Seattle Penthouse Sells In Less Than 48 Hours, South Lake Union

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Check out this South Lake Union penthouse that just sold in less than 48 hours (our team sold it!). It had 2 offers and went to an all cash buyer for $1,400,000 just 36 hours after hitting the market. It has 2 bedrooms, 2 bathrooms and a large den. Featuring $100,000 in upgrades including Lutron Blinds, SONOS surround sound and custom lighting.  Views include Space Needle, Lake … [Read more...]

New Project Watch, 40 Story Towers Planned In Denny Triangle

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Here is a project to keep an eye on. The design review proposal is scheduled for June 23 at 7pm*.  The proposal includes 2, 40 story towers and an 11-story podium building. It would total 812 apartments, 170 hotel units and 7,100sf of retail space. There would be 600 parking spaces as well. The location of this project will get your attention. Its located on 6th Ave between … [Read more...]

Downtown Seattle Condos Selling Quickly, Over 100% Of Asking Price

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In the last 14 days, there were 26 sales in the downtown Seattle condo market. 16 of those 26 sales sold at or above the asking price. To be exact, sellers were receiving over 100% of their asking price on average (100.95%). 14 of the 26 sales sold in less than 10 days. To put that in perspective, in a normal market, inventory levels would reach about 2-3 months of supply. … [Read more...]

Just Listed, Madison Tower Penthouse, $11,000,000

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Ok, we admit, this is shameless self-promotion. We had too though. This is a project we have been working on for months and we are very proud of it. An opportunity to bring to market the most luxurious Seattle condo space in the city. They are the Penthouse units at Madison Tower and there are total of 3 offerings. Interested in our luxury listing platform? Contact … [Read more...]

40 Story Twin Tower Design Revealed For Denny Triangle, New Seattle Condo Project?

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Another project is coming to the Denny Triangle. Clise Properties and Graphite Design Group presented plans last night to the Seattle Design Review Board. The plans include 2 twin towers with 686 residential units, 21,000 sq. ft. of retail space and 185,000 sq. ft. of office space (parking 860 vehicles). The three design options are very different and it will be … [Read more...]

Three New Towers Have Escala Surrounded

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If you currently live at Escala, don't panic, but we think you should pay special attention to this post. Here is the current landscape surrounding the 2009 built condo project. (Courtesy of Google Maps). Now lets examine 3 major projects that are projected to built and will surround the luxury condo tower. 1. Permits were originally approved for a 43 story … [Read more...]

Vulcan To Add Another 420 Aparments to South Lake Union

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The explosion of new Seattle apartments will continue. According to the DJC, Vulcan is in early stages for another apartment site at 1255 Harrison St in South Lake Union. It would add 420 apartments, 348 parkings spaces and some ground floor retail. We've created a map below to show just a few of the projects that Vulcan is marketing at the moment. Per the article: Last year … [Read more...]

Northwest Facing Views At Escala, Changing Soon

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We are hearing from a source of ours that a 43 story apartment project is moving forward at 2000 3rd Ave (3rd and Virginia). This undoubtably will impact the NW facing views at Escala (4th and Virginia). It will also impact the Royal Crest condo project as well (3rd and Lenora) British Columbia Investment Management Corp, purchased the site at 2000 Third Ave. in Seattle … [Read more...]

The Math Behind Seattle’s Next Condo Project

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Wondering when a developer will start considering a new condo project in Seattle? Just pay attention to 2 things. 1. The cost per square foot that apartment developers are getting when they sell their project 2. The cost per square foot that condos are fetching in todays market. These are two simple, yet major indicators when a developer is considering a new … [Read more...]

25 Story Tower Coming To South Lake Union

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Another day in Seattle and another proposed project announced. The new tower would replace City Hardware on the SE corner of 9th and Harrison. In the proposed design review, the building would feature 323 units and ground floor retail. MacFarlane Partners would be developing the site with Ankrom Moisan as the lead Architect. We like to look at the impact from a condo … [Read more...]

Luxury Seattle Condo Sales To Outpace 2012 and 2013

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Luxury condos in Downtown Seattle are flying off the shelf. We'll define luxury as anything over $1,000,000. There have been 17 sales in this million dollar plus category year to date - with 13 sales pending. Assuming those pending sales close by the end of April, that adds up to 30 sales in the first quarter of 2014. Just for a point of reference, we had 53 sales in 2013 … [Read more...]

Office Presentation, Seattle Condo Market Update

Condo Update - Presented by UCS

We had the opportunity to present to the Yarrow Bay Windermere office on Tuesday. It was a comprehensive update on the Seattle and Bellevue condo markets. We've built the slides over the last few weeks and have included a few for your reference. The topics featured  were: Inventory - Now and Projected What Is Driving The Next Construction Cycle South Lake Union The Amazon … [Read more...]

Seattle Population Outpacing The Burbs

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  A big thanks to a loyal friend and reader of the blog. He sent an email tonight with an article from the Seattle Times that immediately captured our attention. According to Census data, for the first time since 1910, Seattle is outpacing King County Suburbs in population growth. It started in 2010, reversing a 100 year trend. Between 2011 and 2012, Seattle’s … [Read more...]

Seattle Jobless Rate Just 4.7 Percent

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Looking for good news today? According to an article by Josh Kerns of MyNorthWest.com,  the jobless rate in Seattle is now just 4.7%. This is the lowest it has been since 2008. Washington's recovery continues to outpace the rest of nation, which posted a 7.6 percent national average in May. This is excellent news for condo owners, buyers and investors. For true, … [Read more...]