Here’s a detail in today’s Seattle Times article about Insignia—the first new construction condo project to break ground in five years—that caught my attention: While condo prices at Insignia haven’t been set, Bosa said, “they’ll be more than you can buy anything [downtown] for now.” More than anything that’s for sale right now? Yikes. One…
Tag: Escala
Friday Flashback: “Seattle isn’t like other cities.”
Time for another Friday Flashback! Today’s flashback comes at you from February 2007, as the Seattle Times declared 2007 to be “The year of the condo in downtown Seattle” (emphasis mine). [Condo developer David] Thyer insists that Seattle isn’t like other cities, where developers are struggling with an oversupply of new condos. There’s a demand…
Condo Odds & Ends
I’ve collected a few random condo odds and ends over the last couple weeks that I felt like sharing, so that’s what I’m about to do. First is a condo currently on the market in Belltown, spotted by the astute WestSideBilly, and featured in a New York Times article titled What You Get for ……
Details on Escala’s Exit from Fantasy Land
Kirsten Grind over at the Puget Sound Business Journal posted a more detailed update yesterday on the 180° strategy turnaround at the upscale downtown condo complex Escala that we mentioned a month ago. Escala cutting condo prices by 50 percent Downtown Seattle condominium tower Escala will lower prices by as much as 50 percent on…
Escala Condos’ Shocking Price Strategy Timeline
April 2008: Raising Prices to Entice Buyers—wait, what? (Awesome plan, Escala!) Developer Lexas Cos. said this week that on June 5 it will raise the asking prices 3 to 7 percent for about 70 unsold units that have been on the market since last spring. Another 22 units that will be released for sale May…