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October 25, 2015 - October 31, 2015

Gridiron Condo’s First Week Update – The $800 +/sqft Prices are still the Talk of the Town

2This week I popped by the new sales center to talk with the Sales team to see how things are going.

Well, despite last week’s shocking public reaction to Gridiron’s lofty prices for their lofty units, they have already reserved over half of the 26 units that were released as part of their phase one.  With pre-sale prices that seem to hover at around an average of $831/sqft based on the those listings posted on the MLS for Gridiron, the days of getting a good deal when you buy early seem to be gone.

Earlier last week the developer released about 25% of the 107 units to the public with pricing for an opportunity to reserve a unit.   The reservation period, along with buyer’s $10,000 refundable reservation deposit, is in effect until the purchase and sale agreement and additional specifics such as the amount of HOA dues are worked out by the developer.  Then buyers with reservations will have a couple of weeks to review the new purchase and sale agreements, along with the required disclosures before making a final decision to move forward with a purchase.

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New Condo Building Coming to Belltown

6On the site that now houses US Bank at 2401 3rd Ave, on the corner of 3rd Ave and Battery St in Belltown, a new condominium building is being planned. According to a recent article by the Seattle DJC, the Taiwan-based Chainqui Development is planning to construct an 12 story condo tower that will evoke the feeling of living in a French villa. It will be their first US development.

The project will be called Urban Green Villa and will have 116 condo units along with first floor retail and 112 below grade parking stalls. Proposed design elements include a roof top deck and garden and green screen walls of landscaping along the side of building.

We will continue to follow the progress of this potential new condominium building in the Belltown core.

Image by GWest Architecture

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