If you read our post last week about the new high-rise condo project in downtown Seattle, we promised to show a number of videos that take a look at the site. To some of you this may seem boring, but to condo fanatics like us, it is the first phase of the development process – soon enough it will be 41 stories of steel, concrete and glass. As you’ll see below, we were able to shoot the videos from a number of different vantage points. Hopefully this will get you familiar with the location. As we mentioned before, we believe the new project will be an phenomenal addition to the downtown core. Enjoy!
JUST LISTED FOR LEASE
Bright SW corner unit with stunning views of Elliott Bay, city skyline and Olympic mountains. Enjoy the upgraded bamboo flooring in the entry, living and dining areas and wool carpeting in the bedrooms. Other upgrades include designer lighting, granite counters and electric fireplace w/limestone surround. 24 hour concierge, fitness facility, guest suite, huge rooftop deck & home owners lounge. Walk to Olympic Sculpture Park. Enjoy neighborhood restaurants and coffee shops right outside your door. Open floor plan, island kitchen and huge views. Enjoy living urban!
Jeff J Reynolds
Do you know of anyone looking to Buy, Sell or lease real estate?
Windermere Real Estate/East, Inc.
There is an exciting event tonight in South Lake Union. For the last few years, consultants have worked with community leaders and special interest groups to determine the best zoning recommendations for the popular neighborhood. Those recommendations will be unveiled at 6pm by Seattle Department of Planning and Development . The public is free to attend. The address is 415 Westlake Avenue N.
I’ve heard everything from a “step-down” approach to allowing high-rise condominium towers that would add urban density and generate property tax revenue. Regardless of which approach your support, it will be fascinating to see the changes that will ultimately change the South Lake Union neighborhood for years to come.
For useful information and daily updates on South Lake Union, check out the community page development by Vulcan.
The Sanctuary in Capitol Hill is sold out. If you recall, they re-launched in January and in 6 months sold 12 units. Congratulations to Resource Transition Consultants, Pathfinder Partners, Realogics-Sotheby’s and most importantly the new owners of this phenomenal project. Sanctuary is a great addition to “The Hill”.
I notice this short sale when reviewing properties this morning. At only $318 per square foot, this would be one of the better buys in Downtown Bellevue. As Bellevue continues to grow, units like this should gain more popularity. It is only 2 blocks from Bellevue Square, it has secure under-ground parking and offers over 1,500sf for less then $500,000. Check out the listing here. This home might be worth a look.
We just sold this 31st floor unit at the Cosmopolitan. It was a short sale and our buyer had to compete with multiple offers. It is a good reminder that when you write an offer, it is not just what you write but how your write it. Congrats to our client, who now owns a super cool unit 31 stories above ground!
We represented the buyer and successfully competed against 9 other offers to purchase the property. It sits just 3 floors below the penthouse.
31st story 1 bed, 1 bath with den. Stunning Lake Union, Capitol Hill, Queen Anne and Mountain views. Modern build with stainless appliances, granite counter-tops, dark wood cabinets and hardwood floors. The unit has an open living space with breakfast bar, living room fireplace, floor to ceiling glass, bedroom with walk-in closet, deck and spacious den for home office or media.
Jeff J Reynolds
Do you know of anyone looking to Buy or Sell real estate?
Windermere Real Estate/East, Inc.
I love this unit - but I didn’t buy it.
The lucky person that did is going to enjoy this top floor Seattle condo for years to come. Big sunsets, a 700sf out-door space and stylish interiors are just some of the perks of 2929 1st Ave PH2. For $1,685,000, this top floor unit also includes:
- Sound, Space Needle & Olympic Moutain views
- Gas bbq, hot-tub and wet bar for entertaining.
- Amazing electronics
- Lutron lighting including 3 HDTVs
- Floor to ceiling windows
- 1,729 sq. ft. of living space
- 2 secure parking stalls
|CONCORD||INFORMATION||UCS PROJECT GRADE||GRADE||AMENITIES|
|ADDRESS||2929 1st Ave, Seattle 98121||LOCATION||B+||24 Hour Concierge|
|BUILDING||Concrete and Steel Construction||PRICE||B||Home owners lounge|
|TOWERS||2 Towers, 13 Stories||LUXURY||B||Terrace|
|UNITS||206||BUILDING CONSTRUCTION||A||Hot Tub, Sauna|
|NEIGHBORHOOD||Belltown||UNIT DECOR||B+||Secured building|
|ARCHITECT||Driscoll Architects||WALKABILITY||A+||Business Center|
Looking to do lunch this week in South Lake Union? Check out this interactive map that Vulcan just released. When you see a commitment like this from a neighborhood or community it is no surprise why restaurants, coffee shops and businesses are moving into the neighborhood. Bravo SLU. Bon apetite!
Just click the photo above or follow this link for more information.
Yet another Lumen condo headed to foreclosure this Friday. This one bedroom, one bath was last sold in 2007 for $410,900. Now its listed with a minimum bid of $294,505. For those of you unfamiliar with Lumen, I have included the details below and you can also check out the UCS profile page here.
|LUMEN CONDOS||INFORMATION||UCS PROJECT GRADE||GRADE|
|ADDRESS||501 Roy St, Seattle||LOCATION||A-|
Ok, the word is out – Seattle is getting a 41 story tower featuring 335 units (previously proposed Insignia Towers). I wanted to give our readers a better understanding of the location and its proximity to South Lake Union, Belltown etc… I walked the site last week and have organized some images and videos for your review. I’ll post the videos separately. Furthermore, if you would like to sign up to receive more information as it becomes available for this project, join our breaking news and project update list by following this link or entering your information below.
View Insignia Towers – PROPOSED SITE in a larger map
View How Amazon’s New Development Could Impact Condo Views in a larger map
Here are some quick thoughts on the project’s location:
- Will create synergy between Belltown and South Lake Union
- Only 1 block from Amazon’s proposed site
- Only 3 blocks from 2200 Westlake (Whole Foods, Starbucks, West Elm etc…)
- 3 blocks from South Lake Union Transit
- 4 blocks from Space Needle
- 3-6 blocks from Belltown restaurants and bars
- 5 blocks from Pacific Place, Nordstrom, Nike Town etc..
SE Corner (Bell and 5th Ave)
SW corner (Battery and 5th Ave)
NW Corner (Battery and 6th)
NE Corner (Bell and 5th)
View more photos from the site:
Join UrbanCondoSpaces – Breaking News and Project Updates
Let’s put another feather in South Lake Union’s cap. In a recent press release, Paul Allen’s Vulcan Real Estate announced that four garages in the growing and uber-popular neighborhood will offer $2 parking on weeknights and weekends. I think the announcement is brilliant and if I were a business owner in the busteling neighborhood a thank you note would be in the mail for Mr. Allen.
South Lake Union seems to be hitting its stride. It is fixing its traffic issues, adding thousands of jobs, restaurants and becoming more pedestrian friendly. On the opposite end of the spectrum, just last year the city of Seattle raised their parking rates in key areas of downtown that need growth (Pioneer Square, Financial District, West-Edge). In the past, we clearly disagreed with Mayor Mcginn and the Seattle City Council on this issue.
Meanwhile, in the press release regarding Vulcan’s $2 dollar rate, the company said “For folks coming to South Lake Union for extended visits to shop, dine and stroll, Vulcan Real Estate is working to make their visits as easy and affordable as possible…”
The rate is available starting at 5 p.m. on weeknights and all day on Saturday and Sunday. The rate is good until the garages close for the night:
– 2201 Westlake building (across from Whole Foods): Monday – Saturday, 10 p.m.; Sunday, 8 p.m.
– Westlake Terry Garage, (320 Westlake Ave N) entrance: Sunday – Saturday, midnight
–Westlake Terry Garage, (321 Terry Ave. N. entrance): Monday – Friday 10 p.m.; Weekends, 7 p.m.
– Alley 24 (John Street and N. Yale Avenue): Monday – Saturday 10 p.m.; Sunday, 6 p.m.
Combined, the garages have 1,000 spaces available.
Keep in mind that visitors would pay between $8 and $12 to park for four hours under normal rates. I like what Vulcan is doing in South Lake Union. From what I hear from readers, owners and tenants, they like living in the neighborhood as well.
As first reported by UrbanCondoSpaces back on March 21st of this year, Bosa Development will start construction on a 41 story, twin tower condo project featuring 335 units. It is now being reported by the Daily Journal of Commerce that the construction will start in the next 2 weeks. This is incredible news for a depleted Seattle condo market. I’ll have plenty of information to add to this story. Stay tuned.
You can see our report from a few months ago, below. Just click on the image.
Looking for a foreclosure opportunity in lower Queen Anne? Unit #411 at Elliott Condos/500 Elliott is heading to Fridays public foreclosure auction. It was last purchased in 2006 for $219,900 – the minimum bid at Auction is $135,000. I would estimate the rent to be $1,150-$1,250. Good rental opportunity? I think it is nice to see that these options are back in todays market. I’ll keep you posted on what it sells for. Happy condo hunting this week!
Want to learn more about the building? Check out the UCS project profile:
This is a prime example of what will continue to happen in this market. Class “A” concrete and steel condo projects like Bellora, Cristalla, 2200 Westlake, Enso and others will continue to be the most targeted product in a market that will not deliver anything new until 2014 or beyond.
Want my opinion on what you should be looking at? Contact us.
Courtesy of Aubrey Cohen at the Seattle PI, the numbers are in for May and Seattle home prices have risen 10.5% since last year. The median price for a home in the City reached $425,500 in May. That is up from $385,000 a year ago. Pending home sales were up by 16.2%. This is not a surprise to me. Buyers have been frustrated with the lack of inventory and quite a few of my sellers have enjoyed multiple bids when putting their home on the market. We are seeing a market recovery – especially near the city core.
To read more, see the article here: Seattle house prices post double-digit increase