.
Scott Van Voorhis, Boston Common Magazine
Catherine Carlock, Boston Business Journal
Boston’s Fort Point neighborhood has a new developer.
Gate Residential has sold the land parcel at 338 Congress St., currently a surface parking lot, to a joint venture of TCR Development and JB Ventures for just shy of $6 million, according to a Suffolk County deed.
TCR Development is a Boston-based boutique real estate development firm, led by Tom Calus. Boston-based JB Ventures is led by Jas Bhogal and formed this year “to own, rent, lease, manage, develop, and sell real property,” according to Massachusetts Secretary of State documents.
Gate Residential is the multifamily fund of Redgate Real Estate Partners, a Boston-based real estate firm.
The project at 10 Farnsworth is a planned ultra-luxury boutique condominium complex, featuring nine units ranging in price from $3 million to $7 million. CBT Architects designed the project, which was supposed to be built early this year but has yet to get off the ground.
“Development team TCR Development and JBVentures have partnered up and intend to move forward with 338 Congress as we have all envisioned it,” said Lisa Serafin, a principal with Redgate Real Estate Advisors and community liaison for the 10 Farnsworth project, in an email to nearby residents.
Serafin said in an interview with the BBJ that Redgate will instead focus on its outer-urban multifamily development, such as rental projects in Quincy and Chelsea.
“We were fully prepared to continue moving forward, but we were introduced to these guys, and this is what they do specifically,” she said. “It wasn’t really our specialty, persay. It was a really great project, and the community was really great, and we were sad to see it go.”