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3 Unfinished Townhouses at 25 on the Park

By June 13, 2010

Twenty Five on the Park

Interested in a fixer upper at the best located townhomes on Capitol Hill?

The other day three unfinished townhouses at 25 on the Park showed up on the MLS:

This unit is partially completed so bring your imagination on how you want to complete it. These homes offer the very best: spacious floor plans, lots of windows and light, high ceilings! Rooftop decks with view of Space Needle. Seller FDIC. Unit sold as is. Buyer to verify building condition, permits, etc.

Here they are on Redfin:

1820 11th Ave Unit A: $249k for 1,254, 1 bed, 1.5 baths

1820 11th Ave Unit B: $219k for 1,062 square feet, 1 bed, 1.5 baths

1820 11th Ave Unit C: $249k for 1,254, 1 bed, 1.5 baths

Six months ago they were asking $400k for unit B presumably finished. There appears to be one completed sale at the project according to Redfin, 1822 11th Ave, unit A for $435k for a 1,078 square foot unit.

Could an Urbnlivn reader post on estimated costs for finishing a townhouse? What’s the approximate dollars per square foot that we should be adding to those price tags? Also, I’m curious what the financing options are like for something like this? I’m assuming none and you’d have to pay cash because it wouldn’t appraise unfinished?

I’ve also heard from some people buying at 25 on the Park that it has been a hassle buying there because the bank that foreclosed on the project failed itself and now the project is owned by the FDIC and working with the FDIC is apparently a lengthy process in order to submit an offer and if your offer is accepted get your deal to close. Curious to hear about the FDIC drama and see these shells first hand I stopped by the project this afternoon only to discover they don’t have an open house on the weekends which is pretty odd! You’d expect the foot traffic at Cal Anderson Park to be the best on the weekends, especially this sunny weekend.

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I’m a real estate broker and the publisher of Urbnlivn. I love lofts, floating homes, new construction and mid-century moderns but will help you buy or sell just about anything.

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