Are you guys familiar with the Regata? You may have noticed a number of new listings hitting the market in the last few weeks. It is due to the fact that the building (3 total) just went through a major re-construction of its siding, windows and exterior elements. Since late last year, the building has been wrapped in plastic. In this particular situation, the homeowners association benefited from a lawsuit against the developer. They sued the developer to pay for anticipated repairs. In doing so, they received somewhere in the neighborhood of $15,000,000.
I personally love the building. It has a great location, big views of Lake Union and Downtown and should be considered a safe option for Seattle condo buyers. One of my clients bought a unit in the building in Spring of last year and I think it was a brilliant idea. We knew that the building was going to be wrapped up and therefore benefited from heavily discounted pricing offered by the seller. Now, that the building has re-emerged with a new exterior & windows, it is clear to me that the investment has paid off. There are a few units have just hit the market. Take a look below: