Wednesday, April 18, 2012

New Luxury Housing and Two-Story Chanel Planned for Back Bay

A new luxury building will soon get underway on Newbury Street, offering six condominiums and a new storefront for one of the street’s high fashion staples. The corner of Newbury and Arlington Streets is set to house two, new four-story 49,000-square-foot buildings, collectively called No. 6 Newbury. The project, will include construction of a 10,000 square foot ‘House of Chanel’, on the first two floors.

The new condos slated for 4-6 Newbury Street --two, two-bedroom duplexes and four, three- to four-bedroom units ranging from 3,000 to 4,500 square feet - and having floor to ceiling windows -- will be built where a garage currently stands, are expected to ask $3.5 million to $6 million each, depending on their sizes and design requests.

That would make them among the most expensive listings in Boston when they come online next winter.

News of the project, which its developers, including Irish investor Aidan Brooks, are calling No. 6 Newbury (which is actually being called Chanel No. 6 among those in the Boston real estate community), emerged last week after its approval by the city. The Chanel store will take up the first two floors.

Chanel's new 10,000 square foot home has been designed to resemble Coco Chanel’s famed Paris apartment with an exterior fa├žade of French white limestone and black etched moldings designed by architects Peter Marino and Richard Bertman.

Construction of the building is expected to begin in late spring with units expected to be ready for February 2013. No date has been set for Chanel's move.