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www.bostonherald.com
FRiDAy, ApRiL 15, 2016
BOSTON HERALD
THIS WEEK’S AVERAGE BOSTON AREA MORTGAGE RATES* FIXED RATES
3.58
2.83
30 year
15 year
up .01
up .02
ADjuSTABlES
3.07 5 year
down .14
3.19 7 year
down .02
*FiGURES ARE FoR CoNFoRMiNG RATES WiTH No PoiNTS SoURCE: BANkRATE.CoM
Beacon Hill’s north slope on the rise penthouse dining/living room
Five new luxury condos at two brick rowhouses along South Russell Street on the north slope of Beacon Hill used to be apartments that hadn’t been rented out for 15 years nor renovated in more than half a century. PEG Properties & Design, a developer known for its high-end conversions in Back Bay, the South End and the south slope and flats of Beacon Hill, bought the two late-1800s buildings from the neighboring Museum of African American History last year. “The north slope is ready for its renaissance,” said developer Peter Georgantas, co-principal of PEG Properties. He cites recent sales of nearby Suffolk University and Unitarian Universalist Association Beacon Hill buildings, all of which will become high-end residences. “This property is a continuation of a trend by nonprofits to sell excess real estate in a strong market to fund their programs,” said the Residences at 38 South Russell Street listing agent Richard Hollander of Coldwell Banker Residential Brokerage. The attached Beacon Hill rowhouses create a T-shaped complex, and PEG did a gut renovation of both properties. Condos range from a one-bedroom with 1,075 square feet and a private patio for $1,250,000 to a 2,315-square-foot, threebedroom duplex penthouse with a private roof deck that’s on the market for $2,950,000. Three units have their entrances on South Russell Street and two have access from Smith Court. All come with white oak floors and LED lighting, pre-wired ceiling speakers in the main rooms, Navien
exterior
penthouse kitchen
penthouse spiral staircase STAFF PHoToS By CHiToSE SUzUki
tankless water heaters, Grohe faucets and Nest thermostats. Units do not come with parking, but the developer is working to secure nearby rental spaces. Embarc Studios is the project architect, and PEG co-principal Elizabeth Georgantas designed the stylish interiors. “PEG Properties does contemporary design with cutting-edge materials,” said Hollander. Bathrooms feature striated limestone walls and there’s high-end Germanmade Leicht kitchen cabinets and wardrobes. Gas fireplaces in the living rooms are faced floor-to-ceiling with Neolith, an engineered stone with wood-like graining.
Staged duplex penthouse unit 5 is on floors three and four of 4 Smith Court, and its entry area has a coat closet and a powder room. A large and sunny open living/dining area with 9-foot ceilings has nine windows, many that overlook historic Smith Court and its recently restored African Meeting House. Unit 5’s kitchen features glossy white cabinets above and light brown cabinets below white Caesarstone quartz countertops. There’s a Caesarstone waterfallstyle island with custom pendant lighting. Appliances include a cabinet-enclosed Thermador refrigerator, a Bosch electric induction cooktop, oven and dishwasher. A glass door
penthouse rooftop
of Leicht wardrobe closets. The ensuite bathroom has porcelain tile floors, a wavy white penthouse view quartz double vanity, and a glassfrom the kitchen leads to a doored shower with striated private balcony. limestone walls. The second floor has A full porcelain-tiled baththree bedrooms. The masroom with full-sized Electer bedroom suite has a trolux stacked washer and hardwood-floored bedroom dryer is next to the second with lots of light and unobbedroom. The third bedroom structed views of Beacon is ideal for a nursery. Hill backyards. There’s a wall A spiral staircase from
the fourth floor leads up to a copper-clad headhouse that opens to a private 550-square-foot wood-floored roof deck with great views of Beacon Hill and downtown. Unit 5 also comes with a heated 200-square-foot basement storage room. “We’re creating a new price point for new construction in Beacon Hill with all the bells and whistles,” Peter Georgantas said. “We’re selling for $1 million to $3 million per condo, compared to $3 million to $10 million for similarly finished high-end properties in the neighborhood.” —paul.restuccia@bostonherald.com