The Seattle Condo Blog

If you’ve been in the market but felt the prices where just a little too out of reach you just might want to have another look.

Two projects want to get the word out about some spectacular deals. The Luxe on Queen Anne and CityView in Leschi have reduced prices from $30,000 up to $75,000, which is fairly significant for conversions. Both of these projects have been beautifully renovated and the current pricing is more in-line with the market.

Additionally, in the past 30 days a few other conversion projects have lowered prices on select units as well - Serana, Azul, Queen Anne High School.

1 Hotel & Residences - Downtown
1 Hotel & Residences broke ground this past week. The $200 million project states they are more than 50% reserved on condo homes and oversubscribed on city suites (hotel / condo units).

AVA Condos - Downtown
AVA Condos will begin scheduling private preview events in July for interested buyers. At 445 feet, AVA will be Seattle’s tallest residential tower.

aZul Flats - Fremont
aZul Flats is offering a $7,500 buyer bonus on 2 bed / 2 bath homes for a limited time.

Fini Condos - Phinney Ridge
Fini announced that interested buyers still have time to select their color scheme. The color scheme selection deadline is July 1st.

CityView - Leshi
CityView reduced prices on select homes and are still offering paid HOA dues for a year and a $5,000 buyer bonus.

The Parc - Belltown
Parc is 85% sold and approaching completion. Homeowners will be able to start moving in later this Summer. Units are still available starting from the mid-$300,000s.

Escala - Midtown
Escala reports they passed the $50 million sales mark during the 1st month of sales.

Trace Lofts - Capitol Hill
Trace reports they have sold over 60% of their homes and have released 10 additional units. The buyer’s lounge is now open in the Gun Club 4-9 PM on weeknights and 10 am - 6 pm on weekends.

For additional information or questions about condo or loft projects, please contact us.

With competition fierce many projects are offering buyers sweet incentives. Here are a few:

CityView Leschi - $5,000 buyer bonus PLUS 1-year paid homeowner dues.

Queen Anne High School - $10,000 buyer bonus for homes sold in May.

Both require buyers facilitate loans through the preferred lender for the buyer bonuses.

Trace Lofts Buyer’s Lounge is now open. The hours are Mon-Fri from 4:00 PM to 9:00 PM and Sat-Sun from 10:00 AM to 6:00 PM. The lounge is located at 1408 12th Avenue and parking is available at 1410 10th Avenue (2 blocks West of Trace Lofts).

22 West Lee reports they are 50% sold, excellent for a high-end condo project. They will be hosting a Broker’s Open on Tuesday, May 22 from 11 AM to 2 PM.

And, finally, the Seattle Condo Expo is this weekend at the Westin Seattle.

CityView Condos Price Adjustment

CityView recently reduced prices on available units, upwards of $25,000 on 1 bedroom units, bringing price per square feet between $350 to $410. Two bedrooms reflected a $10,000 reduction. This was anticipated and when taking into consideration current market conditions as well as the nicer finishes, unit size, age of building and views, this makes CityView a better value.

Condo Community Blogs

• Cosmopolitan - Cosmo Seattle
• The 2200 - Fast Times at 2200
• The Grandview - The Grandview

Any others? Let me know.

Updated: 3/7/07.

CityView Condos - Leschi

CityView held its brokers open sneak preview today. The builder did a great job at renovations. I updated the post with current pricing, photos & review - view CityView post. The grand opening is this weekend the weekend of February 24th.

Maris - Shilshole

Construction on this boutique condo at Shilshole is moving along. Maris shares the same developer as First Church on Capitol Hill.

The Nord - Pioneer Square

Work on The Nord Condominium conversion in Pioneer square is underway. The 1900 classic brick building will be home to just 7 homes. The Nord will begin sales later this year. More info to come…stay tuned.

The Betsy Ross - Capitol Hill

The Betsy Ross is a conversion project on Capitol Hill. The vintage 1928 building will be home to 16 one-bedroom homes. Sales is expected to begin later this year. More info to come…stay tuned.

CityView at Leschi Ridge is a new conversion project at corner of S. Jackson Street & 29th Avenue S (map). Unlike many other conversions the CityView building is fairly new having only been constructed in 2003. Even so, the developer made considerable upgrades to the 28 studio, one- and two-bedroom, and two-level penthouse townhomes.

CityView features include:

• Imported designer tiles in the kitchen, bath and entry. The tiles resemble hardwood stained flooring.
• Slab granite countertops with undermount sinks in kitchens
• Slab marble countertops in baths
• Stainless steel appliances
• Stackable washer & dryer in unit
• Parking for every unit
• Rooftop deck
• Third floor terrace with BBQ

Homes range in size from 448 to 1,350 square feet with prices starting in the high $100,000s. The smallest studio is 451 sq ft and is priced at $182,000.

The CityView website includes floor plates and floor plans of each unit. The homes are spacious with large floor-to-ceiling windows providing fantastic views of the city skyline, Olymplic mountains and neighborhood. A number of homes on the 3rd level have expansive entertainment sized patios.

Photos of interior spaces

The Grand Opening is schedule for the weekend of February 24th and homes are available for purchase now. Considering the affordable pricing for contemporary finishes, great interior space and views, I suspect these home will go fast, especially if the sales at Tobira are any indication of the demand for affordable homeownership. The only draw back, if any, would be the location.

Interesting note - CityView was originally developed as condos but the original builder felt the market was softening back in 2003 and switched the project over to apartments.