The Seattle Condo Blog | Seattle Condos and Lofts

Two more buyers recently purchased at One Main Street condominiums leaving just ten homes remain in this boutique building of just 57 homes.

The remaining homes are a variety of one-bedrooms. The smallest and least expensive home is a 662 sq. ft. open one-bedroom for $299,900, which has a bedroom nook separated from the main living space by sliding doors. This small home has all the features of the larger homes including garage parking, air conditioning, German-engineered cabinetry, natural slab stone countertops and hardwoods throughout the main living area.

The largest of the remaining homes are approximately 880 sq. ft. with a spacious open living, dining and kitchen; a master bedroom with private ensuite bathroom; a large deck and a powder room for the convenience of guests. These homes top out at $439,900.

One Main Street is approved for 3.5% down FHA financing.

View available One Main Street Condos for sale

Located on Main Street in Old Bellevue, these homes offer a quiet, upscale alternative while still enjoying the benefits of a Downtown Bellevue location mere blocks from the Downtown Bellevue park, Bellevue Square, Lincoln Square and the shops and restaurants of Main Street. Another perk of the location is the new retailer on the main level of One Main Street – the Italian deli, Mercato Stellina, from the owners of Cantinetta, with fresh-made pasta, meats, cheeses, espresso and more for dining in or take-out.

One Main Street is open Saturday through Wednesday 12 to 5 p.m. at 10000 Main Street, Bellevue. For more information visit www.onemainstreet.com

Adapted from a press release

Escala Condominium
The Escala Condominium report they’ve just received full Fannie Mae approval. This will facilitate loan approvals with various lenders and will accelerate closings at the luxury condo tower in downtown Seattle.

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

Trace North – Capitol Hill

Trace North is now sold out! The last developer unit, #502, went under contract this week and is now pending.

Fortunately, for those interested in Trace North there are a few resales available.

Enso Condominium – South Lake Union

Enso Condominium is about to close out sales with just two new homes remaining – units 702 and 1602. Both are NE facing (towards Lake Union) one-bedroom 769 square foot homes available at $410,000 and $460,000.

These are also Vulcan’s final two condo units from the last construction cycle, which will complete their foray into condominiums. Presently, Vulcan is reviving its Martin project in Belltown, but as apartments.

   >>  View available Enso condos for sale

1521 Second – Downtown

The 1521 Second tower has closed 117 units and is now over 84% sold. 1521 is a luxury condominium offering exquisite finished homes commanding spectacular city, Puget Sound and Olympic range views. Homes start from just under $1 million.

   >>  View available 1521 Second homes for sale

Olive 8 – Downtown

Olive 8 is now over 2/3 sold with more than 145 homes closed.

   >>  View available Olive 8 condos for sale

Four Seasons – Downtown

The uber-luxurious Four Seasons Private Residences is clinging on to its remaining 11 new homes…there hasn’t been a sale there all year (per NWMLS records). Most of the available homes under $3 million are on the 1st Avenue side facing the Russell Investments tower while the choice view homes start from just over $6 million.

   >>  View available Four Seasons homes for sale

Escala – Downtown

Downtown’s other remaining condominium tower, Escala, has closed 130 homes. That’s another 30 in the past two months, which brings the project to approximately 48% sold. New homes start from the low-$400,000s.

   >>  View available Escala condos for sale

The Decatur – First Hill

Since the switch in marketing firms, and in some cases, price increases, the Decatur has only closed 1 additional home. That leaves about 21 units remaining.

   >>  View available Decatur condos for sale

Marselle – South Lake Union / Queen Anne

Marselle reports they are over 70% sold and still have a variety of home options available from one-bedroom to two-story penthouses. Homes start from $219,990.

   >>  View available Marselle condos for sale

Bellevue Towers – Bellevue

Downtown Bellevue’s upscale Bellevue Towers continue to sell well with over 230 homes now closed and another 20 or so homes under contract, including two $2 million penthouses. That brings the massive twin-tower, LEED Gold Certified development up to 43% sold.

Wells Fargo is now offering financing at Bellevue Towers, which expects to receive Fannie Mae approval later this year.

   >>  View available Bellevue Towers homes for sale

One Main Street – Bellevue

Bellevue’s only other new condominium development, One Main Street, is also doing well with 70% of its homes sold. Prices start from $299,900 and is FHA approved.

   >>  View available One Main Street condos for sale

Hjarta – Ballard

Ballard’s Hjarta Condominium has also done well this year, they are now 70% sold. Homes in this green constructed concrete & steel building start from $274,950.

   >>  View available Hjarta condos for sale

Danielle – Ballard

The Danielle Condominium in Ballard reports they are over 60% sold. Homes at the Danielle start from the low-$200,000s.

   >>  View available Danielle condos for sale

Harvard & Highland – Capitol Hill

The Harvard & Highland Condominium has sold 76% of its luxury homes leaving 9 available. Tucked quietly away in Capitol Hill’s Harvard-Belmont district, Harvard & Highland offers sophisticated in-city living.

Through the end of October, Harvard & Highland is offering an additional broker bonus. We will rebate 2/3′s of the bonus ($10,000) if you use our associates to facilitate the purchase of a Harvard & Highland home by the end of October.

>>  View available Harvard & Highland homes for sale

 

Disclosure: 1521 Second, Olive 8, Marselle, Harvard & Highland and Hjarta are advertisers of Seattle Condos and Lofts.

One Main Street – Downtown Bellevue

The Bellevue condo market is starting to heat up with One Main Street reporting an additional 3 home sales. The boutique development, conveniently located near the Downtown Bellevue Park, is now 56% sold.

One Main Street offers a variety of home plans to choose from, ranging from a $329,900 open one-bedroom to a $1,609,900 spacious three-bedroom penthouse suite.

Visit the One Main Street website and blog
View One Main Street condos for sale

Bellevue Towers – Downtown Bellevue

Bellevue Towers continue to do exceptionally well, recording another 35 closed sales since May 1st…24 of those in May alone. That might be the highest single month closings for a new condo development we’ve seen in years.

Apparently, at least in the minds of the owners, sales are going so well that they’ve actually increased prices. The increases ranged from $3,000 to $25,000. While they may have sold over 100 homes this year alone, they still have approximately 400 more units to go. New home prices currently range from $316,000 to $5,499,000.

Visit the Bellevue Towers website
View Bellevue Towers condos for sale

Harvard & Highland – the Harvard Belmont District

The classical Harvard & Highland Condominium, nestled in Capitol Hill’s historict Harvard Belmont neighborhood, also reported three sales in May. These beautifully appointed homes are available from $995,000 to $2,350,000.

View the Harvard & Highland website
View Harvard & Highland homes for sale

 

 

Fairview Condos – Mukilteo

Following the Fairview condo auction in November, Matrix took over sales of the remaining twelve unsold units in February. Now, they’re down to the final three homes: 2 two-bedrooms priced at $354,500 & $364,500 and a three-bedroom penthouse that’s offered at $1,115,500.

Visit the Fairview Condos website
View Fairview condos for sale

The Enclave at Lake Union – Eastlake

The Enclave at Lake Union is re-awakening since we last heard from the marketing team last autumn. The developer is repositioning the project targeting homeowners seeking larger in-city waterfront homes.

“We’ve been patiently waiting for the market fundamentals to improve allowing construction to begin. We see an emerging opportunity to target those accustomed to the waterfront lifestyle but preferring to simplify their domestic responsibilities. The Enclave at Lake Union will deliver on all counts,” says Mike Yukevich, Investment Manager and partner at Trinity Real Estate, the developer of The Enclave at Lake Union.

The individual two-bedroom townhomes range in size from 2,500 to 3,000 square feet and are being presold from $1.3 million. The larger 5,200+ square foot, three bedroom “combined” residence is being offered from $2.995 million in an improved “vanilla shell” condition, meaning all the building systems (including elevators) and interior demising is constructed but the prospective homebuyer has the flexibility to specify the interior finishes. Alternatively, a fully finished home to the same luxury specification as the other homes is available turnkey at $3.395 million.

Visit the Enclave website
View Enclave homes for sale (presale)

Olive 8 Sky Suites – Downtown Seattle

Realizing an emerging market of out-of-towners looking for a second in-city Seattle home with resort amenities, Olive 8 is offering its remaining open one-bedroom condo homes (the ‘xx09′ and ‘xx10′ stack) fully furnished.

The turnkey furniture packages from Alchemy Collections is available with full price offers on the newly named open one-bedroom “Sky Suite Collection” homes, which start from $370,000.

Visit the Olive 8 website
View Olive 8 condos for sale

Disclaimer: At time of publication, Olive 8 is an advertiser of Seattle Condos and Lofts.

Hjarta Condominium – Ballard

To celebrate planting season, the Hjarta Condominium, is giving away annuals to the first 20 people to visit the building on Saturday, May 14th starting at 11:00 AM. And, to accommodate those attending the Ballard Artwalk, Hjarta will remain open until 7:00 PM on Saturday as well.

Hjarta is a green constructed, concrete and steel condominium, I believe the only one in Ballard. Sales are moving along with 5 more home sales in the past 30 days, 18 sales overall all since December. Residents at Hjarta will enjoy the growing season with their own roof-top P-Patch gardens. Hjarta is located at 1530 NW Market Street.

View the Hjarta website
View Hjarta condos for sale

<> Trivia bonus: Do you know where the “P-Patch” got its name? The answer is at the bottom of this post.

1521 Second – Downtown Seattle

The 1521 Second Condominium will be hosting an open house this weekend, May 14 & 15 from noon to 4:00 pm.

The public open house provides a great opportunity to tour one of Seattle’s most luxurious and prestigious residential towers, which is now 80% sold. The building is located at 1521 Second Avenue just around the corner from the Pike Place Market.

If you happen to go, then be sure to stop by the Pike Place Market for the Seattle Cheese Festival happening at the market this weekend.

View the 1521 Second website
View 1521 Second condos for sale

Escala Condominium – Downtown Seattle

With sales reaching the 100 unit mark Escala Condominium recently re-addressed pricing on a selection of one- and two-bedroom city-view homes.

Prices for one-bedrooms begin at $374,000 and two-bedrooms now start from $549,000. The Escala is located at 1920 4th Avenue at Virginia St.

View the Escala website
View Escala condos for sale

Downtown Bellevue Condos

Sales at Bellevue Towers are rocking with 68 homes closed or in escrow since the start of the year, of which 37 sales came during March and April alone.

The much smaller One Main Street Condominium, near the downtown Bellevue Park, is also experiencing better sales this year with 12 homes closed or in escrow so far. Presently, the building is just over 50% sold.

View the Bellevue Towers website    |    View Bellevue Towers condos for sale
View the One Main Street website    |    View One Main Street condos for sale

 

P-Patch trivia question answer

The ‘P’ commemorates the family who used to farm the area that became the first community garden in Seattle, the Picardo Farm P-Patch. This P-Patch was acquired from the Picardo family who ran a truck farm in the earlier part of the 1900s up in the Wedgwood neighborhood. When the city started up the P-Patch program in 1973, the ‘P’ was taken to commemorate the family.

Judging by the reports from a number of condo developments in the area, as well as our own experience, condo sales activity is picking up.

As noted in our earlier post about Bellevue Towers, so far this year they’ve got 18 sales under contract and another 11 offers under review.

The historic Queens Court conversion is starting to see movement with 4 homes selling last month, leaving only 6 units available between $149,950 and $174,950.

The Hjarta Condo development in Ballard took in another 10 sales in the past two months. Homes at Hjarta start from $259,950.

Downtown Seattle’s luxury condo tower, Fifteen Twenty-One, is hosting a Designer Home Series open house this weekend from noon to 4 pm on Saturday 2/12 and Sunday 2/13. The development is now 75% sold.

Back on the Eastside, the One Main Street condo in downtown Bellevue sold another two homes this past weekend. Condo homes at One Main Street range from $319,000 to over $1.6 million and many homes are priced below $400,000.

First Hill’s Decatur Condominium reduced prices on a number of units last week.

The Danielle Condo in Ballard is reporting consistent sales so far this year.

The Fairview Condos in Mukilteo has 12 units available. If you remember, 20 of the 22 units sold at auction in November with 15 of those eventually closing. The remaining 7 unsold units plus a few others that were held back are now on the market, priced from $239,500 to $1,115,500.

For this week’s condo digest I’m doing something a little different – highlighting the Facebook pages of current condo developments that are for sale. All of these pages were created and are maintained by the marketing/sales teams so they can get out of date when a development changes marketing firms. Though, for the most part they’re up to date with project and pricing updates, photos and neighborhood happenings.

In my opinion, the best are (1) the Verdeaux page with its great resident interaction, (2) the homeowner testimonials on Marselle page and (3) Trace Lofts/North’s fantastic Capitol Hill community updates.

1111 E Pike (withering away) – Condos on Capitol Hill.

7800 Plaza (current) – Condos on Mercer Island, now 50% sold.

Bellevue Towers (current) – Condos in downtown Bellevue.

Celine Place (current) – Townhomes in North Seattle.

Danielle (current) – Condos in Ballard.

Decatur (never got going) – Condos on First Hill.

Harvard & Highland (starting to fade) – Condos on Capitol Hill.

Marselle (current) – Condos near the Seattle Center.

Olive 8 (withering away) – Condos in downton Seattle. However, Hyatt at Olive 8 page is going strong.

One Main Street (current) – Condos in downtown Bellevue.

Point Edwards (current) – Condos in Edmonds.

Pontedera (current) – Condos in Seattle.

Sylvan Ridge (current) – Townhomes in West Seattle.

Trace Lofts & Trace North (current) – Condos and lofts on Capitol Hill.

Verdeaux (current) – Condos in Bothell.

And, you can find The Seattle Condo Blog on Facebook, too!   By the way, I tend to post more on our Facebook page than I do on the blog, so consider “liking” us to get more condo updates, news articles and community information.

One Main Street Condominiums (website) is hosting its Grand Opening this weekend, Saturday and Sunday, March 27th and 28th, with three model homes and a selection of other available homes for touring from 11 a.m. to 6 p.m.   One Main Street is located at 10000 Main Street in Bellevue.

Visitors can enter for a chance to win one of three $500 gift certificates to Greenbaum Home Furnishings.

With construction nearly completed, this is the first chance for prospective buyers to tour and purchase these new luxury condos, most of which are ready to move in today.

One Main Street is a ten-story building with just 57 homes, constructed of concrete, yet designed in scale with the surrounding Old Bellevue neighborhood. The development features 37 unique floorplans with one or two bedrooms, and three-bedroom homes coming soon. Homes are thoughtfully designed with expansive kitchens, spa bathrooms, powder rooms for guests, and many have dens that are large enough to double as a guest bedroom.

Floor-to-ceiling windows flood the spaces with natural light and capture spectacular views of Meydenbauer Bay with the Downtown Seattle skyline in the distance, Mount Rainier, the Olympic Mountains and Downtown Bellevue. Many homes feature oversized decks and terraces, some pre-plumbed for your gas barbecue, extending your living room to the outdoors with plenty of space for your container gardens and outdoor living.

The gourmet kitchens feature custom-engineered German cabinetry, sealed limestone, quartz or granite countertops topping large work islands, glass tile backsplashes, Bosch appliances, and Zephyr venting hoods. The spacious spa bathrooms feature open walk-in showers, deep soaking tubs, double-sink vanities, radiant heat floors and heated towel rails.

Each home comes equipped with Lagotek wireless home automation with a video touch screen for front door monitoring, plus upgradable controls for lighting, blinds and media. The building has a formal lobby with controlled keypad entrance, concierge service, two high-speed elevators, and reserved, controlled-access garage parking and storage included with purchase (up to two parking spaces per home).

Scoring a near-perfect 91 on Walkscore.com, nearby are unique, local businesses that you can enjoy from a morning coffee at Gilbert’s to a happy hour cocktail at the 520 Bar and Grill. A convenient pedestrian walkway offers easy access to the Bellevue Downtown Park, (with Bellevue Square and Lincoln Square just on the other side), as well as waterfront access just two blocks away at Meydenbauer Park.

“The thought of living in Downtown Bellevue appeals to many people, but they don’t like the idea of the city noise and heavy traffic, and the feeling you are going to get run over trying to get across the street to your local restaurant,” says Mike Miller of Matrix Real Estate who represents One Main. “At One Main, you get all the benefits of living in Downtown Bellevue, but on a quiet street in a real neighborhood. You can step outside your front door and stroll to shopping or dinner, or just take a walk in the Meydenbauer waterfront neighborhood. It’s really the best of both worlds.”

Home prices range from the mid $300’s to $1.6 million. FHA financing is available requiring as little as 3.5% down. In addition, below-market jumbo interest rates are available for under 5% through our on-site preferred lender.

Community website: www.onemainstreet.com

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The Seattle Condo Blog

One Main Street – Bellevue, just announced they will begin hard hat tours soon. Call the sales office to make an appointment if you’re interested. Visit www.onemainstreet.com for more info.

Gallery – Belltown, recently relocated their sales office into a townhome unit in the Gallery building at 2nd and Broad. They have a couple of model homes staged and should have seven model homes ready shortly. The first five floors are complete and residents started moving-in this past Friday.

I recently toured the property but the sales staff was a bit disheveled and only had keys to one unit, and couldn’t provide access to common amenities. I’ll reserve judgment of the development until I can get back for a comprehensive tour. But, if there was one item I was disappointed with it was heating – baseboard and stand alone forced air wall heaters, in a $600,000 unit no less. There are still assignment opportunities available, just saw one on Craigslist. For more info on Gallery, visit www.liveatgallery.com.

Veer Lofts – South Lake Union, is nearing completion and expects to receive its TCO in the next week or two, with first move-in by the end of the month. Currently, the project is about 60% sold so there’s still a number of options for anyone interesting in pioneering SLU condo living. Visit www.veerlofts.com for more info.

Canal Station – Ballard, hosted an agent event last night, a final push to close out sales in phase two. A recent price reduction may make the development appealing to hesitant buyers with one-bedrooms starting from $265,000 and two-bedrooms from $415,000.

I spoke with a owner in phase one who lamented the falling values, especially now that phase two is priced below phase one. At the present, he’s realizing a decent-sized loss in value, but hopefully the new pricing will entice buyers, leading to a reduction in Ballard’s condo inventory. Visit www.canalstation.com for more info.

1521 – Downtown, expects first move-in to begin this November.

The latest luxury condominium project in downtown Bellevue’s ever changing landscape is One Main Street (website) located at 10000 Main Street (map).

The mid-rise One Main Street will feature 58 one-, two- and three-bedroom residences that’ll range in price from the $400,000s to more than $1 million. The project will also include retail on the street level and is located within blocks to the Downtown Park and Meydenbauer Park.

Interior features will include:

• 9′ ceilings with floor-to-ceiling windows
• SieMatic self-closing cabinets
• Natural cherry or walnut hardwoods
• Spa style baths with radiant heated floors, heated towel racks and extra-deep soaking tubs
• Wireless video touch-screen devices to view visitors when they buzz your residence
• Bosch stainless steel appliances
• Fireplace and air-conditioning

The One Main Street presentation center is located at 136 – 120nd Avenue SE, Suite 102 in Bellevue (behind Bis on Main).

The project is slated for completion in September 2009.

One Main Street is promoting itself as a luxury condominium and it will certainly be well appointed. Though, it does not quite meet the same level of luxury as the high-rises being developed in the downtown core, which is good. It’ll provide potential homeowners greater options for downtown Bellevue living.