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Condo Review – Avenue One Condominiums in Belltown

Avenue One Condominiums in Belltown
2721 1st Ave

This month we are focusing on doing more Condo Reviews and as always, I try to be impartial and neutral with my Condo Reviews so our readers, who either might be considering buying or those considering selling,  will be able use this information to help them in their decision making process.

Avenue One Condominiums was built in 2005 and sits on the quieter north end of Belltown, close to both the amenities of Belltown and Lower Queen Anne as well as the Seattle Waterfront and the SAM Sculpture Park. The building was built by the developer Intracorp, who also built the neighboring Parc Condominiums. It’s a nice middle to upper-end condo building and the units were not built with ultra-high-end finishes, it tends to have affordable price points and a design aesthetic that is a mix of traditional and modern.

To see a video of an example of an actual unit at Avenue One Condominiums click here.

The stats:

  • 120 units – studio, one and two bedrooms ranging in size from 435 sqft to a 1,338 sqft
  • Built in 2005
  • 13 stories
  • All units have at least 1 parking space and all condos have a storage unit
  • 4 units have sold in the last 6 months ranging in price from $265,000 to $640,000; at the time of this post there is 1 unit pending listed at $429,950 and one active unit on the market listed for $799,950
  • HOA dues include: garbage, water, sewer, natural gas, building maintenance, professional property manager, earthquake insurance
  • Amenities: Party room with terrace, gym, guest suite, concierge staff, roof top view deck

Continue reading "Condo Review – Avenue One Condominiums in Belltown" »

Solo Lofts Cancelling Pre-sale Contracts - another one bites the dust, sadly

Solo LoftsAccording to another Broker in our office, whose clients were in contract on a pre-sale unit, Solo Lofts in Ballard is cancelling all of their pre-sale contracts and will return all earnest deposits to the buyers due to unforeseen delays and a dispute with their contractors. This news comes just before the project was slated to be completed.

Our guess is that, just like their condominium project Salt in Ballard did earlier this year, this project will turn into an apartment building. 

This news is particularly unfortunate for those buyers who have been in pre-sale contracts since early 2014 as they have left the equity that has been building since then, on the table.

Also evidenced by this news, is that the costs of constructing a condominium building still seem to be so high that making the projects pencil is proving difficult for some developers.

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