Real Estate

Either-Or: A Beacon Hill Carriage House vs. a Three-Family in Providence

It’s amazing what a few miles will do to the market. This month, we compare two properties with a past: a cozy Boston condo and a sprawling space in PVD.

courtesy of boston rep (boston); courtesy of residential properties ltd. (providence)

40 Joy Street, #5, Boston Sale Price: $995,000 140 South Street, Providence, Rhode Island
$1,099,000
86
1,000 square feet
2
1.5
Asking Price
Days on Market
Size
Bedrooms
Bathrooms
$995,000
217
5,019 square feet
4
3.5

In New England, all sorts of buildings find second lives as one-of-a-kind private residences. Take this Beacon Hill condo carved from a 19th-century carriage house. For all the history within its walls, the home recently sold for $104,000 under asking price—perhaps because the two-bedroom, complete with bay windows and custom built-in cabinets, measures a mere 1,000 square feet.

Meanwhile in Providence’s Jewelry District, a property five times the size of the Boston condo sold for the same price, though it lingered on the market for more than twice as long. Constructed in 1948 as a home for the Jonette Jewelry Company, the unassuming brick building conceals three snazzy lofts, one with an oversize fireplace and an industrial chef’s kitchen. The whole package sold for just $198 per square foot—and if that wasn’t enough of a deal, the building’s new owner can reside in one unit, then rake in rental income from the others.