Chinatown - Leather District - 02111
Housing in Chinatown – Leather District
The neighborhood of Chinatown is more than just a bunch of restaurants serving Chinese food! This neighborhood, situated on the southern edge of Downtown, includes more than a few streets where Asians have settled or have created businesses devoted to those interested in Asian food, culture, or business activities. This geographic area encompasses two other distinct districts: the Leather District and the Theater District. Consequently, the neighborhood of Chinatown is a bustling hub of commercial and cultural activity both for our Chinese community as well as for all other residents of any origin or ethnicity.
The Leather District is a small sub-neighborhood just east of Chinatown, nestled between Dewey Square and Kneeland Street. These nine distinct blocks are noted for their 19th century brick warehouse structures. Understandably, you will not find any single-family homes in the area, but you can find lofts and condominiums to buy or lease. If you should decide to buy or lease in Chinatown, you will surely be in the center of the hustle and bustle of city life! Fortunately, the city is vibrant and constantly in motion. There are corner stores, retail stores, and grocery stores all within walking distance along with restaurants of all kinds.
Several cities like San Francisco have well-known “Chinatown” areas within their cities which typically refer to an area a half a dozen or so square blocks of mostly Asian stores, restaurants and residences. Since Boston’s Chinatown neighborhood encompasses a much larger area of non-Asian businesses and restaurants, etc., you might hear this area called Mid-Town. Housing in this area consists mainly of condominiums. They might be small, pied-à-terre units with less than 500 square feet of living space or a larger penthouse with over 4,000 square feet. Pricing for housing has been running from $250,000 to $3,000,000 while rentals range from $1,900 to $5,800. Naturally, price depends upon size, location, and amenities.
The following chart is a visual representation of the cyclical nature of real estate and compares the ups and downs of the neighborhood of Chinatown to those of the entire city of Boston. The taller the column the better it is for buyers. The shorter the column the better it is for sellers. Hence 2010 was the best time for a buyer to buy in Chinatown. On the other hand, 2013-2015 were great years for sellers.
This next chart shows the number of sales occurring in Chinatown – Leather District month-to-month, year-to-year since 2018 and provides you a historical overview of the best times to sell – months with the greatest number of sales (spring and fall) – and the best times to buy – months with the fewest number of sales (summer and winter). CAVEAT: there are usually more homes to choose from in the first half of the year.
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