The Pontedera Condominium, situated just south of Downtown Seattle at 827 Hiawatha Place just reduced prices significantly on a number of units. The price drops range from $10,000 up to nearly $60,000 per unit! Good thing, too, since there’s only been 18 closed sales out of 102 unts, with only 2 sales in the past year, per NWMLS & county records.

It’s a shame really since Pontedera was nicely designed and accented, plus it’s conveniently located to downtown, Capitol Hill and the International District. Home prices start from $174,900 and there are several incentives and programs geared to first-time and lower income home buyers, including down payment assistance, property tax exemptions for qualified buyers and no HOA dues for a year. Its worth checking out.

View available Pontedera Condo homes for sale

1111 E Pike Street – Capitol Hill

The Tom Kundig designed 1111 E Pike Street Condominium is down to the final three homes for sale. The uniquely designed boutique condo building is located in the heart of Capitol Hill’s trendy and vibrant Pike Pine Triangle. Homes start from $314,950. Own for less than comparable Cap Hill apartments rent for!

View the last remaining 1111 E Pike condos for sale

Hjarta Condominium – Ballard

Ballard’s green constructed concrete and steel Hjarta Condominium reports they are now over 75% sold. Per NWMLS records, Hjarta closed 25 units, just over 30% of its homes in 2011.

Hjarta is located at 1530 NW Market and is one of only two new constructed condominiums in Ballard. Hjarta’s new home prices start from $264,950.

View Hjarta condos for sale

Marselle Condominium – Lower Queen Anne / South Lake Union

The Marselle Condomium report they have sold 100 homes, or 75%, since opening, with 21 home sales in 2011. Marselle features a variety of floor plans ranging from open one-bedrooms to 2-story three-bedroom penthouses with soaring ceilings.

Marselle is located at 699 John Street in the shadow of the Space Needle…a great place to call home for those who work in downtown or South Lake Union. Home prices begin from $199,990.

View Marselle condos for sale

Danielle Condominium – Ballard

Ballard’s other new construction condominium, the Danielle, is down to its final three homes for sale — 2 one-bedroom units and a two-bedroom. Located at 5803 24th Ave NW, it’s close to Ballard’s many shops, restaurants and attractions. The remaining homes range from $219,950 to $479,950.

View Danielle condos for sale

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The total dollar sales volume increased 1.9% from $103,761,956 to $105,709,480, while the average price per square foot reduced 11.9% from $774 to $682. The average home size just barely shrunk from 2,286 to 2,281 square feet.

Here’s a look at the Top Ten most expensive Seattle closed condo sales in 2011:

• Price range: $1,765,000 to $3,167,440
• Average price per square foot: $903
• Number of bedrooms: seven 2-bedrooms and three 3-bedrooms
• Average size: 2,859 square feet
• Location: Downtown Seattle & Queen Anne

Compared to 2010′s top ten Seattle condo sales, the homes were smaller and less expensive.

#1 – Fifteen Twenty-One: $3,167,440

1521 2nd Ave #3103 | Downtown Seattle – 2,658 square feet, 2 bedroom, 2.25 baths

View available Fifteen Twenty-One condos for sale

#2 – Fifteen Twenty-One: $3,134,889

1521 2nd Ave #3500 | Downtown Seattle – 2,602 square feet, 2 bedroom, 2.25 baths

View available Fifteen Twenty-One condos for sale

#3 – Fifteen Twenty-One: $3,050,000

1521 2nd Ave #3000 | Downtown Seattle – 2,602 square feet, 2 bedroom, 2.25 baths

View available Fifteen Twenty-One condos for sale

#4 – Fifteen Twenty-One: $2,990,000

1521 2nd Ave #3200 | Downtown Seattle – 2,602 square feet, 2 bedroom, 2.25 baths

View available Fifteen Twenty-One condos for sale

#5 – Millennium Tower: $2,690,000

715 2nd Ave #1501 | Downtown Seattle – 4,589 square feet, 3 bedroom, 2.25 baths

View available Millennium Tower condos for sale

#6 – Escala Condominium: $2,200,000

1920 4th Ave #2401 | Downtown Seattle – 3,562 square feet, 3 bedroom, 3.25 baths

View available Escala condos for sale

#7 – 200 West Highland: $2,100,000

200 West Highland #202 | Queen Anne – 2,406 square feet, 2 bedroom, 2 baths

View available 200 West Highland condos for sale

#8 – Millennium Tower: $1,950,000

715 2nd Ave #1902 | Downtown Seattle – 2,720 square feet, 2 bedroom, 2.25 baths

View available Millennium Tower condos for sale

#9 – Escala Condominium: $1,925,000

1920 4th Ave #2903 | Downtown Seattle – 2,442 square feet, 3 bedroom, 2.5 baths

View available Escala condos for sale

#10 – 200 West Highland: $1,765,000

200 West Highland #402 | Queen Anne – 2,406 square feet, 2 bedroom, 2 baths

View available 200 West Highland condos for sale

Expanding the list to include the top ten most expensive condos in the region last year, the list would include three Eastside condo sales:

5505 Lake Washington Blvd #2-C, Kirkland sold for $3,249,000
500 106th Ave NE #4005, Bellevue sold for $2,220,000
10700 NE 4th St #4104, Bellevue sold for $2,062,000

Source: NWMLS and King County, all sales data are in the public domain

Related story: 2010 Top Ten Most Expensive Seattle Condo Sales

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Marselle Condominium
The Marselle Condominium has surpassed the 100 unit sales mark and is now over 75% sold. The new construction condominium near the Seattle Center still has a number of great single level flats and two-story townhome penthouses available. Prices start from $219,990.

One Main Street Condominium
The One Main Street Condominium near Downtown Bellevue recently reduced prices up to $30,000 on select one-bedroom plus den homes, which now begin at $379,900. Regular one-bedroom homes start from $299,900.

Land Use Action
The Seattle DPD approved a couple of notable proposed apartment developments in Belltown. This morning the DPD approved the 27-story development next to the Seattle Heights Condominium at 225 Cedar Street. The current proposal is for a tower at the NE corner of the block at the site of the American Lung Association building. Eventually, the development will encompass the entire east half of the block. Across the street, the Alto apartment building is currently under construction. View decision (pdf).

A few weeks ago, the Schuster Group’s Joseph Arnold Lofts project received conditional approval. The proposed 13-story apartment building will be adjacent to the Bellora and Klee Condominiums. Virtually all of Bellora’s southern views will be obstructed as well as the west views of the Klee’s south building. View decision (pdf).

Queen Anne High School
The Puget Sound Business Journal reported that developer of the Queen Anne High School Condominium is battling its insurer after loosing a $9.4 million lawsuit brought on the homeowners association.

According to the article, the homeowners association filed a lawsuit alleging breach of contract, implied warranty, and violation of the Consumer Protection Act in its marketing of the property, among other issues.

Developer, insurer now at odds over $9.4M ruling on Queen Anne High School via Puget Sound Business Journal

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The 200 West Highland Condominium on Seattle’s Queen Anne’s South slope reports that they’ve sold six homes since coming back on the market in November. Just 11 of the luxury condo homes remain.

www.200westhighland.com

Matrix is ready to close out the Trace North development on Capitol Hill with just 15 homes left! There’s a good mix of studio (1) , open one-bedroom (6), one-bedroom (3) and two-bedroom homes (5) available.

Additionally, prices were just reduced and homes now start at $209,950 and go up to $414,950.

Trace North

The Hjarta Condominium in Ballard reported they sold another 5 homes during the holidays and have revised prices with homes now starting from $259,950. The building is LEED Silver Certified and FHA approved.

www.hjartaballard.com

Mercer Island’s 7800 Plaza Condominium is 50% sold and prices have reduced since our last posting. This is a rare opportunity to own a new condo on Mercer Island.

www.7800plaza.com

Disclaimer: Hjarta and 7800 Plaza condos are advertisers of The Seattle Condo Blog.

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4. Condo Project Odds and Ends

First, if you didn’t catch it here, the 200 West Highland Condominium is coming back on the market, with a public relaunch event starting at 5 PM on Tuesday, November 16th. The Kendra Todd Group is now handling sales and marketing at the upscale project.

The Kendra Todd Group also took over the boutique 744 Harvard Condo project located in Capitol Hill’s renowned Harvard-Belmont neighborhood. Prices on the two remaining homes have been reduced up to $150,000. Unit #200 is now priced at $799,000 while the penthouse (#300) is available at $825,000. Both homes have been reduced approximately 57% since they first came on the market in 2008/2009.

The 132-unit Marselle Condominium development reports they are now 60% sold. They’ve recently started a new homeowner testimonial campaign on Facebook and Twitter, following in the footsteps of 1521 Second’s elegant promotion.

Ballard’s Hjarta Condominium hosted a broker’s open event on Wednesday drawing over 65 real estate brokers to celebrate its relaunch with Matrix Real Estate. Hjarta’s current prices reflect significant reductions.

Speaking of Matrix, they just released the results from their annual market survey. A few highlights from the 2010 survey include: 82% of respondents felt now is a good time to buy, though only 48% said they were considering buying within the next 24 months and 63% prefer to live in a denser close-in neighborhood with the ability to walk to amenities, but the majority preferred a single family house.

Interestingly, 49.9% of respondents felt prices will remain stable or improve in 2011, with only 23.4% believing prices will go down next year. Read the rest of the survey here.

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Known for their extreme luxury, coveted location and unparalleled views, the homes at 200 West Highland are the focus of this special evening event dedicated to previewing Seattle’s most luxurious condominium project. Seventeen of the boutique building’s twenty-five homes are available.

“This is truly a one-of-a-kind development,” says Kendra Todd. ”It’s a rare opportunity for buyers to purchase new construction homes on historic Highland Drive with this level of quality and views.”

Situated across from historic Kerry Park, these spacious condominiums offer views of downtown, Elliott Bay, the Space Needle and Mount Rainier. The timeless architecture is designed with classic materials to complement the upscale neighborhood. Units are characterized by high-quality finishes, from marble and granite countertops to custom hardwood flooring.

Available in 2- and 3-bedroom units, floor plans range from 1,500 to 2,800 square feet. Prices will range from $700,000 to more than $1.7 Million. Aside from the public November 16th event, viewings are by appointment only.

200 West Highland was the last luxury condominium development to be completed on Queen Anne.

View available 200 West Highland condo homes for sale.

On the web: www.200WestHighland.com

Adapted from a press release.

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Here’s the full email message from Bruce Lorig.

Over the last 38 years, Lorig Associates has had a strong presence in the Seattle real estate community, building market rate housing, renovating historic structures, and consulting with nonprofits and universities on their housing and service facility needs.

We are proud of our work, and of the condominiums we have developed – Market Place North, Market Court, The Willis, The Victoria and, most recently, 200 West Highland.

In many respects, 200 West Highland is the culmination of all of our knowledge and resulted in the best building, in the best location – brought on line, unfortunately, at the worst possible time.

As you may know, on May 5, 2010, Bank of America served us with a foreclosure notice on the remaining unsold homes at 200 West Highland. Rumors abound. Here are the facts, as we know them.

• The building is complete.
• Since the first of this year, we have closed 7 condominium homes, all owner occupied, and will be closing our 8th on June 25. We are 32% sold.
• Bank of America intends to take title to the unsold units on August 6.
• We have been told by Bank of America that they will NOT be auctioning units, but rather will continue to sell them one by one.
• We also have been told by Bank of America that they will be holding the current pricing. There will be no major price reductions.
• We have been instructed to continue our sales activity.

We believe that this remarkable building will survive the current turmoil and will, over time, be a smart investment and an exceptionally desirable place to live. We are encouraged that our existing homeowners share this sentiment.

If you would like more information about 200 West Highland or would like to schedule a showing, please contact our marketing agents for an appointment.

Sincerely,

Bruce Lorig

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Originally constructed in 1930, the rejuvenated Queen’s Court was unveiled in early 2007. Though, it wasn’t alone as a number other developers rushed to bring new conversion projects to market. With its premium pricing, combined with stiff competition and the subsequent market collapse, Live Historic eventually found itself in financial turmoil.

Fast forward to 2009, under a new owner Queen’s Court received additional upgrades, its HOA budget fully funded and prices slashed. It also obtained FHA and VA financing approval. Led by the sales team at Developer Services Group, Queen’s Court has further restructured its pricing in order to be competitive in today’s market place.

Homes at Queen’s Court are now being offered from just $159,000 for studios and tops out at $210,000 for a one-bedroom. The homes retain its ’30′s architectural charm yet feature modern updates and conveniences including new cabinetry, fixtures, stainless appliances, granite countertops and in-unit washer/dryer combos.

Seventeen of the 34 homes are available, though pricing has only been publicly released for the units shown below.

So after its 3rd price cut in 6 months how does it stack up? For comparison, units #104 and #110 are now being offered at 29% and 38.5% below their 2007 prices, respectively. However, even at this pricing level, there’s still competition from other, newer properties in Belltown and Queen Anne. What’ll set Queen’s Court apart is its quieter location and 1930′s character.

The building doesn’t offer much in the way of amenities, but it does have a newly remodeled lobby, a library and green space. On the other hand, the limited amenities allow Queen’s Court to keep its homeowner dues fairly low.

Parking is available on a first-come, first-served basis. At this time there are only two spaces left, which I believe are available for $35,000 a piece. Fortunately, there are ample leasing options including the Bernard Apartment across the street for $125/mo as well as the nearby Seattle Center garage.

Queen’s Court is open weekends from 11:00 am to 3:00 pm.

Click thumbnails to view larger image:

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Received word this past week that 200 West Highland received bank approval to begin closing. Currently, the upscale development has 5 homes under contract that it anticipates will close by the end of February.

200 West Highland is situated across the street from Queen Anne’s famous Kerry Park offering homeowners stunning views of downtown and Elliott Bay. Prices of the remaining homes range from $895,000 to $2,050,000.

Website: www.200westhighland.com

Marselle Condos

The Marselle Condominium sent out an update last week announcing that they’ve sold an additional 8 homes to start off the year. Of the remaining properties available, prices begin from $199,990.

Currently, Marselle has several incentives available – a special 95% Seller Financing, no mortgage insurance and no HOA dues until January 2011. Additionally, Marselle is FHA & VA approved.

Website: www.marsellecondos.com

Ruby Condos

The Ruby Condominium is now 65% sold! Comparatively speaking sales at Ruby have been brisk and confirms there is demand for well-priced entry-level condominium homes that are centrally located and close to downtown.

In addition, Ruby recently reduced prices across the board with all homes now priced below $300,000. Ruby is FHA & VA approved.

Website: www.rubycondos.com

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Home features:

• 2-bedroom, 2.5 baths
• Epicurean kitchen features luxury finishes
• Stone slab countertop w/undermount sinks
• State-of-the-art appliances – Viking, Sub-Zero and Bosch
• Private rooftop deck
• Two years HOA dues paid by Seller

View floor plan – click to enlarge:

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