Pierce

PIERCE

TOWER

PIERCE

TOWER

INTRODUCTION
DESCRIPTION

MARKET OVERVIEW
D E M O G R A P H I C S
AREA MAP
FINANCIALS
CONTACT

BOLD AND
B R E AT H TA K I N G

With its soaring, panoramic views and walls of shimmering glass, Pierce
Boston is not only an architectural standout, it is reimagining life in one of the
nation’s most storied cities.

Sculptural interior architecture and carefully curated pieces of artwork draw
inspiration from both the local artists of the area today and distinguished
connoisseurs of the past. Rich, elegant materials and finishes throughout Pierce’s
common spaces highlight spectacular views and create a place for those who
desire a space exactly like nothing else.

PIERCE LIVE THE
PLATINUM LIFE
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As a Pierce Boston resident, you will enjoy the platinum services and privilege
INTRODUCTION of the unfettered access and valuable, complimentary services of Luxury
DESCRIPTION Attaché. As the nation’s concierge service of choice, Luxury Attaché offers an
MARKET OVERVIEW unprecedented and customized suite of services that have been designed to
D E M O G R A P H I C S bring you the very best of Pierce Boston, the neighborhood, and a well-lived
life.
AREA MAP
FINANCIALS Luxury Attaché provides you with a dedicated Pierce Boston Attaché, as well as an
exclusive collection of privileges and benefits, once you sign on to become a
CONTACT member of the Pierce Boston community. When you’re ready to make your
seamless transition into the building starting with turnkey move-in coordination.

PHOTO GALLERY

PIERCE A THRIVING
WORLD CLASS CITY
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Just steps from your front door, you’ll meander the length of parks and
INTRODUCTION waterways linking Boston and Brookline. The Emerald Necklace is the perfect
DESCRIPTION place to run, walk, bike, or just relax throughout the seasons.MIT and Harvard’s
MARKET OVERVIEW preeminent halls of higher learning line the banks of the Charles River. Also
D E M O G R A P H I C S close by are BU, Northeastern, and the Mass College of Art and Design.

AREA MAP New England’s epicenter of healthcare, Longwood Medical Area, is home to
FINANCIALS the acclaimed Dana-Farber Cancer Institute, Brigham and Women’s Hospital,
Boston Children’s Hospital and Harvard Medical School.
CONTACT

$371B 1st 36M

GDP IN BOSTON IN INCOME PASSENGERS
PER CAPITA IN THE OUT OF LOGAN

COUNTRY

MORE THAN 100 16M+
LEADING EDUCATIONAL
VISITORS TO BOSTON
INSTITUTIONS
AND CAMBRIDGE

4.7M

PEOPLE IN GREATER
BOSTON

PIERCE

TOWER

INTRODUCTION
DESCRIPTION
MARKET OVERVIEW
D E M O G R A P H I C S

AREA MAP
FINANCIALS

CONTACT

BOSTON DEMOGRAPHICS 1 MILE 3 MILES 5 MILES
$91,000 $98,000 $103,000
ECONOMIC BREAKDOWN $64,000 $54,000 $51,000
$100,000,000 $200,000,000 $300,000,000
SUBJECT $515,000 $492,000 $512,000

Household Income 3.1% 3.7% 3.5%
Household Expenditures
Consumer Spending 1 MILE 3 MILES 5 MILES
Average Home Value 100,000 200,000 300,000
Unemployment Rate
3.2% 3.1% 2.8%
POPULATION BREAKDOWN 18.24% 27.21% 27.67%
35.02% 33.10% 36.32%
SUBJECT 8.56% 7.62% 7.61%
16.36% 12.84% 13.35%
Population 8.90% 8.53% 9.13%
Population Growth
Ages Under 20 Years
Ages 20-39 Years
Ages 40-50 Years
Ages 50-64 Years
Ages 65+

CHARLESTOWN NORTH END

PIERCE CAMBRIDGE

TOWER CHARLES RIVER

INTRODUCTION
DESCRIPTION
MARKET OVERVIEW
D E M O G R A P H I C S

AREA MAP
FINANCIALS

CONTACT

LOGAN AIRPORT SEAPORT

BOSTON COMMON SOUTH BOSTON
SOUTH END
BACK BAY

FENWAY PARK

BACK BAY FENS

PIERCE

BOSTON

PIERCE PROPERTY DETAILS $2,300,000
8
TOWER Price
Number of Units $287,500
INTRODUCTION Price Per Unit $242.36
DESCRIPTION Price Per SqFt
MARKET OVERVIEW Gross SqFt 9,490
D E M O G R A P H I C S Lot Size 0.12 Acres
Year Built
AREA MAP 2012
FINANCIALS RETURNS
Current Year 1
CONTACT Returns 5.98% 6.97%
CAP Rate 12.29 10.86
GRM 5.98% 6.97%
Cash-on-Cash

OPERATING STATEMENT Current Year 1 Per Unit Per SF
211,800 211,800 26,475 22.32
Income (24,600) 0.00
Gross Potential Rent 187,200 0 0 22.32
Loss/Gain to Lease (5,616) 3.0% 211,800 26,475 (0.67) 3.0%
Gross Scheduled Rent ($5,616) 3.0% (6,354) 3.0% (794) 3.0% ($1) 3.0%
Physical Vacancy $181,584 ($6,354) 3.0% ($794) 3.0% $21.65
Total Vacancy $205,446 $25,681
Effective Gross Income Current Per SF
14,380 Year 1 Per Unit 1.52
Income 8,000 14,380 1,798 0.84
Real Estate Taxes 8,000 1,000 0.08
Insurance 753 94 0.61
Utilities - Electric 5,807 753 726 0.42
Utilities - Water & Sewer 4,000 5,807 500 0.21
Repairs & Maintenance 2,000 4,000 250 1.08 (5.0%)
Operating Reserves 9,079 (5.0%) 2,000 $4.76
Management Fee $44,019 10,272 (5.0%) 1,284 (5.0%)
Total Expenses 24.2% $45,212 $5,652 $16.88
Expenses as % of EGI $137,565 22.0%
Net Operating Income $160,234 $20,029

PIERCE

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Greg Williams

Senior Managing Director
Boston Office

Tel: 617-893-6416
Fax: 617-701.4185
[email protected]

Andrew Rutledge

Senior Vice President
Boston Office

Tel: 617-893-6416
Fax: 617-701.4185
[email protected]