Ten Twelve First?

Three listings for a project currently named Ten Twelve First just all of a sudden appeared in the NWMLS the other day.  Generally, when a new tower is being proposed and about to be listed for presales, you usually see it coming because of a formal permitting process.  However, this one seems to have caught us all off guard.

John L. Scott Realtor and principal for the development, Breffni McGeough, informed us that there is no Public Offering Statement yet, the design has yet to be finalized, and the building’s air rights will also need to be worked out.

So far, what’s being reported about the building itself is that the tower will of course be a luxury high-rise, should stand 35 36 stories, include 219 hotel rooms, have 21/22 condominiums on the upper 16 floors, displays a completion date for 2011, and will be designed by Ismael Leyva–architect for the proposed Pagoda & Heron Tower.

A buyer is now able to make a reservation ($25k ) for the “shell(s)” currently listed with MLS.  However, even though a search for available units in the building delivers three active listings, there’s really only one 8,000 square foot condo, or two separate 4,000 square foot units.  Regardless of whether or not a buyer chooses one 4,000 square foot unit at $1,750,000, or both units for $3,500,000, he/she/they will be walking away with 1st Avenue Seattle real estate at only $438/square foot.

Be sure to also see what Matt Goyer and Ben Kakimoto have to say.