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A Few More Interesting Listings

February 7th, 2010 · Comments · By Matt

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.

17085 1 0 A Few More Interesting Listings

Next up is #802 at the Seaboard downtown. $469k for a 883 square foot one bedroom:

17815 1 0 A Few More Interesting Listings

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:

18958 2 0 A Few More Interesting Listings

In pending news, I’m surprised to see the firehouse unit go pending in a week and a half.

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Tags: Monique Lofts · Seaboard

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  • LostInSeattle
    Those PB Elemental homes were originally priced at $585k, dropped to $519-$529k, and are now short sales. I am guessing they will need to go even lower.

    With respect to the location, I agree with the other comments. I would not want to spend so much money to live in a questionable area. When I drove by them, I did not like that they sit on a busy street plus, the graffiti on one of the units left me wondering.

    I too would have liked to see more PB developments in the north. However, I think the land was much cheaper in the CD, Rainier, and Beacon and this meant extra profit. Keep in mind these units were being built when people were buying any and every thing.
  • Pete
    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.
  • mvdr
    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.
  • mvdr
    BTW, anyone know what these originally were on the market for?
  • EconE
    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.
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