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New Developments In Provincetown. The Near West End

There is a lot of building activity this fall in town, not only home renovations all over town but great substantial developments. In the next few weeks I will review my favorite new developments in different neighborhoods. Starting in the near West End there are three great projects done or nearing completion. We have shown many of these condos to our buyers and they are all unique in their own way and offer terrific options and amenities. My repeated caveat that much of the descriptive copy is direct from MLS.

4 Race Road is one of my favorites as the floor plans are unique and the finishes are very nice. Unit #3 the first floor 2 bedroom unit rambles along with a separate living room, a great dining room/kitchen and then down a lovely gallery hallway are two bedrooms with their own full baths.  4 Race Road #3, $659K, 2bed/3bath, 1,170 square feet.  This first floor unit is the perfect mix of historic detail and modern conveniences. Enter through the double front doors into the light-filled living room w/hardwood floors and oversized 2/2 windows. Seperate kitchen/dining with white cabinetry, top-of-the-line stainless appliances and granite counters. 1/2 bath. Two good-sized bedrooms, each with their own en-suite bath w/custom tiles. 2 car parking on Carnes Lane. Exclusive use yard area in front and along east side of house.

 

 

The PH is just wonderful.  One of the most unique condo offerings in town with it’s multiple decks and amazing light. 4 Race Road #4  1 bed/3 baths, 1,080 square feet, $649K, is nearing completion. Located on top two floors of 4 Race Road, the first floor of the unit has a living room, eat-in kitchen, 1.5 baths and a glorious sun room that opens onto a south-facing deck. Upstairs is a large bedroom with private deck, and an en-suite bath containing a separate tub & shower and double sinks. A very special unit with of 1080 s.f. plus 300+ s.f. of decks. Exclusive use yard space and two car tandem parking on west side of building.

64 Franklin Street #F. 3 bed/2 bath, 1,080 square feet, $654,900. This is a completely renovated three bedroom penthouse in Provincetown’s west end. Nearing completion this unit with vaulted ceiling, skylight, open kitchen, dining and living area offers great light and air. The kitchen offer lots of work space, stained cabinets, solid surface counters, stainless appliances and island for added dining. The master bedroom has its own bath with tiled shower for two. There are two guestrooms which share the second bath also with tiled shower. A large exclusive use deck off the living room is great for outdoor entertaining. Additional features include: air conditioning, gas fireplace, crown molding, cottage style 5-panel interior doors, oak floors, separate in-unit laundry room, basement storage, and parking for 2 cars. One year warranty included.

64 Franklin #E, $639K, 3 bed/2 bath, 1,080 square feet. This 3-bedroom, 2-bath unit open kitchen, dining and living area offers great entertaining space. The spacious kitchen has lots of work space, stained cabinets, solid surface counters, stainless appliances and island for added dining. The master bedroom has its own bath with tiled shower for two. There are two guestrooms which share the second bath also with tiled shower. Plenty of options for outdoor use with exclusive mahogany decked porch, side bricked patio and large yard. Additional features include: air conditioning, gas fireplace, crown molding, cottage style 5-panel interior doors, oak floors, separate in-unit laundry room, basement storage, and parking for 2 cars. 1 year warranty included.  #D is available too 2/2 $639K, 830 sf

50 Pleasant Street #1, 3 bed/4 bath, 1,600 square fee. $829K. Brand new construction in the West End! Own one of only two units on a beautifully wooded lot. Three bedrooms, three and a half baths, townhome style living with a full finished basement. Oak flooring, granite counters, stainless appliances, gas fireplace, central air, exclusive use outside space. The unit is accompanied by a separate garage space and artist studio above. Completion date approximately late October

 

 

 

 

50 Pleasant St #2, $810K, 2 bed/4 bath, 1,276 square feeet.  Own one of only two units on a beautifully wooded lot. Two bedrooms, three and a half baths, townhome style living with a full finished basement. Oak flooring, granite counters, stainless appliances, gas fireplace, central air, exclusive use outside space. The unit is accompanied by a separate garage space and artist studio above. Completion date approximately late October

Illustrating the continuing strength of the market both of these condos at 50 Pleasant are under contract.

 

Next week I will focus on developments farther into the West End out towards the beach.

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My Favorite 3 Bedroom Condos in Provincetown

There are some great 3 bedroom condos on the market in Provincetown. They are big, have lots of room for family and friends, are in great locations, and are super investment opportunities.  These can rent for anywhere from $3000 to $6000 a week in season. There can even be a positive cap rate investment argument made for a few of these.  Where else but in Provincetown can you find that?

There are 17- 3 bedroom  condos available for sale with an average asking price of $759K, and an average size of 1,436 square feet. I have highlighted my favorites below including the best value on the west end and east end, the best new construction value, and the best waterfront value.

My ever present caveat remains… I have lifted descriptive copy from the MLS and am not responsible for spelling or grammatical shortcomings..but do enjoy.

15 Cottage Street #9

Best West End Value. 15 Cottage Street #9, 3/2, 1,710 sf, $599K. Prime West End location combining incredible resort-like living, great entertainment space and exceptional rental income. This is a 3 bedroom/2 full bath residence. The Master bedroom has a large patio overlooking the landscaped gardens, a comfy sitting area and a luxurious master bath. The 2nd bedroom looks onto the gardens through a bay window. The 3rd bedroom overlooks the pool and has a large hollywood bath. Entertainment size eat-in chefs kitchen with gas cooking, Bosh D/W, wine cooler granite countertops and a large breakfast bar. Large separate DR easily seats 10. Large LR with game area and frplc overlooks in-ground heated swimming pool. Spacious and luxurious, with every indoor/outdoor activity at your doorstep.

 

 

 

480 Commercial St # 2

Best East End Value. 480 Commercial St #2. $655K, 3/2, 1,225 sf. This meticulously maintained top floor condominium offers water views and deeded beach rights. Just steps from the Gallery District, this recently renovated home features three generous sized bedrooms, two full bathrooms, and open concept living. This antique home gives you close proximity to downtown but the quiet allure of the East End. There is exclusive use deck as well as a common porch overlooking lush, manicured gardens. There is parking for two cars plus guest parking. Water views, deeded beach rights, three bedrooms, 1,225 square feet of living space and $30k plus in rental income – what’s not to love

 

 

 

577 Commercial St #3E

Best Waterfront Value. 577 Commercial Street #3E. 3/2 1,200 square feet, $739K. Best Provincetown 3 BR waterfront value – just over $600/sq.ft.! Live right on the beach in this relaxed, casual/ modern 1200 sf East End duplex condominium on the top 2 floors of a historic building. Enjoy views of PT, Long Point Lighthouse, Pilgrim Monument & Truro. First level: Living/Dining/Kitchen combination, private deck w/ outdoor dining. Fully equipped Kitchen, DW, 2 private BR’s with double captain bed ea. , 1 full bath with tub/shower off LR. Upper level: Open loft MBR suite(semi-open to LR below) with vaulted ceilings, ceiling fans Skylights, king bed, full bath with stall shower, sitting ‘hang out’ area and private deck.

 

 

21 Bradford St Ext #16

Most Luxurious new construction. . 21 Bradford Street Ext #16, 3/4, 2,160 sf, $1.399M.Introducing the brand new, top of the line, model unit for Phase II of Herring Cove Village, the West End’s most luxurious condominium, boasting countless amenities.These spacious free standing homes are built with entertaining in mind. The oversized chef’s kitchen is the hub of the floorplan,& features custom cabinetry, Thermador appliances, large custom center island, a contemporary gas fireplace, and conversation area. Bluestone patio & large exclusive yard. There are beautiful dark stained maple floors and 9 foot+ ceilings. The master suite has a walk in closet and a double sided fireplace between the bedroom and large marble bath. The other 2 BR have ensuite baths. Enjoy water views from the roof deck

 

 

 

There are many other 3 bedroom condos available and 51- 3 bedroom (or more) single family homes available which I will review in a future post.

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analytics general info

The Goode and Farmer Report – Provincetown 1Q2012

The Provincetown market has been relatively stable year over year especially in the context of regional and national volatility being experienced in most markets.

First quarter figures for the Provincetown market are in and are great!  As in Boston the mild winter weather has kept buyers and sellers in the market and sales activity has been very strong. Keep in mind that the first quarter numbers in most markets in the northeast don’t show huge numbers so sampling is relatively small, but when compared with the first quarter last year  condo sales have increased by 40% to 28 properties and single family sales increased 71% from 7 to 12 properties in the first quarter. Not huge numbers but a positive indicator of interest and activity in Provincetown real estate

The average selling price of those condos sold was $405K, up 29% from last years average of $314K. On average it took 262 days to sell these properties, exactly what it took last year. The lowest selling price was $141K and the highest was $829K which was a beautiful 1754 square foot 2 bedroom, 2 bath penthouse in the East End on Commercial Street. (pic to left)

 

 

 

The average selling price of single family homes increased 6% to $807K from $762K     in 2011. Single family  home sales almost doubled from 7 to 12 sales in the first quarter. The lowest selling price was $212,500 for a sweet little  fixer upper home at 217 Bradford Street, and the highest selling price was $1.8M for a fabulous 4 bedroom waterfront home in the far East End on Winston Ave. (pic to left) There were no multi family properties sold in the first quarter.

 

 

There are currently 129 condominiums for sale with an average asking price of $447K. There are 55 single family homes for sale with an average asking price of $1,472K and 14 multi family homes for sale with an average asking price of $1,356K. These figures represent a terrific range of buying opportunities. Inventory is at a fairly balanced level and not necessarily weighted toward a buyers market or sellers market.

As the Outer Cape and Provincetown readies itself for the spring onslaught, meant in a very positive way… we will keep you posted week to week as to real estate activity of interest in Provincetown and on the Outer Cape.