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The Stanton in Ballard – This Cycle’s First Apartment to Condo Conversion

By July 13, 2018

The Stanton

Big news tonight! The Stanton at 1515 NW 52nd St in Ballard is this cycle’s first apartment building to condo conversion. The Stanton, a 5-story, 26-unit apartment building built in 1990 was purchased by Midby Companies for $10.1m in May (or approximately $388,416 per unit) and has been very quickly converted to a 24-unit condo building. The first units for sale there just hit the MLS:

  • #405 – $608,500 – 2 bed, 1 bath – 765 square feet
  • #306 – $608,500 – 2 bed, 1 bath – 765 square feet
  • #302 – $590,000 – 2 bed, 1 bath – 765 square feet
  • #205 – $579,500 – 2 bed, 1 bath – 765 square feet

If Midby Companies sounds familiar it is because they were the developer behind the Escala, a large new construction project last cycle.

Given the sudden increase in inventory, especially condo inventory, it will be interesting how this fares. Previously units were being rented for $1,700+ for a one-bedroom unit and $2,100+ for a two bedroom.

I’m the founder and managing broker of Urban Living. 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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206-618-1600