I forgot to blog about the Seattle Times article, More empty apartments forecast in the Seattle area:
More than 100 condo buildings in King, Snohomish and Pierce counties â€” many of them apartments originally â€” are becoming rentals again because the units haven’t sold well in this down market, said Greg Wendelken, vice president and regional manager for brokerage Marcus & Millichap.
But with a tip from a reader it makes a nice intro to the fact that Florera a Pryde + Johnson new construction condo in Greenlake, targeting LEED silver, has gone rental recently. They only sold 14 units of 59 units.
What I find funny is that the Craigslist ad says, “we have only a few condo apartments available”. Florera also needs to update their website. It is still advertising earth day from last April on the home page.