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Short Sale at Veer Lofts & A Beacon Hill Townhouse

By September 10, 2012

Beacon Hill, Condos, Houses, South Lake Union, Veer Lofts

Two new listings caught our eye today. First off, at the Veer Lofts in South Lake Union, Unit 613 just came on the market as a short sale.

Listed at $399,000, this top-floor unit last sold in 2008 for $587,000. That would be quite a haircut for the bank.  The one bedroom unit is laid out in a two-level loft with concrete floors, 18-ft ceilings, and it’s LEED certified. From the pictures, it appears the unit faces west.

Two-level layout at the Veer Lofts

Unit faces west toward the Space Needle

While significantly less than the 2008 price, this unit is still asking for $439 per sq ft. I would be hesitant because there are a number of underdeveloped lots nearby. With all of the building activity in South Lake Union, I’m not sure how secure the advertised view is.

It will be interesting to see the market reaction.  On the floor below, the slightly smaller Unit 505 came on the market at $275,000 in April and sat for a month. Then, the seller dropped the price twice before settling at $250,000 ($289 per sq ft). Within two days, it went pending. The unit is still listed as ‘Pending’ today.

Next, there is a Beacon Hill townhouse at 13th and South Hill St that seems fairly reasonably priced. Listed at $329,000, you get two bedrooms, two bathrooms in 1,078 sq ft.

Townhouse at 13th Ave S. & S. Hill St.

Light-filled living room and dining area

This townhouse also features high ceilings with a loft master suite and faces west, which should have nice views of the Olympics. The finishes do look modern, though the appliances don’t exactly look high end. The light rail station is several blocks away. Let’s see what happens…