Home News Boston Is a Budding Luxury Housing Hotspot, Says Local Broker

Boston Is a Budding Luxury Housing Hotspot, Says Local Broker

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When it comes to luxury real estate, Boston isn’t the first city that comes to mind. But according to George Sarkis, that’s changing rapidly with the help of some new developments.

He and his team of Douglas Elliman agents boston heads up one of the city’s hottest luxury projects, The Parker.

Serkis, who works with his brother Manny Serkis, said Boston’s luxury market is booming.For example, Parker offers turnkey condominium With bespoke furniture for each unit, Gronk Fitness, a firm founded by retired NFL star Rob Gronkowski, designs the building’s fitness center. Penthouse sales will begin this fall.

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Mr. Sarkis has been involved in the sale and marketing of luxury real estate throughout the Boston area for over ten years. Many of his contacts have been gleaned from his previous career in the world of nightlife and entertainment. He has since worked with major Boston sports moguls and high-profile properties, including Celtics center Aron Baynes, Mr. Gronkowski, and Reebok founder Paul Fireman.

Serkis told Mansion Global about what’s driving Boston’s luxury market, The Parker, and why fireplaces are the ultimate luxury item.

Mansion Global: Why is Boston so exciting now when it comes to luxury real estate?

George Serkis: It all comes down to supply and demand. Not enough supply. there is a lot of demand. Boston has always been a strong and resilient market due to the fundamentals of education, the best colleges in the country and the world being here. There is currently a big wave in the fields of technology and health sciences. MIT and Harvard students are graduating and staying in the city. there is a company hoop, a fitness wristband company, has just opened its headquarters in Boston with 1,500 employees. We also have DataDog, ZoomInfo, and other tech companies with employees who need places to live. These companies are thriving, so there are a lot of people making $250,000 a year. They are looking to buy or rent, which drives the market. Moderna and Pfizer are also in our backyard.

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MG: What are your favorite neighborhoods in Boston for luxury living?

GS: South Boston is known as the upscale market, or ‘Southie’. This is an area for young professionals. Then there’s Back Bay, for CEOs and ultra-wealthy people in need of brownstones. There are also luxurious, full-service buildings like the Four Seasons Residences on Dalton Street and the Mandarin Oriental Residences on Back His Bay.

MG: Is it just alumni, or are there wealthy residents who moved to Boston from other states?

GS: Yes, many come from California for their education. They want to come here for the stability and education of their children because private schools have some of the best private and special education schools.client [are coming] Florida and California have the most.

MG: Are you currently working on a gorgeous building in Boston called The Parker?

GS: Yes, we have 168 residential units of studio, one and two bedrooms. It’s a modern contemporary old world design. Amenities include a home theater, lounge, billiards room, gym, Gronk Fitness, and a rooftop terrace called The Vue.

MG: What is your own definition of luxury?

GS: A lot of people talk about luxury, but it’s not luxury. My definition is service and finishing. When you’re in a luxury building, you want a 24-hour concierge to greet you and all the convenient amenities. It all comes down to convenience, service and finish.

MG: What is the most luxurious room in your house?

GS: my wonderful room. With vaulted ceilings, the house has beams and a two-sided fireplace surrounded by stone. I go through a lot of trees, I’m a fireplace man. Luxurious and spacious with windows all around.

MG: You and your brother Manny work very closely together. why is that?

GS: no choice [laughs]He has always been my role model. He has an accounting background and worked for PricewaterhouseCoopers. He’s a numbers expert and I’m a marketing, sales, and creative expert. So it’s a good mix.

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MG: What luxury real estate trends will hit the spot in 2023?

GS: The trend I see here in Boston is that developers, designers, and more people in the industry are trying to be very particular about the products they put out there. , was sold at the place. People just want to refurbish and say ‘I’ll change this or that’ but because of the inflation cost people don’t want that, they want turnkey. The developers really do research to cater to the audience and never miss a beat when it comes to design and functionality.

This interview has been edited for length and clarity.

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