Keller Williams Greater Seattle, Ben Kakimoto, Seattle Condo Agent

Condo Odds and Ends

81 Vine Penthouse Sold!

This is one that I’ve been following and it finally sold. The smaller north-facing penthouse at 81 Vine Building in Belltown closed yesterday.

Unit #504 is a gorgeous two-level open loft penthouse with a large terrace. It was once listed as high as $599,000 in early 2010 and sold for $404,700.

That reflects a 26.4% decline in value from its previous sale in 2006 for $550,000. View additional property details.


The Fairview

The Fairview Condominium in Mukilteo is looking towards closing out the development soon. There are three luxury condo homes left, including two penthouses, located next to the Harbour Pointe Golf Course.

  • Unit #203: 2-bedroom + den, 1,444 sq ft home with 10′ ceilings. Listed at $369,500.
  • Unit #507: 2-bedroom + den, 2,489 sq ft home with 20′ ceilings w/exposed Pine beams. Listed at $799,500.
  • Unit #501: 3-bedroom + media room, 3,146 sq ft w/20′ ceilings & a rustic fireplace feature. Listed at $998,500.

The current list prices of these three homes reflect a 40-44% reduction from their original prices.


Burien Town Square

The Burien Town Square Condominium development’s revival turned out to be a bit premature. Plans were in place for an August 1st re-launch of the project (see ad on the right), but its new owners seem to be second guessing the vitality of the region’s condo market. From the B-TownBlog:

And Aug. 1 turned out to be too soon for this mega condo seller to pencil out numbers that work. “I’m still not convinced the [real estate] market is settled today,” David Ploger, first vice president of ST Residential, told Burien City Council members Aug. 15.

But ST Residential is looking toward a public launch of condo sales, “although I can’t guarantee it will happen yet this year,” Ploger added. Still, he voiced confidence in their product and the marketability of the condos.

ST Residential and my sources anticipate the project will re-launch this year with prices 35% below their original levels in 2007. Stay Tuned!


The Decatur

The Decatur on First Hill is making a push to sell its remaining 22 homes reducing prices last week by approximately 15-17% from last list prices (around $30,000). Overall, the current prices are about a 35-40% below their original 2007 pricing levels.

View listed Decatur units for sale.


Marselle Condominium

The Marselle Condominium near the Seattle Center just realized a mini-surge in sales – 5 homes went under contract in the past 3-weeks per the MLS, passing the 70% sales mark. Homes are available from $229,990.

View listed Marselle condos for sale.

Disclosure: Burien Town Square, Marselle and Decatur are advertisers of Seattle Condos and Lofts at the time of publication.

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