One Lincoln Tower Penthouse Sells For $2.3 Million, Last Purchased at $5.3 Million. Seriously.

The 2012 list of incredible condo sales just grew by one. When I say incredible, trust me. Penthouse #4102 at One Lincoln Tower was one of the best penthouse units in the Seattle/Bellevue market. What’s remarkable, it that it was sold by a bank – not an owner. We posted about unit #4102 before. Once the bank took possession through foreclosure, they listed the property back in September of 2011 for $4,950,000.  It was reduced to $4,500,000, $3,988,888 and finally $3,500,000. Just a short 90 days later the property now belongs a lucky buyer who paid $2,300,000! I couldn’t believe my eyes when I saw that price. $2.3 million for unit #4102 is INCREDIBLE. Think of it this way – regardless of the fact the price was reduced to $3.5 from the $5.3 million that it was originally purchased for, the bank gave the buyer a $1.2 million dollar discount from the asking price. Seriously?!?

The views include Mt Rainier, Lake Washington, The Olympics, Downtown Seattle and they almost reach West Seattle. The condo itself is massive. The 41st story unit is 4,058 sq ft with 2 bedrooms, 2.5 bathrooms, 2 fireplaces, 20 foot ceilings and floor to ceiling windows that feature some of the best views in Seattle and Bellevue condo market.  There must be something in the water. Just a few days ago we posted on the million dollar category in Seattle and it appears that just in the last 6 months, buyers are really pulling out their checkbook for penthouse units.

Luxury is back – IN A BIG WAY. (see more pictures)

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