As an expert on Boston luxury real estate, Michael Carucci was invited to NECN recently to talk with Mike Nikitas about what buyers are looking for when it comes to buying in Boston. Here are some highlights of their conversation.
- Carucci noted a trend in families choosing Boston over the suburbs as evidenced by the early success he has seen in projects like Millennium Tower and the new Four Seasons at One Dalton. Michael says that many of his clients choose Boston over other communities because they can live-work-play all within the boundaries of a city with robust historical, cultural and entertainment offerings.
- Per square footage prices for luxury real estate in Boston are about $1500-$2000/per square foot. Carucci shared data on a recent Four Seasons closing at $2800/per square foot.
- Michael shared information on which markets oversees are investing heavily in Boston, including parts of Asia.
- "We like to say our job begins once the property closes." Carucci went on to explain the work he and his team members offer to clients even beyond the closing table.
- Carucci also shared his blueprint to selling luxury real estate. He says For Sale signs and Open Houses are unusual in the high end market, because what really works is his targeted marketing platform that works to locate the appropriate buyer for each property through his relocation and international network of affluent clients.