Clearly, auctions are the new black. Developer, Schnitzer West will be holding auctions for their two condo projects, Gallery in Belltown and Brix in Capitol Hill on September 27 at the Grand Hyatt Hotel. The Brix auction will begin at 1.00pm and Gallery will begin at 6.00pm. 43 homes and 40 homes from Gallery and Brix will be available for auction, respectively.
Four Seasons Private Residences announced this week that they are extending some special pricing on selected remaining homes. 22 out of the 25 sales have closed so far with 11 remaining. The price drop for some of these homes varies from 15%-25%.
The site of Icon Tower is up for Sale. The approximately 11,000 square foot lot was planned as a 32-story condo but later on the developer decided to change it to an apartment. However, they were unable to obtain financing for the project. Read more here.
Enso will be having their Grand Opening this weekend from 11.00am to 5.00pm. The project is approximately 60% presold and working on obtaining final approval from Fannie Mae. There are not a whole lot of new projects out there that are interesting to visit unless you don't mind crossing over the bridge to Bellevue (yeah, I know). If you are in the market, I would check out Enso. All the floor plans on the 12th floor are open for the public to view.
July numbers are in and considering the early part of this year, they look pretty good. Some takeaways depending on what kind of mood you're in.
There was an interesting article on Co-op/Condo boards this weekend in the NY Times. One quote that caught my eye was:
The people who run for a board seat, he said, tend to fall into three categories: “Some people love the power and they like the respect it gives them; some people do it because they feel it’s time to do something for the community; and some people have a personal agenda.”
It reminded me how little attention some buyers pay to the quality of the condo associations. Granted, condo boards turnover pretty frequently but in terms of the culture, expectations, and history, some buildings seem to have it down better than others.