Hyatt Place/Ora Seaport (née Parcel K) | 315 Northern Avenue | Seaport

[393b40]

Looking at these pics, Ora is a rental success. Almost every unit on this side seems occupied.

There's still some units unoccupied I believe. I talked to a leasing agent a week or two ago about a studio or 1 bedroom (they're pricey)

 

[dshoost88]

At buildings this large (i.e. north of 100 units), they are priced in such a way to almost always guarantee 3-5% vacancy. And the nature of people's work habits and life changes means you can anticipate turnover routinely. To Atlantaden's point, I agree: Ora appears to be a rental success. But in a housing-starved market like Boston, this is hardly a surprise. All Seaport rental buildings--all Greater Boston rental buildings--typically reach 90+% occupancy within 12-18 months of opening. And the new condominiums sell just as quickly.

Now if we could just get every neighborhood citywide to build 2 Ora's annually for the foreseeable future, we may finally watch our housing prices stabilize! It's the only feasible way to keep pace with the addition of jobs to the region over the same time frame.

 

[AmericanFolkLegend]

At buildings this large (i.e. north of 100 units), they are priced in such a way to almost always guarantee 3-5% vacancy.

This is true in a lot of industries. If your show sells out every night it doesn't mean you have a good show. It means your tickets are too cheap.

 

[jl326]

Looking at these pics, Ora is a rental success. Almost every unit on this side seems occupied.

Perhaps I shouldn't be, but I just looked at the pricing.. it's nuts! This coming from someone living in the area for the last almost 11yrs.

 

[atlantaden]