Pierce
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PIERCE<br />
TOWER
PIERCE<br />
APARTMENTS<br />
INTRODUCTION<br />
THE BUILDING<br />
LOCATION<br />
DEMOGRAPHICS<br />
FINANCIALS<br />
CONTACT
BOLD AND<br />
BREATHTAKING<br />
With its soaring, panoramic views and walls of shimmering glass, <strong>Pierce</strong><br />
Boston is not only an architectural standout, it is reimagining life in one of the<br />
nation’s most storied cities.<br />
Sculptural interior architecture and carefully curated pieces of artwork draw<br />
inspiration from both the local artists of the area today and distinguished<br />
connoisseurs of the past. Rich, elegant materials and finishes throughout <strong>Pierce</strong>’s<br />
common spaces highlight spectacular views and create a place for those who<br />
desire a space exactly like nothing else.
PIERCE<br />
APARTMENTS<br />
LIVE THE<br />
PLATINUM LIFE<br />
INTRODUCTION<br />
THE BUILDING<br />
LOCATION<br />
As a <strong>Pierce</strong> Boston resident, you will enjoy the platinum services and privilege<br />
of the unfettered access and valuable, complimentary services of Luxury<br />
Attaché. As the nation’s concierge service of choice, Luxury Attaché offers an<br />
unprecedented and customized suite of services that have been designed to<br />
bring you the very best of <strong>Pierce</strong> Boston, the neighborhood, and a well-lived<br />
life.<br />
DEMOGRAPHICS<br />
FINANCIALS<br />
Luxury Attaché provides you with a dedicated <strong>Pierce</strong> Boston Attaché, as well as an<br />
exclusive collection of privileges and benefits, once you sign on to become a<br />
member of the <strong>Pierce</strong> Boston community. When you’re ready to make your<br />
seamless transition into the building starting with turnkey move-in coordination.<br />
CONTACT
PHOTO GALLERY
PIERCE<br />
APARTMENTS<br />
INTRODUCTION<br />
STUDIO & ONE BATH<br />
THE BUILDING<br />
LOCATION<br />
DEMOGRAPHICS<br />
FINANCIALS<br />
CONTACT<br />
STUDIO & ONE BATH
STUDIO & ONE BATH<br />
STUDIO & ONE BATH
PIERCE<br />
APARTMENTS<br />
A THRIVING<br />
WORLD CLASS CITY<br />
INTRODUCTION<br />
THE BUILDING<br />
LOCATION<br />
Just steps from your front door, you’ll meander the length of parks and<br />
waterways linking Boston and Brookline. The Emerald Necklace is the perfect<br />
place to run, walk, bike, or just relax throughout the seasons.MIT and Harvard’s<br />
preeminent halls of higher learning line the banks of the Charles River. Also<br />
close by are BU, Northeastern, and the Mass College of Art and Design.<br />
DEMOGRAPHICS<br />
FINANCIALS<br />
New England’s epicenter of healthcare, Longwood Medical Area, is home to<br />
the acclaimed Dana-Farber Cancer Institute, Brigham and Women’s Hospital,<br />
Boston Children’s Hospital and Harvard Medical School.<br />
CONTACT
$371B<br />
GDP IN BOSTON<br />
1st<br />
IN INCOME<br />
PER CAPITA IN THE<br />
COUNTRY<br />
36M<br />
PASSENGERS<br />
OUT OF LOGAN<br />
MORE THAN 100<br />
LEADING EDUCATIONAL<br />
INSTITUTIONS<br />
16M+<br />
VISITORS TO BOSTON<br />
AND CAMBRIDGE<br />
4.7M<br />
PEOPLE IN GREATER<br />
BOSTON
PIERCE<br />
APARTMENTS<br />
INTRODUCTION<br />
THE BUILDING<br />
LOCATION<br />
DEMOGRAPHICS<br />
FINANCIALS<br />
CONTACT
MANHATTAN DEMOGRAPHICS<br />
ECONOMIC BREAKDOWN<br />
SUBJECT 1 MILE 3 MILES 5 MILES<br />
Household Income $91,000 $98,000 $103,000<br />
Household Expenditures $64,000 $54,000 $51,000<br />
Consumer Spending $100,000,000 $200,000,000 $300,000,000<br />
Average Home Value $515,000 $492,000 $512,000<br />
Unemployment Rate 3.1% 3.7% 3.5%<br />
POPULATION BREAKDOWN<br />
SUBJECT 1 MILE 3 MILES 5 MILES<br />
Population 100,000 200,000 300,000<br />
Population Growth 3.2% 3.1% 2.8%<br />
Ages Under 20 Years 18.24% 27.21% 27.67%<br />
Ages 20-39 Years 35.02% 33.10% 36.32%<br />
Ages 40-50 Years 8.56% 7.62% 7.61%<br />
Ages 50-64 Years 16.36% 12.84% 13.35%<br />
Ages 65+ 8.90% 8.53% 9.13%
PIERCE<br />
APARTMENTS<br />
BROOKLYN<br />
INTRODUCTION<br />
EAST VILLAGE<br />
THE BUILDING<br />
LOCATION<br />
DEMOGRAPHICS<br />
FINANCIALS<br />
CONTACT
FINANCIAL DISTRICT<br />
JERSEY CITY<br />
TRIBECA<br />
GREENWICH VILLAGE<br />
MIDTOWN
PIERCE<br />
APARTMENTS<br />
PROPERTY DETAILS<br />
Price $2,300,000<br />
Number of Units 8<br />
Price Per Unit $287,500<br />
Price Per SqFt $242.36<br />
Gross SqFt 9,490<br />
INTRODUCTION<br />
Lot Size<br />
0.12 Acres<br />
Year Built 2012<br />
THE BUILDING<br />
LOCATION<br />
DEMOGRAPHICS<br />
FINANCIALS<br />
RETURNS<br />
Returns Current Year 1<br />
CAP Rate 5.98% 6.97%<br />
GRM 12.29 10.86<br />
Cash-on-Cash 5.98% 6.97%<br />
CONTACT
OPERATING STATEMENT<br />
Income Current Year 1 Per Unit Per SF<br />
Gross Potential Rent 211,800 211,800 26,475 22.32<br />
Loss/Gain to Lease (24,600) 0 0 0.00<br />
Gross Scheduled Rent 187,200 211,800 26,475 22.32<br />
Physical Vacancy (5,616) 3.0% (6,354) 3.0% (794) 3.0% (0.67) 3.0%<br />
Total Vacancy ($5,616) 3.0% ($6,354) 3.0% ($794) 3.0% ($1) 3.0%<br />
Effective Gross Income $181,584 $205,446 $25,681 $21.65<br />
Income Current Year 1 Per Unit Per SF<br />
Real Estate Taxes 14,380 14,380 1,798 1.52<br />
Insurance 8,000 8,000 1,000 0.84<br />
Utilities - Electric 753 753 94 0.08<br />
Utilities - Water & Sewer 5,807 5,807 726 0.61<br />
Repairs & Maintenance 4,000 4,000 500 0.42<br />
Operating Reserves 2,000 2,000 250 0.21<br />
Management Fee 9,079 (5.0%) 10,272 (5.0%) 1,284 (5.0%) 1.08 (5.0%)<br />
Total Expenses $44,019 $45,212 $5,652 $4.76<br />
Expenses as % of EGI 24.2% 22.0%<br />
Net Operating Income $137,565 $160,234 $20,029 $16.88
PIERCE<br />
TOWER<br />
Greg Williams<br />
Senior Managing Director<br />
Boston Office<br />
Tel: 617-893-6416<br />
Fax: 617-701.4185<br />
arutledge@realestate.com<br />
Andrew Rutledge<br />
Senior Vice President<br />
Boston Office<br />
Tel: 617-893-6416<br />
Fax: 617-701.4185<br />
arutledge@realestate.com
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