Even in the high-priced real estate market that is Boston’s, it might surprise you to hear that there are more than 30 apartments currently for rent over $7,000 per month.

Not surprising is that all of these high-end apartments are located in the Back Bay / Midtown, Beacon Hill, Waterfront, and South End neighborhoods of Boston. (And, one in the North End.)

The most-expensive apartment for rent right now in Boston is a ninth-floor, ~2,600-square foot home in the Residences at the Mandarin Oriental condominium building in the Back Bay, listed at $27,000 per month.

From the MLS listing:

[The Mandarin Oriental] features full time concierge, doorman, spa, gym, valet, all hotel services offered by the 5 star Mandarin hotel, ballroom, 5 star restaurants, attached to the Prudential and Copley Malls. The unit is FULLY FURNISHED, has hardwood floors, huge walk in closets, marble baths, huge foyer, state of the art gourmet kitchen, laundry room, skyline views and much much more …

If you’re interested in looking at high-end apartment rentals, please let me know. I have access to all the listings and can ensure you find the perfect home in Boston.

To find out more, search Boston luxury apartment rentals

The apartment for rent at the Mandarin Oriental is listed with Beth Dickerson of Gibson Sotheby’s International Realty.

After three-plus years of inactivity, downtown Boston developers are poised to begin construction on new apartment complexes that may bring over 3,000 new units to market during the next couple of years.

Although none of these projects have broken ground, if and when they do, they will radically change the housing market in downtown Boston.

If you’re looking for a Boston apartment now versus in three years, please contact me for showings and lists of available properties for rent.

Continue reading: Roundup of Developments Shows Thousands of Apartments on Tap

An apartment in the W Boston Residences has been listed; it is available on March 1st. The rent is $2,750 per month, furnished, $2,575 unfurnished.

Please contact me for complete details and to set up an appointment to view.

From the listing:

Sophisticated furnished W Residences studio boasts bamboo floors, huge windows w/views of the South End and Back Bay, remote shades, custom kitchen w/Bosch appliances & sub-zero fridge, free internet access & heat/hw included.

Free use of “Sweat Fitness Center”, 24-hr concierge, complimentary coffee & treats at your private entrance, dry cleaning, valet & room services, “Market Restaurant”, “W Lounge” & “Bliss Spa”.

Dog ok. No cat. 6 mo. minimum.

I have a one-bedroom apartment available in the South End with a September 1 occupancy date.

Nice, spacious, South End 1-bedroom available September 1st.

Top-floor, unfurnished unit in secure & well-maintained Brownstone on tree-lined street; 5 minute walk to the heart of the South End or Prudential Center and Back Bay.

Close to MBTA (Green Line @ Prudential & Copley, Orange Line @ Back Bay / South End, buses (#39, #43) & expressways, and easy access to Logan Airport.

• Utilities (gas, electricity and hot water) included.
• Kitchen has many cabinets, microwave, full-fridge, 4-burner gas range w/ oven.
• Bath has tub & shower.
• Cable-ready.
• Apartment gets lots sun.

12-month lease, first month’s rent & security deposit (one month rent) required for move-in.

This is a one person occupancy. Non-Smoking. No Pets.

Construction and development continues in Boston.

The Boston Herald and others reported earlier today that a new multi-use project has been approved for a parcel of land near North Station and the TD Garden.

The Massachusetts Department of Transportation has selected Boston-based Trinity Financial to build a Stop & Shop with up to 275 units of luxury housing above the store along the Rose Fitzgerald Kennedy Greenway.

Trinity Financial is the company that developed the Avenir apartment building next door.

According to the Herald, construction on the 12-story, $150 million project could begin as early as next summer.

The demand for high-end apartments in Boston has continued unabated and has led to the construction of many new buildings over the past several years. There are now three Archstone complexes in the Boston Proper area, and new apartments in The Clarendon and Mandarin Oriental buildings, among others. Harborview at the Navy Yard was originally planned as condos but is now a rental building.

Meanwhile, John Drew has revised his Waterside Place mixed-use development to include 234 apartment units, according to the Boston Globe. Meanwhile, Dean Stratouly is continuing with his plans to add 128 units of housing to Park Square in the old Renaissance Charter School.

(Complete list of Boston luxury apartment buildings)

Earlier this week, Reis, Inc., released a report saying that there is only a 6.2 percent apartment vacancy rate in the Boston area, reflecting continued demand. The story was covered in the Boston Globe.

There would be even more high-end apartment complexes if developers hadn’t turned several apartment buildings into condos, including at nearby Strada234 and Museum Towers / The Regatta.

There is a third parcel available on this piece of land, located in the shadow of the Zakim Bridge. I believe an earlier proposal to build a hotel on it is still active.

Plans for these parcels always included buildings – contrary to opinion, they were never supposed to remain as green space.

(The Reis, Inc. data quoted by the Globe is of limited use. The company only includes buildings with over 40 units in its study – there are so few of these buildings that you could count them on two hands.)

When he called me, he told me two things: his budget was from $1,300 to $2,000 and he was only going to be here for twenty-four hours, he was ready to make a decision right away.

He asked me, “Do you think I can find something in that price range?” and I kind of laughed – hell, yeah, I thought, especially since he was only looking for a studio or one-bedroom.

Well, the joke was on me.

We found only six properties (SIX!) in that price range of which four were dumps. The two nice places included a top-floor (seven-stories) studio apartment on Commonwealth Ave for $2,000 and a cute, somewhat spacious studio on the “sunny side” of Beacon Street for $1,650.

I was as surprised as he that we couldn’t find more of a selection in the mid-range.

Now the Boston Globe is out with an article stating what I just found out – rents in Boston are expensive.

While Boston housing values have dropped in the double digits over the last five years, rents have only dipped and now appear to be rebounding. As a result, prospective tenants looking to sign leases on apartments before the city’s traditional Sept. 1 rush will find high prices and few incentives, real estate brokers and property managers say.

According to an analysis by a rental research firm, Boston is the fourth-most expensive apartment market in the United States.

While vacancy rates have increased during the past several years, inventory is still tight, especially in the Back Bay. Renters have options in several of the new high-rise, “luxury” buildings including Archstone Boston Common and Avenir and NorthPoint but prices there begin at about $2,000 for a studio and over $2,200 for a one-bedroom.

Try swinging that on a young executive’s salary. Doesn’t leave much room for drinks at the Rattlesnake.

It is available June 1, 2010. The rent is $2,250 per month.

Details:

Beautiful condo-quality two-bedroom, two-bathroom apartment for rent. Convenient to JFK-UMASS Red Line T-stop and comes with one off-street parking space. Open floor plan with 1,300+/- square feet of space. South/East exposure in living room with row of windows and access to private front deck. Kitchen stocked with high-end appliances including Fisher and Paykel dishwasher. Master bedroom has master bath with high-end finishes. Full-sized second bedroom w/ access to private back deck.

Photos – click to enlarge images:

More information: Dorchester apartment for rent

From Banker & Tradesman:

Boston Properties Looking To Convert Russia Wharf Residential Units To Rentals
By Paul McMorrow

Boston Properties is preparing to convert the 65 remaining condominium units in its $550 million, mixed-use Russia Wharf development in Boston to rental apartments, sources have indicated to Banker & Tradesman.

The project is now known as “Atlantic Wharf”. Wellington Management is anchor tenant in the building, expected to be completed sometime in 2011.

From the press release:

Boston University Medical Center Receives Approval for Additional Graduate Student Housing

The BRA board granted approval for an amendment to Boston University Medical Center’s Institutional Master Plan to include the creation of the Albany Street Fellows Graduate Housing Project. This project will replace a presently vacant structure and existing surface parking/storage uses with a new residential building and substantial open space that will contribute to the urban design and character of the surrounding area.

Total project cost is $44 million. In addition to BUMC as the developer, the project team includes Beacon Architectural Associates as the project architect and Rubin & Rudman as legal counsel. The project will create 250 construction jobs.

Fallon Towle & Associates is the designated developer of the parcel. Stull and Lee, Inc. is the architect.

If all goes according to plan, the Massachusetts Department of Transportation will give approval today to a devleoper’s proposal for a 78-unit apartment complex to be built to the side of the Rose Kennedy Greenway, near Haymarket, on what is known as Parcel 9.

According to Tom Grillo at the Boston Herald:

State approval will allow “Eastat Realty Capital to build a 78-unit apartment building with a ground-floor produce market on a state-owned lot overlooking the Rose Fitzgerald Kennedy Greenway.

Eastat’s five-story complex on a 29,400-square-foot parcel at the corner of Blackstone and North streets …”

Other ideas previously floated for the space included the Boston History Museum and office / commercial space.

I’m skeptical that people will want to live in that location, but what do I know? Perhaps they can get wealthy people to buy into the idea, I assume the idea isn’t to make the housing “affordable”.

The developer, Eastat Realty Capital, has been involved in other Boston projects include the restoration of what is now the Ames Hotel, build-outs of sections of Faneuil Hall and Fleet Center, and 45 Stuart Street (no idea what this is … the empty lot?).

Renderings of the original proposal courtesy Eastat Realty Capital