The Escala’s public design preview event is still two weeks away and anticipation is building. However, Escala has pre-released a number of units at special introductory pricing and a quite a few reservations have already been placed. Reservations can be made with a $10,000 deposit which converts to purchase & sale contracts in the Fall.
Prices for the design preview release on July 27th will be higher than the current release allotment. This is the most opportune time to reserve a unit for your next home or investment.
Here’s an illustration of a floor plan for floors 4-6. It’s a little difficult to see but there are 12 units, 4 on each end and 4 in the center. Even the one bedroom units on the lower levels have semi-private vestibules.
Click image for larger version:
For more information about the current release and pricing, please contact me.
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Escala released it’s second allotment of homes earlier this week to those who had 2nd or higher position reservations in the first release with price ranges approximately 10% higher.
Escala also updated it’s website with revised floorplans and renderings.
Updated 7/27/06
- Escala Condos – Midtown Seattle
- Escala Update
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July 28th, 2006 at 7:29 pm
Any idea how did the units go in ESCALA preview?
Any one went there? and what is the price range?
how you guys feel about te future appricaition for a one bed ..paying $500K is expensive
July 28th, 2006 at 10:22 pm
Rock – prior to the preview event Escala had released about 23% of the units and units went quickly with many 2nd & 3rd position reservations. Those 2nd & 3rd position holders were given priority reservations on the second release which brings the total released units to about 50% of the total.
As far as price ranges…the 3rd floor is the lowest residential level with 1 bds starting at $500K and 2 bds starting around $880k. Of course, the higher up, the higher the price range. Upper floor 2 & 3 bds units are all over $1.5 mil.
As far as appreciation, those who reserved during the first release have now seen about a 10% increase in value. For example, during the first release, a 4th floor 1 bd unit ranged from $440 to $489K. During the 2nd release, the same unit on the third floor ranges from $485 – $539K.
Given the uniqueness of this project I suspect it will continue to see a healthy valuation. However, other projects are planned and will be built and they may impact the overall market.