Leather District

The nine-block area of the Leather District, situated between the Financial District and Chinatown, has taken on a character of its own since the 1980s. Originally the leather-producing area of the city in the nineteenth century, the entire neighborhood is a National Register district. It is characterized by low-rise brick warehouses with large, street-level display windows framed by cast iron columns.

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With the push to create more housing within the downtown area of Boston, many of these buildings have been converted to loft-style apartments and condos. The district is a thriving commercial hub attractive to startup tech firms and is the headquarters of State Street Corporation. The neighborhood is close to South Station, several major highways, city bus service and is within walking distance of the Chinatown T. The Leather District is rated the most walkable in the city.

Leather District Residential Investments

Because of its small size and contiguous border with Chinatown, the two neighborhoods are often grouped together, but residential quarters in the Leather District have a uniqueness of their own. As warehouses are converted into luxury condos, the combination of historic features, modern amenities and spacious floor plans are distinctly Leather District.

As properties come on the market for sale in this district, they go quickly. The median selling price for April 2015 was $1,138,000, an increase of 131.9 percent over a one-year period. The selling price of $558 per square foot is an increase of 43.1 percent over the previous year.

An analysis of median rents by neighborhood in March 2015 shows that although rates decreased in the Chinatown-Leather District, the neighborhood was still the third most expensive in the city, averaging $4,510 for a two-bedroom. Well-lit corner penthouses, spacious lofts, luxury condos with architectural detailing and great street appeal make the vibrant Leather District a desirable neighborhood.

Choosing the Right Leather District Investment Property

The Leather District is an excellent place to look for investment property. With condominium and apartment space at a premium, attractive residential space sells quickly. The well-defined neighborhood is near major employers, close to Tufts Medical Center and adjoins the Financial District. Boston City Properties has access to all major listings within Boston. For the right investor, the Leather District has great potential. We are available seven days a week. Call us at 617-247-1933, or fill out the form on this page to request more information about the Leather District.

Leather District Real Estate Market Overview 2017

In August, the median sales price for a home in the Leather District was $610,000, which was a 6.7 percent decrease, or $44,000, from the prior year's price of $654,000. Conversely, the average price per square foot rose during the period from $914 to $1,036.

Breaking down the numbers by bedrooms, the median sales price of a one-bedroom home dropped 8.7 percent during the period from $651,500 to $595,000, but the price for a three-bedroom home rose a striking 730.2 percent from $536,000 to $4,450,000 during the same period.

The median rent in the neighborhood in August was $2,400, which was the lowest point of the year and down from the highest of around $2,730 at the end of April.

2017 Real Estate News

In October, the Rose Kennedy Greenway Conservancy received a $1.4 million grant that will go toward renovating the park's southern boxwood gardens between North and Hanover Streets. The redesigned garden space plan includes new outdoor furniture and umbrellas. The project is expected to begin in the spring of 2018 and finish in the fall.

Opened in June of 2017, Trillium Brewing Company's Garden on the Gateway sits adjacent to the Greenway near Rowe's Wharf along the waterfront. The beer garden is open Wednesdays through Sundays through the month of October.

Also opening last summer was "The Z," a 220-foot-long zipline over the Greenway. The Z rises 30 feet above the ground and is open during the summer through Labor Day.

In May, a developer purchased a 115,625-square-foot garage on a 27,800-square-foot lot at 125 Lincoln Street for just under $40 million. This amounts to almost $395.45 per building square foot and $62.5 million per acre. In addition to parking, the building, constructed in the 1950s, includes ground-floor retail space and upper-floor office space. Zoning would permit up to 223,880 square feet of development.

In November, a realtor offered 14,680 square feet of commercial property on Floor 6 of a building at 2 Boylston Street for lease.

Many of the Leather District's former leather factories were converted into residential or commercial space. A top-floor, one-bedroom condo at Lincoln Plaza is listed for $594,000, which amounts to $913 per square foot. Built in 1894, the stylish complex was converted into residences in 2006. This open-concept, well-lit condo features high ceilings and walls, a kitchen with granite countertops, gas range and stainless appliances and dishwasher, hardwood flooring in the living area, wall-to-wall-carpeted bedroom with large closet, marble bath, central air conditioning and washer and dryer. The building features a basement bike room and two elevators. There's also a common courtyard at the 92-unit complex.

Also available at Lincoln Plaza is a 1,021-square-foot two-bedroom, two-bath loft-style apartment for $3,700 monthly, or $3.62 per square foot. The well-lit open-concept unit features high ceilings, several large windows, central air conditioning, washer and dryer, kitchen with stainless appliances including range, refrigerator, microwave and dishwasher and disposal, master bath with en-suite marble bath and ample closet space. There's also a gated common courtyard, indoor and outdoor bike storage plus additional storage and on-site management.

Listed for sale for $30,000 is a parking space located at Tremont-on-the-Common condos garage that can accommodate small sedans or other compact cars. Another 21-foot by 6 1/2-foot space in the same area is listed for sale for $60,000. The space is also suitable for a small sedan or other small car. A full-size parking space is listed for sale for $75,000 at the same site.

Listed for rent and available in 2018 is a contemporary 1,358-square-foot, one-bedroom, one-and-one-half-bath bi-level condo with laundry at Beach Street LOFTS for $3,100 monthly, or $2.28 per square foot. The naturally-lit upper level features 15-foot-high ceilings, floor-to-ceiling windows, hardwood floors, stainless appliances, powder room and 100-square-foot loft storage area. The lower level features a den with custom-built shelves and media center and larger master bedroom with two closets and full bath with Jacuzzi.

Also listed for sale at the Beach Street LOFTS is a unique two-level brick-and-beam 4,189-square-foot four-bedroom, four-bath condo for $3,345,000, or $799 per square foot. The unit features exposed brick walls, 12-to-14-foot-high beamed ceilings, open-concept living and dining and master bedroom with walk-in closets and en-suite bath. The lower level of the unit includes a private entrance and 1,238 square feet of space with family room and bedroom with spa-like bath. Built in 1899, the pet-friendly complex offers two private storage units, direct elevator access and two main entrances.

For $6,000 monthly, or $3.53 per square foot, renters can enjoy the privacy of a three-bedroom, two-and-one-half-bath third-floor apartment in a four-story building located at 136 Boylston Street. The unit features exposed brick, high ceilings, hardwood flooring, modern kitchen with range, microwave, dishwasher, refrigerator and disposal, washer and dryer, HVAC, marble bath, elevator access and secure video intercom.

Located atop the South Tower of the Ritz Carlton, at 2 Avery Street, a 4,703-square-foot five-bedroom, five-and-one-half-bath penthouse condo that provides a spectacular panoramic view of the city lists for $11 million. There's also a 261-square-foot sky deck and formal dining room. Included are hotel services and fitness and spa facilities.

Another Ritz Carlton penthouse is listed for $2,995,000, or $1,471 per square foot. The 2,036-square-foot two-bedroom condo features 12-foot-high floor-to-ceiling windows powder room and bedrooms with en-suite bath. The master bath includes a glass-enclosed shower. Community amenities include a uniformed doorman and 60 hours of monthly guest parking.

More "affordable," at $969,000, or $1,207 per square foot, is an 803-square-foot one-bedroom, two-bath condo in the Ritz Carlton South Tower. The customized linen-white-painted interior features herringbone floors and master bedroom with en-suite bath, custom lighting and surround sound.

A 2,021-square-foot, two-bedroom, two-and-one-half-bath penthouse condo at Millennium Place is listed for sale at $2,975,000. The unit features an open living area with gas fireplace, ivory oak hardwood flooring, marble baths, two built-in office spaces, custom closets and private outdoor terrace. Community amenities include a private owners' lounge and dining, outdoor lounge, fitness center and movie theater.

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