Whatever the incentives now being offered by landlords, the Hub's rental market remains tighter than a snare drum. Sometimes it's difficult to really conceptualize just how tight it is, until something like 381 Congress Street comes along. Developer Berkeley Investments of Boston finished a $16.5 million refurbishment of the building in November, creating 44 loft-style apartments (as well as space for the Row 34 restaurant) in the one-time steel distribution depot.
Apartments went up for lease, with studios asking from $2,000 to $2,400 a month and one-bedrooms asking $2,200 to $3,200. The building, not even a month after renovations ceased, is now more than 90 percent leased. In fact, the first tenants have already moved in to 381 Congress, enjoying its common roof deck, bike racks and pet-friendliness. Now that is fast, even for Boston these days.
· Website: 381 Congress Street [Berkeley]
· Where to Rent in Greater Boston Right Now [Curbed Boston]
· The Hub's Real-Time Apartment Vacancy Rate [Curbed Boston]