The Cosmopolitan built in 2007 has much to offer.
This 100 million plus project was built with much anticipation. I consider their sell-out in 2005 to be one of the last projects to really benefit from the reservation frenzy. The developer Morteson Construction worked with Miller Condominium Marketing to elicit full price sales, upgraded unit packages and an incredible amount of demand for the 253 available units.
The first 8 floors of the 34 story building is home to retail and parking for the residents. There are a total of 270 spaces. At the time of sale, additional parking was being sold between $25,000 t0 $35,000. The 253 condominium units start on the tenth floor one level above the 9th floor amenities. Those 9th floor amenities include a business center, owners lounge, spa and exercise facilities. The projects design was a combination of Mithun Architects + Designers + Planners and structural engineers Cary Kopczynski and Company.
Everything about the Cosmopolitan would seem to fit Seattle perfectly. However, the construction of a commercial project just west of the building has put a damper on the once perfect luxurious tower. A very controversial topic for well over a year amongst owners, the city planning office and the private sector led to a period of silence as Schnitzer Northwest proceeded with their development of a 36 story commercial tower (1918 eighth). Not only did it disrupt remarkable west facing views for the highly sought after wing of the building, but it has cast a pricing spell on the rest of the units for sale. Many owners trying to sell their units at the Cosmo, dealt withan incredible amount of uncertainty in pricing and had to fight the aftermath of their project sticking out like a sore thumb.
If any of you were to consider the Cosmopolitan as your next home, it would be foolish not to consider the damage that has been done. However, it has much to offer when considering the location, amenity package and the allure of high rise luxury living. Without much construction over the next few years, I anticipate that demand will increase once again for this special building.
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|Address:||819 Virginia St, Seattle|
|Bedrooms:||1, 2, Penthouse|
|Unit Size:||400’s-1800 plus|
WALKSCORE: _________________________________________________ [srp_profile lat=”” lng=”” address=”819 Virginia St” city=”Seattle” state=”WA” zip_code=”98101″][/srp_profile]