Before heading out on vacation I also stopped by 5th and Madison and I must say I was pretty impressed. Their sales center isn’t at ground level like so many other ones, in their case it’s on the 20-something floor of the building next door to their lot giving you excellent perspective on what your views will be. In my price range I’m looking at I really like ‘residence 5′:
5thAndMadisonResidence5 Hosted on ZooomrStarting at $425 for 800 square feet for a corner condo it seems to be a really nice deal. Though my concern is that there isn’t much of a neighborhood around 5th and Madison. I’m sure there are lots of people during the day and some people there at night, but I’m guessing that very few people actually live there and so the community after 5pm is probably pretty lacking.
Here are some photos I took while there:
5th and Madison Kitchen Hosted on Zooomr
5th and Madison Bathroom Hosted on Zooomr
5th and Madison Shower Hosted on Zooomr
5th and Madison Finishes Hosted on Zooomr
IMGP4472 Hosted on ZooomrSome additional notes on 5th and Madison:
- A few weeks ago they were at 31 units sold (of those they only think 4 were investors)
- Aiming for a low number of investors (sub 15%)
- Completion date is around August or September 2007
- They have amenities like guest room, fitness room and a concierge
- They’ll have a restaurant tenant (6500 sq ft)
- Central heating, AC and water
- LEED
- Each unit comes with a parking spot and storage (9′ x 3′)
- 10.5 foot ceilings
- Upgrades: sound system wiriing, Viking appliances, wine cellar, full hardwood
- Competition: Mosler Lofts and Lumen
- Targeting: Second time buyers
- Deadline for finishes is September 1st
- They’ve made some revisions to their finish package, bathroom and kitchen since first launching
And here is their price sheet from about three weeks ago:
5thAndMadisonPriceSheet Hosted on ZooomrPopularity: 4% [?]
3 responses so far ↓
1 anon // Aug 24, 2006 at 3:59 pm
55 cents a sq ft for HOA’s? pricey
olive8 has more amenities and i think it’s 52 cents
nice tall ceilings however
2 Sea~Condos // Aug 24, 2006 at 8:40 pm
I actually thought that this building has some “mid-level” finishes. Look at your own picture above, and look at the thickness of the countertops in both the kitchen, and the bathroom. I didn’t like the appliances or the cabinets. If you look at the model, the cabinets are average, no name brands. They aren’t even Italian. The fixtures in the bathroom are also entry level.
I think Mosler or Lumen are better buys for 2007 completion projects. I also have issue with the green areas below. They will have open access, and the homeless park down the street will be sure to frequent this. Lastly, no street parking for guests, and a long walk to the restaurants.
It seems like only selling 31 units in over 3 months is pretty slow. I believe they have been selling since May.
3 Steve // Aug 29, 2006 at 5:52 pm
Thanks Matt for the nice words about 5th and Madison condominiums. With ceilings 10 1/2 feet & walls of glass, a corner home priced under $500K should be considered.
Someone questioned no restuarants nearby. Within three blocks; Tulio’s, Sazerac, Earth and Ocean, Purple Cafe, The Met, Georgian Room, Troiani, and McCormick’s operate. A 6,500 sq. ft. restuarant/bar will be at retail. What will not be in the immediate area is the all night carnival of Belltown, complete with the sirens and motorcyles. Join the party and after….. enjoy the quiet of home.
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