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Is no parking in Green Lake a deal killer?

By March 1, 2007

Uncategorized

Another reader has a question for the audience which I’m happy to entertain here.

I work for a small real estate firm and we have some sites tied up with the intention of developing a portfolio of for-rent
product in Seattle. However, I am interested in building to condo specs and potentially converting to condos or selling to a converter. The question is this:

Would you be willing to consider buying a condo in a new building without an on-site parking space (Green Lake/Roosevelt neighborhood), or would the lack thereof that far from downtown be a deal killer?

Would you opinion change if the unit price was 30,000 below “market” prices (approximate cost of stall at one per unit) and a buyer allowance of 5,000 (one time allowance at closing) was provided for off-site parking?

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