First up is a #205 at Monique Lofts on Capitol Hill. $389k for a full two story loft. Unfortunately the listing agent mailed it in on the photos.
Next up is #802 at the Seaboard downtown. $469k for a 883 square foot one bedroom:
Finally we have 1317 S State St, one of four Pb Elemental designed townhouses on Beacon Hill. All four are short sales priced at $479k for 3 beds/3.25 baths:
In pending news, I’m surprised to see the firehouse unit go pending in a week and a half.
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1 EconE // Feb 8, 2010 at 1:21 am
Not sure why you're surprised that the Firehouse unit went pending so quickly. As much as some people didn't seem to like it (someone commented about too much wood), it's probably one of the more unique units in Seattle from what I've seen.
WRT PbElemental…love their design asthetic….although I suspect that they may hurt themselves by building *really* nice townhomes in somewhat marginal areas.
2 Pete // Feb 8, 2010 at 4:52 pm
I agree with EconE, as I've said before, these townhomes by Pb are cool and green but really, am i willing to spend $400K+ to live in shady parts of Seattle? Im suspecting that they're getting these run down properties for a bargain and making a higher profit margin vs going to the north or east of seattle. Lower the profit margin and build on volume, it'll exceed the profit margin in no time.
3 mvdr // Feb 8, 2010 at 7:59 pm
I'm pretty sure PB isn't making anything like a profit these days – those townhouses are a short sale, and PB appears to be having the same issues as all the other design/build companies.
Having said that, yes, the location is pretty ordinary, and isn't likely to appreciate much with Amazon pulling out of PacMed this year. The upside is the light rail stop nearby.
4 mvdr // Feb 8, 2010 at 7:59 pm
BTW, anyone know what these originally were on the market for?
5 LostInSeattle // Feb 8, 2010 at 8:25 pm
Those PB Elemental homes were originally priced at $585k, dropped to $519-$529k, and are now short sales.
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