Mansions on tiny plots of land near Harvard are selling for whopping prices all because of simple, ordinary perks like living in a walkable city.
A woodsy seven-bed, 6.5-bath mansion located 12 Reservoir Street sits on only 1.23 acres of land, but this legacy estate hit the market for an incredible $35million in Cambridge, Massachusetts.
It’s located just one mile from the esteemed Harvard University, has a garden that ‘transforms with the seasons,’ a koi pond, and even has a private au pair suite upstairs.
Another Harvard Square home just down the block at 172 Brattle Street hit the market for $16.8million.
The seven-bed, 10-bath home is 7,737 square feet and was built in 1880. For the asking price, one might think it would sit on acres of land, but it sits on a modest 0.34 acres.
Another home in the area, 15 Hubbard Park Road, hit the market for just under $15million and sits on 0.4 acres of land.
But those with the funds to live in Cambridge are there not only for the legacy and heritage built, but the perks.
‘In Cambridge, they’re getting less land, less house, but they’re also getting proximity to the things that mean so much to them,’ real estate agent John Petrowsky told the Boston Globe.
A woodsy seven-bed, 6.5-bath mansion located 12 Reservoir Street sits on only 1.23 acres of land, but this legacy estate hit the market for an incredible $35million in Cambridge, Massachusetts. It’s located just one mile from the esteemed Harvard University
Another Harvard Square home just down the block at 172 Brattle Street hit the market for $16.8million. The seven-bed, 10-bath home is 7,737 square feet and was built in 1880. For the asking price, one might think it would sit on acres of land, but it sits on a quaint 0.34 acres
‘People are willing to pay more to be here.’
Cambridge is a highly walkable city and families living there can have their kids safely walk to and from school.
It’s also a great area to rub elbows with some of the country’s most intelligent, as MIT and Harvard are near by.
‘Proximity to Harvard and to MIT have meant a lot, both psychologically and financially, to many people,’ Petrowsky said.
The area also has a great restaurant scene and a lively social calendar with its proximity to the universities, Nouné Karapetian, a real estate agent, said in a blog post.
‘I’m a foodie myself and I feel that Cambridge’s diverse population translates to the diverse food offerings,’ she wrote. ‘No matter the cuisine you’re interested in Cambridge offers phenomenal options for eating out.’
The has a great restaurant scene and a lively social calendar according to Nouné Karapetian, a real estate agent
‘In Cambridge, they’re getting less land, less house, but they’re also getting proximity to the things that mean so much to them,’ real estate agent John Petrowsky said. Residents like how walkable it is, the restaurant scene, and its proximity to Harvard and MIT
It also has access to public transit, and it has plenty of green spaces to enjoy time outside.
Cambridge is not in Boston, giving residents room to breathe, but they can easily access the big city in a 15-minute drive when needed.
For residents, these perks are worth the high-priced real estate and the densely populated area, even if they could go a few miles elsewhere and find more bang for their buck.