30 Dalton St. Residences | Back Bay

12345 said:
How Boston’s newest luxury tower attracts renters to $30,000-per-month penthouses




http://realestate.boston.com/new-developments/2016/08/15/30-dalton-tower-uber-luxury-rents/
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Yeah, my friend who worked on it was telling me the other day that they are putting the finishing touches on the pent houses. Neither of us could figure out who (or why) someone would want to drop 30k a month in rent - at that point it seems like buying would be a much, much better idea (for a person or corporate accommodation). Best I could think of would be a company doing it as an executive rental kind of deal - but even then it doesn't seem to make that much sense.
 
^ maybe it's geared toward the short-term market? High-roller needs to be in boston for a few months for whatever reason, but too short to deal with the paperwork of buying? Maybe the developers/landlords are more tolerant of short term arrangements for these types of places?
 
bakgwailo said:
Yeah, my friend who worked on it was telling me the other day that they are putting the finishing touches on the pent houses. Neither of us could figure out who (or why) someone would want to drop 30k a month in rent - at that point it seems like buying would be a much, much better idea (for a person or corporate accommodation). Best I could think of would be a company doing it as an executive rental kind of deal - but even then it doesn't seem to make that much sense.
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Older people on fixed incomes.
 
bigpicture7 said:
^ maybe it's geared toward the short-term market? High-roller needs to be in boston for a few months for whatever reason, but too short to deal with the paperwork of buying? Maybe the developers/landlords are more tolerant of short term arrangements for these types of places?
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I suppose. I guess I am really wondering how many $30k a month apartments Boston can actually sustain - just seems like it would be a much smaller market than say $30+ Million condos. It is apparently pretty big though spanning two floors, and the amnesties (roof deck/gym/etc) are supposed to be nice.
 
The article specifically mentioned they were looking at people waiting for units in the Four Seasons tower as potential renters so I would say short term tenants is definitely something they are interested in.
 
citylover94 said:
The article specifically mentioned they were looking at people waiting for units in the Four Seasons tower as potential renters so I would say short term tenants is definitely something they are interested in.
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Also, empty nesters moving into the city for the first time from the burbs often want to rent for a year before buying. They want to make sure they really want to live in the city.
 
bakgwailo said:
I suppose. I guess I am really wondering how many $30k a month apartments Boston can actually sustain - just seems like it would be a much smaller market than say $30+ Million condos. It is apparently pretty big though spanning two floors, and the amnesties (roof deck/gym/etc) are supposed to be nice.
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Well - I think it is a two part question. I would bet very very few born and raised Bostonians with the means to afford that would actually rent it at that rate vs buying an asset. The second part is that with the elite schools and hospitals, Boston attracks for short term periods some of the wealthiest people on earth at a rate much higher than a lot of other cities...I could be wrong but dang would ut be interesting to find out who snaps these up.
 
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Not exciting -- but a nice infill building in the vicinity of the Hilton and Sheraton
 
I always welcome some new dark glass. Its fill, no complaints here. Is this the color 1 dalton will be as well? For anyone who has seen the sampler in person.
 
If the demand is there - with the rental prices they're asking - why didn't they build this twice as tall?
 
dotdude78 said:
If the demand is there - with the rental prices they're asking - why didn't they build this twice as tall?
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Dotdude -- that's what the next building is all about -- both 1 and 30 Dalton are by the same developer and part of the same development project
 
"both 1 and 30 Dalton are by the same developer"

Not True. Separate developers.
 
MotoBuilder said:
"both 1 and 30 Dalton are by the same developer"

Not True. Separate developers.
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MotoBuilder -- unless something changed since 2013 its the Carpenter Co.

from a Herald Article when the deal was announced in January 2013
Christian Science Church picks developer for tower projects
Herald Staff Wednesday, January 23, 2013

The Christian Science Church plans two towers with a hotel, condos, apartments and retail along Belvidere and Dalton streets in Boston's Back Bay. A third tower on Huntington Avenue will be added later.

Cambridge developer Carpenter & Co. will build two towers next to the Christian Science Plaza in Boston’s Back Bay neighborhood.

The church said today it tapped the company as the master developer for the pair of sites on Belvidere and Dalton streets across from the Hilton and Sheraton hotels.

A planned 50-story tower will house a hotel and condos, while an adjacent 20-story building will be filled with apartments.
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around the same time another developer agreed to do the "midrise" or "westerly" portion as described in the approved masterplan: A well-known Chicago firm.
 
MotoBuilder said:
around the same time another developer agreed to do the "midrise" or "westerly" portion as described in the approved masterplan: A well-known Chicago firm.
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MotoBuilder that would be Pritzker -- I stand corrected on this one

However, the main point still is valid -- once the two towers were scaled in the Master Plan -- there weren't going to be two competing towers by competing developers and competing architects -- -- just one big one and one much smaller one
 
stick n move said:
I always welcome some new dark glass. Its fill, no complaints here. Is this the color 1 dalton will be as well? For anyone who has seen the sampler in person.
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In person, I would say yes. I commented on this on the 1 Dalton thread, but yes. Black.
 
John0101 said:
I can see the building from my apartment. It looks pretty deserted.

According to a recent Boston Herald piece, 6% of the building has been leased, including one of the penthouse.

http://www.bostonherald.com/business/real_estate/2016/09/hot_property_lap_of_luxury_sits_in_back_bay

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Buddy said much the same - current residents get pretty much the run of the entire building. I think they are still wrapping up some finish work/electrical in some of the units, though, so that might be why its occupancy is still so low.
 
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