Two Years Late: Cushing Village Taking First Step Towards Construction

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Photo: The municipal parking lot up for sale in Cushing Square is adjacent Starbucks.

Exactly two years to the day after the town’s Planning Board approved a special permit granting him permission to begin construction, the developer of the troubled Cushing Village complex will be before town officials early next week seeking to purchase a critical piece of town-owned property so he can finally begin construction on the long-stalled project. 

The Belmont Board of Selectmen’s Monday, July 27 meeting agenda calls on the board to initially meet in executive session before proceeding to vote whether or not to sell the municipal parking lot at Williston and Trapelo roads to a newly-formed partnership consisting of original developer, Smith Legacy Partners, and its new business associate, Cambridge-based Urban Spaces.

The price tag for the parking lot adjacent Starbucks – set two years ago – is $850,000; along with fees and permits, the final price is closer to $1.3 million. The property will house the first of three buildings making up the 186,000 square-foot retail/housing/parking development in the heart of Cushing Square.

The vote to sell the property marks the two year anniversary when Smith Legacy’s Chris Starr was granted the 25-page special permit from the Planning Board at the culmination of an 18-month design review phase on the project made up of 115 residential units, 38,000 sq.-ft. of retail space and 235 parking spaces. 

At the time, Starr proclaimed an accelerated project schedule. Starr told media outlets construction on the first building – located on the parking lot – would be open for retail businesses and resident housing by the late fall/early winter of 2014. The entire project would be completed by mid-summer 2016, said Starr.

But it soon became apparent Starr was unable to find a financial source willing to back him due to his lack of experience building large-scaled projects. In March 2014, Starr struck a deal with the town to extend the closing on the parking lot by a month for a $20,000 fee. The fee increased to $30,000 a month after a year.

By Sept, 2014, Starr hired a Boston realty firm, Boston Realty Advisors, to unearth a partner or sell his stake in the development. The campaign went international with large ads on a leading Asian real estate website.

In the end, a young development firm, Urban Spaces, joined with Starr. It remains unclear the partnership arrangement between the two, including whether there is a majority stakeholder or arrangements for future management of Cushing Village. 

And it does not appear the partnership has been damaged with the arrest of Urban Spaces’ CEO and founder, Paul Ognibene, who was arraigned last week on one count of sexual conduct for fee after he was arrested by Cambridge Police in a sex sting.

Impact on Cushing Village Unclear After Financial Partner’s Arrest

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Photo: Paul Ognibene (right, obscured) (courtesy WCVB-TV).

Cushing Village has possibly suffered another setback with the arrest Tuesday of the Cambridge developer seen as the financial “White Knight” who in April appeared to rescue the 167,000 square-foot multi-use project floundering for nearly two years after it was approved by the town in July 2013. 

Paul Ognibene, 43, of Cohasset was arraigned in Cambridge District Court on Friday, July 17, on one count of sexual conduct for fee after he was arrested by Cambridge Police in a sex sting that took place in the food court of the CambridgeSide Galleria mall.

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Cushing Village development partner Paul Ognibene, 43, of Cohasset, during his arraignment in Cambridge District Court on Friday, July 17, 2015. (courtesy WCVB-TV)

Cambridge Police allege Ognibene, the owner and principal of Cambridge-based Urban Spaces, placed a job description on Craigslist job soliciting an office assistant that an investigation by the police’s special investigation unit determined to be a “false job which is actually soliciting girls for sex.”

Ognibene, who resigned as chair of the Cohasset School Committee on Friday as a result of this arrest, pled not guilty and was released on personal recognizance. His attorney released a statement saying Ognibene “was sorry” for what had occurred.

See a chronicle of Ognibene’s arrest here, here, here and here. 

It is unknown at this time if Ognibene’s arrest could impact any financial arrangements he has made with lenders concerning Cushing Village. It is not unusual for business agreements to be altered or pulled due to adverse publicity. This month, Macy’s parent company ended its business partnership with New York developer Donald Trump after the Republican presidential candidate made sweeping allegations concerning Mexicans who entered the US illegally across the US/Mexican border.

On April 27, Cushing Village’s developer Smith Legacy Partners said Urban Spaces had become its “development partner” in constructing the three-building complex comprising 115 apartments, approximately 36,000 square feet of retail/commercial space and a garage complex with 230 parking spaces. 

Urban Spaces’ “development expertise will help to ensure that the vision we have for the Cushing Village project becomes a reality,” said Chris Starr, the managing partner of Smith Legacy Partners which is located in Acton.

The press release noted that Urban Spaces “acquires, develops and manages high-end residential properties in close proximity to urban centers.”

The April announcement appeared to be a turning point for the troubled development which been paying the town $20,000 a month since March 2014 in a series of  30-day extensions for the closing date of the purchase and sale agreement for the municipal parking lot. The development’s financial issues have been well chronicled from missing repeated ground breaking dates to hiring a high-powered real estate firm to find an equity partner.

An email to Starr’s PR representative has not been answered.

Sold in Belmont: Capes, Colonials and Condos Take Market into July

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Photo: A classic pre-war Cape. 

A weekly recap of residential properties sold in the past seven-plus days in the “Town of Homes.”

12 Bayberry Ln., Townhouse condominium (2006). Sold: $1,260,000. Listed at $ 1,298,000. Living area: 2,740 sq.-ft. 8 rooms, 3 bedrooms, 2.5 bath. On the market: 92 days.

33 Homer Rd., Garrison Colonial (1940). Sold: $1,550,000. Listed at $1,639,000. Living area: 3,469 sq.-ft. 11 rooms, 4 bedrooms, 3.5 baths. On the market: 157 days.

64 Hoitt Rd., Classic Cape (1951). Sold: $714,000. Listed at $689,000. Living area: 1,272 sq.-ft. 7 rooms, 4 bedrooms, 1.5 baths. On the market: 70 days.

3-1 Agassiz, Condominium (2006). Sold: $570,000. Listed at $ 569,000. Living area: 2,157 sq.-ft. 7 rooms, 3 bedrooms, 2.5 bath. On the market: 63 days.

9 Gilmore Rd., Cape (1938). Sold: $755,000. Listed at $719,000. Living area: 1,488 sq.-ft. 7 rooms, 3 bedrooms, 1.5 baths. On the market: 49 days.

89 Hammond Rd., Colonial (1925). Sold: $900,000. Listed at $869,000. Living area: 1,776 sq.-ft. 7 rooms, 3 bedrooms, 2.5 baths. On the market: 77 days.

76 Lawrence Lane, Colonial (1937). Sold: $992,000. Listed at $1,195,000. Living area: 3,293 sq.-ft. 11 rooms, 6 bedrooms, 5 baths. On the market: 84 days.

15 Marlboro St., #1, Condominium (1906). Sold: $495,000. Listed at $489,900. Living area: 1,064 sq.-ft. 6 rooms, 2 bedrooms, 1 bath. On the market: 48 days.

The Belmont residential market appears to have returned to last year’s script: high-end houses will take a haircut before selling while prices for more modest abodes – especially lower than the town’s median value of $845,000-ish – will hold up in an environment where the inventory for more affordable units can not keep up with demand. 

A great example is the solid Colonial on Lawrence Lane up on Belmont Hill. This pre-war house is large, at approximately 3,300 square feet, with five baths and six bedrooms which appears to be what every buyer is clamoring to find. But despite great period detail such as a wonderful in-wall bookshelf in the den and an updated kitchen (including two dreadful skylights), the final sales price was $200,000 below the original list, falling before the seven figure benchmark. Could it be that while priced right for a similar-sized house built within the past five years, it may have been seen as “old” and lacking the finer points of the new mega-homes such as 15-foot ceilings and an open floor plan? 

The buyer who “won” the week was the person who purchased the beautiful Cape on Gilmore. At 1,500 square feet, it would be considered a bit of a squeeze for some families. But others would find it warm and cozy with a great three-season porch that will get a great deal of use, that is until the construction of the Uplands gets underway. 

Sold in Belmont: Million-Dollar Plus Colonials (and a Ranch) Return

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Photo: Classic Dutch Colonial at 30 Hurd Rd.  

151-153 Beech St., Triple decker (1905). Sold: $905,500. Listed at $ 899,900. Living area: 3,029 sq.-ft. 14 rooms, 3 bedrooms, 3 bath. On the market: 31 days.

33 Woodfall Rd., A grand brick ranch (1956). Sold: $1,375,000. Listed at $1,349,000. Living area: 2,623 sq.-ft. 8 rooms, 4 bedrooms, 3.5 baths. On the market: 56 days.

38 Cowdin Rd., Traditional Cape (1951). Sold: $771,000. Listed at $715,000. Living area: 1,535 sq.-ft. 6 rooms, 2 bedrooms, 1.5 baths. On the market: 57 days.

23-25 Beech St., Two family (1890). Sold: $720,000. Listed at $ 715,000. Living area: 2,978 sq.-ft. 13 rooms, 4 bedrooms, 2 full, 2 half bath. On the market: 54 days.

30 Hurd Rd., Classic Dutch Colonial (1928). Sold: $1,200,000. Listed at $1,079,000. Living area: 2,010 sq.-ft. 8 rooms, 4 bedrooms, 2 full, 2 half bath. On the market: 63 days.

61 Spring Valley Rd., Sort of a ranch/colonial hybrid (1957). Sold: $1,460,000. Listed at $1,549,000. Living area: 3,865 sq.-ft. 12 rooms, 5 bedrooms, 5 baths. On the market: 122 days.

19 Highland Rd., Brick/frame Dutch Colonial (1921). Sold: $1,350,000. Listed at $1,299,000. Living area: 3,687 sq.-ft. 11 rooms, 4 bedrooms, 3.5 baths. On the market: 122 days.

17 Knox St., Nondescript (2004). Sold: $928,500. Listed at $939,000. Living area: 2,323 sq.-ft. 8 rooms, 5 bedrooms, 3 full and two half baths. On the market: 87 days.

Sold in Belmont: Condos Lead the Way (Once Again) Last Week

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Photo: The colonial on Stone Road going for $1.6 million. 

A weekly recap of residential properties sold in the past seven-plus days in the “Town of Homes.”

24-26 Skahan Rd., Multifamily (1920). Sold: $975,000. Listed at $919,000. Living area: 2,801 sq.-ft. 12 rooms, 5 bedrooms, 3 baths. On the market: 56 days.

72 Waverley St. #2, Townhouse-style condominium (1923). Sold: $533,000. Listed at $ 479,000. Living area: 1,469 sq.-ft. 8 rooms, 3 bedrooms, 1 bath. On the market: 58 days.

52 Harvard Rd. #2, Condominium (1920). Sold: $515,000. Listed at $449,500. Living area: 2,801 sq.-ft. 6 rooms, 2 bedrooms, v1 baths. On the market: 47 days.

47 Berwick St. #1, First-floor condominium (1926). Sold: $459,000. Listed at $ 439,000. Living area: 1,125 sq.-ft. 6 rooms, 2 bedrooms, 1 bath. On the market: 65 days.

44 Lewis Rd., Top-floor condominium (1924). Sold: $420,000. Listed at $415,000. Living area: 1,074 sq.-ft. 6 rooms, 3 bedrooms, 1 baths. On the market: 40 days.

199 Beech St. #A, First-floor condominium (1955). Sold: $381,000. Listed at $399,000. Living area: 799 sq.-ft. 4 rooms, 2 bedrooms, 1 bath. On the market: 80 days.

100 Village Hill Rd. Colonial (1937). Sold: $970,000. Listed at $980,000. Living area: 2,900 sq.-ft. 12 rooms, 4 bedrooms, 2.5 bath. On the market: 78 days.

26 Jonathan St. #1, First-floor condominium (1926). Sold: $430,000. Listed at $374,900. Living area: 1,004 sq.-ft. 5 rooms, 2 bedrooms, 1 bath. On the market: 59 days.

24 Stone Rd. Colonial (1917). Sold: $1,600,000. Listed at $1,579,000. Living area: 3,285 sq.-ft. 10 rooms, 5 bedrooms, 3.5 bath. On the market: 42 days.

86 Channing Rd., Colonial (1942). Sold: $730,000. Listed at $699,000. Living area: 1,344 sq.-ft. 7 rooms, 3 bedrooms, 1 bath. On the market: 77 days.

111 Channing Rd., Colonial (1941). Sold: $580,000. Listed at $649,000. Living area: 2,155 sq.-ft. 7 rooms, 3 bedrooms, 1 bath. On the market: 203 days.

Sold in Belmont: The Good, the Mind Boggling and How Much Ugly for $1.2M

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Photo: “Ugh” on Brighton.

A weekly recap of residential properties sold in the past seven-plus days in the “Town of Homes.”

26 Holden Rd., #2, Condo (1926). Sold: $471,000. Listed at $449,900. Living area: 1,172 sq.-ft. 6 rooms, 2 bedrooms, 1 baths. On the market: 61 days.

16 Candleberry Ln., Townhouse condominium (2006). Sold: $1,420,000. Listed at $1,495,000. Living area: 3,482 sq.-ft. 10 rooms, 4 bedrooms, 3.5 bath. On the market: 69 days.

280 Brighton St. It’s new (2015). Sold: $1,246,000. Listed at $1,299,000. Living area: 4,040 sq.-ft. 12 rooms, 5 bedrooms, 3 baths. On the market: 246 days.

531 Concord Ave., Claflin-Atkins Estate, Georgian Revival (1926). Sold: $3,037,500. Listed at $3,495,000. Living area: 7,277 sq.-ft. 17 rooms, 8 bedrooms, 6 full, 2 half-baths. On the market: 125 days.

21 Dean St., Brick/frame Garrison Colonial (1935). Sold: $1,030,000. Listed at $950,000. Living area: 6,440 sq.-ft. 9 rooms, 4 bedrooms, 2.5 baths. On the market: 70 days.

62 Trowbridge Street #2, Townhouse condominium (2010). Sold: $750,000. Listed at $699,000. Living area: 1,528 sq.-ft. 6 rooms, 3 bedrooms, 2.5 bath. On the market: 36 days.

45 Springfield St #1, Condominium in two family (2014). Sold: $480,500. Listed at $439,000. Living area: 1,060 sq.-ft. 6 rooms, 2 bedrooms, 1 baths. On the market: 57 days.

23 Russell Terrace, Townhouse condominium (2011). Sold: $872,000. Listed at $842,000. Living area: 2,418 sq.-ft. 7 rooms, 3 bedrooms, 3.5 bath. On the market: 68 days.

We’ve lost our collective minds. Or at least homebuyers have. It’s right there on Dean Street. A nice 80-year-old Garrison Colonial of ground-level brick over a second-floor frame. Nothing extraordinary, on a small lot, and better than average space at 2,300 square feet. Just your vanilla Belmont house …  

… that just sold for more than a million bucks! Not located on “the Hill” or along “Gol(d)en” Street, this structure was in the heart of Belmont’s most “average” of its neighborhoods. 

If this Winn Brook sale doesn’t sounds a clarion call to Belmont homeowners to sell and reap the rewards of buying a Colonial back in the 1990s, they will have only themselves to blame if this purchase signals a housing bubble that is ready to burst.

•••

A lovely mansion – the  Claflin-Atkins Estate – on upper Concord Avenue is one of the biggest homes in Belmont, coming in at nearly 7,300 sq.-ft. (around the same number of feet of an average 18-hole round on the PGA tour) sitting on nearly two acres of land on “the Hill.” The mansion’s southeastern exposure providing spectacular skyline views of Boston. Inside, it boasts seven-plus bedrooms, six full and three half baths, seven fireplaces, two screened porches, three levels of living space and, yes, a two-room museum that was built to show off items from the China trade.

•••

There is an architect who needs to hide their face in SHAME for designing what has to be the leading candidate for “Ugliest House in Belmont” located on Brighton a block from Pleasant Street. Of course, it’s a McMansion, slapped up in a hurry before residents come with pitch forks and torches to prevent anymore 4,000 square-feet waste of space to be constructed.

Look at it; it’s incomprehensible! An uninviting collection of boxes and squares thrown together willy nilly – “I’ll place the dormer … here!” – with splashes of gaudy detailing, including a stone facade at the entry. Why? Not tacky enough? But the real insult to the neighborhood is its pair of driveways. Yes, two locations, one on Brighton and the other on Chilton, where the owners can dump their minivans to be an eyesore to the community. That’s disgraceful. This design spits in the faces of its neighbors. 

The thrown-together blueprint is almost childish but that would be insulting to three-year-olds who have better sense of spacial awareness than its designer. The interior is no better: what’s with all the recess lighting? Was the overall concept based on a GAP clothing store? Obviously the “open” room design will make this a dandy to heat this winter. Wait, IT IS A MALL INTERIOR! 

Oversized on the lot it took over, the pièce de résistance is the wire fence anchored in a brick wall: a little bit of Queens in Belmont. The sales information on the house calls it, and I quote, “Lowest Priced new construction in Belmont!!” Lowest priced, as in cheap.

“Oh, will no one rid me of this turbulent house?”

Sold in Belmont: A Modern Day ‘Tara’ in Ol’ Belmont

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Photo: 1 Sumner Lane.

A weekly recap of residential properties sold in the past seven-plus days in the “Town of Homes.”

• 1 Sumner Lane, It’s a mansion (2014). Sold: $3,200,000. Listed at $3,400,000. Living area: 6,440 sq.-ft. 14 rooms, 6 bedrooms, 5.5 baths. On the market: 246 days.

• 47 Moraine St., Contemporary condominium (1998). Sold: $685,000. Listed at $614,000. Living area: 1,963 sq.-ft. 8 rooms, 3 bedrooms, 3.5 bath. On the market: 50 days.

• 15 Marlboro St. #2, Second-floor condominium (1906). Sold: $485,000. Listed at $449,900. Living area: 1,054 sq.-ft. 6 rooms, 2 bedrooms, 1 baths. On the market: 46 days.

• 15 Marlboro St. #3, First-floor condominium (1906). Sold: $439,000. Listed at $429,900. Living area: 1,001 sq.-ft. 5 rooms, 2 bedrooms, 1 baths. On the market: 46 days.

• 124 Brighton St., Garrison Colonial (1940). Sold: $742,000. Listed at $699,000. Living area: 1,632 sq.-ft. 6 rooms, 3 bedrooms, 1.5 baths. On the market: 52 days.

• 35 Gilbert Rd. #2, Condominium (1925). Sold: $635,000. Listed at $599,000. Living area: 1,907 sq.-ft. 8 rooms, 3 bedrooms, 2 bath. On the market: 67 days.

• 41 Clairemont Rd., Brick English Tudor-style (1942). Sold: $1,550,000. Listed at $1,599,000. Living area: 3,512 sq.-ft. 8 rooms, 4 bedrooms, 2-full, 2 partial baths. On the market: 92 days.

• 73 Lincoln St., Colonial (1928). Sold: $850,000. Listed at $899,000. Living area:1,900 sq.-ft. 8 rooms, 3 bedrooms, 1.5 baths. On the market: 85 days.

The new mansion built on the recently laid out Sumner Lane (so new that it’s not on any maps) was likely inspired by the manse where Mr. Burns of “The Simpsons” reside. Can’t you see the new owner of this 6,000-foot HOUSE stepping out onto the portico proclaiming, “Release the hounds” onto any misguided residents who ventures onto to street to see this “big boy.”  

The roadway was initially going to be called “Strawberry Lane” but that name was dropped for this site off Concord Avenue and that’s a good thing. I think they wanted a connection with John Lennon but that would have been Strawberry Fields. 

I will give the developer and architect this: they found the proper place to put an oversized residential  building in Belmont, on 3/4 of an acre out in the edge of the woods. Its size actually gets absorbed into the landscape.

Not that the actual building has any architectural connection to New England, and the developer actually plays up on that fact. 

“The rolling lawns and graceful old trees will give you a feeling of the old south,” proclaimed the promotional material.

How ironic that they situation a new antebellum “Tara” on a street named after the Abolitionist senator from Massachusetts! How delicious! 

But wait, there’s more: 

“This stately brick front home will remind you of being in Colonial Williamsburg offering incredible views of conservation land and peeks of the Boston skyline. Imagine sitting on your front porch admiring the incredible Copper Beech tree that dates back to the Revolutionary War.”

What? Now its like the Lee Mansion in Virginia? 

Why didn’t the developer just say, we’re taking a standard design from successful big houses we built around Atlanta here in Belmont. When you’re paying $3 million plus, historical context be damn. 

Sold in Belmont: Seven Homes Taken Off the Market

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Photo: 16 Troy Road.

A weekly recap of residential properties sold in the past seven-plus days in the “Town of Homes.”

• 91 Channing Rd., Cape-style Colonial (1942). Sold: $639,900. Listed at $649,900. Living area: 1,212 sq.-ft. 6 rooms, 2 bedrooms, 1.5 baths. On the market: 76 days.

• 249 School St., Colonial with Dutch gable elements (1929). Sold: $1,381,000. Listed at $1,250,000. Living area: 3,044 sq.-ft. 12 rooms, 5 bedrooms, 4.5 bath. On the market: 61 days.

• 33 Gilbert Rd. #1, First-floor condominium (1925). Sold: $490,000. Listed at $449,000. Living area: 1,065 sq.-ft. 5 rooms, 2 bedrooms, 1 baths. On the market: 62 days.

• 16 Troy Rd., Cape (1950). Sold: $651,000. Listed at $649,900. Living area: 1,306 sq.-ft. 5 rooms, 3 bedrooms, 1 bath. On the market: 74 days.

• 100 Clairemont Rd., Extended Colonial (1930). Sold: $1,225,000. Listed at $1,250,000. Living area: 3,281 sq.-ft. 11 rooms, 5 bedrooms, 4 baths. On the market: 120 days.

• 10 Holt St., Townhouse condominium (2004). Sold: $850,000. Listed at $799,000. Living area: 2,550 sq.-ft. 9 rooms, 4 bedrooms, 2.5 bath. On the market: 57 days.

• 46 Lewis Rd. #2, Walk-up condominium (1924). Sold: $470,000. Listed at $425,000. Living area: 1,182 sq.-ft. 7 rooms, 3 bedrooms, 1 baths. On the market: 50 days.

How does any firm get someone other than their top line executives to move to Boston?

Let’s says mid-level manager Jolene Hightech is moving the family from Huntsville, Alabama (where the percentage of high tech workers in the labor market is second only to Silicon Valley) for a job in Cambridge and decides Belmont is perfect to relocated to because the fabulous schools and a quick commute to work.

In a gated community in the Alabama tech town, they were residing in their less-than-a-decade old 4,000 sq.-ft., four bed, four bath Federalist-style abode on Thayer Street. The amenities are numerous; a formal living, dining room and library – known as “the great room” – with hardwood floors opens to a big kitchen with access to the back patio. Upstairs is the master bedroom suite with a “Glamour Bath.” Homeowners can enjoy outdoor living in the covered front porch after parking their three cars into the garage. Across the street are two parks, a main clubhouse (it is a gated community) with an Olympic-sized pool, “and the neighbors who are all most kind, considerate, and friendly.” It is the South, y’all. 

The price tag in ‘bama: $650,000. 

So Jolene comes to one of the many friendly Belmont salespeople and says, “What can I see in the $650,000 price range?

$650K will get you this in Huntsville, 'Bama.

$650K will get you this in Huntsville, ‘Bama.

and this in Belmont, Mass.

and this in Belmont, Mass.

How about a 65-year-old post war framed Cape – with original wallpaper – in which the entire house could fit into the Huntsville’s “great room?” The bad news; there is only one bath room for the entire household. The good news, it’s inside. There is a chance that Jolene could carve out a study on the first floor but that would require sacrificing a bedroom that was cubby cornered next to the living room. And while there isn’t a pool nearby, the commuter rail is a dependable wake up alarm as it rumbles by at 5 a.m. 

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Kitchen on Troy Road, Belmont, and …

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… kitchen in Huntsville.

Seriously, how do salespeople in Belmont convince transplants what they are obtaining is anything close to what they are leaving? That’s a mystery to me.

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The “great room” in Huntsville.

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The study/bedroom in Belmont.

 

What needs to be done is convince developers to build mid-priced housing in the suburbs so inventory in this much needed sector can grow. But all the news in Boston and eastern Massachusetts is that luxury, high-end developments – such as the new multistory towers in downtown Boston and the Fenway and around the transportation hubs in nearby communities – are the only thing anyone wants to build, a segment of the market that has adequate supply.

And now you know why high tech jobs are migrating to North Carolina, the northwest coast of Florida and Alabama. 

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Outdoor living in Huntsville, (you can see the Olympic-sized pool and two parks from here.)

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And in Belmont.

 

Sold in Belmont: Condos on the Move As Spring Market Heats Up

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Photo: 14 Locust St.

A weekly recap of residential properties sold in the past seven-plus days in the “Town of Homes.”

• 68 Unity Ave., #2. Condominum (1924). Sold: $504,000. Listed at $490,000. Living area: 1,152 sq.-ft. 6 rooms, 2 bedrooms, 1 baths. On the market: 46 days.

• 14 Locust St., Center-entrance Colonial (1933). Sold: $1,050,000. Listed at $979,000. Living area: 2,198 sq.-ft. 9 rooms, 4 bedrooms, 2.5 bath. On the market: 43 days.

• 112 Slade St., Condominum (1928). Sold: $631,000. Listed at $599,900. Living area: 2,118 sq.-ft. 9 rooms, 4 bedrooms, 2 baths. On the market: 73 days.

• 78 Chester Rd., Condominium (1920). Sold: $520,000. Listed at $569,900. Living area: 2,198 sq.-ft. 8 rooms, 4 bedrooms, 2 bath. On the market: 113 days.

• 54 Marlboro St., Condominum (1905). Sold: $415,000. Listed at $399,900. Living area: 1,000 sq.-ft. 5 rooms, 2 bedrooms, 1 baths. On the market: 44 days.

• 125 Trapelo Rd. #8. Apartment building condo (1963). Sold: $275,000. Listed at $259,888. Living area: 517 sq.-ft. 3 rooms, 1 bedrooms, 1 bath. On the market: 60 days.

• 22 Brettwood Rd. Brick Georgian Colonial (1941). Sold: $1,262,000. Listed at $1,200,000. Living area: 3,442 sq.-ft. 11 rooms, 5 bedrooms, 3.5 bath. On the market: 69 days.

• 226 Trapelo Rd., #1. Condominum (1922). Sold: $461,000. Listed at $439,000. Living area: 1,334 sq.-ft. 6 rooms, 2 bedrooms, 1 baths. On the market: 91 days.

• 56 Marlboro St. Two-family (1913). Sold: $880,000. Listed at $799,000. Living area: 2,720 sq.-ft. 14 rooms, 5 bedrooms, 3 bath. On the market: 48 days.

Finally. The spring selling season has arrived this past week in Belmont with nine houses being bought with three interesting facts:

  • the properties sold quickly, most within just about two months after going on the market,
  • the final sale price for all but one property beat the initial listing price, and
  • condominiums led the rush of sales. 

Also interesting to see a fairly modest, Depression-era Colonial (OK, it does have a two-car garage) on Locust Street (near the Burbank on a rare cul-de-sac  in Belmont) selling for a million dollars plus. Is Belmont, Massachusetts beginning to emulate Belmont, California where the median price of homes is currently north of a million dollars? This is what a median-valued house in Belmont Left Coast will get you. (Note the square footage; pretty cramped for shelling out seven figures.)

Selectmen OK Woodfall Road Purchase And Sale, $1.75M Price Tag

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Photo: Woodfall Road site.

The Belmont Board of Selectmen approved a purchase and sale agreement for the purchase of town-owned property at the end of Woodfall Road to a Lexington developer for $1,750,000.

Dani Chedid of Lexington’s Phoenix Construction Group will now begin the formal process of purchasing the 5.25 acre parcel adjacent to the Belmont Country Club and in the Hillcrest neighborhood on the west side of Belmont Hill, said Sami Baghdady, chair of the Selectmen at its meeting Thursday, May 28.

Chedid, the lead of a three-person group, outbid Northland Residential of Burlington (which constructed the The Woodlands at Belmont Hill) by nearly $1.5 million in December 2013 to begin working with the town on a final price tag for the property that will be home to four luxury single-family homes. 

Seventeen months ago, Chedid offered $2.2 million of the site. Since then, the town – through Town Administrator David Kale’s office – and contractor have been negotiating a final price for the land after a long due diligence process that included environmental assessments, soil testing, monitoring wetland requirements and, at one point, discussions with the country club on the likelihood of golf balls flying onto the new homes, said Baghdady.

“Woodfall Road is a different site since the request for proposal,” said Baghdady, referring to the nearly half-a-million dollar reduction in the original offer. 

“Yet even now, it’s a much better award than the $750,000 [Northland] offered,” he said.

The P&S now requires the town to present a “clean” title and for a state environmental test to be conducted. In addition, Chedid will go before the Belmont Conservation Commission to request a “side” order to allow some relief to build on one of the four lots due to wetland concerns.

A final purchase of the land, which has been on the market for more than a decade, should occur in the next two to three months, said Baghdady.