How Amazon.com Changed A Condo Auction

Amazon_Gallery_Office Tower

It has been reported that the Gallery "Auction" that turned into a one-day sales event ended with 8 sales averaging discounts of $.88 cents on the dollar.  The developers website has called it a "Successful One Day Event".  The success of the event is a matter of opinion.  I think what is much more fascinating is the last minute change to the auction format.  News broke Friday, … [Read more...]

Gallery Now Offering A 3% Buyer Bonus For Upcoming Auction

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As the upcoming auction at Gallery looms, another sales incentive has been announced (3% buyer bonus).   I looked into the fine print and their disclosure says Buyers must qualify, other restrictions may apply. See Auction Information Center for details. With over 25 units to sell I can understand the urgency to ensure all units are sold.  I'm anxious to see how the traffic … [Read more...]

Bravern To Lease North Tower

The Bravern.Night Shot

Wow.  The Bellevue condo market has changed.  Schnitzer West announced yesterday, that the North tower of the Bravern Residencies will be converted to luxury apartments.  In another sign of the times, Schnitzer simply put, just couldn't meet the markets pricing demand in many efforts to sell over 400 residential units.  Now that the entire project will be converted to … [Read more...]

Gallery Condos

Gallery.Ext

Gallery, located at 2911 2nd Ave is a concrete and steel structure that hit  Belltown with a splash.  Developed by Schnitzer West, and designed by architects Mithun Architects + Designers + Planners this 13-story community is comprised of 233 units.  Built by PCL Construction, Gallery consists of a variety of floorplans including 18-foot ceiling sky lofts, two-story units, … [Read more...]

Have Rents Risen At Bravern’s South Tower?

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After receiving my first e-mail blast from the Bravern's leasing team, I noticed that the advertised rental rates have risen from a starting price of $1,100 to $1,400 per month (see the picture below).  After hearing about the success of their leasing efforts thus far, this didn't surprise me.  At the same time, with all the available units to rent in Bellevue, I wonder if this … [Read more...]

25 Units Leased At The Bravern

Bravern-Condos

As reported early last week (Bravern to Lease South Tower) The Bravern Signature Residences is going through some major changes.  With the news that they are leasing the entire south tower, I thought I would check in to see if there had been some activity. According to one of their sales agents they have leased 25 units in just 7 days.  It sounds like they are going to leave … [Read more...]

Bravern To Lease South Tower

The Residences at the Bravern

Schnitzer West has just announced that they will be renting the South tower at the Bravern Residences in Bellevue.  This should not come as a surprise, given the market conditions and the current inventory levels in downtown Bellevue.  What is surprising is discreet manner in which Schnitzer has been operating.  The brokerage community has had no idea what direction the project … [Read more...]

Brix Condos In Capitol Hill Reporting 8 Sales in Less than 2 Weeks

Brix Condominiums

I just received an e-mail from Amanda Loring at Brix Condominiums in Capitol Hill.  They have just 11 units left after selling 8 units in less then two weeks.  I think this a great example of a project getting serious with pricing; leading to more sales.  The tax credit is driving traffic as well.  Just 10 days left for buyers looking to take advantage. For more information … [Read more...]