Where Would Buy With $2 Million?

Now that I’ve been asked for the third time where I think the good places for around $2 million are it’s worth posting about and getting some other ideas so I have something to point folks to.

On my list when people ask are:

  • 1521
  • 5th and Madison (the penthouses)
  • Escala
  • Four Seasons
  • Hotel 1000/Madison Tower
  • Mosler (the penthouses)
  • Olive 8

What would you add?

In other penthouse related news someone writes in with this gossip on Cosmo:

The Lake Union view corner penthouse at Cosmo sold for $1.299…and it never hit the MLS. The million dollar one didn’t sell but seemed to be used as bait to get the purchaser to bite for the better view. Just my opinion. The $899k one is still sitting; the identical unit below (larger deck) [sold] for over $1.2MM.

And if you’re looking to rent a penthouse on Capitol Hill there are no less than three penthouse units at Trace now available. From $2400 to $3200. (Prices are already down $400/month/unit from when they were posted on the 24th.)

And Ashley wants to match up 1521 landlords with renters if you have $5000/mn burning a hole in your pocket. (The post seems to be gone now?)

Update: Digging into the numbers there are 35 units above $1.5 mil on the MLS. Average price is $2.149 mil, $1,135/Sq. Ft. and a 145 days on market average. Looks like in the past year 20 units have sold for prices above $1.5 mil for the same are.

About Matt

Matt , Urbnlivn's publisher, has a love for lofts, floating homes and mid-century moderns.

For years Matt resisted becoming a real estate agent preferring to be an executive in the startup world but he recently caved in the spring of 2014 and became an agent.

You can also find Matt on Twitter or skiing.

  • Peckham

    “What would you add? “

    Boston, NYC, San Diego, Santa Fe

  • Peckham

    “What would you add? “

    Boston, NYC, San Diego, Santa Fe

  • Mike2

    Do the trace rentals actually cash flow at those asking rents? Assuming the carrying costs are around $700/month for each $100K of price (low?) that puts the studio at around $350K, and the 1 BR at $400K to break even. Were the penthouses really that inexpensive?

  • Mike2

    Do the trace rentals actually cash flow at those asking rents? Assuming the carrying costs are around $700/month for each $100K of price (low?) that puts the studio at around $350K, and the 1 BR at $400K to break even. Were the penthouses really that inexpensive?

  • Andre

    What would you add?

    New York, London, Paris, Amsterdam

    Agree with Peckham, for that amount of money I would buy in a city with a bit more substance.

  • Andre

    “What would you add?“

    New York, London, Paris, Amsterdam

    Agree with Peckham, for that amount of money I would buy in a city with a bit more substance.

  • Jose

    hmmm…Berlin, Madrid, Lisbon…anywhere but here

  • Jose

    hmmm…Berlin, Madrid, Lisbon…anywhere but here

  • http://twitter.com/mattgoyer mattgoyer

    @Mike2: The sale prices were $535k, $545k and $850k.

  • http://blog.mattgoyer.com Matt

    @Mike2: The sale prices were $535k, $545k and $850k.

  • PistolPete

    Hey Matt!

    Since the responses have been for markets outside of Seattle……I may pretty much be moving to LA in the next few months…yea, I know :) So are there other sites like yours that can help me find a place to live? I’m interested in townhomes and condos. Anyone else with some great leads in helping me leave Seattle would be greatly appreciated! :)

  • PistolPete

    Hey Matt!

    Since the responses have been for markets outside of Seattle……I may pretty much be moving to LA in the next few months…yea, I know :) So are there other sites like yours that can help me find a place to live? I’m interested in townhomes and condos. Anyone else with some great leads in helping me leave Seattle would be greatly appreciated! :)

  • http://twitter.com/mattgoyer mattgoyer

    LA!? :)

    You might check out http://la.curbed.com/.

    On the right side of Redfin’s LA page we link to some blogs: http://www.redfin.com/los-angeles

  • http://blog.mattgoyer.com Matt

    LA!? :)

    You might check out http://la.curbed.com/.

    On the right side of Redfin’s LA page we link to some blogs: http://www.redfin.com/los-angeles

  • PistolPete

    Thanks Matt! Yea, I know…. LA, work, the GF, but i’ll be back unless I get famous in Hollywood! I’ll still be trolling around here of course! I’ll let everyone know how good or bad you have it hear in Seattle vs. LA :)

  • PistolPete

    Thanks Matt! Yea, I know…. LA, work, the GF, but i’ll be back unless I get famous in Hollywood! I’ll still be trolling around here of course! I’ll let everyone know how good or bad you have it hear in Seattle vs. LA :)

  • EconE

    You need to dig deeper into those numbers Matt.

    Especially the “solds”

    The devil is in the details.

  • EconE

    You need to dig deeper into those numbers Matt.

    Especially the “solds”

    The devil is in the details.

  • http://www.mikeplummer.com Mike

    For 2 million I’d be looking at Mercer Island or San Juan Island – waterfront. I do regret not moving to Amsterdam or San Francisco on occasion though.

    I’d be happy spending just under a million on one of the SkyLoft plans at Gallery. Whoever grabbed #1220 made off well for $800k. It’s the penthouse loft in the center of the northwest end of the building. Cost no object that has been my favorite unit for as long as it’s been on sale.

  • http://www.mikeplummer.com Mike

    For 2 million I’d be looking at Mercer Island or San Juan Island – waterfront. I do regret not moving to Amsterdam or San Francisco on occasion though.

    I’d be happy spending just under a million on one of the SkyLoft plans at Gallery. Whoever grabbed #1220 made off well for $800k. It’s the penthouse loft in the center of the northwest end of the building. Cost no object that has been my favorite unit for as long as it’s been on sale.

  • Marce

    Hi Matt,

    Have to pipe in here and add my personal obsession- houseboats.

    http://www.wardscoveonlakeunion.com

    Figured you wouldn’t mind the addition, since they can (but don’t always) have condo-owned moorage. Price no object, a new construction houseboat in Eastlake would do it nicely for me.

  • Marce

    Hi Matt,

    Have to pipe in here and add my personal obsession- houseboats.

    http://www.wardscoveonlakeunion.com

    Figured you wouldn’t mind the addition, since they can (but don’t always) have condo-owned moorage. Price no object, a new construction houseboat in Eastlake would do it nicely for me.

  • Chris

    I’d buy any number of sweet houses on Q. anne hill. Great views, twice the square footage, and still easy access to city amenities

    here’s one example – 3400 square feet supposedly

    http://www.redfin.com/WA/Seattle/2114-Bigelow-Ave-N-98109/home/132529

  • Chris

    I’d buy any number of sweet houses on Q. anne hill. Great views, twice the square footage, and still easy access to city amenities

    here’s one example – 3400 square feet supposedly

    http://www.redfin.com/WA/Seattle/2114-Bigelow-Ave-N-98109/home/132529

  • GLGL

    $2m on Mercer Island buys a McMansion with a view, but not much else. It sure ain’t urban living. Almost nowhere decent to eat or drink, and the only entertainment is kid’s sports.

  • GLGL

    $2m on Mercer Island buys a McMansion with a view, but not much else. It sure ain’t urban living. Almost nowhere decent to eat or drink, and the only entertainment is kid’s sports.

  • EconE
  • EconE