The Seattle Condo Blog | Seattle Condos and Lofts

The Danielle Condominium in Ballard is celebrating its public grand opening this weekend, Saturday 10/23 and Sunday 10/24 from noon to 5 pm. The Danielle is located at 5803 24th Ave NW, kitty corner from the Ballard QFC.

The newly completed condominium features 31 homes with open open-bedroom, one-bedroom and two-bedroom floor plans. Design finishes include hardwood floors throughout, slab stone countertops, stainless steel appliances with gas ranges and outdoor spaces. Some homes come with gas fireplaces, heated bath floors and are AC-ready.

Prices begin at $229,950 for an open one-bedroom and tops out at $649,950 for a large two-bedroom penthouse.

Although Danielle is hosting its grand opening this weekend, homes have been selling since Summer. As a result, the project is now 35% sold. The Danielle is also FHA approved.

Visit: www.DanielleCondos.com

The Bravern Signature Residences hit another snag in the depressed Bellevue condo market. The massive development is comprised of two luxury residential towers, two office towers (mostly leased to Microsoft) and upscale retail anchored by Neiman Marcus.

Earlier this year Bravern’s developer, Schnitzer NW, converted one of the two residential towers from condos to apartments. Yesterday, the Seattle Times reported the second tower will be converted as well, effectively removing 451 units from Bellevue’s condo inventory. The Bravern’s condo homes were previously offered starting from around $1 million. With leases starting from $1,550, renters will be able to live in style for a fraction of the cost compared to purchasing the very same homes.

The Bravern’s plight may be a boon for two other downtown Bellevue condo developments – Bellevue Towers and One Main Street. Potentially, buyers at Bravern may be lured to the comparably upscale Bellevue Towers, which has experiencing sluggish sales as well.

Back on this side of the lake, TeamBuilder JLS and Rennie Marketing announced that they have successfully closed out all 278 units at the Canal Station and Canal North condo developments in Ballard. Though the developer units have sold out, there are a number of resale units available for buyers looking to live in this prime spot in Ballard.

The only other new condo development in Ballard is The Danielle, which has seen brisk sales since coming on the market this summer. The Danielle is now over 30% sold.

TeamBuilder JLS is conducting an auction of 19 condominium and townhome units on Saturday, October 30th at the Lynnwood Embassy Suites. The properties are located in North Seattle and Edmonds.

The starting bid is the reserve price so the highest bid will be the winning bid.

A “how-to” information seminar will be held on Thursday, October 21st, which is beneficial for those who have not participated in a real estate auction previously.

Additional information, including the list of available properties, the auction terms and requirements, can be viewed on the auction’s website: edmondsauction.com

About the properties:

Cedar Pointe Condominium:
The Cedar Pointe auction includes 7 studio, one-bedroom and two-bedroom homes with bids starting at $59,000. Cedar Point is located at 750 N 143rd Street in Seattle, just north of Bitter Lake. The 76-unit building was originally built in 1978 and converted in 2007.

Edmonds Townhomes:
The Edmonds Townhomes is located at 233 3rd Ave North in Edmonds, which is close to Edmonds’ downtown and waterfront. The auction features 6 of the building’s 20 units with a starting bid of $179,000. The building was constructed in 1965 and converted in 2008. It’s a single square-shaped structure with an interior courtyard. There is a homeowners association with dues approximately $170/mo.

Legend Estates:
The Legend Estates in Edmonds is a collection of condominium townhomes constructed between 2006 and 2010. The units available in the auction are in one of the newer buildings (7803 218th St SW) and feature 2,400 square foot two- and three-bedroom homes. There is a homeowners assocation with dues around $270/mo. The minimum starting bid is $189,000.

The Escala Condominium will re-open to the general public beginning this Saturday, March 27th.

Seattle’s most recently completed high-rise luxury condominium tower is coming back from a two-month hiatus after switching directions with new marketing and sales teams, revamped amenities and revised pricing. For more information about the changes and building amenities please see my prior post.

Current pricing information:

“A” Plan, 1 bedroom / 1.5 baths
Total living SF 1,054 (Interior 952 SF, Exterior 120 SF)
Floors 3-19 with North or South views
Currently available A units are priced from $384,000 to $554,000.

“B” Plan, 1 bedroom / 1.5 bath
Total living SF 1,110 (Interior 910 SF, Exterior 136 SF, Vestibule 65 SF)
Floors 3-19 with East or West views
Currently available B units are priced from $384,000 to $554,000.

“C” Plan, 2 bedrooms / 2 baths
Total living SF 1,780 (Interior 1,607 SF, Exterior 173 SF)
Floors 3-24 with NE, NW, SE & SW views
Currently available C units are priced from $$699,000 to $1,124,000.

“D” Plan, 2 bedrooms + den / 2 baths
Total living SF 2,182 (Interior 1,955 SF, Exterior 240 SF)
Floors 20-24 with North or South views
Currently available D units are priced from $1,250,000 to $1,450,000.

“E” Plan, 2 bedrooms + den / 2 baths
Total living SF 2,226 (Interior 1,878 SF, Exterior 283 SF, Vestibule 65 SF)
Floors 20-29 with West or East views
Currently available E units are priced from $1,090,000 to $1,625,000.

“F” Plan, 3 bedroom / 2.5 baths
Total living SF 3,073 (Interior 2,442 SF, Exterior 531 SF, Vestibule 100 SF)
Floors 25-29 with NE, NW, SE & SE views
Currently available F units are priced from $1,600,000 to $2,250,000.

View available Escala condos for sale.
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The Seattle Condo Blog

The folks at Escala Condos and TeamBuilder have been busy redefining the Escala experience during the past few weeks. Now, the $370 million condominium development is set to officially reopen its sales center on March 27th, though it sounds like they’ll soft open on March 15th according to rep with TeamBuilder.

Out of the 80 or so pre-sale buyers, 6 have closed and about 35 are expected to continue with their purchase at this writing…that’s around 15% of the units sold.

The most significant change to the project is pricing with homes now starting as low at $384,000 for a 952 square foot one-bedroom (B layout), $699,000 for a 2-bed + 2-bath home (C layout) and from $1,574,000 for a 3-bedroom 2,442 square foot home. I spoke with a pre-sale buyer who’s unit was reduced 28%, which is approximately the figure that’s been floating around from other buyers. However, I’m told the percentage will vary by layout/location.

In looking at Escala’s first release pricing sheet dated 7/2006, the “B” layout plan units ranged from about $500,000 to $800,000 (before they starting raising prices) and now they’re between $384,000 to $550,000. The “C” plan homes now range from $699,000 up to $999,000 for a 20th floor unit. Back in 8/2006 those homes were priced from $800,000 to $1,600,000. The prices today are well below those during the market’s peak in 2006/2007.

Pricing has dropped low enough that the project has applied for FHA approval. This is striking considering how the property was originally marketed – very upscale, a private social club with hugely expensive memberships, homes with private elevators and vestibules – to potentially being FHA eligible.

The other significant change to the project is Club Cielo, which will remain but in a far more limited form. Rather than a fully staffed and managed social club and restaurant with outside membership, the facilities remain (bar, kitchen, dining room, wine grotto and dining space, terrace, theatre and spa/fitness area) but only for use of residents on a pay-per-use system. Residents may schedule fitness trainers and masseuses or cater their own parties in the club’s dining room and bar. As a result, homeowner dues have been reduced from $.85 to $.58 per square foot.

There are eight levels of underground parking. All homes come with parking and there will be extra spaces available for purchase as well. The wine grotto has 271 storage lockers available with each locker holding two cases. I’ve heard conflicting info, but most likely they will be available to residents on a first-come, first-served basis.

The spa and fitness areas are spacious with professional quality equipment, two resistance lap pools, hot tub, 4 or 5 massage rooms and a yoga studio.

The building and homes are gorgeous. The amenities impeccable. The pricing, fairly attractive comparatively. Considering new construction condos offering homes at the similar price points – Enso, Olive 8, Volta – it’s hard to beat Escala for its overall quality, finishes, uniqueness, views and level of amenities.

View available Escala condos for sale.

Condominium websites:
Escala
Enso
Olive 8
Volta

The three-property condo auction held by TeamBuilderJLS this past weekend yielded over $3 million in sales.

According to the press release 18 very fortunate homebuyers took advantage of great prices at the auctions of the Sunrise on the Lake, The Summit, and Avaview condominium projects last Saturday. The condominiums offered on auction day sold for 136% over the recommended minimum bid pricing to the full satisfaction of the Seller.

“A $3 million sales day is significant in the middle of the holiday season,” says Jeff Powell of JL Powell Auction Company, the auctioneer for the event. “This auction was a success and we’re looking forward to conducting more auctions in the New Year,” says Powell.

Koket Fowler of TeamBuilder Auction Group applauds the bidders that participated in the auction. “These buyers received some fantastic deals and we’re very happy for them. To get in on prices like these for an in-city condo is unheard of.”

The Seller of the three communities elected to sell some units subject to their final confirmation and opted to offer some units post-auction.

The condo auction that was to have taken place on December 5th has been rescheduled for this coming Saturday – December 12th at the Sheraton Hotel in downtown Seattle. The auction begins promptly at 1:00 pm.

This auction includes three separate properties located on Capitol Hill and North Seattle – The Summit, Avaview and Sunrise on the Lake. Available homes include studios, one-bedroom and two-bedroom units with the minimum bid price beginning at $95,000.

For more information, please visit the auction website at www.SeattlePropertyAuction.com

NOTE: The auction has been rescheduled for Saturday, December 12, 2009.

TeamBuilder JLS has just announced the auction of 36 Seattle area condo properties, located in North Seattle and Capitol Hill, on December 5, 2009. The auction includes studio, one-bedroom and two-bedroom units at Avaview Condominium, Sunrise on the Lake and The Summit. All three properties are conversions.

Avaview Condominium – 9056 Mary Avenue NW
Six of the 11 homes at Avaview will be sold at the auction. Located in Seattle’s Crown Hill neighborhood, Avaview offers one and two-bedroom homes ranging in size from 646 to 738 square feet. Interiors feature stainless steel appliances, granite countertops and breakfast bars, frieze carpeting, private decks or patios and engineered hardwood flooring in kitchens and entries. Minimum bids for Avaview will begin at $150,000. View auction property info.

Sunrise on the Lake – 13426 Greenwood Avenue N
Sixteen of the 39 homes at Sunrise on the Lake will be sold at the auction. Located in Seattle’s Broadview neighborhood, Sunrise on the Lake is set on the shores of Bitter Lake. Sunrise features studio, one and two-bedroom homes ranging in size from 502 to 895 square feet. Interiors feature stainless steel appliances, hardwood flooring in kitchens and entries, natural hardwood cabinetry, slab granite countertops, and private decks with lake views. Minimum bids for Sunrise on the Lake will begin at $125,000. View auction property info.

The Summit – 900 Summit Ave E
Everything is new at this down-to-the-studs remodel. All 14 homes at this Capitol Hill boutique building will be available at auction. The one and two-bedroom homes range in size from 531 to 795 square feet and feature stainless steel appliances, hardwood flooring in kitchens and entries, solid wood cabinetry, granite countertops, private decks and controlled access entry. Minimum bids for The Summit begin at $140,000. View auction property info.

Auction Infomation
The auction will be held at 1:00 PM on Saturday, December 5, 2009 at the Sheraton Hotel in downtown Seattle, which is located at 1400 6th Avenue.

Auction buyers must pre-register no later than Thursday, December 3rd and will need to be pre-qualified through the Seller’s designated lender. Buyers may elect to use their own lender, however.

Auction website: www.SeattlePropertyAuction.com

For more information, please download the auction brochure (click on image):

Saw this TV commercial this past weekend for the Verdeaux Condos in Bothell … I think on the USA Network. Interesting, particularly for a smaller, lower-priced condo project to be advertising on TV. And, if I’m not mistaken, the “actor” is a site agent for the marketing company.