Seattle Condo Blog | Urban Living
We found something interesting while reviewing new project news this week. The developer of the new apartment building planned at 6th and Wall, had something very fascinating to say in a recent interview. When commenting on the decision to build apartments vs. condos, Paul Menzies the CEO of Laconia Development was quoted in the PSBJ as saying: "The market hasn't risen back … [Read more...]
Breaking news on a new condo/hotel project planed for 1121 Stewart St. According to Nat Levy of the Daily Journal of Commerce, RBF Property Group is a planning a 440 foot tower at the intersection of Stewart and Minor. It will feature 78 hotel rooms with the top of the building featuring condos. This would be the second condo project built in the downtown core since Escala, … [Read more...]
After almost 6 years of being on the market, unit #1501 at Four Seasons, just went under contract. Originally listed for $8,706,000, #1501 is currently listed for $6,300,000. It has 4,131 sq.ft. of west facing views - offering 2 bedrooms, 2.5 baths. There are still 6 units available for sale that have never been lived in - Four Seasons was built in 2008. … [Read more...]
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...]
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...]
There is a new rental in Downtown Seattle that is catching everyone's attention. Previously listed for $2,300,000, this 19th floor, 2,730sf unit at Millennium Tower is now available at a price of $9,500 per month. There are just 19 units in the building and each of them have a unique interior. Millennium Tower was also home to convicted swindler Frederick Darren … [Read more...]
The prices at the Cosmopolitan at 9th and Virginia are inching back to and above their 2007 levels. Unit #2103 just hit the market this morning with an asking price of $429,000. In Purchased in 2007 for $425,950. This is significant as 2007 was often recognized as the peek of the market before the crash. In last 18 months, the Downtown condo market has increased quickly due … [Read more...]
After briefly going off the market, Penthouse 6 at Mosler is back with a $50,000 reduction in price. Located 12 stories above the street, PH6 features 2 bedrooms, 1.75 bathrooms and 1,529sf. It is offered at $1,345,000. See more details here - Mosler PH6 [table id=27 /] [photos c/o our buddy MD] … [Read more...]
Condo prices have gone up significantly, and some recent Downtown Seattle condo sales prove it. Take a look at unit #1710 at Escala - sold for the second time yesterday (December 9th) to an all cash buyer paying $549,000. In November of 2011, this same unit sold for $432,000. Given the lackluster inventory, this is exactly what we predicted - the best of breed will continue … [Read more...]
Every once in a while, I like to highlight the most expensive condo sales in Downtown Seattle. Last month (September), there were 43 condo sales in area 701 (Downtown Seattle). The top 5 most expensive sales were the following: 1) Escala Unit #2205 – Downtown Seattle | MLS #419763 Sale Price – $1,324,000 Size: 1,955 | Price per square foot: $677 Bedroom 2 | Bath … [Read more...]
Check out this view - #3801 at 1521 Second Ave just hit the rental market for $12,000 per month. Don't we all want to have hot-tub to go with our penthouse view? This 2 bedroom, 2 bath Seattle condo offers 2,453sf of luxury high-rise space. Floor to ceiling windows, outdoor fireplace and monster views. See more photos here … [Read more...]
Had a question from a reader this week about how often condos are selling for full price or above the asking price. I pulled the last 30 days of sales in the downtown Seattle market and this is what I came up with. In the $500,000 price point ($500,000 or less): There were 23 sales of 1 bedroom units - of those 23 recorded sales 13 or %50 of them were sold at full price … [Read more...]
Are condos selling on Capitol Hill? YES. In the last 60 days, there have been 56 condo sales. Almost one sale per day. That is a pretty impressive number. So whats left in terms of active inventory? The number of active condo listings on the Hill is 37 units. They range in price from $115,000 to $1,749,000. I've built a graph to show the (Active) inventory: … [Read more...]
Listen up Seattle condo owners - there are 19 units for sale priced at $400,000 or less - that's right, (19). Now consider this: Out of the 19 available units, 8 of those condos are in buildings facing litigation. If you've read our post from a few weeks ago, most banks will not lend to borrowers on these projects. The only alternative is someone who is willing to pay … [Read more...]
Thomas Hazelrigg who was a long time friend and business associate of Mike Mastro has a condo going to foreclosure today. Mastro was the local real estate mogul gone broke that was recently in the news for being apprehended in France by the US authorities. Hazelrigg who made a career of "hard money" lending borrowed millions from Mastro and is now subject to bankruptcy … [Read more...]
