Boston Common - Niche Media - A side of Boston that's anything but common.
Issue link: http://www.ifoldsflip.com/i/498400
photography by bryce Vickmark (campion and curlett); Jim abts (73 ox bow); courtesy of campion and company (56 beacon) from left: The entryway of 56 Beacon Street, one of Campion's properties; Lisa Curlett and Tracy Campion; Curlett's listing at 73 Ox Bow Road in Weston. Tracy Campion and Lisa Curlett are so successful at selling luxury homes, they could probably afford to buy a small island in the Caribbean. Or a city block in Paris. Which would it be? Alas, they could never agree. Campion is hopelessly devoted to the city, while Curlett is all about land, land, land. As the number-one-ranked broker in the state, Campion oversees nearly $2 billion in sales (her firm, Campion and Company, grossed more than $450 million in 2014). The Brown- and Columbia-educated Curlett is a top-tier producer at Pinnacle Residential Properties; she focuses on high-end homes primarily in Weston and Wellesley, where the median home price is over $1 million. Boston Common met with them at the Fairmont Copley Plaza's Oak Long Bar Kitchen to take the pulse of their markets and find out what home buyers in the $5 million to $10 million range can expect. What is the state of the luxury real estate market? Tracy Campion: Boston's luxury market is strong, with an average sales price of just under $1 million, up 11.36 percent. Lisa Curlett: 2015 is already up 240 percent in total market volume perspective. What is the difference between a $5 million and $10 million buyer? TC: The $5 million buyer has a wider range of properties. The $10 million buyer has fewer to choose from and is more often searching for a trophy home in the city. LC: The $5 million and $10 million home buyer aren't that different in terms of what they want. Their net worth might be the same, but the $5 million buyer is investing less capital in his home and diversifying into other investments—a vacation home, boat, private airplane, etc. What are the aspirations of luxury buyers? LC: Although luxury buyers [in Weston and Wellesley] often want to make an impression with their homes and generally buy new construction, they also put a premium on privacy, seeking more than seven acres on average. They want luxury features like a tennis court, swimming pool, gym, media room, spalike amenities, a three-car garage at mini- mum, and, on average, six bedrooms, seven full baths, and four half-baths. TC: Luxury buyers in the city look for all the white- glove services and lifestyle amenities. They want turnkey, all on one level with views, elevator access, garage parking, and of course the right address. What can buyers expect at the high end of $10 million? TC: For $10 million, you can get some beautiful city properties. A buyer can expect an entire townhouse, penthouse, or brownstone. LC: Although they don't want to lose money, residen- tial home buyers are not necessarily approaching their home purchase as an investment. Of course, they'll make sure that the home doesn't have significant resale issues—it's not on a busy street, doesn't have wetland issues—and is in a town that has consistently increased in value at the high end, like Brookline, Chestnut Hill, Weston, or Wellesley. But this is the home where their family will happily live and build memories. Tracy Campion, Campion and Company, 172 Newbury St., 617-236-0711; campionre.com. Lisa Curlett, Pinnacle Residential Properties, 555 Washington St., Wellesley, 781-267-2844; pinnacle houses.com BC City vs. Country Mouse CAN'T DECIDE BETWEEN A BACK BAY PENTHOUSE OR A WESTON ESTATE? TWO TOP REALTORS WEIGH IN ON THE OPTIONS. by lisa pierpont 122 bostoncommon-magazine.com haute property Brokers' roundtable