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Mosler Lofts Getting Soaked in Legal Disputes

July 9, 2008 by  
Filed under JE Dunn NW, Mosler Lofts, Schuster Group

A puddle of lawsuits have been reported in the P.I. since we last posted about the $6.7 million lein on Mosler Lofts last week. A battle between who’s responsible has erupted between JE Dunn and the Schuster Group. The Schuster Group has responded to JE Dunn claiming that they (Dunn) were in breach of contract for substantial and costly delays.

Additionally, more liens on the property have flowed over to subcontractors and suppliers.

In its lawsuit, Belltown Development Partners says it paid JE Dunn for subcontractors’ work and materials suppliers furnished, but Dunn did not pass on the money.

If that wasn’t enough, another lawsuit filed in December is asking the developer for a minimum of $325,000 to repair damages to the Kroll’s Map Co.–Mosler Lofts neighbor. The claim is asking to compensate Kroll’s for lost business and physical damages from not properly protecting the building during construction.

Unfortunately, it doesn’t look like anyone will be swimming out of this one anytime soon.

Mosler Lofts Slapped with $6.7 Million Lien

July 1, 2008 by  
Filed under JE Dunn NW, Mosler Lofts

uncle sam wearing je dunn hatGeneral contractor JE Dunn NW is preventing the purchase or sale of any units at Mosler Lofts by filing a lawsuit to collect $6.7 million. The letter below states that the lawsuit could take weeks, months, or even years before the settlement restores homeowners titled rights.

The immediate impact of this situation on our homeowners and potential homeowners is that they will be unable to obtain clear and free title to transfer ownership or receive title insurance – no buying, no selling, no use of equity as collateral.

This is an unfortunate circumstance for those who have, or have been thinking of buying at Mosler Lofts. The award-winning building is one of the first to set the standard on building green in Seattle, and we should all cross our fingers that the lawsuit is settled quickly for the benefit of it’s homeowners.

Details regarding what JE Dunn NW is specifically holding the lien for could not be found.

click to image enlarge

letter concering lein on mosler lofts

Examples and Characteristics of Lofts in Seattle

Most all dictionaries define a loft as a storage area or attic. This can cause some confusion, so I scoured the Internet to find out everything I could to provide the true definition of a “livable loft.” In real estate terms, all lofts feature ceilings 10′ or higher, and with very few exceptions, large windows measuring 6′ or higher. Lofts can also be classified into three styles; New York Lofts, Industrial Lofts, and Modern Lofts.

Examples of Lofts

New York – Also referred to as the “true” loft, the most common trait among this style is the lofted bedroom. This design also has very high ceilings of 15′ or higher, and traditionally excludes interior walls. New York style lofts typically sell at a premium compared to others because the 2nd story is commonly more desirable.

Examples of Projects in Seattle with New York Style Lofts

Site 17 Veer Lofts Lumen
Site 17 small Veer Lofts small Lumen small

Industrial – This style of loft may or may not include a 2nd story, but strictly refers to industrial or commercial structures that have been converted (usually by the addition of full baths and kitchens). It’s also very common for this style to include exposed brick walls and/or ductwork.

Examples of Projects in Seattle with Industrial Style Lofts

81 Vine Jackson Square Stadium Lofts
81 Vine small jackson square building small Stadium Lofts small

Modern – This style falls into the definition of a loft because of ceiling and window height. However, it’s common for this style of loft to have interior walls separating rooms. This type of design has also become a popular trend in new construction and will typically have a less industrial feel.

Examples of Projects in Seattle with Modern Style Lofts

Klee Mosler Lofts GALLERY
Klee Suites Lofts Mosler Lofts small gallery small

Characteristics of Lofts

In addition to various styles, lofts have various characteristics that make them even more unique. When beginning your search, the more you know about what you’re looking for, the less time you’ll have to spend searching. Here is a guide to help you add to, or cross off, characteristics on your loft wish list.

Exposed Brick Exposed Beams Multi-Level
Loft exposed brick exposed beams 2 story loft
Floor/Ceiling Windows Metal Catwalks Concrete Columns
loft window Loft Metal Catwalks concrete column
Exposed Ductwork Open Kitchen Concrete Ceiling
exposed ductwork Loft with open kitchen loft concrete ceiling

This blog is a great place to search for loft style condos in the downtown Seattle area. If an address features loft style units, the building has been categorized in the “Condo Categories” drop-down menu in the left column of this blog. All condo projects have also been categorized by amenity, location by street, zip code, architect, neighborhood, and more.

If you’re interested in taking a look at some of Seattle’s lofts for sale, contact to arrange a day and time that fits your schedule.

LEED-Certified Condos Yeild Higher Return

The new generation of buyers are demanding green built features when shopping for their first home, even though it can cost them up to 25% more. Builders are now being forced to make the additional up front investment in construction costs (averaging 2%), but Wikipedia states that they will eventually yield over 10 times that amount over the life cycle of the building. Additionally, developers receive additional incentives from state/local government that help boost press and public interest. Studies also show that LEED-certified buildings average $11.24 more per square foot, and have a 3.8% higher occupancy than non-LEED built homes.

So what is LEED-Certified?

Developed and administered by the U.S. Green Building Council of Washington D.C. (a nonprofit coalition of building industry leaders), The Leadership in Energy and Environmental Design (LEED)™ uses a rating system which offers 4 levels of certification — Certified, Silver, Gold and Platinum. Each certification is designed to represent an “environmentally responsible, profitable and healthy place to live” by measuring building sustainability.

Each level is measured by points in five design categories: sustainable sites, water efficiency, energy and atmosphere, materials and resources, and indoor environmental quality. The higher the level, the higher the expenditure. However, LEED-certified buildings:

  • Lower operating costs and increased asset value.
  • Reduce waste sent to landfills.
  • Conserve energy and water.
  • Healthier and safer for occupants.
  • Reduce harmful greenhouse gas emissions.
  • Qualify for tax rebates, zoning allowances and other incentives in hundreds of cities.
  • Demonstrate an owner’s commitment to environmental stewardship and social responsibility.

average performance of leed certified homes

Here’s a look at what downtown area projects have been, or are striving to be LEED-certified:

2200 Westlake
5th and Madison
AVA
ENSO
ESCALA
Fifteen Twenty-One
Lumen
Mosler Lofts
Olive 8
Veer Lofts

It is surprising that many of the new construction projects haven’t applied for any level of LEED-certification considering that it’s proven to increase sale prices and occupancy. At the same time, an up front investment of 2% for a builder can be quite a bit.

Green Home Checklist
Green Homes 101

While reports on the Internet support that buyers will pay more for a LEED-certified home, and builders will yield higher profits, I’ve had experience where buyers are actually turned off by the idea of having recycled materials integrated into their home’s interior.  Buyer’s also seem to prefer to get more square feet for their dollar rather than a smaller green built home.  What would you do if you could get a new construction 2 bedroom condo for the same price as LEED-certified 1 bedroom?

Seattle Best of Home 2008 Winner for Top Architecture

Mosler LoftsIf you live in the downtown Seattle area, there’s a high probability that you already have a subscription to Seattle Magazine with this months issue on or under your coffee table. I actually came across this month’s issue walking through the airport. The word “architect” was seen within my peripheral vision and had to look at the cover closely to see the orange in the top left corner of the cover.

The best local design, architects and remodeling experts (P. 72)

Another thing to note (if you’re from out of town) is that if you live in the downtown Seattle area, architecture and development becomes an obsession. So, when you see Seattle and architecture on the same page (even you’re not even looking) getting to your departure gate can wait just 1 more minute. With our hot urban market, I knew there would be a winner for the downtown area and wanted to see if it would be a surprise. To no surprise at all, page 72 features a photo of Mosler Lofts and the Mithun staff. While other new communities may have stronger marketing strategies or a higher record of sales, Seattle Magazine awarded Mithun for their cutting-edge sustainable design. Mithun’s focus is also based on resource efficiency and urban revitalization. Seattle has become the place to be for those who are green and Mithun is certainly leading by example.

Other projects by Mithun | Architects + Designers + Planners |

| Mosler Lofts in Belltown + Brix in Capitol Hill + Gallery in Belltown + Domaine in South Lake Union + Cosmopolitan in Downtown + Stadium Center in Pioneer Square + REI Flagship Store |

As of today, there are still 16 remaining, ranging from $369,950 for a 1-bedroom to $1,395,000 for a 2-bedroom penthouse.

View Current Listings for Sale

Mosler Lofts – 2720 3rd Avenue, Seattle, WA 98121

mosler-lofts.jpg

Address: 2720 3rd Ave., Seattle, WA 98121
Neighborhood: Belltown

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DESCRIPTION

150 eco-friendly lofts on the corner of 3rd Avenue and Clay Street. Known for it’s high quality properties, Mosler Lofts was created by local developer The Schuster Group. Architect was reknowned Mithun Architects + Designers + Planners. This is also another of Seattle’s first condominium developments to be “built green” and receive the LEED Silver Certification. In addition to using less energy and knowing the majority of construction waste was recycled, Mosler Lofts also features a plant-covered “green” roof, non-toxic, recycled materials and energy-efficient mechanical systems. Floorplans range from 500 to 2,000 square feet and boast high-ceilings in each of the New York loft-style homes including 2-story townhomes. Originally priced from the mid $200′s to $1 million.

PICTURES

Living Day Exterior Living Night

Bed Kitchen Dining

VIDEO

BUILDING DATA

  • Year Built: 2007
  • Number of Units: 150
  • Number of Stories: 12
  • Exterior: Cement/Concrete, Brick, Glass
  • Parking: Common Garage
  • Pets: Subj to Restrictions
  • H/O Dues Included: Central Hot Water, Earthquake Ins., Garbage, Water/Sewer
  • Common Property Features & Amenities: Cable TV, Club House, Disabled Access, Elevator, Exercise Room, Fire Sprinklers, High Speed Internet Available, Lobby Entrance

NEIGHBORHOOD BUSINESS

  • 1st Denny Market
  • 7 Eleven
  • 76 Station
  • All You Knead
  • Belle Harbor Cafe
  • Car Toys
  • Crescent Arms Dry Cleaning
  • Lighting Supply
  • Rite Aid
  • Mira! Restaurant & Lounge

VIEW NEIGHBORHOOD MAP

ADDITIONAL OPINIONS & REVIEWS

seattle condos and lofts biz journals emporis nwsource urbnlivn seattle condo review stroupe blog entries

*Data is deemed to be reliable, but not guaranteed. In some cases, number of units may include commercial and residential spaces and/or height may or may not include a 13th floor.