Investing in America: A batch of 10 one and two-bedroom apartments in Cambridge, Massachusetts, goes on sale from plans today with Wyse Estate Agents. Entitled One 1st, the new scheme will be a pleasant walk from Boston city across the Charles River.
Prices from $440,000 (€363,105) buys a 69sq m (742sq ft) one-bedroom unit. Two-bedroom apartments of 107sq m (1,153sq ft) start at $663,000 (€547,139). Should any Irish buyer express a preference for something in the $1 million dollar plus ( range, Ed Dempsey of Wyse will be happy to supply this.
One 1st is in East Cambridge, with the Lechmere Green Line MBTA station a few paces from the site. The project is by Leggat McCall and ING Real Estate, both of whom have a strong stateside track record in construction and finance.
A total of 199 apartments are planned for the five One 1st buildings, which are targeted for completion in summer 2006. The development is being built on the site of old brick industrial buildings and some of this heritage will be woven into the new facade. High ceilings will be part of that legacy.
Other standard features at One 1st will include a full range of kitchen appliances and cherry units with granite worktops.
Marble and ceramic tiling is planned for bathrooms. Flooring throughout will be either cherrywood or carpeted. A landscaped courtyard garden with a water feature will be for residents' use.
Typically, apartments are rented unfurnished in the US, say Wyse, which has arranged a management company to collect rents and look after day-to-day issues for overseas buyers. One-bedroom units could expect to get $2,000 per month (€1,653) and two-beds should fetch $2,7000 (€2,231) monthly.
www.onefirst.com
