Capitol Hill condos Feed

Condo Review – Meridian in Downtown

Meridian in Downtown
1420 Terry Ave

MeridianMeridian 2

The Meridian Condominiums is a concrete and steel high rise sitting right between Downtown and Capitol Hill near the Convention Center. It was built in 2002 by Taliesen Corp. It has a dramatic 2 story lobby with a 24 hour concierge. It has a nice amenities package

The stats:

  • 158 units –one, two and three bedrooms ranging in size from 557 to 2,657 square feet
  • Built in 2002
  • 27 stories
  • Most units have 1 or 2 parking spaces
  • 7 units have sold in the last 6 months ranging in price from $330,000 to $1,100,000; at the time of this post there is 1 unit pending that is priced at $500,000 and there is 1 unit active that is priced at $500,000
  • HOA dues include: garbage, water, sewer, central hot water, building maintenance, concierge, professional property manager, earthquake insurance
  • Amenities: Party room, gym, guest suite, business center, sauna/hot tub and 24 hour concierge

 

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Luma Sales Update

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Luma, the new construction condominium tower on First Hill, had their opening sales event on June 1st and have now released the sales information from that event.

From the Sales Team:

  • Luma buyers purchased over $12,000,000 in homes on June 1st
  • “Buyers selected homes from all sizes and locations in the building which means we have all types and price ranges still available” - Julie McAvoy, Director of Sales at Luma
  • They sold out of the open one bedroom plans (there were 3) that were under $400k

From what we can gather from the website:

  • They had 16 sales during the sales event
  • 7 of those sales were on floors 2 through 5
  • No sales were on floors 6-15
  • The remaining 9 sales were on or above the 16th floor
  • 2 penthouses were sold - both north facing
  • 11 of the sales were 1 beds and 5 were 2 bedrooms
  • 3 of the units sold had the large patio spaces

Based on the information above, it seems like the smaller and likely more affordable one bedroom units on the lower floors were the most popular sell at the event. Then the rest of the sales were on the higher floors, likely due to buyers wanting to pick up views and overall outlook and light. All but one of the 2 bedrooms sold were on the higher floors.

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


Luma Sales Process Finalized for June 1st

Luma has officially finalized their sales process for June 1st and here are the details.

Sales Process:

  • 1425497665-1597_0228_Luma_i04_RoofdeckOffers will be accepted on June 1st before 6pm via Priority Unit Selection Agreement
  • The Agreement will allow buyers to select and submit an offer on their first and second choice homes
  • Buyers will be allowed to add an escalation clause to their offers
  • No offer under the listed price will be accepted
  • A $5000 Selection Deposit is required
  • Obtain a pre-approval letter from one of the preferred lenders
  • The Public Offering Statement and Purchase and Sale Agreements are available to view in advance
  • All of this will be delivered to the sales center by 6pm on June 1st

If you have interest in Luma and there is a particular unit you have your eye on, like a unit with a large patio or a certain view, you would likely want to particpate in the June 1st sales process. If you are open to multiple units you can participate but could also wait until the sales become first come first serve.

As always, if you have any questions or would like assistance through the process we are here to help.

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


Luma Unit Specific Pricing Released and Other Details

RenderingLuma, the new construction condo building on First Hill, has released it's unit specific pricing. You can access those on their website, liveluma.com via the floor plan finder tool.

Below are some other details about Luma that we learned since visiting the sales center with our clients.

Sales Process:

  • On June 1st the sales process will start-  they will not be taking any reservations prior to that
  • They will have a one page form for buyers to indicate their top choice(s) for units and that form is due to the sales center by June 1st (they will be sealed and not until June 1st
  • If you’re the only one with interest in a specific unit, you will be notified of this and the unit will be yours to purchase and you will go directly to purchase and sale agreements (contracts) at that time
  • If there are multiple people interested in the exact same unit once they open up the sealed forms, there will be a process to resolve that though the sales center didn’t indicate what that exact process looks like quite yet
  • Those that come after June 1st,  it will be first come first serve and straight to purchase contract on the remaining units
  • 5% Earnest deposit will be required
  • Financing contingency for 30 days to allow buyers to confirm and secure their financing with a lender

 

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Distinctive Condo Alert- Capitol Hill Penthouse with Options to Grow

1111 E Pike Aerial
I love fun condos that are unique and depart from the ordinary so had to share this one.

Recently I took a look at the penthouse unit  at 1111 E Pike, the Tom Kundig designed building on Capitol Hill.

With a world class chef’s kitchen to die for, and huge open living and dining spaces, I thought it was very unique from the get go.  The other rare find for an in-city condo, is the large 400 square foot private roof top deck that I’d totally love to lounge on and sip some wine or enjoy a yummy summer Bloody Mary with friends.

And if it isn’t unique or rare enough for you, there’s more.  After meeting with the listing broker, Sam Cunningham from Realogics Sotheby’s International Realty, I learned the seller of this rare piece of Capitol Hill also owns the two adjacent one bedroom condos, which are soon to be available for sale as well.  Anyone interested in expanding the space and combining the units on this top floor could really have something special in this location right smack in the middle of the Pike Pine sub-neighborhood of Capitol Hill.  Thanks Sam for the tour and the information.

1111 E Pike Kitchen1111 E Pike Living1111 E Pike Living 21111 E Pike Patio
By Marco Kronen with Seattle Condo Review: A guide to Seattle downtown condos.


Luma Pricing and Floor Plans Released

Luma Logo

Luma, the new construction condominium building in First Hill, has released their price ranges, interior finishes, amenity information and floor plans to the Broker community in advance of the public open house.

LUMA - 1321 SenecaPrice Ranges:

  • Open One Bedroom
    • 602-620 square feet
    • $350,000 to $400,000
  • One Bedroom
    • 648-1,012 square feet
    • $400,000 to $800,000
  • One Bedroom + Den
    • 847-858 square feet
    • $450,000 to $600,000
  • Two Bedroom
    • 1,181-1,356 square feet
    • $700,000 to $1,000,000
  • Two Bedroom + Den
    • 1,322-1,529 square feet
    • $800,000 to $1,000,000+
  • Live/Work
    • 1,233 square feet
    • $600,000 to $700,000
  • Penthouse
    • 1,586-1,721 square feet
    • pricing available upon request

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Condo Review – Bering Condominiums in Capitol Hill

Bering Condominiums in Capitol Hill
233 14th Ave E
Bering

Bering Condominiums is a boutique vintage building with 28 units located in Capitol Hill.  The location is just one block from the shops and restaurants of the popular 15th Ave E district.

The stats:

  • 28 residential units – studios, one and two bedrooms ranging in size from 396 to 1,039 square feet
  • Built in 1928
  • The building converted to condominiums in 2000
  • Most units have 1 parking space
  • 2 units have sold in the last 6 months ranging in price from $194.900 for a studio to $475,000 for a 2 bedroom one bath unit; at the time of this post there is one active unit Priced at $375,000 for a 793 sq ft One Bedroom.  No units are currently pending.
  • HOA dues include: central hot water, garbage, water, sewer, building maintenance, professional property management, earthquake insurance
  • Amenities: No common amenities other than Laundry Room

 

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November 2014 Seattle Condo Stats

Each month we go back and take a look at condo market sales here in Seattle as reported by the MLS.

We first take a look at the whole city of Seattle to get a general overview of our area’s condo market and then we drill down by neighborhood using the MLS areas focusing on the areas that have the largest concentration of condos here in our city.  Those areas we closely track are:

  • Capitol Hill/Central/Madison Valley (area 390)
  • Queen Anne/Magnolia (area 700)
  • Downtown/Belltown/SLU (area 701)
  • Ballard/Fremont/Wallingford/Phinney (area 705)

We then use this data and information to make forecasts and to help buyers and sellers make decisions on their real estate needs.
SCR Market Chart (Nov 2014)_Page_1

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August 2014 Seattle Condo Stats

Each month we go back and take a look at condo market sales here in Seattle as reported by the MLS.

We first take a look at the whole city of Seattle to get a general overview of our area’s condo market and then we drill down by neighborhood using the MLS areas focusing on the areas that have the largest concentration of condos here in our city.  Those areas we track are:

  • Capitol Hill/Central/Madison Valley (area 390)
  • Queen Anne and Magnolia (area 700)
  • Downtown/Belltown/SLU (area 701)
  • Ballard/Fremont (area 705)

We then use this data and information to make forecasts to help buyers and sellers make decisions on their real estate needs.
SCR Market Chart (Aug 2014)_Page_1

Continue reading "August 2014 Seattle Condo Stats" »


Condos Great for Your Pooch! - Seattle Condominiums with Dog Friendly Amenities

If you are looking for a condominium in Seattle but need one specific amenity or another, we know it can be hard to locate that information. We are writing a series of articles that each feature a different condo amenity that will help make it easier for you to narrow in on buildings that contain the key condo building feature most important to you.

This article is going to highlight buildings that have done a great job to be extra doggie friendly by adding amenities such as piddle patches, also known as the “relief area”, a dog run where dogs can play off leash in a secure area, or dog washing stations. If you have a 4 legged friend, one of these buildings might be the one for you!

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Continue reading "Condos Great for Your Pooch! - Seattle Condominiums with Dog Friendly Amenities" »