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Seattle & Bellevue Urban Living
As I was sifting through inventory this morning, I noticed that there were 3 condo sales in the past 3 days and all of them sold at full price. This is typical of the market right now – as long as the price is at market when it goes live.
121 Vine St #303 | Sale Price $320,000
Arbor Place Tower
2 bedroom | 1.75 bath
2033 2nd Ave #1506 | Sale Price $495,000
Cristalla
1 bedroom | 1 bath
737 Olive Wy #3105 | Sale Price $845,000
Olive 8
2 bed | 2 bath
VIEW CONDO COMPARISON
Let’s look at view condos in 2 different markets – Seattle and Bellevue
SEATTLE
How about this sale at Cristalla last week? Unit #1709 is a corner unit. It has west and south facing views with an outdoor deck. For 1,572 sq. ft. this unit seems to have it all. Island kitchen, bamboo floors, structural concrete accents, stylish lighting, floor to ceiling windows, spacious master bedroom suite, guest room, den/office and a gas fireplace. Not bad right? Seems pretty fair at a price of $840,000 or $534 per square foot. Listing details here
VIEWS – Elliott Bay, Olympics, City Skyline
BELLEVUE
Although its just across the lake, Downtown Bellevue provides a much different feel than Downtown Seattle. Less water, but diverse city views. I chose a unit at Washington Square Condos. Unit #1809, although smaller, offers a pretty compelling space. At 1,270 sq. ft. it has an open floor plan, island kitchen, granite counters, cherry cabinets, hardwood floors, gas fireplace, large master suite with soaking tub and shower, california closets, and a private patio to take in the city lights at night. Sale price of $590,000 or $465 per square foot. Listing details here
VIEWS – Bellevue City Skyline, Southern Exposure, Cascades
Thoughts? What would you choose and why?
Considering the love affair Seattle has with Cristalla, I thought I would share 2 new listings that just hit the market. Both are 2 bedrooms located on the 20th and 22nd floor. Designed by Weber + Thompson, Cristalla was built in 2005.
2033 2nd Ave #2207, Seattle
Priced at: $675,000
Last sold for: $810,000 (10/04/2005)
2033 2nd Ave #2204, Seattle
Priced at $749,000 ($661.66 psf)
Last sold for: $655,000 (10/14/05)
| 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 |
Unit 1909 at Cristalla is back. It was listed in January of 2011 for $1,395,000. Without any luck finding a buyer, the unit was rented for $5,000 per month and now a year and half later, its on the market again. With the market conditions the way they are now, I would expect that the unit will sell.
This 19th floor west facing condo features 2 bedrooms, 2 baths and 1,588 sq ft. It has been upgraded with high-end finishes and offers 3 parking stalls and wine storage. I LOVE this unit. For more listing info, click here
In October of 2007 this unit was listed as high as $2,095,000.
| 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 |
[photos c/o W. Lister]
High-end condo rentals in Seattle are leasing quickly and at top dollar. See below for a collection of just some of condos that have leased in the last 30 days. I can’t say I’m surprised that these rentals are moving quickly – renting a condo can have much more upside then living in a traditional apartment building. In addition to that, steady employment growth and below average inventory levels are contributing to the pace of leased units as well.
In the last 3 months there have been more than a dozen condos that have rented for $4,000 or more. The highest priced rental in the last 30 days was located at Escala – It rented for $9,500 per month.
900 Lenora St #W507 – 2200 Westlake
Rented – $3,950 per month – Rented in 13 days – $2.40 price/sf
2033 2nd Ave #1509 – Cristalla
Rented – $4,000 – Rented in 32 days – $2.67 price/sf
1521 2nd Ave #1201 – 1521 Second Ave
Rented – $5,500 – Rented in 17 days – $2.79 price/sf
1521 2nd Ave #2800 – 1521 Second Ave
Rented – $5,750 – Rented in 19 days – $3.55 price/sf
As I’ve been saying now for months, good condos, priced well in the downtown Seattle core are selling quickly. I thought I would provide some examples. In just the past week, there were at least 3 condos that sold in less than 5 days. You should be able to recognize the 3rd unit on the list (we sold it!). What is the take-away? If you are in a position to sell right now and you are realistic about market value – you will be rewarded. Feel free to contact us with questions.
501 Roy #R300 (Located at 5th and Mercer) Lumen Condos
Sold in 5 days
2033 2nd Ave #806 (Located at 2nd and Lenora) Cristalla Condos
Sold in just 1 day
820 Blanchard St #1206 (Located at Denny/Westlake) Enso Condominiums
Sold in just 2 days with multiple offers
I’ve spent less time on the blog this week for one reason. I’ve been busy at my day job! I’ve had a couple of clients write offers this week and it feels like next week will be the same. It is obvious to me that limited inventory and increasing demand is driving a lot of sales this month. I thought I would show you a few deals that sold quickly in the last 2 weeks. I’ve highlighted four sales – All located in in downtown Seattle. Each on of them sold in less then 6 days:
1920 4th Ave #605, Seattle (Escala Condominiums)
Traditional sale, sold in 6 days
819 Virginia St #3103, Seattle Wa (The Cosmopolitan)
Short sale, sold in 3 days
2033 2nd ave #1501, Seattle 98101 (Cristalla Condos)
Traditional sale, sold in 4 days. SICK view.
910 Lenora St #s802, Seattle 98121 (22oo Westlake)
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:
Do you remember this condo we wrote about in September? Then, unit #809 at Cristalla was scheduled to go to auction with a minimum bid of $254,745. It was postponed (delayed) and finally made its way back to the foreclosure auction last Friday. It was brought to our attention by a loyal reader and client of ours who wanted to purchase this particular unit. On their behalf, I went down to the auction on Friday in an effort to secure the property for them. It didn’t take long me to notice that there were a few others investors that had their eyes on the 1 bedroom unit as well. Long story short the bidding started at $212,000 and ended at $265,000. Not a bad deal considering that this same exact unit once sold for $622,500 in 2007. Not all foreclosure sales have the same result, but in this case, my analysis showed that this property sold for about 70% 0f its actual market value.
We’ve just updated our Cristalla Property Profile page. Check it out. Interested in learning how to buy at the auction? Contact us.
| 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 |
I couldn’t resist. It seams like every other e-mail in my inbox is for Black Friday. So I thought we could make our contribution as well. I’m featuring the Black Friday deals for this Mondays foreclosure auction.
Units scheduled to be sold on Monday include:
Search Other Downtown Seattle Condos for Sale:
Project: Cristalla
Neighborhood: Downtown
Did anyone else catch this ad in the Seattle Times yesterday? I was looking through the real estate section while at the gym and I found it on page 3. It advertises that unit #1807 at Cristalla is going to be auctioned off at 3:15pm on Tuesday April 19th. It is a 2 bed, 2 bath with 1,174sf. We have posted about this unit before (Once 1,045,000, now $594,900). According to the ad you can inspect the property on 10th (yesterday), the 17th and 2 hours before the sale. The opening bid is $100,000. The current vested owner is US Bank na services. The company that purchased the ad is Williams and Williams. According to their website they are a “worldwide real estate auction”.
Cristalla Quick Facts:
CRISTALLA EXTERIOR
UNIT PHOTOS
Project: Cristalla
Neighborhood: Downtown
MLS #189746
Looking for a sweet pad to rent in a downtown Seattle high-rise? I noticed this 22nd floor south facing unit at Cristalla. Cristalla is simply one of Seattle’s most beloved condo projects. It was designed by Weber-Thompson, developed by Murray Franklin and completed in 2005.
This particular unit is a 1 bed + den, one bath corner unit that sits just 1 floor below the penthouse. Other features include:
| UNIT FEATURES | BUILDING AMENITIES |
|---|---|
| Big south facing views | 24 hour concierge |
| Stainless appliances, granite counters, gas cooktop | Grand lobby |
| Custom bathroom vanity | Pool, sauna wet & dry |
| Contemporary layout | Owners lounge |
| Deck/Balcony | Multiple view decks |
| Floor to ceiling glass windows | Workout facility |
| 5 piece master bath | Theatre room |
Clearly the impact of condos purchased between 2005-2009 is starting to rear its ugly head in Seattle. As values plummeted, owners started giving their keys back to the bank. Condo foreclosures are on the rise and in the upcoming weeks you could see foreclosures in some of the best buildings in Seattle and Bellevue. I’ve included a “short” list of buildings that will have units auctioned in the next 60 days:
| Bagley Lofts | Built in 2006 |
|---|---|
| Eastlake Condos & Lofts | Built in 2007 |
| 2200 Westlake | Built in 2005 |
| Mosler Lofts | Built in 2007 |
| Belltown Court | Built in 1995 |
| The Cosmopolitan | Built in 2007 |
| Cristalla | Built in 2005 |
| Washington Square | Built in 2008 |
| Library Square | Built in 2003 |
If you want to learn about investing at the Foreclosure Auction, contact us.
Project: Cristalla
Neighborhood: Downtown
This phenomenal west facing unit at Cristalla Condominiums was once listed at $2,095,000 in 2007. Now listed at $1,395,000 it offers remarkable views, great updating and a spacious interior. This 19th floor unit features scandinavian birch floors, 17th century acid etched steel frame doors, honed absolute black granite and views that leave you speechless. Glass/metal cabinets. Showcase kitchen.
UNIT FEATURES :
PROJECT AMENITIES :
View listings for sale, for rent or schedule a tour:
CRISTALLA WALKSCORE
DOWNTOWN LISTINGS
This year, one of my goals is to keep you all a bit more informed with the foreclosure market.
Going to auction tomorrow (Jan 28th) is a one bedroom at Lumen and a 1 bedroom at Cristalla on the 9th floor. I’ll be rolling out a specific mailing list feature soon. Until, then if you would like to learn more about how to buy a foreclosure contact us!
Here is a quick breakdown:
Lumen One Bedroom:
Cristalla One Bedroom:
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Cristalla (9th Floor)
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Contact Us | 206-794-1118
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