The Seattle Condo Blog

Matt @ Urbnlivn got a copy of the letter I was looking for. As hinted on TSCB’s Facebook page a couple of weeks ago, 5th & Madison’s 18 remaining units will be auctioned off. The auction has been scheduled for March 28, 2010.

In order to sell the remaining units, we have decided to retain the services of Kennedy Wilson, Inc. and utilize their dynamic auction marketing process. On Sunday, March 28, 2010, 18 units of the remaining inventory will be offered for sale. The company will begin marketing the units the weekend of February 27th.

The tall, slender 5th and Madison (website) project is well underway across the street from the Seattle Central Library. Occupancy is on-target for October making the project one of the few due to be completed this year.

I had an opportunity to take a hard hat tour of the building to see how it was coming along. One of the benefits of hard hat tours is that it provides buyers an opportunity to gauge perspective of the units in relation to the environment. Personally, it did not feel as closed-in as I had expected considering neighboring buildings and with open floor plans and tall ceilings, the units felt much larger than their footprints suggest.

5th and Madison is unique in that all of the units, except the three penthouses, are one-bedroom or one-bedroom + den layouts, ranging in size from 808 to 1,244 square feet. The two- and three-bedroom penthouses range from 1,957 to 2,164 square feet in size.

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