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Seattle & Bellevue Urban Living
For any of you that are wondering what $3,000 per month will get you in the City, I have included two units that just rented last week.
I just got off the phone with Javila Schelhorn at Enso Condominiums and they are moving units at a pretty incredible pace. In fact their latest closing has them under 50 condos left to sell. As we move towards the expiration of the tax credit and more market confidence, I would venture to say that Enso’s sales team will have the project sold out before we know it. Remember that they took a pro-active pricing approach to “meet the market”. It pays off! I made sure to inquire about any upcoming events and at this time they do not have anything scheduled.
Their website has plenty of information to sift through and they are open daily from 11am-6pm.
If you have any questions or would like to schedule a showing click here.
For anyone considering the Cosmopolitan in Seattle, they must re-visit its past. As most of you know the Cosmo had an epic rise and fall all within 2 years. Read the italiasized text from a previous post of mine as a reminder and then follow along below to participate in a discussion about where the Cosmopolitan Condos stand today: View Pictures Here
Everything about the Cosmopolitan would seem to fit Seattle perfectly. However, the construction of a commercial project just west of the building has put a damper on the once perfect luxurious tower. A very controversial topic for well over a year amongst owners, the city planning office and the private sector led to a period of silence as Schnitzer Northwest proceeded with their development of a 36 story commercial tower (1918 eighth). Not only did it disrupt remarkable west facing views for the highly sought after wing of the building, but it has cast a pricing spell on the rest of the units for sale. Many owners trying to sell their units at the Cosmo, dealt withan incredible amount of uncertainty in pricing and had to fight the aftermath of their project sticking out like a sore thumb.
If any of you were to consider the Cosmopolitan as your next home, it would be foolish not to consider the damage that has been done. However, it has much to offer when considering the location, amenity package and the allure of high rise luxury living. Without much construction over the next few years, I anticipate that demand will increase once again for this special building.
Obviously the project has had its fair share of bad press. It also has experienced quickly declining values and a social stigma amongst Seattle buyers; but how do we all feel about the project now? The Cosmo could benefit from little to no new Seattle activity. It shouldn’t surprise anyone if we don’t see a new project completed in the next 3 years. Does that actually benefit a buyer at the Cosmo? Does a seller now in the “04″ stack (NE facing) have a new appreciation for the future of their unit? Once Enso and Olive 8 sell out, the Cosmo will remain a 34 story luxury tower within close proximity of a growing South Lake Union neighborhood. It begs the question:
Would you purchase now at the Cosmo? If so, why? If not; is it a matter of time or do you feel that the project is forever plagued due to its new 36 story neighbor? I’m anxious to hear your thoughts!
[mappress]
2200 Westlake is a dynamic project consisting of three buildings in the South Lake Union neighborhood. The project includes residential, a hotel and some phenominal retail.
The three buildings designed by firm Collins Woerman used an abundance of floor-to-ceiling glass, architectural concrete, and brick & steel. The highly used Weber + Thompson designed floor plans and the interior decor.
The buildings have been named Aria, Azur and Arte.
Aria is an 18-story tower including the Pan Pacific Hotel. 33 condominiums are located within this building. It is also the building that sits directly above the Whole Foods, Seastar and Tutta Bella.
Azur is a 12-story tower with 102 homes,
Arte is a 15-story tower with 126 units.
Floor plans include town homes, studios, lofts, one bedrooms, one bedroom +dens, two bedrooms & two bedroom plus dens. Homes range in size from 500 sf to 2,000 sf. The project used top materials and appliances. Ceilings range from 9-10 ft tall with the exception of town homes where they soar to 18 feet. The condominiums have air conditioning, central heating, and the luxury kitchens and well thought interior decor. The units originally ranged in price from $300K to over $2 MM.
With such anticipation 2200 Westlake attracted a number of investors. Many of whom drove prices down by discounting their units to get the units off their books. The project was originally a joint venture between Vulcan Inc., owned by Paul Allen and Milliken Development Group. I don’t remember all the details, but Vulcan eventually bought out Milliken; increasing ownership in the Westlake project.
Vulcan has made an unbelievable investment in Seattle real estate. South Lake Union is a maturing neighborhood that has greatly benefited by the addition of Vulcan’s residential and office ventures. Enso, Rollin Street (now apartments) and Veer Lofts, have re-thought the living standard in this area of Seattle.
UCS EXCLUSIVE WEBSITE
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www.condosat2200westlake.com
UCS PROJECT GRADE
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Address: 2200 Westlake Ave
Seattle Year Built: 2006
Bedrooms: studios, 1, 1.5, 2, 2.5
Bathrooms: 1–2
Total Units: 261
Amenities: Professional landscaping, retail, homeowners lounge, exercise facility, elevator,
storage spaces, secure building and parking
My Grade:
Location: B+
Amenities: A
Price: B
Luxury: B+
Walk-ability: A Google Walkscore
Unit Decor: A
WALKSCORE
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