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Mosler Lofts Lawsuit Settled $8.5M, Homeowners Meeting

May 31, 2013 By Leave a Comment

293146 14 0 e1329849260576 Mosler Lofts Lawsuit Settled $8.5M, Homeowners Meeting

An owner at Mosler sent us the release below and gave us the green-light to share some details surrounding the settlement.

Truth be told, I attended the homeowners meeting last week when the settlement was announced. I enjoyed sitting in on the meeting and hearing the good news from the homeowners perspective. Mosler’s legal council, over 30 owners and even the developer (Schuster) were in attendance. The meeting agenda was thoughtful and thorough. I thought Mosler’s legal team did a fair job explaining the process and answering questions.

It was hard to withhold such good news for nearly a week, but out of the respect for the homeowners it was the right thing to do. It is my understanding that $8.5M was not only fair, but more than the owners needed to repair, fund reserves and pay their legal. Good time to buy in the building? Let me give you the short answer – Yes.

The Mosler Lofts Home Owners Association is pleased to announce settlement of the recent litigation between the Mosler Lofts HOA and Belltown Development Partners, developer of Mosler Lofts condominium.

Through the diligent efforts of all parties involved, including the Mosler Lofts Board of Directors (both past and present) represented by Jesse D. Miller and Zachary McIsaac, our legal team from Ashbaugh Beal, and assisted by many experts and investigators, this suit has been brought to closure with a settlement of just under $8.5M. 

The monies from the settlement will allow the Association to proceed with repairs, resolve construction defects, and deliver the quality building Mosler Lofts was intended to be. 

Needless to say, owners at Mosler Lofts are happy with the results of this settlement and look forward to re-focusing on our great community; barbeques and refreshments on the roof top, and neighborly conversations about careers and leisure.

The community is strong. The beautifully designed LEED Silver-certified building still stops tourists and locals alike in their tracks. We will now enjoy a confidence in structure and balance sheet that will carry us happily into the foreseeable future.

Please contact moslerlofts@gmail.com for further inquires.

Filed Under: All Condos, Belltown, Home, Mosler Lofts Tagged With: , , , ,

Breaking News – Construction Defect Settlement At Mosler Lofts

May 22, 2013 By 1 Comment

Mosler Settlement Breaking News Construction Defect Settlement At Mosler Lofts

Breaking news coming from the homeowners meeting at Mosler Lofts.

Out of respect to the board, the owners and their legal council, we will withhold detailed information until they have an opportunity to press release. What we can say is that a settlement has been reached which is GREAT for homeowners at Mosler and buyers in the city that hope to finance at the coveted 2007 built condo project.

We will be following up soon with more details.

mosler Breaking News Construction Defect Settlement At Mosler Lofts

Filed Under: Uncategorized Tagged With: , , , , , ,

Just Listed | Loft Living In Belltown

May 6, 2013 By Leave a Comment

JUST LISTED

24997 2 1 Just Listed | Loft Living In Belltown

Mosler Lofts | 1 Bedroom
2720 3rd Ave #607| MLS #482808
 $279,950

1 bed | 1 bath

Belltown

Enjoy urban living in this chic 1 bedroom loft. Wall of windows featuring city lights and great views of the Space Needle. The award winning Mosler Lofts is full of incredible amenities. Concierge services, grand lobby, lounge, library, fitness facility, secured garage, secured entry from all areas of a the building & an incredible rooftop deck. Just steps away from Myrtle Edwards park, the SAM sculpture park & all the restaurants & night life the city has to offer. Just 4 blocks west of SLU.

24997 3 1 300x200 Just Listed | Loft Living In Belltown 24997 4 1 300x200 Just Listed | Loft Living In Belltown 24997 5 1 300x200 Just Listed | Loft Living In Belltown

24997 8 1 150x150 Just Listed | Loft Living In Belltown 24997 7 1 150x150 Just Listed | Loft Living In Belltown 24997 6 1 150x150 Just Listed | Loft Living In Belltown 24997 9 150x150 Just Listed | Loft Living In Belltown 24997 10 150x150 Just Listed | Loft Living In Belltown

 

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jeffjreynolds 300x282 Just Listed | Loft Living In Belltown

Jeff J Reynolds
206.794.1118
jreynolds@urbanimg.com

Do you know of anyone looking to Buy or Sell real estate?

Jeff Contact Us Just Listed | Loft Living In Belltown

Windermere Real Estate/East, Inc.
3933 Lake Washington Blvd NE #100
Kirkland Wa 98033
www.UrbanCondoSpaces.com

UCSPNG e1329169611416 Just Listed | Loft Living In Belltown

 

Filed Under: All Condos, Belltown, Home, Mosler Lofts Tagged With: , ,

Just Listed | 11th Floor Belltown Loft

January 16, 2013 By Leave a Comment

JUST LISTED

23878 2 1 Just Listed | 11th Floor Belltown Loft 23878 3 1 Just Listed | 11th Floor Belltown Loft

23878 9 Just Listed | 11th Floor Belltown Loft 23878 10 Just Listed | 11th Floor Belltown Loft

CHIC BELLTOWN LOFT
One Floor Below The Penthouse
2720 3rd Ave #1103
MLS # 437578
$2,750
1 bed | 1.5 bath

Belltown | Mosler Lofts 

Urban living in this chic 1 bed, 1.5 bath loft. Wall of windows featuring city lights and great views of the Space Needle, sound & QA Hill. Award winning Mosler Lofts is full incredible amenities. Concierge services, grand lobby, lounge, library, fitness, secured garage, secured entry from all areas of a the building & an phenomenal rooftop deck. Just steps away from Myrtle Edwards park, the SAM sculpture park & all the restaurants and night life the city has to offer. Just 4 blocks west of SLU

23878 11 150x150 Just Listed | 11th Floor Belltown Loft 23878 8 Just Listed | 11th Floor Belltown Loft 23878 7 1 Just Listed | 11th Floor Belltown Loft 23878 6 1 Just Listed | 11th Floor Belltown Loft 23878 5 1 Just Listed | 11th Floor Belltown Loft

23878 1 1 Just Listed | 11th Floor Belltown Loft 23878 4 1 Just Listed | 11th Floor Belltown Loft

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jeffjreynolds 300x282 Just Listed | 11th Floor Belltown Loft

Jeff J Reynolds
206.794.1118
jreynolds@urbanimg.com

Do you know of anyone looking to Buy or Sell real estate?

Jeff Contact Us Just Listed | 11th Floor Belltown Loft

Windermere Real Estate/East, Inc.
3933 Lake Washington Blvd NE #100
Kirkland Wa 98033
www.UrbanCondoSpaces.com

UCSPNG e1329169611416 Just Listed | 11th Floor Belltown Loft

Filed Under: 3rd, All Condos, Belltown, Clay, Condos For Lease, Home, Mosler Lofts, Streets Tagged With: , , , , ,

Loft Listing At Mosler, Once Listed at $809,900, Now $422,000

December 18, 2012 By Leave a Comment

293146 14 0 e1329849260576 Loft Listing At Mosler, Once Listed at $809,900, Now $422,000

A cool new loft just hit the market at Mosler Lofts.

In 2009 unit #TH-5 was listed as high as $809,900 – now just $422,000. It is a short sale which requires 3rd party approval (from the bank), but at $270 per foot, I could see how this unit might make some sense for end users or investors. It has 1,563 sq ft, 2 bedrooms and 1.5 baths.

Want to see more?  Check out the details here.

Loft Listing At Mosler, Once Listed at $809,900, Now $422,000

MOSLER LOFTS INFORMATION UCS PROJECT GRADEGRADEAMENITIES
ADDRESS 2720 3rd Ave LOCATIONA-24 Hour Concierge
BUILT2008AMENITIES BFitness Facility
BUILDING Concrete and Steel Construction PRICEBLounge
NEIGHBORHOOD BelltownLUXURY B+Rooftop Deck
UNITS 148BUILDING CONSTRUCTION ASecure parking
DEVELOPER Schuster GroupUNIT DECOR A-Secured building
ARCHITECT Mithun Architects + Designers + PlannersWALKABILITY ARetail
Filed Under: All Condos, Belltown, Home, Mosler Lofts Tagged With: , , , , , ,

What $500,000 Will Get You In The Seattle Condo Market

October 25, 2012 By Leave a Comment


Let’s take a look at what $500,000 will get us in the Seattle condo market today:

URBAN HIGH RISE – Downtown Seattle
737 Olive Wy #3304, Seattle
ASKING PRICE – $495,000

olive8 exterior What $500,000 Will Get You In The Seattle Condo Market Olive 8 What $500,000 Will Get You In The Seattle Condo Market

Olive 8 is project built in 2009 that offers a “In-city Resort Lifestyle”. It has a fitness center, day spa, 65′ lap pool, out-door terrace and 24 hour concierge services. Unit #3304 is a 680 sq. ft one bedroom with east facing views. It offers bamboo flooring, oak Pedini Cabinets and slab granite counters. 33 floors above the city, unit #3004 features 52 sq. ft. of outdoor space as well.

INDUSTRIAL/CONTEMPORARY LOFT –  Belltown
2720 3rd Ave #908, Seattle
ASKING PRICE – $515,000

Mosler Lofts Interiors 500000 e1351074494203 What $500,000 Will Get You In The Seattle Condo Market

Mosler Lofts is an award winning project at the Northend of Belltown. Built in 2007, Mosler sold its inventory quickly in the pre-recession real estate fury. The architecture, simple interiors, amenities and location make Mosler Lofts stand out. Unit #908 offers 989 square-feet, an island kitchen and corner exposure adding tons of natural light to the space. See more photos here

VIEWS FROM BALLARD LOCKS – Ballard
3100 W Commodore Wy #403, Seattle
ASKING PRICE – $500,000

Ballard Locks Views e1351151691836 What $500,000 Will Get You In The Seattle Condo Market

A waterfront penthouse with views of the Ballard Locks. Over 2,400 sq. ft. of livings space. Wall of windows, hardwood floors and sunroom with skylights. Updated island kitchen with corian counters, gas cooktop and tons of storage. Amenities include a pool, hot-tub, sauna and secured entry. Unit also includes 2 parkings spaces and storage. See more photos here

Search Seattle Condos

Filed Under: All Condos, Belltown, Denny Triangle, Home, Mosler Lofts, Olive 8 Tagged With: , , , , , ,

Just Leased, Mosler Lofts #607

February 26, 2012 By Leave a Comment

UPDATE
We just leased this property in less then 30 days.  Check out our announcement below that goes out to friends, family and colleagues. If you would like to receive these as well, we’ve added a sign in box below. If you would like to learn more about our condo and home leasing service click here.

JUST LEASED

Front Just Leased, Mosler Lofts #607

2720 3RD Ave #607, Seattle
Mosler Lofts
$1,595
1 bed | 1 bath
Belltown – Downtown Seattle

We successfully leased this open 1 bedroom in less then 30 days

Enjoy urban living in this chic 1 bedroom loft. Wall of windows featuring city lights and great views of the Space Needle. The award winning Mosler Lofts is full of incredible amenities. Concierge services, grand lobby, lounge, library, fitness facility, secured garage, secured entry from all areas of a the building & an incredible rooftop deck. Just steps away from Myrtle Edwards park, the SAM sculpture park & all the restaurants & night life the city has to offer. Just 4 blocks west of SLU.

Learn More About This Property | View this property on Facebook: Just Listed | Follow us on Facebook!

jeffjreynolds 300x282 Just Leased, Mosler Lofts #607

Jeff J Reynolds
206.794.1118
jreynolds@urbanimg.com

Do you know of anyone looking to Buy or Sell real estate?

Jeff Contact Us Just Leased, Mosler Lofts #607

Concierge1 150x150 Just Leased, Mosler Lofts #607  Lobby 150x150 Just Leased, Mosler Lofts #607  Meeting Room 150x150 Just Leased, Mosler Lofts #607  Exercise Room 150x150 Just Leased, Mosler Lofts #607   IMG 0510 150x150 Just Leased, Mosler Lofts #607  IMG 0511 150x150 Just Leased, Mosler Lofts #607  IMG 0512 150x150 Just Leased, Mosler Lofts #607  IMG 0513 150x150 Just Leased, Mosler Lofts #607  IMG 0514 150x150 Just Leased, Mosler Lofts #607  IMG 0520 150x150 Just Leased, Mosler Lofts #607  IMG 0526 150x150 Just Leased, Mosler Lofts #607

We have a list of readers, clients, friends and family that receive all of our Just Listed/Just Sold announcements like you see above.  If you are interested in seeing the properties that we list, sell or rent throughout the year, then simply add your e-mail to the box below and you’ll be included on all future e-mails.

View Other Downtown Condos (For Sale and Rent)

Filed Under: All Condos, Belltown, Condos For Lease, Home, Mosler Lofts Tagged With: , , , , , , , ,

Rental At Mosler Lofts, Hitting The Market This Week

February 21, 2012 By Leave a Comment

293146 14 0 e1329849260576 Rental At Mosler Lofts, Hitting The Market This Week

For those of you looking for a rental, I’m going to be bringing on a 1 bedroom unit at Mosler Lofts, towards the end of the week. It has close to 700sf with a nice view of the Space Needle and tons of natural light. It has a spacious layout, over-sized bathroom and a custom closet system left by the seller. The rent will include a parking stall, water, sewer and garbage. Electricity, cable and telephone are not included. The building has a concierge, library, lounge, business center, fitness facility and a huge roof-top deck. See the panoramic photos below. If you would like to learn more about the unit or to be included in the e-mail when the listing goes “live”,  you can register by following the link below or by clicking here.

For those of you unfamiliar with Mosler Lofts, it was built in 2007 and is located in the Northend of Belltown.

Project Details Button Rental At Mosler Lofts, Hitting The Market This Week

MOSLER LOFTS INFORMATION UCS PROJECT GRADEGRADEAMENITIES
ADDRESS 2720 3rd Ave LOCATIONA-24 Hour Concierge
BUILT2008AMENITIES BFitness Facility
BUILDING Concrete and Steel Construction PRICEBLounge
NEIGHBORHOOD BelltownLUXURY B+Rooftop Deck
UNITS 148BUILDING CONSTRUCTION ASecure parking
DEVELOPER Schuster GroupUNIT DECOR A-Secured building
ARCHITECT Mithun Architects + Designers + PlannersWALKABILITY ARetail

 

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Water View Pan Rental At Mosler Lofts, Hitting The Market This Week

Inland View Pan Rental At Mosler Lofts, Hitting The Market This Week

Filed Under: All Condos, Belltown, Condos For Lease, Home, Mosler Lofts Tagged With: , ,

Wall of Windows At Mosler Lofts

November 9, 2011 By Leave a Comment

293146 2 3 1024x682 Wall of Windows At Mosler Lofts

As I was going through my daily inventory yesterday, I noticed unit #1108 at Mosler Lofts. What a cool unit. First and foremost, it is a corner unit. Corner units are incredible because you have double exposure and double the views. It has a wall of windows, island kitchen, exposed concrete ceilings, its own private deck and big views. In my opinion, this is a unit worth checking out.  It is the original owner selling the unit. It was purchased for $610,000 in 2007.  Now offered at $525,000.

Check it out here.  Thanks to M. Doyle, our friend and a loyal reader for sharing the pictures.

MOSLER LOFTS INFORMATION UCS PROJECT GRADEGRADEAMENITIES
ADDRESS 2720 3rd Ave LOCATIONA-24 Hour Concierge
BUILT2008AMENITIES BFitness Facility
BUILDING Concrete and Steel Construction PRICEBLounge
NEIGHBORHOOD BelltownLUXURY B+Rooftop Deck
UNITS 148BUILDING CONSTRUCTION ASecure parking
DEVELOPER Schuster GroupUNIT DECOR A-Secured building
ARCHITECT Mithun Architects + Designers + PlannersWALKABILITY ARetail

 

Filed Under: All Condos, Belltown, Home, Mosler Lofts Tagged With: , , , , , , , ,

Bank Owned Unit At Mosler Lofts

August 5, 2011 By Leave a Comment

Mosler Lofts Belltown e1271301433338 Bank Owned Unit At Mosler Lofts

If your out shopping for a Seattle condo this weekend, you may want to check out this bank owned unit at Mosler Lofts.  Just weeks ago it was listed as a short sale. Now listed as Fannie Mae owned, #311 is back on the market at $239,000. It originally sold for $376,000 in December of 2007.

MOSLER LOFTS INFORMATION UCS PROJECT GRADEGRADEAMENITIES
ADDRESS 2720 3rd Ave LOCATIONA-24 Hour Concierge
BUILT2008AMENITIES BFitness Facility
BUILDING Concrete and Steel Construction PRICEBLounge
NEIGHBORHOOD BelltownLUXURY B+Rooftop Deck
UNITS 148BUILDING CONSTRUCTION ASecure parking
DEVELOPER Schuster GroupUNIT DECOR A-Secured building
ARCHITECT Mithun Architects + Designers + PlannersWALKABILITY ARetail

Check out the listing here:

Mosler 3111 Bank Owned Unit At Mosler Lofts

Filed Under: All Condos, Belltown, Home, Mosler Lofts Tagged With: , , , , , , ,

Mosler Lofts Unit Back On The Market, Bank Owned

June 5, 2011 By Leave a Comment

Mosler Unit 411 e1307301659614 Mosler Lofts Unit Back On The Market, Bank Owned

 

 

 

 

 

 

 

 

 

 

Project: Mosler Lofts
Neighborhood: Belltown

Do you recognize this unit?  Unit #411 at Mosler Lofts, is back on the market with the legal owner titled as “Federal Natl Mtg Assn Fnma” (Fannie Mae). It is the federal government that is now selling this Seattle condo.  Interesting huh?  We’ll see a lot more of these in the future as well.

With this particular unit, listed at $295,800, they are offering what is referred to as “HomePath” financing.  HomePath allows a borrower to purchase a Fannie Mae-owned property with a low down payment.  It also allows more flexible mortgage terms, it does not require a lender-requested appraisal and there is no mortgage insurance as well.  In addition, there are expanded seller contributions to closing costs in certain transactions.  According to the HomePath Financing website, the benefits to a borrower are as follows:

  • Low down payment and flexible mortgage terms (fixed–rate, adjustable rate, or interest–only).
  • Down payment (at least 3 percent) can be funded by the borrower’s own savings; a gift; a grant; or a loan from a nonprofit organization, state or local government, or employer.
  • No lender-requested appraisal.
  • No mortgage insurance; ask your lender for cost details on loans without mortgage insurance.
  • Expanded seller contributions for closing costs allowed.
  • Available for primary residences, second homes and investment properties.
  • Many condo project requirements are waived; ask your lender for details.

Have more questions?  Don’t be afraid to ask.

Filed Under: All Condos, Belltown, Home, Mosler Lofts Tagged With: , , , , , , ,

Mosler Lofts Studio Went Back To The Bank

April 3, 2011 By Leave a Comment

Mosler Lofts Exterior Mosler Lofts Studio Went Back To The Bank

Did you see our post on Friday about the Molser Lofts unit going to auction?  See here.

It had a minimum bid from the bank (Wells Fargo) at $169,090.  No one even bid on it.  So it will now go back to Wells Fargo and we can expect to see it on the market “banked owned” or how its often referred too as an REO.  If you want to see pictures of the unit it is still being marketed on the MLS for $219,000 This will happen from time to time because the broker and the owner were not aware that the unit was going to auction.

So for me the question is this; If most of us knew that the “fair market value” of this condo was just below $198,000. Would we buy it? Investors didn’t buy it because their margins for re-selling the condo are too thin. Could it work for an end-user though?  One of us could have went the auction, bought the unit for $169,091 and walked away with a very competitively priced studio right in the heart of Belltown.  So was this a good deal?

Side note: This unit was purchased for $335,650 in November of 2007.

MOSLER LOCATION:

View Seattle Condo Map in a larger map

Filed Under: All Condos, Belltown, Home, Mosler Lofts Tagged With: , , , , , ,

In The Next 60 Days, Multiple Seattle Condos Will Headed To Foreclosure Auction

February 24, 2011 By Leave a Comment

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 LoftsBuilt in 2006
Eastlake Condos & Lofts Built in 2007
2200 Westlake Built in 2005
Mosler Lofts Built in 2007
Belltown CourtBuilt in 1995
The Cosmopolitan Built in 2007
CristallaBuilt in 2005
Washington SquareBuilt in 2008
Library Square Built in 2003

 

bagley.exterior 150x150 In The Next 60 Days, Multiple Seattle Condos Will Headed To Foreclosure Auction Exterior 150x150 In The Next 60 Days, Multiple Seattle Condos Will Headed To Foreclosure Auction Exterior1 150x150 In The Next 60 Days, Multiple Seattle Condos Will Headed To Foreclosure Auction rsz mosler lofts belltown 150x150 In The Next 60 Days, Multiple Seattle Condos Will Headed To Foreclosure Auction belltown.court 150x150 In The Next 60 Days, Multiple Seattle Condos Will Headed To Foreclosure Auction Cosmopolitan Night 150x150 In The Next 60 Days, Multiple Seattle Condos Will Headed To Foreclosure Auction Exterior2 150x150 In The Next 60 Days, Multiple Seattle Condos Will Headed To Foreclosure Auction rsz washington square 150x150 In The Next 60 Days, Multiple Seattle Condos Will Headed To Foreclosure Auction Library Square.Bellevue 150x150 In The Next 60 Days, Multiple Seattle Condos Will Headed To Foreclosure Auction

If you want to learn about investing at the Foreclosure Auction, contact us.

Filed Under: 2200 Westlake, All Condos, Bagley Lofts, Bellevue, Belltown, Cosmopolitan, Cristalla, Denny Triangle, Eastlake, Eastlake Lofts, Home, Library Square, Mosler Lofts, Retail Core, Wallingford, Washington Square, West Edge Tagged With: , , , , , , , , , , , , ,

Mosler Lofts Bank Owned Update

November 26, 2010 By 2 Comments

photoGallery051 Mosler Lofts Bank Owned Update

Ok, so I have a GREAT update on a good buy at Mosler Lofts.  You may recall a post I wrote a few weeks ago about unit #403 at Mosler Lofts (Foreclosure at Mosler Lofts).  Well, it did not sell at foreclosure auction, but is back on the market “Bank Owned”.

What I mean by that is; if a bank doesn’t get what it wants at auction, they will take the property back on their books and will sell it at a price that they see fit.  What is amazing about this situation is that the bank is now selling the property at $85,000 less then what they wanted at auction.  In my opinion this is showing the commitment that Fannie Mae has to get this property off their books.  Although this unit is on the small side (644sf) it is selling at 427psf .  I would consider this a good buy.  Keep in mind you don’t have to offer the list price of ($275,000).  It is in a class “A” project (Mosler Lofts), with good upside. The only downside to Belltown at the moment is the well publicized crime. I don’t think that will last forever. Plus, this is on the North end of Belltown.

Quick Facts:

  • The average cost per square foot of SOLD units at Mosler is $458.73 (See below. Over the last 180 days)
  • Mosler is a steel and concrete building
  • 148 units
  • Amenities include concierge, grand entry, fitness studio, business center, library and rooftop deck.

Screen shot 2010 11 26 at 9.47.21 AM Mosler Lofts Bank Owned Update

I love these Panoramics.  I took them last year form the rooftop deck.

Inland View Pan Mosler Lofts Bank Owned Update

Water View Pan Mosler Lofts Bank Owned Update

Filed Under: All Condos, Bank Owned, Belltown, Home, Market News/Trends, Mosler Lofts Tagged With: , , , , , ,

Top 5 Condo Exteriors

November 8, 2010 By 1 Comment

There just something about a really good looking condo building.  I tend to gravitate towards buildings with a lot of glass, steel and concrete. I’ve added my top 5 condo exteriors and I want you to vote!  What is your favorite?

You can vote once on each building (1-5 Stars).  Check back in to see the results!

Bellevue Towers
1 320x240 bellevuetowers big Top 5 Condo Exteriors

Bellora
2 320x240 bellora night Top 5 Condo Exteriors

Enso
3 320x240 exterior Top 5 Condo Exteriors

Mosler
4 320x240 mosler Top 5 Condo Exteriors

1521
5 320x240 1521 exterior Top 5 Condo Exteriors

Filed Under: 1521, All Condos, Bellevue, Bellevue Towers, Bellora, Belltown, Enso, Home, Mosler Lofts, South Lake Union, West Edge Tagged With: , , , , , , , ,
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Windermere Real Estate/East, Inc.
3933 Lake Washington Blvd NE #100 Kirkland Wa 98033
www.UrbanCondoSpaces.com
Seek. Live. Urban.