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April 2016

Nexus Condominiums Have Launched A Website

Nexus Press Release_Page_1
The newest condominium building to be announced already has it's sales website up and running, www.nexusseattle.com.

They are touting the location of Nexus at 1200 Howell as being in "Seattle's new multi-billion dollar urban living core" and comparing it to peer markets like SOMA in San Francisco.  It seems that the Development Company, the Burrard Group, is counting on all of the new and projected construction in the area including other residential towers, hotels, office buildings and the convention center expansion to bolster interest and vibrancy in this new emerging neighborhood.

What did we learn from the marketing website and press release?

BUILDING DETAILS:

  • Pricing will start in the $300,000s
  • Building will be 440 feet tall (40 stories)
  • 403 condo units
  • One bedrooms, two bedrooms, three bedrooms, 2-level sky lofts and penthouses
  • Retail on the main floor
  • 7th floor will have a co-working space, fitness center, dog run/lounge, great room, media facility and outdoor patio
  • Rooftop will have a sky club with social spaces, an exhibition kitchen, private dining, sky-bar, recreation room, view terrace with open air kitchen and a fireside lounge
  • Owners will be able to use an app to reserve in-building guest suites, flexible parking options and other services

SALES:

  • Begin taking reservations in May 2016, next month
  • Presale contracts will begin in fall
  • Break ground by late 2016
  • Begin closing purchases in 2019

It sounds like Nexus will be a tech savvy building with amenities to rival other amenity rich buildings in Seattle like Escala and Insignia.

We look forward to keeping you posted on the progress of Nexus.

To read the press release: Download Nexus Press Release

By Marco Kronen with Seattle Condo Review: A guide to Seattle downtown condos.


Join us for Condos Over Coffee 4/27 & 4/30 - Prepping Your Condo for the Dynamic Seattle Market

Condos over Coffee Logo with WritingCONDOS OVER COFFEE - Wednesday April 27th & Saturday April 30th

WHEN: Wednesday April 27th 7:30 to 8:30am & Saturday April 30th 9:30 to 10:30am
WHERE:
Starbucks in the Denny Regrade/Denny Triangle (in Amazon's new building)
TOPIC: Prepping Your Condo for the Dynamic Seattle Market

This month join me at Starbucks coffee shop in the Denny Regrade for part two of the discussion on prepping your home or condo for the market. Last month we talked about timing and pricing in the market, and now this month we continue that by focusing on how to get your condo fully ready and prepped for the market to attract the buyers and get maximum value.

This will be an ideal Condos Over Coffee event if you are at all considering selling and really want the low down on what things to expect when preparing your condo for the market.

Please RSVP here so that we can make sure to save a seat for you. Friends, family and/or colleagues are welcome to stop by too, so pass the word along!

Oh, and coffee's on me! So stop by on your way to work on Wednesday or Saturday morning before you kick off your weekend to chat real estate.

NEXT MONTH'S EVENT - May 25th
Next month's Condos over Coffee will be on May 25th and will be a discussion on strategies to compete for condos in the fast paced Seattle condo market, including tactics on choosing the right lender that will help your offer be more attractive to seller’s and their listing broker.

LAST MONTH'S EVENT 
In March we met at the Pike St Victrola on Capitol Hill and had a great turn out for our open forum event. We talked through topics like the steps and strategies to consider when planning for the sale of your condo, talked about keys to pricing and ways to help create multiple offer scenarios to increase the chances of buyers competing and escalating the price for your condo.

By Marco Kronen with Seattle Condo Review: A guide to Seattle downtown condos.


Nexus - 40 Story Condo Tower Coming to Denny Triangle

NexusAs we reported on back in November of last year, Canadian Developer, the Burrard Group, was hoping to develop a 40 story condo tower at 1200 Howell in the Denny Triangle. Well, it sounds like, based on the recent PSBJ article, that they are moving forward with the project as condos and plan to break ground by the end of the year. It will be called Nexus because it is in the nexus of South Lake Union, Capitol Hill and Downtown and will be the second (Luma in First Hill being the 1st) high-rise condo in Seattle to break ground since Insignia in Belltown, which is already 90% sold. According to the Burrard Group, now that mortgage payments on condos are comparable to rents, we have reached the tipping point in the market making building condos attractive.

Nexus will have 403 units within it's twisted block design. The 1 bedrooms will start in the mid $300,000s and there will be fewer than 20 pricey penthouse units.

Rendering from Weber Thompson


Sales Update on New Construction & Pre-sale Condos

Here is a quick update on how sales are going at our new construction condo buildings around town.

Updated Sales in New Construction Condos

There are still many opportunities to snag a unit at Luma and move in this summer. Insignia is getting more and more limited and has no 1 bedrooms left and only 2 units available under $800,000. At Vik, with only 4 condos left, you have very little to choose from but there are 1 and 2 bedroom units among the 4 left. For the condos that are taking reservations still, Gridiron and Hendon, you have both options and time on those. However, at Hendon (formally Hyde) the top floor units with views and large deck/patio spaces are all reserved already, as we suspected.

By Marco Kronen with Seattle Condo Review: A guide to Seattle downtown condos.