Worth $1,000+ Per Square Foot?

11-foot ceilings at 819 Virginia St #3403

The northeast penthouse unit at The Cosmopolitan just hit the market for $1.8 million. Two things about that list price caught my eye: It’s higher than the June, 2007 sale price and the price per square foot is $1,029. It will be interesting to see how the market responds. Sure the 11-foot ceilings, the gourmet… Read More

Belltown Sales Are Up; 39 Total Sales Last Week

81 Vine 2

As we approach mid October sales will typically remains steady throughout the month and beginning of November, and take a  slight dive near the Holiday weeks that follow. Last week we saw 39 total sales across the board, with a notably higher number of sales in Belltown, especially those mid range 1-2 bedrooms units under… Read More

Interesting Sales Last Week

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Seattle saw 33 sale transactions close in condos and townhouses last week. It was the last week of the month, so the usual run of new construction closings cropped up including one condo at Marselle and at Danielle, two condos at Enso (including that double-height penthouse), and three condos at Escala. Notable in resales was… Read More

Open Houses This Weekend

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Seattle has 67 condos and townhouses offering open houses this weekend. Urbnlivn’s picks include fairly new-to-the-MLS at the Press and Cosmo, plus a recently price-reduced unit in Belltown’s Austin Bell building. 1610 Belmont Ave #311 Sunday, 1-4PM This 2-bedroom, 2-bath and 910 square foot unit at the Press was listed this week for $330K –… Read More

Interesting Sales Last Week

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I’m halfway convinced that someday when I run my Redfin query on last week’s sales and the results come back higher than 50 condos and townhouses, that music will play while balloons and confetti fall from the ceiling. Unfortunately, that didn’t happen this time – only 30 condos and townhouses sold last week in Seattle,… Read More

Two Boutique Projects + Two Downtown Ones

I’m back from Maui! While I was gone the New York Times had two articles you may find interesting. The first is And Do I Hear 2 Million for That Condo? No? 1 Million? Sold! and the second is Apartment Buyers Abandoning 6-Figure Deposits. And the Marlborough officially went into foreclosure. Poor Live Historic. And… Read More

Beware of Condo Dues!

The Seattle PI has a full page, above the fold, lengthy story on the danger of increasing condo dues for new construction projects. I guess people are tired of reading about the election and the bailout. After moving into the building and forming their own homeowner association two years ago, 2200 residents were faced with… Read More

MLS Watch

Okay, I’m back from California. Here are the interesting units that have hit the market in the last week. 5th and Madison Prices are going up and down at 5th and Madison. Penthouse #2403 came on the market at $2,199,000 dipped to $1,995,000 on June 26 and is now back up to $2,149,000. Whoever is… Read More

MLS Watch – $350k drop at Cosmo, Madison Lofts, Site 17

Wow, we go from a spring with no exciting units to a summer just jam packed with inventory. If you were sitting on the sidelines there is finally some good condos to choose from. Here’s a roundup of what’s caught my eye in the last week. Cosmo – Huge price drops Ashley has the scoop… Read More

Condo Project at Eigth and Stewart Cancelled

Seattle Times, Developer slashes number of stories for Watermark site: A developer who proposed a 32-story condo tower two years ago on the site of Watermark Credit Union’s downtown Seattle headquarters now wants to build an office building less than half that tall instead. This is of particular interest to Cosmo residents as it affects… Read More

Seattle PI on Cosmo struggle

Aubrey at the Seattle PI has an article on the well discussed tower spacing issue at Cosmo, Condo owners struggle for views as Seattle rises. The article mentions two folks who have actually left the building because of this. One sold, the other is renting their place out. The article also has a sound bite… Read More

Cosmo blog, an open letter to the mayor

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The Cosmo Blog has posted a letter to the mayor about the development going up next door: Dear Mayor Nickels- We the community of Cosmopolitan Condominium owners and residents are writing to inform you of a problem with our community. All of us are supportive of Seattle urban growth, otherwise we would not have chosen… Read More

Buy unit #3102 at Cosmo and get a Benz

Thanks to ‘jo’ for sending me a pointer to 819 Virginia St #3102. Turns out for $1 million you get both a 1310 square foot condo at the Cosmo on the 31st floor and a “2006 CLS 550 AMG Silver on [sic] Black Mercedes”. Here’s the marketing remarks: Incredible views of Elliott Bay, lake Union… Read More

MLS Watch – 2 weeks of new construction updates

2200 25 Bellagio Added 3 more units to the MLS for a total of 4. Their HOAs feel really low at $0.26/square foot. Cosmo 28 Decatur Decatur recently dropped prices on a number of units between $3k and $10k. Though oddly raised the price of #1306 $3k to $302,950 and #1007 $5k to $465,960 Equinox… Read More

Seattle one of best places to flip

This was just going to be a bonus link but I thought it was a good opportunity to check in on our favorite flipper condos… First the link: Forbes, Best Places To Flip A Home: However, those looking to make a quick buck may do so in a number of markets ripe for a well-spotted… Read More

Sunday Seattle Times – Free scooters, no HOA for 2 years and more

Sorry for not posting more! And I know its Thursday today but better late than never. Here are the notables in the ads in last Sunday’s Seattle Times. Azul Flats: ‘Priced for Quick Sale!’ Carbon 56: ‘No home owner dues for one year’ Cosmo: ‘The Penthouses – Move In Today’ Fini: ’30% Sold Grand Opening… Read More

MLS Watch

Sorry for the slow posting, work is killing me. 2200 vs. Cosmo 36 vs. 65. It’s also interesting to note that there are 4 new listings at 2200 listed by John L Scott’s Jon Hunter who is working for Vulcan on Enso/Rollin/Veer. The listings all look curiously the same. Are these Vulcan owned units that… Read More

MLS Watch

2200 vs Cosmo 2200 – 36 vs Cosmo – 54. Arcadian Court #205, my friend Katrina’s unit that she listed on Redfin, went STI in a two days. Fini I hear there was a line up 25 people deep for Fini’s opening day. I also hear they started raising prices throughout the day in reaction… Read More

Flipping. It’s not just something you do to pancakes.

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This weekend the Seattle Times had an article on condo flipping, Tactics in place to deter buyers from flipping and it more or less paints a rosy picture of the situation here in Seattle. The Cosmo Blog has a follow-up blog post titled condo arbitrage. This article and topic really deserve a length post but… Read More

MLS Watch: $5.9 mil and everything else

2200 vs Cosmo Inventory Glut Match 36 versus 39. Winner: Cosmo. Cristalla There are 5 units available at Cristalla. The most recent to come on the market is a 436 square foot studio at $379,990. Only $872/sq ft. I guess I’ll stop bitching about Trace’s price per square foot. But it does have a $6,000… Read More