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Penthouse At 1521

By Matt Goyer July 11, 2010

Don’t know how I missed blogging about this penthouse at 1521 (unit # unknown) when it hit the market in January. But I did notice it come back on the market for $5.5 million this past week, a $700k adjustment from its initial listing price of $6.2 mil. Now it’s priced at $2,069/square foot!

The interiors appear to be the usual 1521 interiors. What really caught my eye was the private deck with hot tub:

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9 responses to “Penthouse At 1521”

Chris says:

July 11, 2010 at 4:31 pm

Any more pictures?
nina says:

July 11, 2010 at 6:21 pm

Is there a link to the actual listing?
mattgoyer says:

July 11, 2010 at 7:01 pm

Sorry about that, here's the link to more pictures:
http://www.redfin.com/WA/Seattle/Undisclosed-ad…
Real Estate Curator says:

July 12, 2010 at 12:35 am

Don't be fooled by the “typically 1521 interiors”. While stylistically Marinello through and through; nothing competes with the untouchable and protected views from this sexy penthouse. Towering four hundred-forty feet above the earth with nearly 270 degree views overlooking Elliot Bay and the Sound – as far as the eye can see, to Mount Rainier, Qwest and Safeco Field, the entire Financial Dist. to the Eastside. By day or night, the views are positively seductive. Nearly four hundred sf., the private skydeck is equipped with a very hot, hot tub, fireplace and grill along with state of the art sound system. This home redefines High-def.
Guest says:

July 12, 2010 at 12:39 am

There are three units on the 38th floor in King County records: 3800 (unsold, 2999 sq ft, parcel ID 2538831460); 3801 (Scott & Michelle Peyree, 2453 sq ft, parcel ID 2538831470); and 3802 (Andrew D. Abramsky, 2778 sq ft, parcel ID 2538831480).

This listing claims 2658 sq ft and on the 38th floor. Not sure which unit that would be.
Prt says:

July 12, 2010 at 4:43 pm

Opus Northwest was sold in June to a Chicago based developer that have done a lot of work with distressed developments. I wouldn't be surprised to see further cuts at 1521 to move the unsold units.
Real Estate Curator says:

July 12, 2010 at 8:15 pm

1521 is now at 70% occupancy and has managed to preserve values within the building fairly well. Offering a work studio with the unit and other quiet concessions have been used by Opus as negotiating tools in the past. New ownerhsip or not, they will have to be innovative to remain competitive but it will be interesting to see what that looks like and how strongly they can hold onto values.
BTW- More pics of 1521 penthouse: http://www.thecitadelseattle.com/
The MD says:

July 13, 2010 at 12:16 am

Opus Northwest was NOT sold in June to the Chicago-based developer (You're referring to Zeller). The deal was not approved by U.S. Bank. Although the deal was in the works for Opus Northwest to sell, it had nothing to do with 1521, which was only a small portion of Opus Northwest's portfolio. Instead, the trigger for the deal was to remove the underperforming properties from the company.
Prt says:

July 13, 2010 at 1:23 am

From http://www.finance-commerce.com/article.cfm/201…

Asked if Opus Northwest will try to sell its remaining portfolio in bulk or sell off individual properties one by one, Solberg did not have a definitive answer.

â€œThat hasnâ€™t been fully determined yet. In the meantime, some assets are being sold off,â€ Solberg said. â€œI still think there could be a possibility of a portfolio sale. We really havenâ€™t put other individual assets up for sale yet.â€

Opus Northwest currently owns 17 properties, not counting land holdings, across the country.

That list includes other properties in the northwest U.S. such as the Fifteen Twenty-One Second Avenue condo project in Seattle, the 7th & Madison, a 205,000-square-foot office building in Seattle, and Park 19, another Portland apartment building.

….

Asked about the timeline for decisions about the remaining Opus Northwest properties, Solberg said, â€œI think weâ€™ll probably know in the next three weeks.â€

Penthouse At 1521

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