One88 Sells Over 100 Units, Pricing Now Mid-$2m
One88, the 143-unit condo building being built by Bosa in Bellevue has announced that they sold over 100 units during their initial “private” sales phase. Sales will open to the public this Saturday, March 10th, with the remaining units starting in the mid-$2ms.
We’re surprised by the demand for One88 as when we contacted clients who had expressed interest over the years, almost all were turned off by the $800k+ starting price for a one bedroom. A few clients weren’t deterred, and one entered their lottery process hoping to get something under $1.1m. Our spot was for Sunday, February 25th, mid-way through the process, but we got a call Saturday the 24th and prices were already at $1.4m, and by Sunday, $1.8m. I wish we had drawn a better spot in the lottery!
It is going to be interesting to watch how quickly the remaining units sell and if they try to re-tool some floorplans to create some “lower” priced inventory; they likely could have sold even more units if they had shifted their mix towards more one bedrooms. It’ll also be interesting to see where Elev8 prices at given One88’s success on the high end.