Mandarin Oriental | 776 Boylston St | Back Bay

Re: Mandarin Oriental

Oakley said:
Did the MO fill all of it's retail space? I knew Prada was suppose to go into the space, but it didn't.
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No. 2nd floor/Newbury Arcade has vacancies.
 
Re: Mandarin Oriental

Mandarin Oriental is awarded AAA's five diamonds
November 6, 2009 12:49 PM

It's official. The Mandarin Oriental, Boston may be as chi-chi and as elegant as you think it is.

The American Automobile Association said it has conferred its highest rating - five diamonds - on the luxury hotel in Boston's Back Bay neighborhood.

Of the 58,000 hotels, lodgings, restaurants, and other properties that AAA surveyed this year for the latest edition of its AAA TourBook travel guides, only 165 earned five diamonds, AAA public relations manager Heather Hunter said.

"It's for service that exceeds expectations," Hunter said of the five diamonds rating.

The only other Boston hotel to earn five diamonds in the AAA's latest ratings is the Four Seasons; this is the Boston Four Seasons hotel's 22nd straight year of earning five diamonds, Hunter said.

Before awarding five diamonds, AAA dispatches a professional inspector to check into a hotel anonymously and submit a report that is factored into the rating process, Hunter said.

"The five diamond award is a direct reflection of the dedication and outstanding service provided by all our employees at Mandarin Oriental, Boston," Mandarin Oriental, Boston general manager Susanne Hatje said in a statement. " This coveted status is a prestigious accolade and speaks volume about the exceptional commitment our hotel has towards ensuring each and every guest receives an exemplary experience. We look forward to celebrating this highly regarded achievement with our guests, colleagues and the city of Boston in the coming year." (Globe Staff)

http://www.boston.com/business/ticker/2009/11/mandarin_orient_2.html
 
Re: Mandarin Oriental

Rent (out of) control
Mandarin penthouse owner wants $52G a month for digs
By Jerry Kronenberg
Tuesday, November 17, 2009 - Added 9h ago

Call it ?penthouse sweet.?

An unidentified landlord has put a penthouse at Back Bay?s exclusive Mandarin Oriental Residences up for rent at $52,000 a month - apparently the highest price ever for a Hub apartment.

?It?s a project that we did the design and build-out for,? said listing agent Anthony Rich, who declined further comment, saying the condo?s owner ?wants to keep the unit somewhat private.?

Put on the market last Friday, the apartment features four bedrooms, 4 bathrooms and terraces off of every room, according to the unit?s MLS listing. The penthouse also has two fireplaces and two valet parking spaces, the listing shows.

The condo is available immediately, but requires a two-year lease and a $104,000 deposit - one month?s security plus the last month?s rent in advance. You?ll also have to ditch Fido, as pets aren?t allowed.

Realtors who specialize in luxury condos believe the unit?s asking rent is the highest in Boston history.

The previous champ appears to be a Ritz-Carlton Residences penthouse put on the market in 2007 for $30,000 a month and eventually rented for $28,500 monthly.

The Mandarin, an ultra-exclusive condo-and-hotel complex, opened last fall on Boylston Street. The site has about a dozen penthouses, which originally sold for between $2.8 million and $13 million.

Current penthouse owners range from Boston car baron Herb Chambers to ex-Bank of America Chairman Chad Gifford. Red Sox [team stats] owner John Henry is also renting a penthouse while workers construct his planned Brookline mansion.

It wasn?t immediately possible to determine who owns the $52,000-a-month condo, as its MLS listing doesn?t include an apartment number.

But Chambers told the Herald that regardless of which penthouse is up for rent, whoever moves in will love it.

?It?s a fabulous building with great service and the best location in the city,? the car dealer said.
Thomas Grillo contributed to this report.
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http://www.bostonherald.com/busines..._52g_a_month_for_digs/srvc=home&position=also
 
Re: Mandarin Oriental

Suffolk 83 said:
?It?s a fabulous building with great service and the best location in the city,? [Chambers] said.
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An exclusive "Roofs of the Back Bay" view for only $52k/mo? Ha!
 
Re: Mandarin Oriental

$1.248M for the minimum lease requirements not even counting the deposit. Maybe it's just me, but i would rather buy something more modest in say, 45 province, and pocket the change.

then again, if i could afford that lease, i would probably be the type of person that could afford it for several years without feeling a pinch.
 
Re: Mandarin Oriental

Does it ever make sense financially to rent someplace at $52k a month? Couldn't you get a nice penthouse condo for a similar monthly mortgage payment?
 
Re: Mandarin Oriental

Yes, you could buy it. The owner of that unit also has it listed for sale at $16.9 million.

The press is lazy on this one - as far as I can tell, it's easy to see who the owner is. Or, perhaps they were just being respective of his privacy.

[I was wrong with what I wrote, earlier, the effects of not checking my data closely enough. I think I'm right that his unit is the one for sale for $16.9 million but the owner wasn't right.)

If you put 30% down and financed $12 million, that would cost you $72,000 per month for your mortgage loan, add in taxes and condo fees and you'd be up around $90k or so?
 
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Re: Mandarin Oriental

Thank you, some people got a shit load of money.
 
Re: Mandarin Oriental

JohnAKeith said:
Yes, you could buy it. The owner of that unit also has it listed for sale at $16.9 million.

The press is lazy on this one - as far as I can tell, it's easy to see who the owner is. Or, perhaps they were just being respective of his privacy. It's the past-owner of Hasbro, Alan Hassenfeld.

If you put 30% down and financed $12 million, that would cost you $72,000 per month for your mortgage loan, add in taxes and condo fees and you'd be up around $90k or so?
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So in this case, would you think it was better to rent that out and pay the 52k, and invest 30% down payment and 40k a month into some other form of investment every month? I think you would be able to find a better return, but i am not a finance expert.

That is unless you pay cash up front.

Also, if you a renting a condo, then the condo fee's are included in the rent?
 
Re: Mandarin Oriental

I don't know much about investing so I couldn't say. The appeal here is that it's one of a kind and, seriously, probably unlikely to ever lose its premier views. Condo fees and property taxes are almost always included in the rent. With rent, you pay the landlord and you're done, unlike when you buy and continuously have expenses. However, the downside is the landlord can raise the rent at any time and/or decline to renew your lease.

I'd rent this unless my plans were firm for the next thirty years.
 
Re: Mandarin Oriental

Whoops. Sorry, I messed up on that one. Something didn't make sense but I couldn't put my finger on it. So it's Rosenberg not Hassenfeld but it is the one that is on for $16.990, right? The one that was first purchased for $13.089, yes?

BTW, the rental listing has been withdrawn from the MLS after four days. Who knows why - a renter was found? The owner got pissed about the publicity?
 
Re: Mandarin Oriental

JohnAKeith said:
If you put 30% down and financed $12 million, that would cost you $72,000 per month for your mortgage loan, add in taxes and condo fees and you'd be up around $90k or so?
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palindrome said:
So in this case, would you think it was better to rent that out and pay the 52k, and invest 30% down payment and 40k a month into some other form of investment every month? I think you would be able to find a better return, but i am not a finance expert.
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Best scenario:

If you put 10% down and financed $12 million, then defaulted, then got yourself declared a bank, then the Federal Government would pick up the tab.
 
Re: Mandarin Oriental

JohnAKeith said:
Yes, you could buy it. The owner of that unit also has it listed for sale at $16.9 million.

The press is lazy on this one - as far as I can tell, it's easy to see who the owner is. Or, perhaps they were just being respective of his privacy.

[I was wrong with what I wrote, earlier, the effects of not checking my data closely enough. I think I'm right that his unit is the one for sale for $16.9 million but the owner wasn't right.)

If you put 30% down and financed $12 million, that would cost you $72,000 per month for your mortgage loan, add in taxes and condo fees and you'd be up around $90k or so?
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The RC (I think the second one is the RC) has two penthouses with better views) for sale:

http://www.homes.com/listing/97676928/1_Avery_St._BOSTON_MA_02111

http://www.homes.com/listing/94738481/2_Avery_St_BOSTON_MA_02111

Who is David Rosenberg?
 
Re: Mandarin Oriental

rosenberg would be lucky to get $7-8 million as shell. Hard to value buildout
 
Re: Mandarin Oriental

Are the blue fins new, or am I just falling behind? They look good from here:

img3948k.jpg
 
Re: Mandarin Oriental

Not feeling it. Looks cheap and gimmicky.
 
Re: Mandarin Oriental

czsz said:
Not feeling it. Looks cheap and gimmicky.
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As beautiful as the hotel inside is, I wish it had a more dramtic exterior (think Hotel de Paris in Monaco). I don't hate it, but it just lacks that "elegance" that the MO should have.
 
Re: Mandarin Oriental

overall, yes--the building looks cheap, largely due to the brick used. it's been said elsewhere on this thread, but the original cbt design showed the use of stone for the entire facade rather than just the street level, as well as stone balconies and balusters on the top of the building rather than the glass they ultimately used. sticking with the original design would have made a huge difference.

mandarin1.jpg


mandarin-oriental-condos-upper-balconies-exterior1.jpg



that said, the street level is very, very good---miles ahead of the W.
 
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