South Lake Union | UrbanCondoSpaces

Top Floor, 2 Story Unit at Veer Lofts

April 24, 2012 By admin Leave a Comment

For those of you loft lovers, check out this new listing at Veer. It just hit the market today. It is a top floor, 2 story floor plan with pretty incredible views of the Space Needle. Unit #615 was sold in the spring of 2010. The only other unit on the market at Veer Lofts is a short sale currently listed at $269,000. For those of you looking to rent, you can lease a 4th floor unit for $1,500. If you ask me, I could get use to living at a location like this. Its walking distance to Portage Bay Cafe, the Cactus, Whole Foods and the South Lake Union Park.

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Filed Under: All Condos, Home, South Lake Union, Veer Lofts Tagged With: Condo, Downtown, loft, Seattle, South Lake Union, Veer Lofts

Multiple Offer Situation, 9 Buyers for a One Bedroom Condo at 2200 Westlake

April 17, 2012 By admin 1 Comment

I thought I would share a quick story. One of my clients has been looking for a 1 bedroom Seattle condo in a concrete and steel building for close to 4 months. Just a 12 days ago, unit #W704 hit the market at 2200 Westlake. It is a 1 bedroom, 1 bath, 741 sq ft condo with west facing views. My client was immediately interested and decided to write an offer. When we learned that the unit was a short sale, there were a few obstacles we had to overcome, but ultimately, we submitted his offer and waited for the sellers response. We were told that there would be multiple offers, so my client decided to raise his price well over the asking price for the unit to ensure he would be in first position. In my opinion, we wrote a very good offer. It was well over the asking price, was all cash (no financing) and we removed the inspection to offer the most favorable terms for the seller.

6 days after writing our offer, we were told that it was the sellers 3rd favorite out of 9 offers submitted. The second best offer was all cash and over $25,000 above the sellers asking price. The best offer included financing but came in well above all other offers submitted.

So, let me summarize:

12 days on the market, over $25,000 more than the seller’s asking price and 8 buyers that didn’t have their offer accepted.

How is the market in downtown Seattle? I would buckle your seatbelt. This is the first sellers market I’ve seen in 4 years.

SELLERS – Now is the time to sell – Trust me. Contact us if you want a FREE analysis on how much your condo is worth.

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Filed Under: 2200 Westlake, All Condos, Home, South Lake Union Tagged With: 2200 Westlake, Buyer, Condos, Downtown Seattle, Market, mulitple offer, Seattle, Seattle Condo, Seller

How Amazon’s New Development Could Impact Seattle Condo Views

March 1, 2012 By admin Leave a Comment

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)

Enso Condominiums (Impact to the Southwest)

The Cosmopolitan (Impact to the North/Northwest)

How Amazon’s New Development Could Change Seattle Condo Views

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Seattle Condo Map (UrbanCondoSpaces)

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Filed Under: 2200 Westlake, All Condos, Cosmopolitan, Denny Triangle, Enso, Home, South Lake Union Tagged With: 2200 Westlake, Amazon, Condo, Condos, Cosmo, Cosmpolitan, Enso, Seattle, Seattle condos, South Lake Union, Views

New Wave of Rental Units In Popular Seattle Condo Projects

January 24, 2012 By admin Leave a Comment

For those of your looking to rent in 2012, there are a new wave of rentals that just hit the market in Seattle. Unlike traditional “apartment” projects, these rentals are condo owners leasing their units in highly coveted buildings. I’ve included the listings below. Just click the picture to view more details.

5th and Madison unit #1704 (learn more about 5th and Madison)

Cristalla Unit #1107 (Learn more about Cristalla)

Cristalla unit #703 (Learn more about Cristalla)

Enso Unit #1608 (Learn more about Enso)

Ruby Condos Unit #213 (Learn more about Ruby)

Avenue One Unit #1202 (Learn more about Avenue One)

Downtown Rentals:

Capitol Hill Rentals:

Queen Anne Rentals:

Greenlake Rentals:

Eastlake Rentals:

Wallingford Rentals:

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Filed Under: 5th and Madison, All Condos, Avenue One, Belltown, Condo Updates, Condos For Lease, Cristalla, Eastlake, Enso, Home, Retail Core, Ruby, South Lake Union Tagged With: 5th and Madison, Avenue One, Condo, Condos, Condos for rent, Cristalla, Enso, for rent, leasing, Rentals, Ruby, Seattle

Lofty Live/Work Condo In South Lake Union

November 12, 2011 By admin 2 Comments

Live/work units don’t hit the market very often. They come in all shapes and sizes and are typically scattered all over the city. Check out this unit at 2200 Westlake. It’s a 2 story, 1,380sf unit right in the heart of South Lake Union. The ground floor work space is still in an unfinished shell, but the upstairs is pretty cool. It has hardwoods floors an island kitchen, a lofty bedroom space and nice views of the city. For anyone looking to combine work and life at home, you may want to check this unit out. The asking price is $499,000. Here is a look at the listing

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Filed Under: 2200 Westlake, 2200 Westlake, All Condos, Denny Triangle, Home, South Lake Union Tagged With: 2200 Westlake, Condo, For Sale, Live, Live/Work, Seattle, South Lake Union, Work

Just One Home Left At Enso in South Lake Union

October 19, 2011 By admin Leave a Comment

The sales team at Enso is down to just one unit before they reach their sellout. It is a 1 bedroom, 1 bath on the 7th floor. It features views of Lake Union, a dual-sided fireplace and its own private balcony. This is just another reminder of the limited “new construction” inventory both in South Lake Union and Downtown Seattle as a whole. Owners in Enso, Veer, 2200 and Cosmopolitan stand to benefit the most over the next 5-10 years. Seattle’s interest in SLU will continue to grow and unless Rollin Street comes back on (highly unlikely given rents), the options are limited for new buyers. To use some Wall Street terminology, the opinion of quality downtown/SLU condos has gone from Neutral to Outperform starting in 2012. Disagree?

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Filed Under: All Condos, Enso, Home, South Lake Union Tagged With: Condo, Condominiums, Condos, Enso, South Lake Union condos

Foreclosure Auction Update, Seattle Condo Sells For 58% Less Than Last Market Sale

September 26, 2011 By admin 1 Comment

Remember these two units going to auction last Friday? I wanted to share the results.

Unit #1204 at 2200 Westlake: Sold for $1 over minimum bid. For those of your unfamiliar with the auctions. That means that only one investor was bidding on the unit and acquired it for just $1 more then what the bank was asking. What a win. It sold for $265,501. That is a 58% reduction from its last market sale in 2007! That is just $274 per square foot for concrete and steel construction.

Unit #508 at The Concord: This unit had a very different result. The sale was postponed. This can happen if the unit owner files bankruptcy, talks the bank into a delay of sale, successfully sells the unit as a short sale, or when the bank decides to delay the proceeding. At any rate, it did not sell and we’ll keep it on our radar in the coming months.

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Filed Under: 2200 Westlake, All Condos, Auction Foreclosures, Belltown, Concord, Denny Triangle, Home, South Lake Union Tagged With: Auction, Condo, Condo foreclosure, Condos, Foreclosure, foreclosure auction

Downtown Seattle Condo Foreclosures, Headed to Auction

September 22, 2011 By admin 2 Comments

There are 2 great condos that are going to auction tomorrow (9/23/11) and I would buy both of them in a heartbeat. The first and the most attractive in my mind is W1204 at 2200 Westlake. It has North facing views that overlook the courtyard, Lake Union and extend all the way to Gas Works Park. It was originally purchased in April of 2007 for $628,000. At one point in 2008 it was listed for as much as $650,000. Now just 3 years later, this 1 bedroom, 1 bath has a minimum bid of $265,500!

The other unit is located on the 5th floor of the coveted Concord in Belltown. I love this building. In my opinion, it ranks in the top 15 condo buildings in Seattle. The unit is not a home run, but it is a great value and an opportunity to buy low in a class “A” project. Unit #508 was last purchased for $500,000 in 2007. It is 754 sf with big views of the Sound. It was last listed in March of this year for $439,950. The minimum bid at tomorrows foreclosure auction is just $236,072.08.

It is not very often that 2 great units go to auction on the same day. I try to keep my eye on the auctions each week. These 2 condos combined with the Cristalla unit from last week have to make the last 2 weeks the best I have seen in well over 6 months. I think they make excellent buys for investors looking to buy and flip and even better buys for someone looking to do a long term buy, hold and rent strategy. If any of you want to discuss options like these in greater detail, contact me through our contact us.

Unit #1204 at 2200 Westlake:

Unit #508 at The Concord:

If your interested in learning how to buy a foreclosure these, feel free to contact us.

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Filed Under: 2200 Westlake, 2200 Westlake, All Condos, Auction Foreclosures, Belltown, Concord, Denny Triangle, Home, South Lake Union Tagged With: 2200 Westlake, Belltown, Concord, Condo, Condo Foreclosures, Condos, Downtown, For Sale, Foreclosures, Seattle Condo foreclosures

Short Sale At 2200 Westlake, 45% Reduction From Its 2007 Price

August 20, 2011 By admin 1 Comment

Do you recognize this unit? It’s in the South (ARTE) building at 2200 Westlake on the 10th floor.

It was on the market in 2009 for $395,000, then again just two months ago for $315,000. As of this morning it is back on the market at $262,000 as a short sale. It was originally purchased in March of 2007 for $474,950. Given its price now, that is a 45% reduction from its 2007 purchase price. If your looking for a short sale in a concrete and steel building, this might be worth your time. Especially if you consider the fact its right in the heart of South Lake Union. I have been know to share my opinion in the past about SLU.

Here is a look at the listing. Click for more information:

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Filed Under: 2200 Westlake, 2200 Westlake, All Condos, Denny Triangle, Distressed Sales, Everything Urban, Home, South Lake Union Tagged With: 2200 Westlake, 2200 Westlake Short sale, Condo, Seattle, Short Sale, South Lake Union

Top Floor Unit At Veer Lofts, On The Market

July 16, 2011 By admin Leave a Comment

At top floor unit at Veer Lofts just hit the market tonight. It’s priced at $419,950 (see the listing here). It has 18 foot ceilings and west facing views. Veer has been a popular building in South Lake Union. Since the original sellout in 2010 there have only been a handful of re-sales in the 99 unit project. I love the location and find this particular unit to be pretty interesting as it sits on the top floor with pretty good west facing views. It also has a private patio and electronic blinds. If your in the market, you might want to take a look.

Here is a look at the listing:

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Filed Under: All Condos, Home, South Lake Union, Veer Lofts Tagged With: Condo, Condos, loft, Lofts, Seattle, South Lake Union, Veer Lofts

Bank Owned 1 Bedroom At 2200 Westlake

June 28, 2011 By admin Leave a Comment

A new bank owned one bedroom just hit the market at 2200 Westlake. The last time it sold was in 2007 for $410,000. Now it is listed at $249,900 ($355psf). It is located on the 3rd floor in the Arte or south building of the South Lake Union project.

See the listing here: #S304

2200 Westlake	INFORMATION	UCS PROJECT GRADE	GRADE	AMENITIES
ADDRESS	900 Lenora St, Seattle	LOCATION	A+	24 Hour Concierge
DEVELOPER	Vulcan	AMENITIES	A	Fitness Facility
ARCHITECT	Collins Woerman	PRICE	A	Spa
BUILT	2006	LUXURY	B	Game room
STORIES	Arte (15), Azur (12) & Aria (18)	BUILDING CONSTRUCTION	B+	Theatre Room
UNITS	Arte (126), Azur (102), Aria (33)	UNIT DECOR	B	Guest Suites
TOWERS	Arte, Azur & Aria	RETAIL	A	Amazing Ground Floor Retail

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Filed Under: 2200 Westlake, 2200 Westlake, All Condos, Denny Triangle, Home, South Lake Union Tagged With: 2200 Westlake, Condo, Condos, Seattle, South Lake Union, towers

Art Stable

May 31, 2011 By admin Leave a Comment

Project: Art Stable
Neighborhood: South Lake Union

DESCRIPTION

Art Stable, developed by Point 32, is an urban vertical development in the South Lake Union neighborhood of Seattle. The name “art stable”, is a subtle reference to its previous use as a former horse stable. Now the site brings a highly formable/adaptable live-work space. The building is a artful illustration of re-newable design in an urban setting. Both sides of the building offer dramatic visuals including large commercial steel enclosed windows and hand-cranked doors that cover nearly 30% of the facade. The award winning architect, Tom Kundig imagined the windows carrying on a warehousing tradition of a space that allowed over-sized furniture and art to be moved into the building. Over-sized windows offer natural ventilation in each individual unit.

Units are designed to accommodate creativity. Offered in a “shell” form, they are flexible in use and can be situated in many ways. In addition they are zoned for both residential and commercial use. According to the Olson Kundig, “the shell and core of the building are built to last over 100 years”.

The building also offers high-efficency energy systems. Geothermal loops were inserted into the building’s structural piles. The result is an innovative and highly efficient radiant heating/cooling system. The building can also accommodate future use of Solar technology. Art Stable received a 2011 AIA Housing Award and was named residential architect magazine’s 2011 Project of the Year.

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PICTURES

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PROJECT INFO | UCS PROJECT GRADE

ART STABLE	INFORMATION	UCS PROJECT GRADE	GRADE
ADDRESS	516 Yale Ave, Seattle	LOCATION	B
DEVELOPER	Point 32	AMENITIES	C+
ARCHITECT	Olson Kundig	PRICE	B+
BUILT	2010	LUXURY	A-
UNITS	6	UNIT DECOR	A

MAP

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WALKSCORE

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Filed Under: All Condos, Amenities, Architects, Art Stable, Developers, Elevator, Home, Lobby Entrance, Olson Sunberg Kundig Allen Architects, Point 32, Secure Parking, South Lake Union Tagged With: Art Stable, Condo, Condos, loft, Lofts, Seattle, South Lake Union, Tom Kundig

This Short Sale At 2200 Westlake May Be Worth A Look

May 25, 2011 By admin Leave a Comment

If your looking for a 2 bedroom condo in Seattle, this unit at 2200 Westlake may be worth a look. It just hit the market today. Once sold for $750,000 in 2005, the asking price is now $470,000. As a short sale, the price will be subject to the banks approval, but in this market there are plenty of these short sales that are getting done (you just have to wait for it). For the price, this unit is below market for a concrete and steel building. If you recall, a unit we sold just months ago for $499,000 had multiple offers and was on the market for just 4 days. It was similar in size, layout and view. Dollar for dollar, one could argue that this unit at 2200 Westlake has just as much upside as the unit at the Cosmopolitan did on the 24th Floor. Just thought I would bring it to your attention. Happy condo shopping (or renting)!

Here are some pictures of the unit:

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Filed Under: 2200 Westlake, 2200 Westlake, All Condos, Cosmopolitan, Denny Triangle, Home, South Lake Union Tagged With: 2 bedroom, 2200 Westlake, Condo, Condos, Seastar, Short Sale, starbucks, Tutta Bella, Whole Foods

South Lake Union Condo Project, Welcomes Two Seattle Mariners

May 4, 2011 By admin Leave a Comment

You may have noticed that there are few less units on the market at 2200 Westlake. In fact, we caught word that two of 2200 Westlake’s newest tenants are Seattle Mariners. Both units were condos for sale that were lured off the market with above market rent offers (this is becoming a new trend).

In an effort to protect these athletes and their privacy, we won’t share any specific details. If you see any them grabbing a Starbucks or buying their weekly groceries at the Whole Foods give them a pat on the back; as of last night they have won 6 out of their last 7 games. Apparently UCS readers are not the only ones that see South Lake Union as a home run*.

So what is there to like about this project/location?

Inside your building:

24 hour concierge

Fitness studio

World class gym

Spa

Game room

Movie theatre

Secured building

Right outside your door:

Starbucks

FedEx

Pharmacy

Tutta Bella

Seastar

Yoga Studio

Pan Pacific Bar

Whole Foods

*pun obviously intended

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Filed Under: 2200 Westlake, All Condos, Home, South Lake Union Tagged With: 2200 Westlake, Condo, Condos, for rent, Rentals, Seattle, Seattle Mariners, South Lake Union

Enso Resale On The 16th Floor, Fully Furnished

April 17, 2011 By admin Leave a Comment

Project: Enso
Neighborhood: South Lake Union

If you were wondering where I was the last few days, I spent a few days away from the office. I’m actually writing this post on my flight back to Seattle. I noticed this unit at Enso that is selling for the first time since it was originally purchased from the developer (Vulcan). It is on the 16th floor which is just 3 floors away form the top. It comes fully furnished and has pretty incredible views. For those of you that don’t remember, Enso is a LEED Gold certified project. It has 19 floors and 134 units.

See the listing here:

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Filed Under: All Condos, Enso, Home, South Lake Union Tagged With: Condo, Condos, Downtown, Enso, Seattle, urbancondospaces.com, Vulcan

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