urbnlivn, a seattle condo & real estate blog

Eleven Eleven East Pike Broker’s Open Photos

July 8th, 2009 · Comments · By Matt

Tonight on the way home I swung by the broker’s open for Eleven Eleven at, wait for it, 1111 E Pike. It’s a 27 unit building developed by Anne Michelson on Capitol Hill designed by Tom Kundig.

585325214 ZuZek S Eleven Eleven East Pike Brokers Open Photos

Tom Kundig, the architect, in case you don’t know, is a big deal. I hear that there was a line out the door thirty minutes before the party started. Maybe they were there to see Tom (he was only going to be there for the first hour. Guess he had other plans later in the evening), maybe they were looking for a free drink. I don’t know, but I did witness a fan get his Tom Kundig book, Houses, signed.

After a few glasses of wine I have to say I’m a fan of the multi-colored abstract exterior and for the most part the floor plans. I think they got both those right. Plus there are floor to ceiling windows with good north and south views (at least from the fifth and sixth floors. north units even had a peek-a-boo view of the Space Needle).

585333526 wzb5q S Eleven Eleven East Pike Brokers Open Photos

However, I am not a fan of the interior finishes.

The kitchen reminds me a lot of the low-end Veer Lofts kitchen and the Trace North kitchen and in my opinion is a miss. Especially at the price point they’re currently at. The counters look cheap, the appliances don’t fit the style and the cabinets are nothing to get excited about. Plus the used a funky material for the walls around the kitchen. And if you can see where they nailed it on.

Eleven Eleven East Pike Kitchen

But it’s not just the kitchens. The bathrooms are too white. And the finish and detail quality in general just isn’t there if you look closely. Or not closely in some cases.

585328631 zp5yg S Eleven Eleven East Pike Brokers Open Photos

What about the “puzzle door” that you can use to close off the kitchen or your bedroom? It’s neat. But the execution is lacking. For the units I checked it out in it often rubbed where it interlocked with parts of the wall. Or rubbed a wall it was sliding against. Maybe they just need tweaking but it doesn’t seem ready for prime time.

I’m also of the opinion that if you’re going to put a balcony on it needs to be big enough for two chairs and a table. You don’t need much space to move around, but it at least needs to enable a couple to have breakfast outside.

Also, I was shocked they let us walk around with our shoes on. The floors in the penthouse unit the party was in was visibly scratched. Sure they’ll get scratched, over time, by the first owner, but let the owner decide whether they’re going to wear their shoes inside or not.

In conclusion: Great exterior, bad interior. Talking to others the theory is that they started off with a grander vision and dialed back the interiors when the market tanked. Their primary competition is Trace North just a block away so we’ll see how they do.

Here are my 73 photos from the penthouse party and a few units on the fifth floor. And here’s a recent discussion on 1111 pricing on Urbnlivn.

Wendy also blogged about seeing Eleven Eleven

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Tags: Eleven Eleven East Pike

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  • michael_1111eastpike
    Matt - I'm glad you had a chance to stop by to view Eleven Eleven on Tuesday. That was actually a private invitation only function hosted by 360 Modern for architectural enthusiasts and Eleven Eleven's prospects who have been tracking the project. There were very few brokers in attendance.

    Eleven Eleven was always envisioned as an affordable boutique condominium for those who want to be part of the Capitol Hill community. 9 foot ceilings, floor to ceiling windows, and an amazing roof top deck are all aspects of that vision. The interior selections were chosen because they are made from renewable resources and can withstand the test of time. Many of these products are the same as in Tom Kundig's multi-million dollar custom homes.

    At pricing between $250k - $450k for an architecturally significant new construction project we are proud of our offering. If you reverse out our least expensive unit, you only need to make $36,000 per year for a fixed rate 30 year mortgage.

    Add that to the fact there are only 27 homes, and it is a pretty compelling project for most people. In any given condo building, 5% of the units are for sale due to life changes, relocations, etc. during a healthy market. Most new buildings are at least 100 units meaning you will always compete with at least 4 of your neighbors for a buyer. In our building you would compete with one. This lack of supply will buffer people against future devaluations from sellers under duress that drive values down.

    Thanks again for the post and to everyone else for the discussion. We hope to see you around for the Capitol Hill Block Party!
  • Chris
    It'll be interesting to see how the first wave of post-bubble projects compete in terms of amenities (whenever that might be). Designers and contractors are now falling all over themselves to deliver product for less cost. If values weren't falling equally fast and leverage wasn't eviscerated we might find out sooner than later. That said, I'm hearing bids at 20-35% lower than 2007 peak pricing. I hope some of this marginal savings will be invested in value - eg real balconies and good kitchen finishes
  • n
    i'm pretty sure that's anne's unit the party was in too! damn pre-finished floors!
  • Victor Loo
    Thanks Matt for posting the pcitures and comments. Initially, I was considering 1111 East Pike, but after reading your reviews, and the photos, I am disappointed that it did not turn out as well as what I had hoped. With such a hefty price tag, I will expect more.
  • ak47
    Crappy exterior detail, crappy interiors and a wooden building at a premium price? Sign me up!

    My impression from hearing Kundig talk is that a lot of the detail work was done by his assistants. He was unable to answer basic questions.

    They all feel very poky. You can hardly call it a penthouse at 650 sq feet. It's more like an attic.
  • EconE
    As I said...you're a straight shooter Matt...even down to the fact that they let people trod around in their shoes during the party. Wendy's blog post wasn't quite as direct nor as detailed as yours.

    And you got to take pictures first?

    snap
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