Comments on: Moda Apartments

By: Sally

Sally — Sun, 20 Dec 2009 14:41:16 +0000

This is going on everywhere now. My guess is it will continue to go on until the market picks up. A lot of condo owners obviously dont want to sit empty. I read on Back Bay Apartments there were about 5-6 condo buildings that went straight to apartment buildings, which will built capital under sales pick up.

By: Frank

Frank — Tue, 08 Sep 2009 03:31:32 +0000

A lot of condo buildings in Boston are converting into apartments too. The same thing with other major cities. I heard in San Diego there are 1200 condos all new just sitting there in downtown san diego alone. I also read an article on Boston Apartments saying many of the new condo developments are planning on going condo just for now. I bet things will pick up soon and definitely start selling again.

By: annonymous-resident

annonymous-resident — Sat, 29 Aug 2009 02:07:29 +0000

I agree with the post two up on the run down nature of the complex. The management has let the building go in the past 8 months it has been open. once you move in you too will notice where corners were cut and dollars saved to turn this place over as fast as possible. Management has been notified of all the problems from multiple residents, yet they overlook them all and turn a blind eye.

Security is not 24 hours, there is in fact no security except a response unit that works for multiple buildings in the Belltown area.

By: Tyrone

Tyrone — Mon, 17 Aug 2009 05:40:43 +0000

Not sure why people are so quick to point the finger at the construction management side of things.

I was actually positioned to purchase a unit but of course that fell through when they converted to appartments.

Here’s a quick and dirty summary.
- Quickly Sold – When the units were initially sold, they sold so quickly because they were priced so well compared to comparable units, new or existing construction. Buyer driven demand.
- Sq Footage – the square footage of the building was determined based on the drawings for the site before construction broke ground, which means the City of Seattle can walk in at any time and tell you to alter something in order to get permits for the next phase of construction. It is just how it is.
- Market Colapse – Okay, the units sold in 3 days so we know the demand is there. The market colapse meant there is more stringent requirements on buyers by the banks in order to qualify for financing. This is not the developer. This is not something on the part of the buyers who did anything wrong. It is the economic environment as things ‘really’ are.
- conversion to condos – who wants to live in an 80% empty building even if you do own a condo unit. This is rediculous. The sheer economics of it is plain and simple, money in vs. money out must be in balance. In order to maintain the building, ammenities, etc. they would have to do something in order to keep the building well maintained.

I looked at the models for an appartment the other day and am considering moving in.

Not quite sure what the person in the above comment meant by ‘run-down’.
The furnishings in the units are quite nice. Brand new marble counter tops, matching stainless steel appliances and they have a nice roof top deck with BBQ; wet bar; outdoor fire place and an off-leash pet area (who knew that possible). They also have 24 hour security.

I’ll likely sign depending on whether work requires me to relocate within the next year or not.

Pretty nice building.

By: annonymous

annonymous — Tue, 14 Jul 2009 10:28:01 +0000

Don’t waste your time or money, Moda is way overpriced and built very cheaply. The building is still new but so dirty it looks like an old motel. Things are falling apart already such as nails coming out of the walls. No screens on the windows, sliding glass door locks do not work, and have not been fixed despite multiple reports to the management. ETC, ETC, ETC

like I said, do not waste your time or money!

By: Moda Condo - Update | The Seattle Condo Blog

Moda Condo - Update | The Seattle Condo Blog — Sat, 18 Apr 2009 19:15:32 +0000

[...] UPDATE: Moda is converting to apartments. [...]

By: Robert

Robert — Sat, 13 Sep 2008 07:12:28 +0000

thats’ crazy!

By: Ben_Kakimoto

Ben_Kakimoto — Tue, 09 Sep 2008 21:45:43 +0000

Updated the post with Moda rental prices. Ouch. Thanks Ashley.

By: Robert

Robert — Sun, 31 Aug 2008 10:09:25 +0000

Does anyone know when they will set the prices for Moda Apartments?

By: Grace

Grace — Wed, 20 Aug 2008 05:15:55 +0000

Thank you, Ben! Very Helpful.