The Seattle Condo Blog | Seattle Condos and Lofts

Hjarta, Phase 2

Pryde + Johnson has filed a land use application the 2nd phase of its Hjarta development in Ballard. The phase 2 building will be on the backside of the existing building and will front NW 56th Street. I’ll update further when more information is available. View the land use bulletin

Trace North & Trace Lofts

Trace North sold another 5 units in the past three weeks and is now down to its final 3 units for sale. www.tracelofts.com

• #418: One-bedroom, 804 square feet offered at $354,950
• #519: Open one-bedroom, 614 square feet offered at $274,950
• #502: Open one-bedroom, 610 square feet offered at $264,950

Plus, there’s a resale unit that’s listed at $199,950. Due to MLS restrictions I can’t tell you about it, but you can view more info about the resale and the other 3 units here.

Trace Lofts is down to its last unit, #407, which is a 703 square foot open one-bedroom facing south with its own deck. It is currently listed at $324,950 – View listing

Harborside Condominium

Slightly outside and a ferry ride away from Seattle is the Harborside Condominium in Bremerton. The Harborside is located on the waterfront just a couple of blocks from the ferry terminal. The two building development has a number of great units available with prices that are 40-50% below their 2007 prices when the project was completed.

Prices start at $255,000 for one-bedroom homes (from 913 square feet), from $309,000 and up for large two-bedrooms and $759,000 for a 2,642 square foot three-bedroom penthouse suite.

www.harborsidecondominiums.com

Joseph Arnold Lofts

For those keeping track of the Joseph Arnold Lofts apartment project in Belltown, the design review board meeting has been rescheduled for Tuesday, May 10th at 5:30 pm at Seattle City Hall. The Joseph Arnold Lofts will be adjacent to two condo buildings – The Klee and Bellora. View land use bulletin

Olive 8 & Escala

Sales seem to be tapering off for both downtown Seattle condo buildings. Since March 1st (over the past 8 weeks) there were 6 new purchases (contracts accepted) between them, 2 at Olive 8 and 4 at Escala. Three of those were over $1 million.
www.Olive8.com   |    View Olive 8 units for sale
www.somethingischangingatescala.com   |    View Escala units for sale

Queen’s Court

After Matrix took over the Queen’s Court condo development last September sales have been brisk with 12 homes sold so far, leaving just 2 homes remaining. Both are 509 square foot studios priced at $149,950 and $154,950. Queen’s Court is a 2007 conversion located near the Seattle Center in Lower Queen Anne.

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.

Marselle Condominium

The Marselle Condominium, located on the cusp of Queen Anne, SLU and Belltown (699 John St), has revised pricing on a number of homes. Of the 133 units in the development, 57 are still available including the huge two-level penthouse townhomes. Overall, average price per square feet is $351 with HOA dues at $.30 a square foot. Now, there aren’t much in the way of amenities, but it does include a community recreation/game area, a fitness room and an expansive roof top deck offering great cityscape views. Marselle is FHA & VA approved. www.marsellecondos.com

Queen’s Court

Sales of the remaining 14 homes at Queen’s Court, located in the Uptown / Lower Queen Anne neighborhood (124 Warren Ave N), have been assumed by Matrix Real Estate who recently closed out the Pittsburgh condo development across the street. Prices have been reduced and now start at $134,950.

It seems like ancient history now. Back in the condo heyday that was 2006, Pioneer Properties undertook the renovation and conversion of the stately brick Queen’s Court building in lower Queen Anne. Pioneer Properties, which later morphed into Live Historic, was committed to preserving and rehabilitating Seattle’s vintage properties.

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.

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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%.

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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.