Any worries that COVID-19 might stifle the real estate market and sales in Charlestown have been put aside when it comes to the newest property on the market in Sullivan Square – a 22-unit condo building at 610 Rutherford Ave. brought to the market this summer by Gray Macletchie that is showing brisk sales since coming to the market this month.
The building is one of only a couple of pioneering residential projects on Sullivan Square – an area now that is still a bit industrial and rough around the edges, but has major plans in the next few years to become a haven of parkland and transportation infrastructure.
Anyone purchasing now in Macletchie’s building would in the future have a front row seat to a large green space and new amenities planned all around the property – and that’s not lost on the sales team, which is led by Charlestown expert Nancy Roth of Gibson Sotheby’s. “It’s tough if you’re not familiar with the area and you see all the traffic now,” she said. “But this area is going to look far different in six or seven years. Everything is going to change.
The rotary is going to change completely and Hood Park is going to have a large green space next door…I feel overall we’re heading in a very good direction in the area of Sullivan Square. This project is a little ahead of its time.” Several buyers have also agreed with her, and the premise of the place. Since putting it on the market – which was supposed to happen in April, but instead got delayed due to COVID-19 – they have had great interest. “We put it on the market June 15 and hoped to have 10 units under agreement by June 30,” she said.
“We’ve had a very good reception thus far. We have 11 of the 19 market-rate units under agreement now and are showing the last penthouse unit.” Developer Gray Macletchie said he has witnessed tremendous change on Sullivan Square over the last 15 years, and he said he’s very proud of the project at 610 Rutherford.
“As an owner of property in Sullivan Square for the last 15 years I have seen a lot of changes in the area, and I’m very proud of the building we built at 610 Rutherford Avenue,” he said. “It’s a beautiful building that brings a modern edge to an area that was once full of old warehouses. It’s been really exciting to be part of the Sullivan Square revitalization. There are more changes to come and I hope that the new owners of these condominiums have an active role in seeing these changes come to fruition.”
Many of the units come in at nearly 700 sq. ft. and under $500,000 with amenities like a community room, parking and a roof deck. That is a great price point, Roth said, for an area that is on the upswing in the coming years – making it a great place to live and a solid investment. The most expensive unit is a 1,209 sq. ft. unit with two bedrooms and two baths, outdoor space and rights to build on the roof if desired. That goes for $849,000 as it is priced now. Roth said condo fees are also very low, with an average of $175 per month.
She said she is seeing local people from Charlestown, Somerville and East Cambridge, and also a very big international interest. “I feel there is a great international clientele here,” she said. “Doing just Charlestown properties for 18 years, I hadn’t seen that as much. I have realized there is that international clientele that is interested in this property.”