The Seattle Condo Blog | Seattle Condos and Lofts

Post Updated: 5/24/2010

Seven units of the BelBoy Condominium on Capitol Hill, the “E” and “F” Buildings (pictured above), have reduced prices and are now being sold through Intracorp Marketing & Sales.

In addition, the preferred lender, Pacific Continental Bank, is offering a $5,000 buyer bonus and a special 5% down payment financing with no mortgage insurance. The BelBoy is located on Belmont Ave between Pike & Union and is open Friday – Monday, 10 am to 6 pm.

Current pricing:

Live Historic has been instrumental in redeveloping many older properties in Seattle, though several of their other developments have endured financial difficulty – the Pittsburgh, Queens Court and the Marlborough.

Queen’s Court, a 34-unit development converted in early 2007, is looking to close out the remaining 16 homes.

Queen’s Court just adjusted prices again, reflecting an additional 5.4% to 13.7% discount since their last reduction in September. Compared to prices from a year ago, the current prices reflect a reduction ranging from 19% up to 27%.

Click for larger image:

Originally built in 1930, Queen’s Court retains much of its original period details that’s supplemented with modern finishes and conveniences. The conversion was undertaken by Live Historic, who also renovated the nearby The Pittsburgh. Queen’s Court recently changed hands through foreclosure.

Live Historic, a local development company known for revitalizing Seattle’s older residential properties, is putting the finishing touches on its latest condominium project, The BelBoy Condominium. Located in Capitol Hill’s Pike/Pine Corridor, The BelBoy offers a unique urban retreat with turn-of-the-century charm.

The BelBoy (website) comprises five buildings arranged around a central courtyard and parking. The buildings, known as “Builders Houses”, were originally constructed between 1893 and 1902. Three of the buildings were built as double houses that were designed to appear as a single family house.

Though the properties have been updated throughout their lifetime and revitalized by Live Historic’s conversion, much of the original character and craftsmanship remain. Most of the windows (single pane, leaded glass) and trim work are original. In a few of the units the interior trim work were replaced with fairly good facsimiles of the original and some units have double pane windows. The kitchens have been updated with new appliances and countertops while the living and bedrooms have new carpeting. However, in most homes, Live Historic retained pre-conversion baseboard heaters and bathtubs.

When fully completed The BelBoy will comprise of 30 studio and one-bedroom homes. Currently, 18 homes are available for purchase in the C, E and F buildings. The units are fairly compact ranging in size from 333 to 615 square feet, with most units under 500 square feet.

C Building, 4 studios and 4 one-bedrooms – 1423 Boylston Ave
- Studios: $170,000 to $185,000; 333 – 438 square feet.
- One-bedrooms: $250,000 to $265,000; 509 – 517 square feet.

E Building, 4 studios and 1 one-bedroom – 1420 Belmont Ave
- Studios: $160,000 to $200,000; 314 – 365 square feet.
- One-bedroom: $230,000; 501 square feet.

F Building, 3 studios and 2 one-bedrooms –1424 Belmont Ave
- Studios: $200,000 to $245,000; 377 – 550 square feet.
- One-bedrooms: $235,000 to $275,000; 424 – 615 square feet.

(Listed prices as of April 2009)

A number of homes have great city views and private decks or patios. The homes do not have in-unit washer and dryers, though there are laundry appliances (one set) available in each building. Parking is available separately but are limited, the seven uncovered parking spaces are available on a first-come, first-served basis for $25,000 each. Homeowner dues run about $.55 per square foot and it is a pet-friendly community.

The BelBoy is centrally located to downtown and the hub of Capitol Hill – it’s just off of Pike between Belmont and Boylston. The BelBoy is just a short distance to downtown, a dog park, Cal Anderson Park and numerous restaurants, cafes, shopping and entertainment venues.

View available Bellboy condos for sale.

Marlborough House, one of Live Historic’s conversion projects is headed to foreclosure reports Realtor Jim Reppond.

Thanks to Jim and Matt who reported that Live Historic’s Marlborough conversion project is reverting back to apartments. Matt also noted that Maris condos on Shilshole made available their unsold units as rentals. Marlborough and Maris joins other developments which reverted back or switched to apartments or are now leasing unsold units – Max, WestWater, Carbon 56, Domaine, Expo 62, Landes, Strata. I’m sure we’ll be seeing more of these.

Built in 1928, the quaint Betsy Ross Condominium (website) radiates with character and charm of a time long passed. Pioneer Properties, developer of the Nord and Queen’s Court, is readying the building and upgrading the units for their upcoming sales later this Spring.

The three-story building, located at 1120 17th Ave (map) will be home to just 16 one-bedroom condominium homes ranging in size from approximately 588 to 698 700 square feet.

Home features preserved:

• Beautifully refinished oak hardwood floors
• Elegant crown molding
• Private, wrought iron balconies in many units
• Cozy, gas fireplaces in some units
• Built-in vintage kitchen cabinets with glass doors
• Solid wood doors
• 9 foot ceiling height

Home features for modern living:

• New stainless-steel appliances
• New washer and dryers in some units
• Granite countertops in kitchen and bathroom
• Storage lofts in some unit
• Remodeled kitchen and bathroom designed to maintain a vintage feel
• Safety features which include outdoor lighting and gated property entrance
• Pet-friendly

Homes are expected to be priced from $199,000 to the low-$300,000s. The website has been updated with a price list and homes are listed from $229,000 to $329,000.

One note about their website. On the Neighborhood page, it states the Betsy Ross is a short stroll to a number of restaurants, bars and Interlaken Park, but most of the establishments listed on their site are further north near Volunteer Park…about 1.5 miles north of the Betsy Ross. Not quite a short stroll.

For more information about this and other properties, please contact us.

Post updated 4/21/07

Equinox:
The Equinox sales team report that they’re off to a quick start. Eighty-five percent of those with appointments during the first weekend purchased a home.

Four Seasons:
The uber-exclusive Four Seasons reached a construction milestone this week as the new landmark building rose above street level. At this pace, each floor will be completed every two weeks.

Pioneer Properties:
Preservation-focused Pioneer Properties report they are gearing up for the release of their next three projects later this Spring. They include The Pittsburgh (lower QA), The Nord (Pioneer Square) and The Betsy Ross (Capitol Hill).

Carbon 56:
Carbon 56 recently adjusted their prices. Some units increased in price, some decreased. I’ve updated the most current price list on the Carbon 56 posting.

CityView at Leschi:
CityView indicates they are more than 25% sold. A great start for this conversion project.

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Site Maintenance:
I will be working on some maintenance issues this weekend. While I don’t expect any problems, the last time I manually upgraded software the site was unavailable for a few hours.

Work is continuing on the conversion of the Nord Hotel/Apartments in the heart of Pioneer Square at 312 1st Ave S. When complete, the low-rise vintage brick building will house just seven affordable condominium homes. The studio and two-bedroom units will range from 379 to 792 sq ft.

The Nord is expected to begin pre-sales in April with a Fall completion date.

As of 12/03/07, two 2-bedrooms remain both are listed at $415,000.

Home features include:

• All new stainless steel appliances, including microwave and dishwasher in some units
• Terrazzo countertops in kitchen and bathroom
• Cork floors
• Glass mosaic shower surrounds
• Contemporary porcelain floor tiles
• Custom cabinetry
• New bathroom fixtures
• Pet Friendly
• Homeowner dues include garbage, sewer, water and maintenance
• Storage available
• Washer & Dryers
• New kitchen cabinets

Overall, pretty good for the price-level and location. And, well, it’ll only appeal to owners who don’t mind living in a busy & lively area. There’s no parking, but the developer will provide two-years of free parking for buyers.

On the other hand, step out the front door and you’ll have your choice of numerous cafes, restaurants, bakeries, antique shops and nightclubs.

A Little History (per Seattle’s Historical Sites page)

Originally constructed in 1890 after the Great Fire in the “Queen Anne – Richardsonian Romanesque” style, the building began life as the Thompson Hotel. From 1915-1969 it served as the Nord Hotel and named after Frank Nordquist, a hotel manager.

Recent Articles:

Seattle Times – Vintage Condos article

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.

A stones throw away from Expo 62 in lower Queen Anne is a new conversion development called The Pittsburgh at 125 Warren Ave N (map).

Constructed in 1907, this beautiful vintage 3-story brick building will be home to 31 studio, one- and two-bedroom units, ranging from 255 to 863 square feet. Studios will be priced from the mid-$100,000s, one-bedrooms from the high $200,000s and two-bedrooms from the mid-$300,000s.

Features will include:

• Top-grade appliances (microwave & dishwasher in selected units)
• In-unit washer & dryers
• Granite countertops in kitchen and bath
• Solid fir floors
• Clawfoot tubs
• Pedestal sinks
• Juliet balconies
• Gas fireplaces
• Landscaped courtyard with fountain
• Pet friendly

It doesn’t appear there is deeded parking, though all residents will receive free parking for two years.

Just a couple of blocks away, residents will enjoy easy access to Seattle Center events and dine at Jalisco’s and sip martinis at Tini Bigs.

View available Pittsburgh condo homes for sale

The Pittsburgh is being redeveloped by Pioneer Properties who’s goal is “reinventing neighborhoods and recycling old homes.” They recently completed work on Queen’s Court which is just across the street from The Pittsburgh. Queen’s Court was redone very well and is affordable for many people.

Additionally, Pioneer Properties is providing a unit, at the same low rental amount, to one of the Queen’s Court’s long-time tenants who couldn’t afford relocation. Not something many other developers would even consider.

VintageSeattle.org’s post on The Pittsburgh.

Update 4/2/07 from Rob Tang of Pioneer Properties:

… we are making a significant investment in improving the infrastructure at the Pittsburgh including electrical, plumbing & sewer, heat, new windows, and significant unit upgrades. About 1/3 of the homes will have parking spaces; for the other 2/3 we will pay for 3 years of parking in the garage across the street.

View available Pittsburgh condo homes for sale