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Home / Seattle Condos / Downtown / 1521 / $1.4m Loss on 1521 Resale

$1.4m Loss on 1521 Resale

By May 1, 2012


Seattle Bubble’s eagle eyes spotted this monster loss on a re-sale at 1521, Top Floor Unit at 1521 Sells for 27% Off 2009 Price.

The unit in question is #3802. Just sold for $3.6m. Originally bought for $5m.

The previous buyer only financed $2.5 million at purchase, followed by another $500k loan a few months later, so that entire $1.4 million loss is on them.

$1,362,820 loss on the sale
$180,000 agent fees (assuming 2.5% commission)
$92,831 in property taxes
$60,660 in HOA dues
Total Cost for 3 years: $1,696,311
$47,120 a month has got to be the most expensive rental in town, hands down.

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