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
| UNIT | STATUS | LIST PRICE *** | DOLLAR PER SQUARE FOOT | DAYS ON MARKET |
|---|---|---|---|---|
| 809 | Pending | $369,000 | $445.52 | 7 |
| 1210 | Pending | $399,000 | $449.83 | 6 |
| 1501 | Sold | $397,000 ***(Sold for $394,000) | $509.70 | 4 |
BUILDING FACTS AND STATS FOR CRISTALLA
| CRISTALLA CONDOS | INFORMATION | UCS PROJECT GRADE | GRADE | BUILDING AMENITIES |
|---|---|---|---|---|
| ADDRESS | 2033 2nd Ave, Seattle | LOCATION | B+ | 24 hour concierge |
| DEVELOPER | Murray Franklyn | AMENITIES | A | On-site management |
| ARCHITECT | Weber + Thompson | PRICE | B | Pool |
| BUILT | 2005 | LUXURY | A | Pool, Sauna (wet and dry) |
| STORIES | 23 | BUILDING CONSTRUCTION | A | Owners Lounge & Screening Room |
| UNITS | 197 | UNIT DECOR | A | Multiple View Decks & Fitness Facility |
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