There aren't a lot of bakery-real estate offices. But the global pandemic has created a new world that led the delicious croissants of Fiore's Bakery to share the same space with Ken Sazama Real Estate. After being closed for five months due to the Coronavirus, Fiore's Bakery reopened with a twist -- a new business roommate as Sazama Real Estate set up shop where customer seating used to be. Charlie Fiore and Ken Sazama talked about what led them to this odd coupling of their businesses. Q: What made you come to this interesting business arrangement?
While it won't be the Doyle's Pub that you, your father, your father's father, and his father, grew up with -- there is a proposed project to revive the pub that closed last year after 137 years of serving the community. The Save Doyle's Cafe Facebook page posted an update with a flyer for an Oct. 1 community meeting. "Priorities have shifted these past few months as we struggle through this pandemic and all of us take stock of what is dear. While we know there are more pressing issues at this time, we also know that our community will recover and life will resume some day.
The Hyde Square Task Force will be selling the Blessed Sacrament Church property after two years of being unable to find a partner to redevelop it into a community center. The Hyde Square Task Force (HSTF) purchased the property in 2014, and has been carrying $500,000 in debt, and expenses for the building cost more than $100,000 annually, according to a press release. In 2014, HSTF provided a tour of some of the closed-to-the-public areas of the church. "Dedicating our resources, solely, to meet the needs of our youth is the only way we can fulfill our core mission and that is why the HSTF Board of Directors voted to sell the former Blessed Sacrament Church,” said HSTF Executive Director Celina Miranda. The original plan was for a performing arts center with space for community events, but a 2019 request for proposal seeking investors failed to generate interest.
The site of the dive bar The Drinking Fountain is for sale, and being advertised as a good opportunity for developers. The building was posted on zillow.com in early June and has already seen a price cut of $20,000 on June 30, and is now listed for $1,575,000. Located at 3520 Washington St., and 5,793 square feet, it also includes two residential units above the old bar with 4 bedrooms and 5 bathrooms, two parking spaces, and was built in 1900, according to zillow.com. "For a bar owner, catering service or a restauranteur, this is a rare opportunity to own your own space and have monthly rental income from the residential units above to boot," says the zillow.com listing. The listing also notes the property is located in the Plan: JP/Rox study area, and a building may go up to 55 feet in height on the parcel.
The Coronavirus has changed our local real estate market, but it looks like Jamaica Plain's real estate market is still hot. To start: It’s important to take all of this with the notion that things could change drastically depending upon the severity and impact of the Coronavirus. Think of it, a week ago would we have thought that we’d no longer be allowed to dine in restaurants? Probably not.
Today there are very low interest rates combined with low inventory and strong demand -- that has still led to open houses attracting a good amount of interested buyers. In JP inventory slows down during the winter and picks up in the spring, but this has been a mild winter, which has led to a quicker spring market.