Penthouse At 1521 Goes Under Contract, List Price $4,995,000 (Updated)

327493 4 1 Penthouse At 1521 Goes Under Contract, List Price $4,995,000 (Updated)

 

 

 

 

 

 

 

 

 

 

UPDATED – This unit sold in 8 days once under contract for a purchase price of $4,250,000

A quick note to congratulate a few colleagues of mine that put together a buyer and seller on a monster sale at 1521 Second Avenue. Referred to as Penthouse 1, this 3,600sf Seattle condo features 2 bedrooms and 2.5 baths. The unit stretches from the NW corner to the East corner of the building with incredible views of Elliott Bay, The Olympic Mountains, Queen Anne, The Cascades and South Lake Union (pretty much covers it all).

Best of all, it has a 601sf private rooftop terrace. The listing price was $4,995,000, but it may take weeks to find out what it actually sold for. In the last 3 years, there were only 3 condos that sold for more (2 units at Four Seasons and a 5,170sf penthouse at Escala)

Largest condo sales sales dating back to 2010

 99 Union St #2000 (Four Seasons)  99 Union St #1902 (Four Seasons  1920 4th Ave #3001 (Escala)
 $7,198,100  $6,300,000  $5,950,000
 Four Seasons Private Residences 150x150 Penthouse At 1521 Goes Under Contract, List Price $4,995,000 (Updated)  Four Seasons Pool 150x150 Penthouse At 1521 Goes Under Contract, List Price $4,995,000 (Updated)  Escala Lobby 150x150 Penthouse At 1521 Goes Under Contract, List Price $4,995,000 (Updated)


Here is a collection of pictures of Penthouse 1 at 1521 Second 

Olive 8 Adds New Listings, How Do The Asking Prices Compare To Downtown Seattle Inventory?

Downtown Condo Comparison final Olive 8 Adds New Listings, How Do The Asking Prices Compare To Downtown Seattle Inventory?

Did any of you notice the increase in “listed” inventory at Olive 8?  I was going through the last couple days of newly listed condominiums in downtown and found that Olive 8 just added 12 new listings to the market. They range in size from 808 to 1,586 sq ft. The lowest priced unit is $490,000 and the highest is $895,000 at an average cost per square foot of $626. That made me wonder how their listed price per square foot compared to the sold inventory of other condos on a cost per square foot basis.

The average cost per square foot of sold units in the same category was $452psf. To make sure it was accurate, I pulled a sample set of projects that are 2007 or newer.  I’m letting you come up with your own conclusions on value.  For the last 6 months, Olive 8′s SOLD cost per square foot average was $644. Here is a list of a few other projects and how they compared:

PROJECT Escala Enso 1521 Second Ave
SOLD COST PSF $479$521$760

Olive 8 Listed Inventory – Click here to review.

Olive 8 New Listings  1024x461 Olive 8 Adds New Listings, How Do The Asking Prices Compare To Downtown Seattle Inventory?

 

Sample of sold units – Click to review

Downtown Sold Properties psf 1024x439 Olive 8 Adds New Listings, How Do The Asking Prices Compare To Downtown Seattle Inventory?

 

Bellora Penthouse Condo Headed To Foreclosure Auction, In 2005 $1.5 Million, Now $800,000

Bellora 1001 e1320255592744 Bellora Penthouse Condo Headed To Foreclosure Auction, In 2005 $1.5 Million, Now $800,000

Wow. You don’t see this very often. If I were only in the market for a penthouse right now!

One of the Bellora Penthouse units is headed to foreclosure today (public auction).  This Seattle condo located in Belltown was last purchased for $1,495,000 in 2005. As of 9am this morning it has has a minimum bid of $800,000. It is a 2 bedroom, 3 bath unit plus den. It has floor to ceiling windows with big views of Elliott Bay and the Olympic Mountains. It features bamboo flooring, granite countertops and high-end appliances and at 2003 sq. ft, the asking price of $800,000 puts the cost per square footage at $399!

At $400 per square foot for a Seattle penthouse, I’d say thats a pretty incredible deal. Take a look at the penthouse for sale at the Concord.  These buildings were built just 3 years apart and many would argue that they very much alike in their offering and quality of construction. With that said, one is for sale at $1,795,000 (Concord) and the other mentioned above is 300 sf more and priced by the bank at $800,000 for today’s auction (Bellora).

2929 1st Ave Penhouse #2

2929 1st Ave PH2 Seattle  1 Bellora Penthouse Condo Headed To Foreclosure Auction, In 2005 $1.5 Million, Now $800,000

Bellora Sun Terrace e1331321125448 Bellora Penthouse Condo Headed To Foreclosure Auction, In 2005 $1.5 Million, Now $800,000

BELLORA SUN DECK

Bellora Gym e1331321208446 Bellora Penthouse Condo Headed To Foreclosure Auction, In 2005 $1.5 Million, Now $800,000

BELLORA GYM

 

A New Construction Townhome Project, Lake Boren, Celebrates Grand Opening On March 10th

 

 

DSC 0973 1024x682 A New Construction Townhome Project, Lake Boren, Celebrates Grand Opening On March 10th

I attended an exclusive preview event on Tuesday for the newest townhome project on the eastside – Lake Boren townhomes in Newcastle.

It is a really cool concept and it comes at time when buyers are getting frustrated with the lack of quality inventory on the market. Lake Boren, which is 5 minutes from I-405 is now home to 14 newly completed townhomes with plans of 56 total homes. What is so unique about the property is that it has direct access to the waterfront at an affordable price point. The developer, Continental Properties (Cosmopolitan Condos, Kirkland Central Condos) known for both high-rise development and townhome projects, utilized the waterfront by building a massive outdoor patio with BBQ’s, picnic tables, firepits and kayak access so the owners can enjoy waterfront living.

The 2-3 bedroom homes range from 1,200 t0 1,600 sf.  They have an attached garage, large decks, spacious floor plans and quality contemporary finishes.  Here is a list of the available floor plans:

Residence G (3 bedroom, 3 bath – 1,391 square feet)
Residence G-1 (3 bedroom, 3 bath – 1,440 square feet)
Residence E-1 (3 bedroom, 2 bath – 1,901 square feet)
Residence E-2 (3 bedroom, 2 bath – 1,337 square feet)
Residence A-1 (2 bedroom, 2 bath – 1,208 square feet)
Residence C-1 (2 bedroom, 2 bath – 1,255 square feet)

 

I thought the units were great and its a prefect option for someone looking to move to Bellevue/Eastside, but wanting to avoid 520 and the toll.

Thus far, they have sold 3 units. I’ve included some pictures of the project below.

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Foreclosure Auction Update, 2 Seattle Condos Sold

 

Condo Foreclosures Foreclosure Auction Update, 2 Seattle Condos Sold

I thought I would post a quick update from Friday’s foreclosure auction.  There were 2 Seattle condos that I was watching in particular.

GetMedia.ashx  e1330641269989 150x150 Foreclosure Auction Update, 2 Seattle Condos Sold

Avenue One Condos (2721 1st Ave #601, Seattle)  Minium bid was $133,350.  It sold for $1 dollar over minimum bid $133,351. (We wrote about this unit yesterday)

GetMedia 3.ashx  e1330787699388 150x150 Foreclosure Auction Update, 2 Seattle Condos Sold

IV West Condos (530 4th Ave West #503). Minimum bid was $171,714. It sold of $202,200.

Enjoy the weekend!

 

 

 

Condo At Avenue One In Belltown, Last Sold at $287,000, Auction Price of $133,550

 

 Condo At Avenue One In Belltown, Last Sold at $287,000, Auction Price of $133,550

Foreclosures have been a little quiet lately (holidays, foreclosure settlement etc…). With that said, I always try to keep an eye on the market in case something pops up. Unit #601 at Avenue One is schedule to be auctioned off tomorrow morning. It originally sold for $287,0oo in 2005. The minimum bid is set for $133,550 (Bank of America). We’ll have to wait and see if it sells. Remember that all bank owned units go through this process. If it doesn’t sell at public auction, it “reverts” back to lien holder and will likely come back on the market as “bank owned”. If you guys ever have any questions or want to learn more about foreclosures, check out our foreclosure page or contact us.

If you want to learn more about the building, check out our Avenue One Profile Page.

Avenue One Blog Condo At Avenue One In Belltown, Last Sold at $287,000, Auction Price of $133,550

 


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How Amazon’s New Development Could Impact Seattle Condo Views

How Amazons New Development Could Impact Condo Views How Amazons New Development Could Impact Seattle Condo Views

I heard from a client of ours last week who was inquiring about how the new Amazon development could change the views at 2200 Westlake. I decided to do some research and as you can see, I was able to diagram some of the potential changes below.

In my opinion, the biggest impact would be on the Southwest side of 2200 Westlake (photo 1), The South side of Enso (photo 2) and the Northwest corner of the Cosmopolitan (photo 3).  With that said, I don’t think Seattle condo owners should worry.  Although views change a bit, the economic impact, including the rise in property value will outweigh any and all of the negatives associated with the change of view (IMO).  More people = more organic stimulus. Denny Triangle, South Lake Union, and all of Downtown will benefit immensely as the Amazon property is developed.  Look for more retail shops, restaurants, better transportation and a boost to the hotel industry. Have I told you yet that I REALLY believe in the direction of South Lake Union?  (just checking).

 

2200 Westlake (Impact to the West)

2200 Westlake Views Amazon Project 1 How Amazons New Development Could Impact Seattle Condo Views

Enso Condominiums (Impact to the Southwest)

How Amazon May Change The Enso View How Amazons New Development Could Impact Seattle Condo Views

The Cosmopolitan (Impact to the North/Northwest)

View From Cosmo Amazon How Amazons New Development Could Impact Seattle Condo Views

 

How Amazon’s New Development Could Change Seattle Condo Views


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Seattle Condo Map (UrbanCondoSpaces)


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Downtown Seattle Condo Market Shows Improvement, Cristalla Benefits

Cristalla 1909 View Deck e1315504484679 Downtown Seattle Condo Market Shows Improvement, Cristalla Benefits

The first quarter of 2012 will be very impressive for Seattle condo sales (downtown). I think we are on the cusp of a robust recovery and possibly a sellers market under the $400,000 price point. One building in particular is on fire – The Cristalla.

It really shouldn’t come as a surprise. Cristalla has a great reputation, a massive following and is often recognized as one of Seattle’s best condo buildings. Its located at 2nd and Lenora, has 197 units on 23 floors and features an impressive list of amenities – 24 hour concierge, grand lobby, business center, yoga/pilates studio, screening room, fitness facility, terrace, dog run and rooftop deck.

As the market recovers, so too have the “class A” buildings (see Escala sales as well).  In just the last 30 days, Cristalla has had three 1 bedroom units hit the market and immediately go under-contract. I’ve included the units below. Consider this, in that same time period, 30 condos under the $400,000 price point went under contract.  In the 30 days before that, just 11 had found buyers (went under contract).  That is a 172% increase in just 30 days.

LAST 30 DAYS AT CRISTALLA

UNITSTATUSLIST PRICE ***DOLLAR PER SQUARE FOOTDAYS ON MARKET
809Pending $369,000$445.527
1210Pending $399,000$449.836
1501Sold $397,000 ***(Sold for $394,000)$509.704

BUILDING FACTS AND STATS FOR CRISTALLA

CRISTALLA CONDOS INFORMATIONUCS PROJECT GRADE GRADE
ADDRESS2033 2nd Ave, Seattle LOCATION B+
DEVELOPER Murray FranklynAMENITIES A
ARCHITECT Weber + ThompsonPRICE B
BUILT 2005LUXURY A
STORIES 23BUILDING CONSTRUCTIONA
UNITS 197UNIT DECOR A-

 

SEARCH DOWNTOWN SEATTLE CONDOS

Just Leased, Mosler Lofts #607

UPDATE
We just leased this property in less then 30 days.  Check out our announcement below that goes out to friends, family and colleagues. If you would like to receive these as well, we’ve added a sign in box below. If you would like to learn more about our condo and home leasing service click here.

JUST LEASED

Front Just Leased, Mosler Lofts #607

2720 3RD Ave #607, Seattle
Mosler Lofts
$1,595
1 bed | 1 bath
BelltownDowntown Seattle

We successfully leased this open 1 bedroom in less then 30 days

Enjoy urban living in this chic 1 bedroom loft. Wall of windows featuring city lights and great views of the Space Needle. The award winning Mosler Lofts is full of incredible amenities. Concierge services, grand lobby, lounge, library, fitness facility, secured garage, secured entry from all areas of a the building & an incredible rooftop deck. Just steps away from Myrtle Edwards park, the SAM sculpture park & all the restaurants & night life the city has to offer. Just 4 blocks west of SLU.

Learn More About This Property | View this property on Facebook: Just Listed | Follow us on Facebook!

jeffjreynolds 300x282 Just Leased, Mosler Lofts #607

Jeff J Reynolds
206.794.1118

jreynolds@urbanimg.com

Do you know of anyone looking to Buy or Sell real estate?

Jeff Contact Us Just Leased, Mosler Lofts #607

Concierge1 150x150 Just Leased, Mosler Lofts #607  Lobby 150x150 Just Leased, Mosler Lofts #607  Meeting Room 150x150 Just Leased, Mosler Lofts #607  Exercise Room 150x150 Just Leased, Mosler Lofts #607   IMG 0510 150x150 Just Leased, Mosler Lofts #607  IMG 0511 150x150 Just Leased, Mosler Lofts #607  IMG 0512 150x150 Just Leased, Mosler Lofts #607  IMG 0513 150x150 Just Leased, Mosler Lofts #607  IMG 0514 150x150 Just Leased, Mosler Lofts #607  IMG 0520 150x150 Just Leased, Mosler Lofts #607  IMG 0526 150x150 Just Leased, Mosler Lofts #607

We have a list of readers, clients, friends and family that receive all of our Just Listed/Just Sold announcements like you see above.  If you are interested in seeing the properties that we list, sell or rent throughout the year, then simply add your e-mail to the box below and you’ll be included on all future e-mails.

View Other Downtown Condos (For Sale and Rent)

Pioneer Square Loft, Sweet Digs

 

Interiors Pioneer Square Loft, Sweet Digs

Pioneer Square hasn’t had much love from us these days, so I thought I would post this uber-chic loft that just hit the market.  It was on last year, for $525,000, but its being re-introduced at a new price – $510,000.  It has a super cool interior with exposed brick/steel, an island kitchen with gas, and beam ceilings. For those of you seeking a loft, it appears that this one is well worth a look.  Have a great weekend.  Happy condo (& loft) hunting.

Check out the listing here: 210 3rd Ave S, Seattle [c/o Ewing and Clark]

Bath Pioneer Square Loft, Sweet Digs

Search Pioneer Square

Increased Parking Hours and Fees During The Recession Has Hurt Seattle Business…..Duh.

Parking Meters Increased Parking Hours and Fees During The Recession Has Hurt Seattle Business.....Duh.

Mayor Mcginn and the Seattle City Council - I’d hate to tell you that “I told you so”, but…………… I TOLD YOU SO!

Raising parking rates and extending parking hours in certain parts of Downtown Seattle was not just ill-timed, but idiotic. Everyone realizes that the city has budget issues, but during the recession, when the city decided to raise parking rates and extend the “paid” parking hours to generate revenue, many residents of our city were scratching their heads like me. Now the repercussions of that decision are starting to surface.

I don’t know specifically who broke the story, but both the Seattle Times and Komo News Radio covered it today. There are 7 community groups and over 70 restaurants that have written the Mayors office to beg for a retraction of the increased hours/fees. To be honest, I don’t blame them.  According to the Seattle Times, some business owners are citing as much as a 50% decline in business. I can’t imagine that much of an impact, but lets be honest, does the increase in revenue for the city outweigh the health and stability of Seattle’s restaurant community?  Even Tom Douglas, a famous Seattle restaurateur is at odds with the city over the parking change.

Speaking from a condo perspective, as I said before, I think this has hurt our community. Higher rates and longer hours were a bad idea. You may recall a post I wrote last year that highlighted the differences between Downtown Bellevue and Downtown Seattle.  Seattle is headed in the wrong direction, while Downtown Bellevue is laughing all the way to the bank.  Healthy business = Healthy tax revenue.  Do the math.

 

Rental At Mosler Lofts, Hitting The Market This Week

293146 14 0 e1329849260576 Rental At Mosler Lofts, Hitting The Market This Week

For those of you looking for a rental, I’m going to be bringing on a 1 bedroom unit at Mosler Lofts, towards the end of the week. It has close to 700sf with a nice view of the Space Needle and tons of natural light. It has a spacious layout, over-sized bathroom and a custom closet system left by the seller. The rent will include a parking stall, water, sewer and garbage. Electricity, cable and telephone are not included. The building has a concierge, library, lounge, business center, fitness facility and a huge roof-top deck. See the panoramic photos below. If you would like to learn more about the unit or to be included in the e-mail when the listing goes “live”,  you can register by following the link below or by clicking here.

For those of you unfamiliar with Mosler Lofts, it was built in 2007 and is located in the Northend of Belltown.

Project Details Button Rental At Mosler Lofts, Hitting The Market This Week

MOSLER LOFTS INFORMATION UCS PROJECT GRADEGRADEAMENITIES
ADDRESS 2720 3rd Ave LOCATIONA-24 Hour Concierge
BUILT2008AMENITIES BFitness Facility
BUILDING Concrete and Steel Construction PRICEBLounge
NEIGHBORHOOD BelltownLUXURY B+Rooftop Deck
UNITS 148BUILDING CONSTRUCTION ASecure parking
DEVELOPER Schuster GroupUNIT DECOR A-Secured building
ARCHITECT Mithun Architects + Designers + PlannersWALKABILITY ARetail

 

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Water View Pan Rental At Mosler Lofts, Hitting The Market This Week

Inland View Pan Rental At Mosler Lofts, Hitting The Market This Week

Bank Owned Seattle Condo, Selling At A 59% Reduction of Last Sale Price

Lumen Courtyard e1329336577970 Bank Owned Seattle Condo, Selling At A 59% Reduction of Last Sale Price

Unit M-247 at Lumen just went pending last week after 5 days on the market.  That might not mean much until you consider its history. It was once listed as high as $549,950 after being  purchased in May of 2007  for $449,900. Fast forward a little over 4 years and that same unit is listed at $185,000.  Wow.

The bank took back possession of the unit in August of 2011.  Wells Fargo, the current owner has obviously taken the stance of reducing the price and “getting the property off their books”.  For those of you that enjoy the significance of the numbers, they priced the unit to at a 59% decrease from its last sale price in 2007.

Here is a look at the listing:

Lumen 501 Roy Street M 247 Bank Owned Seattle Condo, Selling At A 59% Reduction of Last Sale Price

 

Houseboat Sold In Just 1 Day On Market – Pending Sales Update

 

317829 2 0 Houseboat Sold In Just 1 Day On Market   Pending Sales Update

I’m off to show a few condos this morning (downtown Seattle). Before I go, I thought I would share some of the units that went pending over the last few days. Including the houseboat above that can literally drive away at a moments notice.  Seafair anyone?

Escala #809 (1920 4th Ave #809, Seattle)

Sold in just 3 days of being on the market

1920 4th Ave 809 Seattle 1 Houseboat Sold In Just 1 Day On Market   Pending Sales Update

 

Tavona #110 (333 Wallingford Ave N #110, Seattle)

Bank owned 2 bedroom, 2 bath. 1 of 5 units that went to foreclosure and ultimately back to the bank

333 Wallingford Ave N 110 Seattle Houseboat Sold In Just 1 Day On Market   Pending Sales Update

 

Houseboat 2401 N Northlake Wy, Seattle 

This 750sf houseboat sold in just 1 day on the market

2401 N Northlake Wy Seattle 1 Houseboat Sold In Just 1 Day On Market   Pending Sales Update

 

 

Sanctuary On Capitol Hill Is Off To A Fast Start, 3 Units Pending

 

316816 3 0 Sanctuary On Capitol Hill Is Off To A Fast Start, 3 Units Pending

Sanctuary is off to a fast start.  In just 10 days of market time, they have sold 25 percent of their inventory. See below.

Sanctuary is a 12 unit residential conversion of the former 1906 First Church of Christ Scientist in Capitol Hill. The 12 units range from four to six levels (including roof top terraces). Sized from 1,600 to more than 3,000-square-feet. The prices range from the low $500,000s to $1.1 million.

SANCTUARY   INVENTORY Sanctuary On Capitol Hill Is Off To A Fast Start, 3 Units Pending

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